MKTG 310 KU Exam 3

The combination of or more of these tools make the promotional mix
Advertising, personal selling, sales promotion, public relations, and direct marketing
Integrated Marketing Systems
the concept of designing marketing communications programs that coordinate all promotional activities to provide a consistent message across all audiences
Personal Selling
involves the two-way flow of communication between a buyer and a seller, often in a face-to-face encounter, designed to influence a purchase decision
sales management
involves planning the selling program and implementing and evaluating the personal effort of the firm.
relationship selling
the practice of building ties to customers based on a salesperson’s attention and commitment to customer’s needs over time
partnership selling (enterprise selling)
buyers and sellers combine their expertise and resources to create customized solutions;
outside
these order takers visit customers and replenish inventory stocks of resellers
inside
these order takers answer simple questions, take orders, and complete transactions with customers
6 steps in the personal selling process
1. Prsopecting
2. Preapproach
3. Approach
4. Presentation
5. Close
6. Follow-up
stimulus-response presentation
assumes that given the appropriate stimulus by a sales person, the prospect will buy
formula selling presentation
consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect
need-satisfaction presentation
emphasizes probing and listening by the sales person to identify the needs and interests of prospective buyers
Interactive marketing
two-way buyer-seller electronic communication in which the buyer controls the kind and amount of information received from the seller
choiceboard
an interactive, internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (components), prices, and delivery options
collaborative filtering
is a process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases
permission marketing
the solicitation of a consumer’s consent to receive email and advertising based on personal data supplied by the consumer
context
site’s layout and visual design
commerce
site’s capabilities to enable commercial transactions
connection
degree that site is linked to other sites
communication
the ways the site enables site-to-user, user-to-site, or two-way communication
customization
site’s ability to tailor itself to different users or allow users to personalize the site
community
the ways that the site enables user-to-user communication
marketspace
face-to-screen exchange relationships and electronic images and offerings
marketplace
face-to-face exchange relationships in a material environment
agent or broker
any intermediary with the legal authority to act on behalf of the manufacturer
Direct channel
Manufacterer > consumer
direct marketing examples
catalog sales, telemarketing, and the home shopping network
backwards integration
when Kroger makes their own products to sell in their stores
forward integration
when Ralph Lauren manufactures clothes but also own retail stores
contractual vertical marketing system
independent production and distribution firms integrate their efforts on a contractual basis obtain greater functional economies and market impact that they could achieve alone
disintermediation
when a channel member bypasses another member and sells or buys product direct
time
the time it takes to get something back on the shelf after ordering it
dependability
consistency of replenishment