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Principles of Marketing

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Principles of Marketing ­ MGT301
VU
Lesson ­ 39
KEY TERMS
Advertising:
Any paid form of non personal presentation and
promotion of ideas, goods, or services by an
identified sponsor.
Personal selling:
Personal presentation by the
firm's sales force for the purpose of making sales
and building customer relationships.
Sales promotion:
Short-term  incentives  to
encourage the purchase or sale of a product or
service.
Public relations:
Building good relations with the company's various
publics by obtaining favorable publicity, building up
a good corporate image, and handling or heading off
unfavorable rumors, stories, and events.
Direct marketing:  Direct  connection  with
carefully targeted individual consumers to both
obtain an immediate response and cultivate lasting
customer relationships--the use of telephone, mail,
fax, e-mail, the Internet, and other tools to
communicate directly with specific consumers.
Personal Communication Channels:
In personal communication channels, two or more
people communicate directly with each other.
Non-personal Communication Channels: Non personal communication channels are media
that carry messages without personal contact or
feedback.
Public Relations:
Public relations involves building good relations
with the company's various publics by obtaining
favorable publicity, building up a good corporate
image,  and handling or heading off unfavorable
rumors, stories, and events.
Advertising:
can reach masses of geographically dispersed buyers
at a low cost per exposure, and it enables the seller
to repeat a message many times
Publicity
Public  information  is  information  about  a
company's goods or services appearing in the mass
media as a news item. Stimulation of demand for a
good, service, place, idea, person, or organization by
unpaid placement of commercially significant news
or favorable media presentations.
198
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Principles of Marketing ­ MGT301
VU
Sales Promotion:
Sales promotion consists of short-term incentives to
encourage the purchase or sale of a product or service.
Whereas advertising and personal selling offer reasons to
buy a product or service, sales promotion offers reasons to
buy now.
Catalog Marketing:
Catalog marketing involves selling through catalogs mailed to
a select list of customers or made available in stores
Kiosk Marketing:
Some companies place information and ordering machines
(called kiosks) in stores, airports, and other location
Database marketing
is the process of building, maintaining, and using
customer databases and other databases for the purposes of
contacting and transacting with customers.
199
Table of Contents:
  1. PRINCIPLES OF MARKETING:Introduction of Marketing, How is Marketing Done?
  2. ROAD MAP:UNDERSTANDING MARKETING AND MARKETING PROCESS
  3. MARKETING FUNCTIONS:CUSTOMER RELATIONSHIP MANAGEMENT
  4. MARKETING IN HISTORICAL PERSPECTIVE AND EVOLUTION OF MARKETING:End of the Mass Market
  5. MARKETING CHALLENGES IN THE 21st CENTURY:Connections with Customers
  6. STRATEGIC PLANNING AND MARKETING PROCESS:Setting Company Objectives and Goals
  7. PORTFOLIO ANALYSIS:MARKETING PROCESS,Marketing Strategy Planning Process
  8. MARKETING PROCESS:Analyzing marketing opportunities, Contents of Marketing Plan
  9. MARKETING ENVIRONMENT:The Companyís Microenvironment, Customers
  10. MARKETING MACRO ENVIRONMENT:Demographic Environment, Cultural Environment
  11. ANALYZING MARKETING OPPORTUNITIES AND DEVELOPING STRATEGIES:MIS, Marketing Research
  12. THE MARKETING RESEARCH PROCESS:Developing the Research Plan, Research Approaches
  13. THE MARKETING RESEARCH PROCESS (Continued):CONSUMER MARKET
  14. CONSUMER BUYING BEHAVIOR:Model of consumer behavior, Cultural Factors
  15. CONSUMER BUYING BEHAVIOR (CONTINUED):Personal Factors, Psychological Factors
  16. BUSINESS MARKETS AND BUYING BEHAVIOR:Market structure and demand
  17. MARKET SEGMENTATION:Steps in Target Marketing, Mass Marketing
  18. MARKET SEGMENTATION (CONTINUED):Market Targeting, How Many Differences to Promote
  19. Product:Marketing Mix, Levels of Product and Services, Consumer Products
  20. PRODUCT:Individual product decisions, Product Attributes, Branding
  21. PRODUCT:NEW PRODUCT DEVELOPMENT PROCESS, Idea generation, Test Marketing
  22. NEW PRODUCT DEVELOPMENT:PRODUCT LIFE- CYCLE STAGES AND STRATEGIES
  23. KEY TERMS:New-product development, Idea generation, Product development
  24. Price the 2nd P of Marketing Mix:Marketing Objectives, Costs, The Market and Demand
  25. PRICE THE 2ND P OF MARKETING MIX:General Pricing Approaches, Fixed Cost
  26. PRICE THE 2ND P OF MARKETING MIX:Discount and Allowance Pricing, Segmented Pricing
  27. PRICE THE 2ND P OF MARKETING MIX:Price Changes, Initiating Price Increases
  28. PLACE- THE 3RD P OF MARKETING MIX:Marketing Channel, Channel Behavior
  29. LOGISTIC MANAGEMENT:Push Versus Pull Strategy, Goals of the Logistics System
  30. RETAILING AND WHOLESALING:Customer Service, Product Line, Discount Stores
  31. KEY TERMS:Distribution channel, Franchise organization, Distribution center
  32. PROMOTION THE 4TH P OF MARKETING MIX:Integrated Marketing Communications
  33. ADVERTISING:The Five Mís of Advertising, Advertising decisions
  34. ADVERTISING:SALES PROMOTION, Evaluating Advertising, Sales Promotion
  35. PERSONAL SELLING:The Role of the Sales Force, Builds Relationships
  36. SALES FORCE MANAGEMENT:Managing the Sales Force, Compensating Salespeople
  37. SALES FORCE MANAGEMENT:DIRECT MARKETING, Forms of Direct Marketing
  38. DIRECT MARKETING:PUBLIC RELATIONS, Major Public Relations Decisions
  39. KEY TERMS:Public relations, Advertising, Catalog Marketing
  40. CREATING COMPETITIVE ADVANTAGE:Competitor Analysis, Competitive Strategies
  41. GLOBAL MARKETING:International Trade System, Economic Environment
  42. E-MARKETING:Internet Marketing, Electronic Commerce, Basic-Forms
  43. MARKETING AND SOCIETY:Social Criticisms of Marketing, Marketing Ethics
  44. MARKETING:BCG MATRIX, CONSUMER BEHAVIOR, PRODUCT AND SERVICES
  45. A NEW PRODUCT DEVELOPMENT:PRICING STRATEGIES, GLOBAL MARKET PLACE