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27 Cards in this Set
- Front
- Back
consumer sales promotion
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sales and promo activities targeting ultimate consumer
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trade sales promo
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promo activities targeting a marketing channel member
->wholesales, retailers |
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coupon
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certificate that entitles consumers to an immediate price reduction when they buy a product
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rebate
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cash refund given for the purchase of a product during a specific period
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premium
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an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product
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loyalty mktg program
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promo program designed to build long-term, mutually beneficial relationships between a company and its key customers
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frequent buyer program
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a promo program tin which loyal consumers are rewarded for making multiple purchases of a particular G/S
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sampling
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promo program allows consumer the opportunity to try a G/S for free
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point-of-purchase display (POP)
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promo display set up at the retailers location to build traffic, advertise the product, or induce impulse buying
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trade allowance
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price reduction offered by manufacturers to intermediaries such as wholesalers or retailers
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push money
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offered to a channel intermediary to encourage them to "push" products-- encourage other members of channel to sell products
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relationship selling (consultative selling)
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sales practice that involves building, maintaining and enhancing interactions with customers in order to develop long term satisfaction thru mutually beneficial partnerships
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sales process (sales cycle- 7 steps)
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1) generating leads
2) qualifying leads 3) approaching customer & probing leads 4) develop & propose solutions 5) handling objections 6) closing the sale 7) following up 7) |
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lead generation (prospecting)
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identification of those firms and people most likely to buy sellers offerings
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referral
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recommendations to salesperson from a customer or business associate
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networking
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process of finding out about potential clients from friends, business contacts, coworkers, acquaintances and fellow members in professional and civic orgs
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cold calling
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form of lead generation in which salesperson approaches potential buyers without any prior knowledge of the prospects needs or financial status
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lead qualification
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determination of a sales prospects (1) recognized need, (2) buying power and, (3) receptivity and accessibilty
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preapproach
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describes the "homework" that must be done before he contacts a prospect
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needs assessment
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determination of customers specific needs and wants and the range of options the customer has for satisfying them
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sales proposal
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formal written document or professional presentation that outlines how the salespersons product/service will meet/exceed prospects needs
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sales presentation
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formal meeting in which the salesperson presents a sales proposal to a prospective buyer
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negotiation
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process during which both the salesperson and prospect offer special concessions in an attempt to arrive at a sales agreement
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follow up
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final step of selling process
1) sales person ensures that delivery schedules are met, that the Gs/Ss perform as promised, and that the buyers employees are properly trained to use the products |
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sales promotion
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consists of marketing communication activities--other than PR, ads, and personal selling--in which short term incentive motivates consumers of distrib channel to purchase the G/S immediately**, by lowering price or adding value
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main objectives of sales promo
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1) increase trial purchases
2) " consumer inventory 3) repeat purchase 4) encourage brand switching to build brand loyalty |
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advantages of personal selling
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1) detailed explanation or demonstration
2) variable sales message 3) directed at qualified prospects 4) controllable adjustable selling costs 5) effects at obtaining sale and gaining customer satisfaction |