| front |
back |
revisions |
lasted changed by |
history |
| Gantt chart |
distinguishes tasks that MUST be done sequentially from those that CAN be done concurrently |
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nms528 Wed, 10 Dec 2008 03:53:45 GMT |
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| 5 guidelines for developing effective marketing plans (plus one more...) |
1. set measurable, achievable goals
2. use a base of facts and valid assumptions
3. utilize simple, but clear and specific, plans
4. have complete and feasible plans
5. make plans controllable and flexible
6. *plan for evaluation* |
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nms528 Wed, 10 Dec 2008 03:53:45 GMT |
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| full coverage |
firm has maximum potential synergies in both marketing and R&D manufacturing |
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nms528 Wed, 10 Dec 2008 03:53:45 GMT |
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| selective specialization |
firm doesn't get either synergy because of uniqueness of market-product combinations |
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nms528 Wed, 10 Dec 2008 03:53:45 GMT |
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| product specialization |
firm gains R&D manufacturing synergy through producing only one product, but gaining market distribution in all three market segments will be difficult |
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nms528 Wed, 10 Dec 2008 03:48:49 GMT |
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| market specialization |
firm gains marketing synergy through providing a complete product line for one market segment, yet difficult R&D manufacturing development for three products |
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nms528 Wed, 10 Dec 2008 03:48:49 GMT |
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| market-product concentrations (synergy) |
firm benefits form focus on a single product line and market segment, but loses opportunities for significant synergies in both synergy types |
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nms528 Wed, 10 Dec 2008 03:48:49 GMT |
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| 5 combinations of synergy effects |
1. market-product concentration
2. market specialization
3. product specialization
4. selective specialization
5. full coverage |
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nms528 Wed, 10 Dec 2008 03:48:49 GMT |
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| diversification |
reaching new customers with a new product
-ex = introducing iPod (when it first came out) to United States market |
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nms528 Wed, 10 Dec 2008 03:42:41 GMT |
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| product development |
reaching current customers with a new product
-ex = 100 calorie Curves granola bar (mainly for women) |
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nms528 Wed, 10 Dec 2008 03:42:41 GMT |
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| market development |
reaching new customers w/ a current product
-ex = Cini Minis for Polish customers |
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nms528 Wed, 10 Dec 2008 03:42:41 GMT |
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| market penetration |
strategy of increasing sales of present products in existing markets (often by altering mktg tactics)
-ex = General Mills selling Cheerios in same market yet focusing on cholesterol-lowering benefits to adapt to target market concerns |
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nms528 Wed, 10 Dec 2008 03:42:41 GMT |
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| annual marketing plans |
usually developed by a marketing or product manager in a consumer products firm (ex: General Mills), this plan deals w/ mktg goals and strategies for a product, product line, or entire firm for a single year |
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nms528 Wed, 10 Dec 2008 03:36:24 GMT |
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| long-range marketing plans |
typically cover mktg activities from 2-5 years in future (don't go beyond due to high # of uncertainties)
-plans often directed at top-level execs and board of directors |
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nms528 Wed, 10 Dec 2008 03:36:24 GMT |
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| planning phase of strategic marketing process |
results in a plan that sets the direction for the mktg activities of an organization (heart of business plan)
-long-range or annual |
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nms528 Wed, 10 Dec 2008 03:36:24 GMT |
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| sales response function of revenue... label axis and shape of graph |
x & y:
annual mktg efforts vs. annual sales revenue
shape = S-shaped |
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nms528 Wed, 10 Dec 2008 03:36:24 GMT |
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| structure |
build and maintain a fast, flexible, flat organization
-ex = Lockheed's Skunk Works: created key guidelines for org. structure and implementation |
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nms528 Wed, 10 Dec 2008 03:27:11 GMT |
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| culture |
develop and maintain a performance-oriented culture
-ex = Smuckers: straightforward and based on four key elements in code of conduct to reduce employee turnover and large stock appreciation |
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nms528 Wed, 10 Dec 2008 03:27:11 GMT |
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| execution |
develop and maintain flawless operational execution
-ex = Toyota: speeding up decisions for a model in about half the industry average |
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nms528 Wed, 10 Dec 2008 03:27:11 GMT |
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| strategy |
devise and maintain a clearly stated, focused strategy
-ex = Costco: sell a limited selection of branded high-end merchandise at low prices |
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nms528 Wed, 10 Dec 2008 03:27:11 GMT |
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| evaluation and control of salesforce |
quantitative assessment or behavioral evaluation |
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nms528 Wed, 10 Dec 2008 02:34:27 GMT |
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What's the preferred method of the following forms of compensation?
