Untitled Flashcards Set

Advertising

Paid communication intended to inform, persuade, or remind consumers about products or services.

Advertising Objectives

Goals that guide advertising efforts, such as increasing awareness, generating interest, or driving sales.

Informative Advertising

Advertising focused on providing information about a product or service.

Persuasive Advertising

Advertising aimed at convincing consumers to choose a specific brand or product.

Comparative Advertising

Advertising that directly compares a product to competitors.

Reminder Advertising

Advertising designed to remind customers of a product or service.

Reinforcement Advertising

Ads aimed at reassuring customers they made the right purchase.

Institutional Advertising

Promotes a company’s values or reputation rather than specific products.

Advocacy Advertising

Advertising that promotes a social, political, or environmental cause.

Native Advertising

Ads that blend seamlessly with the content of the platform they appear on.

Advertising Campaign

A coordinated series of advertisements with a unified theme or goal.

Advertising Metrics

Measurements used to evaluate ad performance, such as reach and frequency.

Frequency

The number of times an individual is exposed to an ad within a time period.

Reach

The total number of unique individuals exposed to an ad.

Rational Appeal

Ads that use logic and facts to persuade consumers.

Emotional Appeal

Ads that evoke emotions to influence behavior.

Puffery

Exaggerated or subjective claims in advertising not meant to be taken literally.

Advertising Ethics

Guidelines to ensure advertising is truthful, fair, and socially responsible.

Coupons

Vouchers offering discounts on products or services.

Cents Off

Discounts in the form of a reduced price on the packaging.

Rebates

Partial refunds offered after a purchase.

Samples

Free product trials to encourage purchases.

Premiums

Free or low-cost items given as incentives with purchases.

Contests

Promotions requiring participants to compete for prizes.

Sweepstakes

Random drawings for prizes, requiring no purchase or skill.

Loyalty Programs

Rewards programs encouraging repeat business.

Merchandise Allowance

A promotional incentive offered by manufacturers to retailers to encourage them to promote or display the manufacturer’s product.

Cooperative Advertising

An arrangement where manufacturers and retailers share the cost of advertising a product.

Dealer Loader

Incentives provided by manufacturers to retailers to encourage bulk purchasing or product promotion.

Employee Sales Promotion

Incentives or training provided to employees to improve sales performance.

Public Relations (PR)

Managing a company’s communication with the public to build a positive image and maintain good relationships.

Annual Reports

Documents outlining a company’s financial and operational achievements over the year.

Speeches

Formal presentations to communicate messages directly to an audience.

Blogs

Online articles written to share expertise or insights and engage audiences.

Brochures

Printed or digital materials summarizing a company’s offerings.

Event Sponsorships

Financial or in-kind support of an event to promote a brand.

Press Release

Official statements issued to the media to share news or announcements.

Publicity

Free media coverage generated by a company’s activities or news.

Offline Publicity

Publicity through traditional media like newspapers or TV.

Online Publicity

Publicity through digital platforms like blogs and social media.

Image Repair Theory

A communication strategy used to address and recover from negative publicity.

Crisis Communication

Strategic communication during emergencies to minimize harm and maintain public trust.

Personal Selling

Direct interaction between a salesperson and a customer to make a sale.

Relationship Selling

Building long-term relationships with customers to encourage loyalty and repeat business.

Prospecting

Identifying potential customers.

Pre-Approach

Gathering information about prospects before interaction.

Approach

Initial contact with a potential customer.

Sales Presentation

Explaining the product’s benefits to the customer.

Objections

Customer concerns or doubts raised during the sales process.

Closing

Securing the customer’s agreement to purchase.

Follow-Up

Checking in after the sale to ensure customer satisfaction.

Sales Management

Overseeing and directing a company’s sales team to achieve goals.

Captive Salespeople

Employees dedicated to selling only their company’s products.

Independent Sales Representative

Freelancers selling products for multiple companies.

Inside Salespeople

Sales staff who work from the company’s office or remotely.

Outside Salespeople

Salespeople who visit clients in person.

Sales Goals/Objectives

Targets set for sales teams to achieve.

Territory Management

The process of organizing and managing sales efforts within specific geographic or market territories.

Geographic Approach

Organizing sales territories based on geographical boundaries.

Product Approach

Organizing sales territories based on specific product lines.

Customer Approach

Organizing sales territories based on customer segments or types.

Combination Approach

A mix of geographic, product, and customer approaches for optimal coverage.

Sales Implementation

The process of executing the sales plan to achieve organizational goals.

Salary

A fixed compensation paid to employees regularly.

Incentives

Additional rewards offered to motivate and boost performance.

Intrinsic Incentives

Internal motivators like job satisfaction or personal growth.

Extrinsic Incentives

External rewards like money or recognition.

Compensation Plan

A structured plan outlining how employees are paid, including salary, commissions, and bonuses.

Sales Control

The process of monitoring and regulating sales activities to meet objectives.

Sales Assessment

Evaluating the performance of salespeople and sales strategies.

Customer Relationship Management (CRM)

A system or strategy for managing a company’s interactions with current and potential customers.

Touchpoint

Any interaction between a company and a customer.

CRM Process

The steps involved in managing customer relationships, including data collection, analysis, and engagement.

Share of Customer

The percentage of a customer’s total spending in a category that goes to a specific company.

Customer Equity

The total value a company expects to earn from its customer base.

Customer Focus

A business strategy centered on understanding and meeting customer needs.

Lifetime Value (LTV)

The total revenue a company expects to earn from a customer over their lifetime.