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B A 2020 - Chp 16 notes

by: Julia Notetaker

B A 2020 - Chp 16 notes B A 2020

Marketplace > Wayne State University > Business > B A 2020 > B A 2020 Chp 16 notes
Julia Notetaker
GPA 3.0
Introduction to Business
Sherilynn Perelli

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About this Document

There weren't much information like there were in two previous business chapters. But, i typed some points i could find and mostly definitions that possibly will be on the 2nd midterm and as well a...
Introduction to Business
Sherilynn Perelli
Study Guide
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This 3 page Study Guide was uploaded by Julia Notetaker on Saturday October 10, 2015. The Study Guide belongs to B A 2020 at Wayne State University taught by Sherilynn Perelli in Summer 2015. Since its upload, it has received 53 views. For similar materials see Introduction to Business in Business at Wayne State University.

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Date Created: 10/10/15
Chapter 16 Using Effective Promotions Promotion Mix Definition the combination of promotional tools an organization uses IMC Integrated Marketing Communication Definition a technique that combines all the promotional tools into one comprehensive unified promotional strategy Refer to Fig 162 Advertising Definition paid nonpersonal communication through various media by organization and individuals who are in some way identified in the advertising message Major categories of advertising refer to fig 163 on pg 438 Infomercial Definition a fulllength TV program devoted exclusively to promoting goods or services Interactive Promotion Definition promotion process that allows marketers to go beyond a monologue where sellers try to persuade buyers to buy things to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationships Personal Selling Providing Personal Attention Personal Selling Definition the facetoface presentation and promotion of goods and services Steps in the Selling process There are seven steps in the selling process 1 Prospect and Qualify researching potential buyers and choosing those most likely to buy a Qualifying Definition in the selling process making sure that people have a need for the product the authority to buy and the willingness to listen to a sales message b Prospect Definition a person with the means to buy a product the authority to buy and the willingness to listen to a sales message 2 Preapproach the selling process may take a long time and gathering info before you approach the customer is critical Before making a sales call you must do some further research 3 Approach it is so important because you want to give an impression of friendly professionalism create rapport build credibility and start a business relationship 4 Make a Presentation 5 Answer Objectives 6 Close the Sale Trial Close Definition a step in the selling process that consists of a question or statement that moves the selling process toward the actual close 7 Follow Up Public Relations Building Relationships Public relations PR Definition the management function that evaluates public attitudes changes policies and procedures in response to the public s requests and executes a program of action and information to earn public understanding and acceptance There are three steps a Listen to the public b Change policies and procedures c Inform people you re responsive to their needs Pubhcny Definition any information about an individual product or organization that s distributed to the public through the media and that s not paid for or controlled by the seller Sales Promotion Giving buyers incentives Definition the promotional tool that stimulates consumer purchasing consumer purchasing and dealer interest by means of shortterm activities Sampling Definition a promotional tool in which a company lets consumers have a small sample of product for no charge Wordofmouth Definition a promotional tool that involves people telling other people about products they ve purchased There are five different types a Viral Marketing Definition the term now used to describe everything from paying customers to say positive things on the internet to setting up multilevel selling schemes whereby consumers get commissions for directing friends to specific websites b Blogging Definition an online diary web log that looks like a web page but is easier to create and update by posting text photos or links to other sites c Podcasting Definition a means of distributing audio and video programs via the internet that lets users subscribe to a number of files also known as feeds and then hear or view the material at the time they choose d Email Promotions e Mobile Media Promotional Strategies a Push Strategy Definition promotional strategy in which the producer uses advertising personal selling sale promotion and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise b Pull Strategy Definition promotional strategy in which heavy advertising and sales promotion effects are directed toward customers so that they ll request the products from retailers c Pick Economy Definition customers who pick out their products from online outlets or who do online comparison shopping


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