-salary
-commission
-combination of both |
-combination of both |
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nms528 Wed, 10 Dec 2008 02:32:27 GMT |
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| recruitment and selection |
one of most crucial tasks of sales mgmt that involves finding people who match type of sales position required by a firm |
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nms528 Wed, 10 Dec 2008 02:32:27 GMT |
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| sales plan implementation |
-recruitment and selection
-training
-motivation and compensation |
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nms528 Wed, 10 Dec 2008 02:32:27 GMT |
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| 3 methods of organizing salesforce in plan (NO best way... depends on situation) |
1. geography (different regions/districts)
2. customer (different buyers have different needs)
3. product or service (specific knowledge is required to sell) |
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nms528 Wed, 10 Dec 2008 02:32:27 GMT |
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| sales plan formulation |
-setting objectives
-organizing the salesforce (where/how selling effort will take place)
-developing account mgmt policies |
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nms528 Wed, 10 Dec 2008 02:25:22 GMT |
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| follow-up |
ensure that the customer is satisfied with the product or service, often by assuring delivery, installation, and set-up if needed
-resolve any problems faced to ensure future sales possibilities, create loyal customer |
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nms528 Wed, 10 Dec 2008 02:25:22 GMT |
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| urgency close |
asks for decision based on timeline |
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nms528 Wed, 10 Dec 2008 02:25:22 GMT |
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| assumptive close |
asks for decision on delivery, warranty, financing |
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nms528 Wed, 10 Dec 2008 02:25:22 GMT |
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| trial close |
asks for decision on some factor of product |
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nms528 Wed, 10 Dec 2008 02:16:43 GMT |
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| close |
obtain a purchase commitment from the prospect and create a customer
-salesperson asks for purchase
-trial, assumptive, or urgency close |
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nms528 Wed, 10 Dec 2008 02:16:43 GMT |
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| need-satisfaction format |
emphasizes probing and listening by salesperson (prospect does most of the talking)
-most consistent with marketing concept and relationship building |
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nms528 Wed, 10 Dec 2008 02:16:43 GMT |
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| canned sales presentation (type of formula selling) |
a memorized, standardized message conveyed to every prospect
-used frequently by firms in phone or door-to-door selling
-every prospect is the same |
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nms528 Wed, 10 Dec 2008 02:16:43 GMT |
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| formula selling format |
based on the view that a presentation consists of info that must be provided in an accurate, thorough, and step-by-step manner to inform prospect
-ex: canned sales presentation |
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nms528 Wed, 10 Dec 2008 02:12:52 GMT |
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| stimulus-response format |
assumes that given the appropriate stimulus by a salesperson, the prospect will buy
-ex: suggestive selling at fast food restaurants or waiter asking customers for dessert |
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nms528 Wed, 10 Dec 2008 02:12:52 GMT |
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| 3 major presentation formats |
1. stimulus-response format
2. formula selling format
3. need-satisfaction format |
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nms528 Wed, 10 Dec 2008 02:12:52 GMT |
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| 6 options for handling objections to presentation |
1. acknowledge/covert the objection
2. postpone
3. agree/neutralize
4. accept objection as valid
5. denial
6. ignore objection (if trivial) |
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nms528 Wed, 10 Dec 2008 02:12:52 GMT |
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| presentation |
begin converting a prospect into a customer by creating a desire for the product or service
-critical to involve customer in product/service through attention to particular needs |
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nms528 Wed, 10 Dec 2008 02:08:13 GMT |
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| Telephone Consumer Protection Act |
contains provisions to curb abuses such as early morning or late night calling
-federal regulation of Do Not Call Registry (fines will be imposed if caught violating) |
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nms528 Wed, 10 Dec 2008 02:08:13 GMT |
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| approach |
gain prospect's attention, stimulate interest, and make transition to the presentation (build foundation)
-first impression is critical
-use common acquaintances, a referral, or product demonstration |
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nms528 Wed, 10 Dec 2008 02:08:13 GMT |
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| pre-approach |
gather info and decide how to best approach the prospect
-info sources include personal observation, other customers, and own salespeople |
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nms528 Wed, 10 Dec 2008 02:08:13 GMT |
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| qualified prospect (in prospecting) |
