BUSN 311: Final Exam (Ch. 14-17)

offer producers greater efficiency in making goods available to target markets through contracts, experience, specialization, and scale of operations, intermediaries usually offer the firm more than it can achieve on its own

any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor

setting the promotion budget at the level management thinks the company can afford

cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities

setting the promotion budget to match competitors outlays

creating, inspiring, and sharing brand messages and conversations with and among consumers across a fluid mix of paid, owned, earned, and shared channels

engaged directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships

the five customer journey stages on the path from awareness of a brand to advocating it to others: awareness, appeal, ask, act, and advocacy

carefully integrating and coordinating the companies many communications channels to deliver a clear, consistent, and compelling message about the organization and its products

media that carry messages without personal contact or feedback, including major media, atmospheres, and events

developing the promotion budget by (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget

setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

channels through which two or more people communicate directly with each other, including face-to-face, on the phone, via mail or email, or even through an internet “chat”

personal presentation by the firms sales force or the purpose of engaging customers, making sales, and building customer relationships

the specific blend of promotional tools that the company uses to persuasively communicate customer value and build customer relationships

building good relations with the company's various publics by obtaining favorable publicity, building a good corporate image, and creating favorable events, stories, and other marketing content

a promotional strategy that calls for spending a lot on consumer advertising, promotion, and other content to induce final consumers to engage with and buy the product, creating a demand vacuum that “pulls” the product through the channel

a promotion strategy that calls for using the salesforce and trade promotion to push the product through channels. The produced promotes the product to channel members who in turn promote it to final consumers

short-term incentives to encourage the purchase or sale of a product or a service

a marketing services firm assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs

the dollars and other resources allocated to a product or a company advertising program

the vehicles through which advertising messages are delivered to their intended audiences

a specific communication task to be accomplished with a specific target audience during a specific period of time

the strategy by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media

the compelling “big idea” that will bring an advertising message strategy to life in a distinctive and memorable way

the approach, style, tone, words, and format used for executing an advertising message

advertising or other brand-produced online content that looks in form and function like the other natural content surrounding it on a web or social media platform

the net return on advertising investment divided by the costs of the advertising investment

the sales step in which a salesperson meets the customer for the first time

sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople

sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customers relationships

a sales force organization in which salespeople specialize in selling only to certain customers or industries

creating a brand-marketing event or serving as a sole or participating sponsor of events created by others

the sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business

the sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying

salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers

salespeople who travel to call on customers in the field

the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call

the sales step in which a sales tells the “value story” to the buyer, showing how the companies offer solves the customers problems

the sales step in which a salesperson or company identifies qualified potential customers

analyzing, planning, implementing, and controlling sales force activities

an individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

a standard that states the amount a salesperson should sell and how sales should be divided among the companies products

the steps that salespeople follow when selling, which include prospecting and qualifying, pre-approach, approach, presentation, and demonstration, handling objections, closing, and follow-up

using online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance

using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts

a sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the companies full line

sales promotion tools used to persuade resellers to carry a brand, give it self space, and promote it in advertising

include raw materials, suppliers, components, parts, information, finances, and expertise to create a product or service

include the marketing channels or distribution channels that look towards the customer

“make and sell” view includes the firm’s raw materials, productive inputs, and factory capacity

“sense and respond” view suggests that planning starts with the needs of the target customer and the firm responds to these needs by organizing a chain of resources and activities with the goal of creating customer value

1. intensive distribution

2. exclusive distribution

3. selective distribution

stocking the product in as many outlets as possible

giving a limited number of dealers the exclusive right to distribute the company’s products in their territories
→ ex. STIHL chainsaws

the use of more than one but few than all of the intermediaries that are willing to carry the company’s products

a marketing channel with no intermediary levels

channel containing one or more intermediary levels

a disagreement over goals, roles, and rewards by channel members

when the seller requires that the sellers not handle conpetitor’s products

where the producer or seller limits territory

agreements where the dealer must take most or all of the line

includes all activities involved in selling goods and services to those buying for resale or business use

includes all activities in selling products or services directly to final consumers for their personal use

businesses whose sales come primarily from retailing

used when introducing a new product category
→ the objective is to build primary demand

directly or indirectly compares the brand with one or more other brands

is important with increased competition to build selective demand

is important with mature products to help maintain customer relationships and keep customers thinking about the product

a measure of the percentage of people who are exposed to the ad campaign during a given period of time

a measure of how many times the average person in the target market is exposed to the message

the qualitative value of the message exposure through a given medium