integrated marketing communications program
the concept of designing marketing communications programs that coordinate all promotional activities (advertising, personal selling, sales promotion, public relations, and direct marketing) to provide a consistent message across all audiences. Is a key e
The combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them to try it, and (3) remind them later about the benefits they enjoyed by using the product. p. 441
6M promotion model
mission, market, message, methods, money,measurement
a process of reclaiming recyclable and reusable materials, returns, and reworks from the point of consomption or use for repair, remanufacturing, redistribution, or disposal. Pg 406
seller communication styles
Supportive, Emotive, Reflective, and Director
Type of communicator style: appears quite busy, may give impression of not listening, displays rather serious attitude, likes to maintain control;
controls emotional expression, displays preference for order, express measured opinions, difficult to get to knowx
The practice if building brands that appeal directly to a consumer's emotional state, needs, and aspirations.
gaining public awarness for a product or service through media
appears to be quiet and reserved, listens attentyively, tends to avoid use of power, makes thoughtful decisions in deliberate manner; style of com. selling
an individual, usually with training in finance and marketing, responsible for analysing and evaluating a company's marketing expenditures.
types of promotion
Types of promotion include consumer oriented and and trade oriented sales promotion
paid form of communication, delivered through media from an identifiable source, about an organization, product, service, or idea, designed to persuade the receiver to take some action, now or in the future.
The two-way flow of communcation between a buyer and a seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision. p. 445, 532
the practice of managing the spread of information between an individual/organization and the public
difference between advertising and publicity
Advertising involves paying for extensive renounding publicity of a company or product. Publicity is getting your company or product more well known. p445
a short term inducement of value offered to arouse interest in buying a product or service pg. 447
a short-term inducement
offered in the sales promotion to arouse interest in buying the product or service pg. 447
A public service announcement
a message in the public interest disseminated by the media without charge, with the objective of raising awareness, changing public attitudes and behavior towards a social issue
product life cycle
Describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline. p. 272
creating a brand identity with imagery and slogans. involves messaging through social media or personal email.
promotional channel strategy
This term now broadly encompasses most direct promotional techniques such as encouraging retailers to stock your product, designing point of sale materials or even selling face to face. New businesses often adopt a push strategy for their products in orde
directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product pg. 452
A firm directs the promotional mix at ultimate consumers to encourage them to ask retailers for the product , who then orders it from wholesalers or the firm itself Pg. 453
SPIN questioning technique
-Understanding the customer (Situation) -Identifying the customer's main problem(s) or pain (Problem) -Asks the customer how significant this problem is (Implication) -Confirms how important or valuable a solution would be for the customer (Need-Payoff)
Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. p. 39
2nd part of spin; identifying the customers main problems or pain
A market projection is an important component of a business plan. It is necessary for anyone who wishes to start a business or anyone who is about to seek financing for a business. A market projection states the future of the market or the industry to whi
The main implication of a marketing strategy is the orientation toward meeting customer needs that results in increased customer satisfaction. ... Such a marketing strategy is designed to gain new customers as you build a more favorable reputation.
Confirms how important or valuable a solution would be for the customer
Measured results of advertising using communication objectives in the short term, ultimately advertising expenditures are always accountable to sales results in the long term.
The number of different people or households exposed to an advertisement. p. 478
The number of times an individual is exposed to an advertisement before a response is made
advertising medium (types, advantages and disadvantages)
Marketing and promotion can take place on a variety of mediums or platforms. The traditional mediums include print, radio, television, direct mail and telephone; while the online mediums include email, social media, pay per click marketing, search engine
job of sales managers
sales management involves planning the selling program and implementing and controlling the personal selling effort of the firm
Processes routine orders or reorders for products that were already sold by the company Pg. 535
salesperson who increases the firm's sales revenue by acquiring orders from new customers and more orders from the existing customers.