wants/needs product, can afford it, is a decision maker to purchase product |
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nms528 Wed, 10 Dec 2008 02:01:52 GMT |
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| prospect (in prospecting) |
someone who wants/needs product |
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nms528 Wed, 10 Dec 2008 02:01:52 GMT |
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| lead (in prospecting) |
potential customer |
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nms528 Wed, 10 Dec 2008 02:01:52 GMT |
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| prospecting (in personal selling) |
search for and qualify prospects through advertising, referrals, and cold canvassing
-start of selling process
-lead, prospect, and qualified prospect |
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nms528 Wed, 10 Dec 2008 02:01:52 GMT |
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| value creation through salespeople |
-close to customer, so they can understand needs and solve problems
-simplify the buying process
-after sale follow-up eases dissonance
-relationship selling |
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nms528 Wed, 10 Dec 2008 01:58:14 GMT |
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| 3 major roles of personal selling in marketing effort |
1. salespeople are a critical link between the firm and its customers
2. salespeople are the company in a consumer's eyes
3. may plan a dominant role in the overall marketing effort |
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nms528 Wed, 10 Dec 2008 01:58:13 GMT |
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| 4 tasks involved in managing personal selling... |
1. setting objectives
2. organizing the salesforce
3. recruiting, selecting, training, and compensating people
4. evaluating individual salespeoples' performance |
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nms528 Wed, 10 Dec 2008 01:58:13 GMT |
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| training (trade-oriented sales) |
reseller often less knowledgeable, so increase knowledge = increase sales |
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nms528 Wed, 10 Dec 2008 01:39:36 GMT |
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| push money (trade-oriented sales) |
extra money to employees based on volume |
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nms528 Wed, 10 Dec 2008 01:39:36 GMT |
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| dealer loader (trade-oriented sales) |
incentive for purchasing/displaying product |
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nms528 Wed, 10 Dec 2008 01:39:36 GMT |
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| finance allowance |
involves paying retailers for financing costs or losses associated with consumer sales promos
-regularly used and has several variations |
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nms528 Wed, 10 Dec 2008 01:36:52 GMT |
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| case allowance |
discount on each case ordered during a specific time period
-usually deducted from invoice |
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nms528 Wed, 10 Dec 2008 01:36:52 GMT |
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| merchandise allowance |
reimbursing a retailer for extra in-store support or special featuring of brand |
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nms528 Wed, 10 Dec 2008 01:36:52 GMT |
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| 3 common types of allowances and discounts |
1. merchandise allowance
2. case allowance
3. finance allowance |
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nms528 Wed, 10 Dec 2008 01:36:52 GMT |
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| allowances and discounts |
trade-oriented sales promotions that try to maintain or increase inventory for larger purchases
-not paid by manufacturer until it sees proof of performance |
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nms528 Wed, 10 Dec 2008 01:35:29 GMT |
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| rebates |
offers return of money based on proof of purchase (attracts consumers)
-must call or mail in, but people seldom do this |
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nms528 Wed, 10 Dec 2008 01:33:29 GMT |
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| point-of-purchase/sales displays |
often located in high-traffic areas (ex: end of isle, by cash register) to encourage impulse purchases |
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nms528 Wed, 10 Dec 2008 01:33:29 GMT |
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| FSI (free standing insert) |
coupon booklet inserted in newspaper of magazine |
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nms528 Wed, 10 Dec 2008 01:33:29 GMT |
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| loyalty programs |
used to encourage and reward repeat purchases by acknowledging each purchase made by a consumer and offering a premium as purchases accumulate
-ex = frequent flier programs, credit card bonus points |
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nms528 Wed, 10 Dec 2008 01:27:34 GMT |
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| samples |
offering the product free or at a greatly reduced price (often for new products)
-good for trial |
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nms528 Wed, 10 Dec 2008 01:27:34 GMT |
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| sweepstakes |
based on luck of the draw |
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nms528 Wed, 10 Dec 2008 01:27:34 GMT |
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| contests |
consumers apply their skill or analytical/creative thinking to try to win a prize |
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nms528 Wed, 10 Dec 2008 01:27:34 GMT |
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| premiums |
