Chapter 17 Intro to Marketing

Promotion
a persuasive communication to inform people about their goods and services
Product Promotion
Used to convince prospects to select its goods or services instead of the competitors brand
Institutional Promotion
positive communication about a business/company
Advertising
a form of non-personal paid promotion
Social Media
Interactive electronic media for people with similar interests
Sales Promotion
incentives that encourage customers to buy products or services
Public Relations
activities enable an organization to influence a target audience
News Release
a story sent to the media which is written by and about a company or organization.
Publicity
news presentation that create awareness of an organizations in the market place
Promotional Mix
a cost effective combination of strategies designed to reach a company’s goals
Push Policy
convince a retailer to stock product being promoted
Pull Policy
mainly directs promotion to consumers to create interest and demand
Promotional allowance
a special price discount thast is given as an incentive to the wholesaler or retailer
Price pack/Deal
deals or packs offer short term price reductions that are marked directly on the label or package
Incentive
promote many products by generating customer excitement and to increase sales (contest, sweepstakes, rebates)
Product Samples
form of sales promotion where the customer is given a free trial size of the product
Promotional Tie-in
when two companies combine their promotional resources to create a campaign that increases sales for both companies.
Loyalty marketing program
reward customers for frequently patronizing a company
Kiosk
a display that offers new ways for stores to improve customer service (self check in the grocery store)
Slotting allowance
money a manufacturer pays a retail chain to place a product on store shelves
Product Placement
A consumer promotion that involves using name brand products in a movie, tv show, or sporting event.
Trade promotion
Sales promotion activities targeted for manufacturers, wholesalers, and retailers
Premium
an item such as a coupon or factory pack that is free to consumers as a condition of purchase
Sponsorship
negotiated right to use logos and names on retail products