Marketing Essentials Vocab (Chapter 17)

product promotion
a promotional method used by businesses to convince prospects to select their goods or services instead of a competitor’s brands
institutional promotion
a promotional method used to create a favorable image for a business
advertising
a form of non-personal promotion in which companies pay to promote ideas, goods, or services
direct marketing
a type of promotion that companies use to address individuals directly and not through a third party method
sales promotions
represents all marketing activities that are directed at business or retail customers to boot sales (other than personal selling, advertising, and public relations)
public relations
activities help an organization to influence a target audience
news release
an announcement sent to the appropriate media outlets
publicity
involves bringing news or newsworthy information about an organization to the public’s attention
promotional mix
the cost-effective combination of personal selling, advertising, direct marketing, sales promotion, and public relations strategies used to reach company goals
push policy
a type of promotion in which manufacturers use a mix of advertising, personal selling, and trade discounts with partners in the distribution channel to “push” the product through to the retailer
pull policy
a type of promotion by manufacturers that directs promotional activities toward customers
trade promotions
sales promotions designed to get support for a product from manufacturers, wholesalers, and retailers
promotional allowances
represent cash payments or discounts given by manufacturers to wholesalers or retailers for performing activities to encourage sales
cooperative advertising
a manufacturer supports the retailer by helping to pay for the cost of advertising its products locally
slotting allowances
a cash premium paid by a manufacturer to a retailer to help the retailer cover the costs of placing the manufacturer’s product on the shelves
sales force promotions
awards given to dealers and employees who successfully meet or exceed a sales quota
trade show/conventions
showcases a particular line of products; provides businesses with opportunities to introduce new products, meet customers, and partners in distribution chain, and gain continued company and product support
consumer promotions
sales strategies that encourage customers and prospects to buy a product or service
coupons
certificates that entitle customers to cash discounts on goods or services
premium
low-costs items given to customers at a discount or for free
incentives
promotes many products because they create customer excitement and increase sales; are higher-priced products earned and given away through contests, sweepstakes, and rebates
product samples
another form of consumer sales promotion; is a free trail size of a products sent through the mail, distributed door-to-door, or given away at retail stores and trade shows
sponsorship
is a high-profile promotional medium and an integral part of promotion; the sponsoring company pays a fee for the right to promote itself and its products or services at or on a set location
promotional tie-ins (cross-promotion, cross-selling campaigns)
involves sales promotional arrangements between one or more retailers or manufacturers; can be complex + involve several companies
product placement
a consumer promotion that involves using a brand-name product in a movie, television show, sporting event, or commercial for another product
loyalty marketing programs
rewards customers by offering incentives for repeat purchases
online loyalty marketing
online versions of loyalty programs; have become popular (ex. points, email +discounts)
point-of-purchase displays
displays designed primarily by manufacturers to hold and display their products (ex. kiosks -> stand-alone structures)