free or cheaper merchandise offered at a significant savings over its retail price (ex: McDonald's) |
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nms528 Wed, 10 Dec 2008 01:17:47 GMT |
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| deals |
short-term price reductions (ex: 2 for 1, happy hour)
-retaliate against competitor's actions to boost sales
-may reduce perceived value of product |
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nms528 Wed, 10 Dec 2008 01:17:47 GMT |
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| coupons |
-generally 2% of value of product
-can help trial but hurts profits from loyal consumers |
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nms528 Wed, 10 Dec 2008 01:17:47 GMT |
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| How much was spent on sales promotions in 2007? Was this greater or less than amount spent on advertising? |
-$307 billion
-greater than advertising |
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nms528 Wed, 10 Dec 2008 01:17:47 GMT |
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| sales tests (posttest form) |
involve studies such as controlled experiments and consumer purchase tests |
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nms528 Wed, 10 Dec 2008 01:09:26 GMT |
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| 5 types of posttests |
1. aided recall (recognition-readership)
2. unaided recall
3. attitude tests
4. inquiry tests
5. sales tests |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| manners of carrying out ad program by 3 different agency types |
1. full-service agency
2. limited-service agency
3. in-house agency |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| theater tests |
most sophisticated form of pretesting; consumers are invited to view new TV shows, movies, and commercials |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| jury tests |
involve showing the ad copy to a panel of consumers and having them rate how they like it (not hidden with other ads) |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| portfolio tests |
used to test copy alternatives in a portfolio (hidden within other ads) |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| 3 types of pretests |
1. portfolio tests
2. jury tests
3. theater tests |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| 8 common types of media options |
1. television
2. radio
3. magazine
4. newspapers
5. Yellow Pages
6. Internet
7. outdoors (ex: billboards)
8. direct mail |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| wasted coverage |
people outside the target market who see the message |
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nms528 Wed, 10 Dec 2008 01:07:41 GMT |
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| pulse (burst) schedule |
a flighting schedule combined w/ a continuous schedule because of increase in demand, heavy periods of promotion, or introduction of a new product (ex: Guavatini) |
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nms528 Wed, 10 Dec 2008 00:58:57 GMT |
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| flighting (intermittent) schedule |
periods of advertising are scheduled between periods of no advertising to reflect seasonal demand (ex: christmas trees) |
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nms528 Wed, 10 Dec 2008 00:58:57 GMT |
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| continuous (steady) schedule |
when seasonal factors are unimportant, advertising is run at a continuous or steady schedule throughout the year (ex: autos) |
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nms528 Wed, 10 Dec 2008 00:58:57 GMT |
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| 3 scheduling approaches in ad program |
1. continuous (steady)
2. flighting (intermittent)
3. pulse (burst) |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| cost per thousand (CPM) |
refers to the cost of reaching 1,000 individuals or households w/ the ad message in a given medium |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| gross rating points (GRP) |
reach x frequency |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| rating (in ad program) |
percentage of households in a market that are tuned in to a particular TV show or radio station |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| 2 conflicting goals of selecting right media in ad program |
1. maximizing exposure
2. minimizing costs |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| reach (in ad program) |
number of different people/households exposed to message
-TV and radio describe reach using the term "rating" |
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nms528 Wed, 10 Dec 2008 00:43:54 GMT |
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| humorous appeal |
imply either directly or subtly that the product is more fun or exciting than competitors' offerings
-cross-culture effectiveness may vary
-audiences gets bored after time |
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nms528 Wed, 10 Dec 2008 00:34:17 GMT |
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| sex appeal |
suggests to consumers that the product will increase the attractiveness of the user
-downfall: many times this tactic has little impact on how consumers think, feel, or act (only catches attention) |
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nms528 Wed, 10 Dec 2008 00:34:16 GMT |
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| fear appeal |
suggests to consumer that he/she can avoid some negative experience through the purchase and use of a product or service, or through a change in behavior |
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nms528 Wed, 10 Dec 2008 00:34:16 GMT |
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| 3 most common message appeals in an ad |
1. fear appeal
2. sex appeal
3. humorous appeal |
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nms528 Wed, 10 Dec 2008 00:34:16 GMT |
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| designing message in ad program |
