Marketing – Vocabulary – Chapter 17

promotion
persuasive communication
product promotion
convincing prospects to select products or services over a competitor’s brand
institutional promotion
creating a favorable image for a business, helping advocate for change, or taking a stand in the community
advertising
form of nonpersonal promotion
direct marketing
type of advertising directed to a targeted group of prospects
sales promotion
represents all marketing activities–other than personal selling, advertising, & public relations–that are used to stimulate purchasing and sales
public relations
activities that enable an organization to influence a target audience
news release
an announcement sent to the media
publicity
involves bringing news or newsworthy info about the organization to the public’s attention
promotional mix
combination of strategies and cost-effective allocation of resources to inform the public about the business
push policy
mainly promotes the product ONLY to the next person in the distribution channel
pull policy
mainly directs promotion to consumers to create customer interest
trade promotions
sales promotion activities to get support for a product from manufacturers, wholesalers, retailers
consumer promotions
sales strategies that encourage customers and prospects to buy
coupons
certificates that entitle customers to cash discounts on goods or services
premiums
low-cost items given to customers at a discount or free
incentives
higher-priced items are earned and given away through contests, sweepstakes, and rebates
promotional tie-ins
cross-promotional & cross-selling campaigns that involve promo arrangements between more than one retailer or manufacturer
via
by the way of
distribution
the commercial activity of transporting and selling goods from a producer to a consumer