Potential customer of a business who has availible financial resources to make a purchase, as well as the need or desire for the product or service being sold, and the authority to buy.
an individual or organization interested in what you are selling
gatekeepers control the flow of information in the buying center. Purchasing personnel, technical experts, and secretaries can all keep salespeople or information from reaching people performing the other roles.
individuals who exert direct or indidrect social influence over others pg 126
an individual or organization interested in what you are selling
canned sales presentation
memorized standardized messages conveyed to every prospect
A need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information. p. 542
the process of making a sale
planning the selling program and implementing and evaluating the personal selling effort of the firm pg. 532
sales plan implementation
steps taken to close a sale from beginning to end
Output-related sales objectives
selling objectives can be output related and focus on dollar or unit sales volume, number of new customers added and profit
dollar or unit sales volume
a measurment included in output related sales objectives
Advertising a product or brand, generating sales, and creating brand loyalty. It is a way to manage sales by offering a promotion or perceived benefit that helps to encourage the buyer to make the purchase.
the price of 1000 ad impressions on a webpage
A straight commission compensation plan
with a straight commission compensation plan a salesperson's earnings are directly tied to the sales or profit generated
An "employee compensation plan" collectively refers to all the components in addition to the manner in which the compensation is paid and for what purpose employees receive case bonuses, salary increases and incentives
agent or broker
independent firms or individuals whose principal function is to bring buyers and sellers together to make sales Pg. 435
organizations that assist in moving goods and services from producers to businesses (B2B) and from business to consumers (B2C).
a direct channel
A situation in which the producer sells a product directly to a consumer without the help of intermediaries.
buying products for resale to customers, distributing products to customers and supporting sales to customers through financing and other services.
an intermediary who sells to consumers
an intermediary who sells to other intermediaries, usually to retailers; term usually applies to consumer markets
first level of marketing channels; starts of at producers moves through channels and reaches consumers
trader who buys from the producers and sells to the consumers
When a merchant decides to strategiacally distribute their products to consumers via multiple channels, such as directly through physical stores, an online marketplace like Amazon, or through another large retial chain.
(e.g. having products sold both through conventional channels and through the internet or factory outlet stores)
an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product pg. 391
more than one product through the same channel?
strategic channel alliance
whereby one firms marketing channel is used to sell another firms products
when a producer owns the intermediary at the next level down in the channel
The process in which a company purchases or internally produces segments of its supple chain. IN other words, it is the acquisition of controlled subsidiareies aimed at the creation or production of certain inouts that could be utilized in the production.
the practice of the right to use a firm's business model and brand for a prescribed period of time
The three degrees of distribution density
three degrees of distribution density exist: intensive, exclusive, and selective
target market coverage
achieving the best coverage of the target market requiring attention to the density, which is number of stores in a geographical area
displacement of market middlmen who trasitionally are intermediaries between producers and consumers by a new direct relationship between manufacturers and content originators with their costomer
A supply chain management component that is used to meet customer demands through the planning, control, and impleemtation of the effective movement and sroage of relatied information, goods, and services from origin to destination.
Supply chain management
the managment of the flow of goods and services. involves the storage and movement of raw materials
responsive supply chain
Responsiveness can be defined as the ability of the supply chain to respond purposefully and within an appropriate timeframe to customer requests or changes in the marketplace
puppy dog close
seller encourages product trial ("Why don't you take the puppy home for the weekend and see if your kids like her. If not, you can return Suzie on Monday."
involves asking the prospect to make a decision on some aspect of the purchase.
The porcupine close is a techniquie of closing a business deal where a customer asks a question and the seller answers back with a question to be able to find out more information as well as to take control of the situation. Ex. Customer: "Does it come in
way to overcome the "I want to think about it" time objection
need to find out the reason why the customer is not making the decision now
Social media outcomes/results
Used as a way to market products or services to potential customers?
focus on presenting the benefit that satisfies the need
make it a priority to get to know the what the customer really needs/wants