focus on information and persuasion
-what product is, benefits, features, where to find it, price (all key parts)
-appeals to target audience (fear, sex, humor, etc.) |
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nms528 Wed, 10 Dec 2008 00:27:50 GMT |
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| specifying objectives in ad program |
-relate to a defined audience (prospective buyers)
-are measurable and for a given time frame
-need to choose vehicles, evaluate post-campaign
-trying to accomplish hierarchy of effects |
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nms528 Wed, 10 Dec 2008 00:27:50 GMT |
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| target audience in ad program |
characteristics of PROSPECTIVE BUYERS are likely to influence all aspects of an ad program
-must understand lifestyles, demographics, attitudes |
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nms528 Wed, 10 Dec 2008 00:27:50 GMT |
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| 6 steps in advertising program |
1. target audience
2. specify objectives
3. set budget
4. design message
5. select right media
6. scheduling/timing |
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nms528 Wed, 10 Dec 2008 00:27:50 GMT |
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| reminder institutional ads |
bring a company or firm's name to attention of the target market again |
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nms528 Tue, 09 Dec 2008 20:10:20 GMT |
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| institutional competitive ads |
promote the advantages of one product class over another
-used in markets where different product classes compete for same buyers (ex: autos, "Got Milk?" campaign) |
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nms528 Tue, 09 Dec 2008 20:06:39 GMT |
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| institutional pioneering ads |
used for announcements about what a company is, what it can do, and where to find it (similar to product pioneering ads only for company instead) |
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nms528 Tue, 09 Dec 2008 20:06:39 GMT |
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| advocacy ads |
state the company's position on an issue, or org. makes a request related to a particular action or behavior
-ex: beer or tobacco ads |
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nms528 Tue, 09 Dec 2008 20:06:39 GMT |
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| 4 types of institutional ads |
1. advocacy
2. pioneering
3. competitive
4. reminder |
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nms528 Tue, 09 Dec 2008 20:06:39 GMT |
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| pioneering ads (informational) |
-used in introductory stage of product life cycle
-informs target market what product is, what it can do, and where to buy it
-KEY = inform target market |
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nms528 Tue, 09 Dec 2008 20:00:39 GMT |
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| competitive and comparative ads (persuasive) |
-promotes a specific brand's features and benefits
-used in growth stage of product life cycle
-KEY = persuade target market to choose a company's brand over another |
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nms528 Tue, 09 Dec 2008 20:00:39 GMT |
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| reminder ads |
-used to reinforce previous knowledge of a product
-used in mature stage of product life cycle
-assures consumers they made the right choice
-fights cognitive dissonance |
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nms528 Tue, 09 Dec 2008 20:00:39 GMT |
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| objective and task (budget method) |
company determines promotion objectives, outlines the tasks to accomplish these objectives, and determines promotion costs
-best approach to budgeting |
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nms528 Tue, 09 Dec 2008 19:40:01 GMT |
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| all you can afford (budget method) |
allows money to be spent on promotion only after all other budget items are covered (conservative method)
-common method used |
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nms528 Tue, 09 Dec 2008 19:40:01 GMT |
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| competitive parity (budget method) |
matches the competitor's absolute level of spending or the proportion per point of market share
-use only if objectives are the same |
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nms528 Tue, 09 Dec 2008 19:40:01 GMT |
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| percentage of sales (budget method) |
amount of money spent is a percentage of past or anticipated sales
-common method used
-flexible with changes in sales |
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nms528 Tue, 09 Dec 2008 19:36:57 GMT |
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| 4 methods to setting promotion budget |
1. percentage of sales
2. competitive parity
3. all you can afford
4. objective and task |
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nms528 Tue, 09 Dec 2008 19:36:57 GMT |
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| promotion decision process (3 steps) |
1. developing (initial planning)
2. executing (implementation)
3. evaluating (posttest and changes made, control) |
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nms528 Tue, 09 Dec 2008 19:36:57 GMT |
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| adoption |
repeated purchase and use of product and brand based on favorable first experiece |
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nms528 Tue, 09 Dec 2008 19:36:57 GMT |
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| trial |
consumer's actual first purchase and use of product or brand |
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nms528 Tue, 09 Dec 2008 19:30:51 GMT |
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| evaluation |
