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MKT 301 - Ch. 16 - University of Louisville

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Disadvantages of Personal Selling

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4 years ago

Date created

Mar 1, 2020

Cards (37)

Section 1

(37 cards)

Disadvantages of Personal Selling

Front

Expensive, labor intensive, and time consuming.

Back

Word-of-mouth communication

Front

personal informal exchanges of communication that customers share with one another about products, brands, and companies

Back

Communication

Front

A sharing of meaning through transmission of information

Back

Advertising

Front

Paid, nonpersonal communication about an organization and its products, transmitted through mass media.

Back

Goal of Promotion

Front

stimulate product demand and build customer relationships.

Back

Public Relations

Front

A broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders.

Back

Product Placement

Front

the strategic location of products or product promotions within entertainment media content to reach the product's target market

Back

Promotion

Front

Communication to build and maintain relationships by informing and persuading one or more audiences.

Back

Primary Demand

Front

Demand for product category rather than specific brands

Back

Retain Loyal Customers

Front

Maintains long-term customer relationships. Keeping current customers is less costly. Includes: frequent-user programs, or special offers for existing customers.

Back

Public Relations Tools

Front

- Publicity - Annual Reports - Brochures - Event Sponsorships - Sponsorship of socially responsible programs - Press releases/Conferences/Feature articles

Back

Sales Promotion

Front

An activity or material that acts as a direct inducement, offering added value or incentive for the product to resellers, salespeople, or consumers.

Back

Viral Marketing

Front

strategy to get consumers to share a marketer's message, often through e-mail or online videos, in a way that spread dramatically and quickly

Back

Examples of Sales Promotion

Front

free samples, games, rebates sweepstakes, contests, premiums, and coupons.

Back

Create Awareness

Front

Initiated product adoption process for brands, product features, or image-related issues

Back

Reduce Sales Fluctuations

Front

Stimulate sales during slumps

Back

Buzz Marketing

Front

attempt to incite publicity and public excitement surrounding a product through a creative event

Back

Possible Objectives of Promotion

Front

1. Create Awareness 2. Stimulate Demand 3. Encourage Product Trial 4. Identify Prospects 5. Retain loyal customers 6. Facilitate reseller support 7. Combat competitive promotional efforts 8. Reduce sales fluctuations

Back

Personal Selling

Front

Paid, personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation.

Back

Combat Competitive Promotional Efforts

Front

Offset or lessen the effect of competitor's activities. Doesn't necessarily increase sales. Used in highly competitive consumer markets.

Back

Integrated Marketing Communications

Front

A consistent message to customers with a synergy of promotional elements.

Back

Channel Capacity

Front

The limit on the volume of information a communication channel can handle effectively

Back

Advantages of Personal Selling

Front

More specific form of advertising. Greater impact on consumers. Immediate Feedback

Back

Push Policy

Front

promoting a product only to the next institution down the marketing chain

Back

Pioneer Promotion

Front

Stimulates primary demand, notifies consumers about a new product.

Back

Disadvantages of Advertising

Front

Absolute dollar amount is very high. Provides no feedback. Difficult to measure effect.

Back

Product Trials

Front

If consumers stall in evaluation stage, marketers use these methods: - Free Samples - Coupons - Test Drives - Limited free-use offers - Contests - Games

Back

Kinesic communication

Front

Movement of the head, eyes, arms, hands, legs or torso

Back

Proxemic communication

Front

Varying the physical distance in face-to-face interactions

Back

Selective Demand

Front

Demand for a specific brand.

Back

Tactile Communication

Front

touching

Back

Stimulate Demand

Front

Methods for Primary Demand, Pioneer Promotion, and Selective Demand

Back

Pull Policy

Front

promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel

Back

Communication Process

Front

1. Source 2. Coded Message 3. Communications Channel 4. Decoded Message 5. Receiver or Audience

Back

Promotion Mix

Front

Combination of promotional methods used to promote a specific product.

Back

Advantages of Advertising

Front

Cost-efficient when it reaches a vast number of people.

Back

Elements of the Promotion Mix

Front

1. Personal Selling 2. Advertising 3. Public Relations 4. Sales Promotion

Back