Advertising, PR, and Sales Promotions (5)/ Personal Selling (6)

What is advertising?

A business practice where a company pays to place its messaging of branding in a particular location.

What are some reasons to advertise?

To educate customers, convince them of product superiority, improve brand perception, generate desire, exhibit new applications, retain customers, and establish corporate culture.

What are the types of traditional advertising?

Print and broadcast media, such as newspaper ads, TV commercials, and radio infomercials.

What is retail advertising?

Ads and product placement within retail stores.

What is online advertising?

Placing ads on the internet, including contextual ads, banners, and sponsored content.

What is mobile advertising?

Placing ads on mobile phones, such as automated dialers and app download banners.

What is outdoor advertising?

Placing ads on outside structures in high-traffic areas, like billboards and branded vehicles.

What is pay-per-click (PPC) advertising?

Online ads designed to drive traffic to a website, where companies pay only when users click the link.

What is the first step in planning an advertisement campaign?

Set advertising objectives.

What is a push strategy in advertising?

Proactively places messages in front of audiences to create exposure and prompt immediate sales.

What is a pull strategy in advertising?

Creates brand loyalty and lasting customer relationships through engaging content.

How can advertising budgets be determined?

Based on percentage of sales, all you can afford, return on investment, competitive parity, or objective and task.

What elements are important in message creation for advertising?

Headline, subheading, body copy, visuals, and call to action.

What does 'reach' mean in media selection?

The number of potential customers who see the ad.

What is the purpose of pretesting ads?

To test ads with a small segment of the target audience before full media spend.

What is brand recognition?

The percentage of the audience that can identify a brand from visual or verbal cues.

What is the conversion rate in advertising metrics?

The percentage of the audience that completes a desired action, such as a click or purchase.

What are some challenges advertisers face in the digital age?

Banner blindness, ad fatigue, and privacy backlash.

What are two advantages of generative AI in advertising?

Real-time ad creation and contextual hyper-personalized ads.

What is the definition of Public Relations (PR)?

Building and maintaining a favorable public image through earned media.

What is the role of PR in damage control?

To manage crises and negative publicity.

What ethical issues are associated with advertising?

Honesty, advertising harmful products, targeting minors, using controversial tactics, exploiting vulnerabilities, and privacy.

What is personal selling?

One-to-one interaction between a customer and a company representative focused on building relationships and understanding customer needs.

What types of products are ideal for personal selling?

Complex products requiring explanation, high-price items needing reassurance, and customizable products tailored to unique situations.

What is B2C personal selling?

Selling to individuals who do not resell to others, such as in department stores, real estate, and car dealerships.

What is B2B personal selling?

Selling to businesses that resell to others, often involving more complex sales processes.

What are order takers in sales?

Salespeople who process routine orders.

What are order getters?

Salespeople who find and persuade new customers.

What role do support personnel play in sales?

They assist the sales process without directly closing deals, such as technical specialists.

What is team selling?

A cross-functional approach for complex sales involving multiple team members.

What is the first step in the personal selling process?

Identification of new opportunities, including prospecting and qualifying prospects.

What does B.A.N.T stand for in qualifying prospects?

Budget, Authority, Need, and Timeline.

What is involved in the needs assessment step of personal selling?

Engaging decision-makers to uncover detailed requirements and pain points.

What is the purpose of the proposal development step?

To craft tailored solutions that address the customer's unique challenges.

What is the presentation step in the persuasion phase?

Formally proposing solutions that address the prospect's needs using visuals and case studies.

What is trial closing in the sales process?

Asking strategic questions to test the prospect's readiness to close a deal.

What is relationship management in sales?

Coordinating product delivery, following up on customer satisfaction, and evaluating performance.

What are the five main styles of sales presentations?

Stimulus-response, formula selling (AIDA), need/satisfaction, adaptive selling, and consultative selling.

What does sales force automation (SFA) do?

Automates key sales tasks like customer acquisition, lead generation, and sales forecasting.

What is customer relationship management (CRM)?

A system that strengthens relationships and drives long-term value through interaction tracking and customer retention.

What are productivity metrics in sales performance?

Metrics that measure efficiency, such as % time on selling activities and number of leads generated.

What are lead response metrics?

Metrics that measure speed, including time to contact new leads and response time to questions.

What are effectiveness metrics in sales?

Metrics that measure outcomes, such as opportunity win rate and conversion ratios.