consumer's appraisal of the product or brand on important attributes |
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nms528 Tue, 09 Dec 2008 19:30:51 GMT |
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| interest |
increase in consumer's desire to learn about some of the product features |
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nms528 Tue, 09 Dec 2008 19:30:51 GMT |
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| awareness |
consumer's ability to recognize and remember the product or brand name |
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nms528 Tue, 09 Dec 2008 19:30:51 GMT |
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| ancillary services |
how much after-buy support is needed? (personal selling) |
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nms528 Tue, 09 Dec 2008 16:57:00 GMT |
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| 5 factors affecting which promo elements to use |
1. target audience (consumer or intermediary)
2. stage in product life cycle
3. characteristics of product (complexity, risk, ancillary services)
4. decision stage of buyer
5. channel strategy used (push or pull) |
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nms528 Tue, 09 Dec 2008 16:57:00 GMT |
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| 2 main considerations in developing promotional mix |
1. balance of elements must be determined
2. coordinating a consistent promotional effort between all departments |
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nms528 Tue, 09 Dec 2008 16:57:00 GMT |
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| personal selling strengths & weaknesses |
STRENGTH = immediate feedback, very persuasive, can select audience, can give complex info
WEAKNESS = commission, extremely (most) expensive, messages may differ between salespeople, highest risk |
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nms528 Tue, 09 Dec 2008 16:57:00 GMT |
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| public relations strengths & weaknesses |
STRENGTH = no direct payment, often most credible in consumer's mind
WEAKNESS = difficult to get media cooperation, advertiser lacks control |
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nms528 Tue, 09 Dec 2008 16:57:00 GMT |
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| sales promotions strengths & weaknesses |
STRENGTH = effective at changing behavior in short run, stimulates sales, very flexible (consumer or trade oriented), provide extra value w/ purchase
WEAKNESS = easily abused, can lead to promo wars, easily duplicated, must be combined w/ another element |
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nms528 Tue, 09 Dec 2008 16:44:49 GMT |
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| direct mktg strengths & weaknesses |
STRENGTH = can be prepared quickly, facilitates relationship w/ customer (very direct)
WEAKNESS = declining customer response, database mgmt is expensive, concerns over privacy |
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nms528 Tue, 09 Dec 2008 16:44:04 GMT |
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| advertising strengths & weaknesses |
STRENGTH = efficient for reaching large numbers
WEAKNESS = high costs, difficult to receive good feedback |
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nms528 Tue, 09 Dec 2008 16:44:04 GMT |
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| mass vs. customized promotional elements |
MASS = advertising, PR, sales promotion
CUSTOMIZED = personal selling, direct mktg |
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nms528 Tue, 09 Dec 2008 16:44:04 GMT |
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| noise |
includes extraneous factors that can work against effective communication by distorting a message or the feedback received
-can be a simple error or misunderstanding |
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nms528 Tue, 09 Dec 2008 16:33:52 GMT |
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| feedback loop |
senders' interpretation of the response that indicates if the message was decoded properly and understood as intended |
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nms528 Tue, 09 Dec 2008 16:31:50 GMT |
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| field of experience |
similar understanding and knowledge of message; applied by both sender and receiver (overlap) |
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nms528 Tue, 09 Dec 2008 16:31:50 GMT |
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| decoding |
process of having receiver take a set of symbols and transform them back to an idea |
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nms528 Tue, 09 Dec 2008 16:31:50 GMT |
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| encoding |
process of having sender transform an idea into a set of symbols |
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nms528 Tue, 09 Dec 2008 16:31:50 GMT |
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| marketing ROI |
the application of modern measurement technologies to understand, quantify, and optimize marketing spending |
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nms528 Tue, 09 Dec 2008 06:03:31 GMT |
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| What does combining market-based groupings and product groupings create? |
matrix organization |
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nms528 Tue, 09 Dec 2008 06:03:31 GMT |
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| market-based groupings |
utilize specific customer segments (ex: banking, health care, etc.) |
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nms528 Tue, 09 Dec 2008 06:03:31 GMT |
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| geographical groupings |
sales territories are sub-divided according to geographical location (regional sales managers, district managers, etc.) |
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nms528 Tue, 09 Dec 2008 05:58:32 GMT |
