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Marketing Chapter 19
Marketing Chapter 19 Vocab Review
| Term | Definition |
|---|---|
| promotion | activity that supports or provides active encouragement for the furtherance of a cause, venture, or aim. |
| product promotion | Promoting a product involves creative marketing strategies to increase sales by reaching a specific audience. Launching and promoting a product are both part of the process businesses complete to boost revenue and build brand loyalty. |
| advertising | Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. |
| publicity | notice or attention given to someone or something by the media |
| sales promotion | A sales promotion is a marketing strategy in which a business uses a temporary campaign or offer to increase interest or demand in its product or service. |
| slotting allowance | A slotting fee, slotting allowance, pay-to-stay, or fixed trade spending is a fee charged to produce companies or manufacturers by supermarket distributors in order to have their product placed on their shelves. |
| sales incentives | A sales incentive program is a system that rewards salespeople who meet specific goals. Rewards may be monetary such as bonuses or non-monetary. |
| licensing | A marketing license agreement is used in business and commerce to provide another individual or business with the authority to use, own, sell, or distribute a specific product. A license is used when a company exchanges these rights for payment. |
| promotional tie-ins | Local promotional tie-ins are a cost-effective marketing technique. They carry a high return on marketing dollars, meaning very little money invested results in a lot more money coming in. |
| premiums | premiums are promotional items toys, collectables, souvenirs and household products that are linked to a product, and often require proofs of purchase such as box tops or tokens to acquire. |
| incentives | a thing that motivates or encourages one to do something |
| promotional mix | A promotional mix is a combination of marketing methods including advertising, sales, public relations and direct marketing to achieve a specific marketing goal. The promotional mix is typically only part of a larger marketing mix. |
| institutional promotion | Institutional promotion is the promotion of the organisation as a whole- its ethics, values, goodwill, its sense of social responsibility, in an effort to improve the brand recognition and increase its public relationship appeal. |
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mgrisanti24
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