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| functional groupings |
manufacturing, marketing, finance (examples)
-represent different depts. w/in a firm |
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nms528 Tue, 09 Dec 2008 05:58:32 GMT |
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| product line groupings |
employee unit responsible for specific product offerings |
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nms528 Tue, 09 Dec 2008 05:58:32 GMT |
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| staff positions |
people who have the authority and responsibility to advise people in line positions but CANNOT issue direct orders to them |
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nms528 Tue, 09 Dec 2008 05:58:32 GMT |
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| line positions |
managers, such as senior business manager, that have authority and responsibility to issue orders to the people who report them |
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nms528 Tue, 09 Dec 2008 05:55:32 GMT |
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| action item list |
an aid to implementing a marketing plan consisting of:
1. task
2. person responsible for completing task
3. date to finish task
4. what is to be delivered |
0 |
nms528 Tue, 09 Dec 2008 05:55:32 GMT |
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| product/program champion |
able and willing to cut red tape and move program forward (move back and forth between big picture and specific detail)
-brash in overcoming org. hurdles |
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nms528 Tue, 09 Dec 2008 05:55:32 GMT |
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| synergy analysis |
seeks opportunities by finding the optimum balance between marketing efficiencies vs. R&D manufacturing efficiencies |
0 |
nms528 Tue, 09 Dec 2008 05:55:32 GMT |
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| diversification analysis |
the search for growth opportunities from among current and new markets as well as current and new products |
0 |
nms528 Tue, 09 Dec 2008 05:50:35 GMT |
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| differentiation focus strategy |
requires products to have significant points of difference to target one or only a few market segments |
0 |
nms528 Tue, 09 Dec 2008 05:50:35 GMT |
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| cost focus strategy |
controlling expenses and lowering product prices target at a narrow range of market segments |
0 |
nms528 Tue, 09 Dec 2008 05:50:35 GMT |
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| differentiation strategy |
requires products to have significant points of difference in product offerings, brand image, higher quality, advanced technology, or superior service to charge a higher price while targeting broad array of marketing segments |
0 |
nms528 Tue, 09 Dec 2008 05:50:35 GMT |
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| cost leadership strategy |
focuses on reducing expenses and lowers product prices while targeting a broad array of market segments |
0 |
nms528 Tue, 09 Dec 2008 05:46:48 GMT |
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| generic business strategy |
can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage |
0 |
nms528 Tue, 09 Dec 2008 05:46:48 GMT |
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| share points |
percentage of points of market share |
0 |
nms528 Tue, 09 Dec 2008 05:46:48 GMT |
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| sales response function |
relates the expense of marketing effort to the marketing results obtained
-annual sales
-profit
-units sold
-level of awareness |
0 |
nms528 Tue, 09 Dec 2008 05:46:48 GMT |
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| salesforce automation |
use of technology to make the sales function more effective and efficient |
0 |
nms528 Tue, 09 Dec 2008 05:42:49 GMT |
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| sales quota |
specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated period |
0 |
nms528 Tue, 09 Dec 2008 05:42:49 GMT |
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| account management policies |
specify whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out |
0 |
nms528 Tue, 09 Dec 2008 05:42:49 GMT |
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| major account management (aka key account mgmt) |
practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships |
0 |
nms528 Tue, 09 Dec 2008 05:42:49 GMT |
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| sales plan |
statement describing what is to be achieved and where and how the selling effort of salespeople is to be directed |
0 |
nms528 Tue, 09 Dec 2008 05:39:06 GMT |
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| consultative selling |
focuses on problem definition, where the salesperson serves as an expert on problem recognition and selling |
0 |
nms528 Tue, 09 Dec 2008 05:39:06 GMT |
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| adaptive selling |
a need-satisfaction sales presentation that involves adjusting the presentation to fit the selling situation |
0 |
nms528 Tue, 09 Dec 2008 05:39:06 GMT |
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| personal selling process |
sales activities occurring before and after the sale itself, consisting of six stages:
1. prospecting
2. pre-approach
3. approach
4. presentation
5. close
6. follow up |
0 |
nms528 Tue, 09 Dec 2008 05:39:06 GMT |
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| order getter |
salesperson who sells in a conventional sense and identifies prospective customers, provides customers with info, persuades customers to buy, closes sales, and follows up on customers' use of a product or service |
0 |
nms528 Tue, 09 Dec 2008 05:35:37 GMT |
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| order taker |
processes routine orders or re-orders for products that were already sold by the company |
0 |
nms528 Tue, 09 Dec 2008 05:35:37 GMT |
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| relationship selling |
practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time |
0 |
nms528 Tue, 09 Dec 2008 05:35:37 GMT |
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| sales management |
planning the selling program and implementing the personal selling efforts of the firm |
0 |
nms528 Tue, 09 Dec 2008 05:35:37 GMT |
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| publicity tools |
methods of obtaining non-personal presentation of an organization, good, or service w/out direct cost |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| cooperative advertising |
advertising programs by which a manufacturer pays a percentage of the retailer's local advertising expense for advertising the manufacturer's products |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| trade-oriented sales promotions |
sales tools used to support a company's advertising an personal selling efforts directed to wholesalers, distributors, or retailers |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| product placement |
using a brand name product in a movie, television show, video, or commercial for another product |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| consumer-oriented sales promotions |
sales tools, such as coupons, sweepstakes, and samples, used to support a company's advertising and personal selling efforts directed to ultimate consumers |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| posttests |
tests concluded after an ad has been shown to the target audience to determine whether it has accomplished its intended purpose |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| pretests |
tests conducted before an ad is placed to determine whether it communicates the intended message or to select among alternative versions of an ad |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
|
| infomercials |
program-length (30 min) ads that take an educational approach to communication w/ potential customers |
0 |
nms528 Tue, 09 Dec 2008 05:30:58 GMT |
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| institutional ads |
ads designed to build goodwill or an image for an organization, rather than promote a specific good or service |
0 |
nms528 Mon, 08 Dec 2008 05:48:54 GMT |
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| product ads |
ads that focus on selling a good or service; forms include pioneering (informational), competitive (persuasive), and reminder |
0 |
nms528 Mon, 08 Dec 2008 05:48:54 GMT |
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| traffic generation |
outcome of direct marketing offer designed to motivate people to visit a business |
0 |
nms528 Mon, 08 Dec 2008 05:42:58 GMT |
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| lead generation |
result of direct marketing offer designed to generate interest in a product or a service and a request for additional information |
0 |
nms528 Mon, 08 Dec 2008 05:42:58 GMT |
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| direct orders |
the result of direct marketing offers that contain all the information necessary for a potential buyer to make a decision to purchase and complete the transaction |
0 |
nms528 Mon, 08 Dec 2008 05:42:58 GMT |
|
| hierarchy of effects |
sequence of stages a prospective buyer goes through: awareness, interest, evaluation, trial, and adoption |
2 |
nms528 Mon, 08 Dec 2008 05:40:19 GMT |
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| pull strategy |
directing the promotional mix at ultimate consumers to encourage them to ask the retailer for the product |
0 |
nms528 Mon, 08 Dec 2008 05:39:39 GMT |
|
| push strategy |
directing the promotional mix to channel members to encourage them to order and stock a product
-personal selling/sales promotion to intermediaries |
1 |
nms528 Tue, 09 Dec 2008 16:57:57 GMT |
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| direct marketing |
promotional element that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet |
0 |
nms528 Mon, 08 Dec 2008 05:39:39 GMT |
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| sales promotion |
a short-term offer designed to arouse interest in buying a good or service
-less regulated in US than rest of world
-need to integrate w/ other elements
-customer must perform some activity in order to be eligible to receive value |
1 |
nms528 Wed, 10 Dec 2008 01:12:46 GMT |
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| publicity |
non-personal, indirectly paid presentation of an organization, good, or service |
0 |
nms528 Mon, 08 Dec 2008 05:36:57 GMT |
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| public relations |
form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, potential customers, stakeholders, suppliers, employees, and others about a company and its products or services |
0 |
nms528 Mon, 08 Dec 2008 05:36:57 GMT |
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| personal selling |
two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person or group's purchase decision
-almost every occupation has some aspect of this |
1 |
nms528 Wed, 10 Dec 2008 01:50:13 GMT |
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| advertising |
any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor |
0 |
nms528 Mon, 08 Dec 2008 05:36:57 GMT |
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| communication |
process of conveying a message to others |
0 |
nms528 Mon, 08 Dec 2008 05:36:57 GMT |
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| integrated marketing communications |
concept of designing marketing communications programs that coordinate all promotional activities to provide a consistent message across all audiences (provides unified brand) |
1 |
nms528 Tue, 09 Dec 2008 16:34:29 GMT |
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| promotional mix |
combination of one or more of the communication tools used to inform, persuade, or remind prospective buyers |
0 |
nms528 Mon, 08 Dec 2008 05:36:57 GMT |
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