Level 1
A refund offered to people who purchase a product
Rebate
A written statement meant to inform the media of an event or product
Press Release
The coordination of manufacturers, suppliers, and retailers working together to meet a customer need
Supply Chain Management
Uses intermediaries—people or businesses that move products between the manufacturer and the consumer
Indirect Channel
The process of determining customer needs and wants
Needs Assessment
A nonpaid form of communication that calls attention to your business through media coverage
Publicity
Direct communication between a prospective buyer and a sales representative
Personal Selling
Using the phone to market your product or service
Telemarketing
The original, creative work of an artist or inventor; may include such things as songs, novels, artistic designs, and inventions
Intellectual Property
when considering factors to ensure your promotional plan is effective
Evaluation Strategies
Involves the locations and methods used to make products and services available to customers
Distribution
The act of offering an incentive to customers in order to increase sales
Sales Promotion
The use of visual media to promote, sell, and distribute a product or service to a targeted audience
Visual Marketing
Moves product directly from the manufacturer to the consumer
Direct Channel
Knowing the features and benefits of the product you are selling
Product Knowledge
A paid form of communication sent out by a business about a product or service
Advertising
The act of establishing a favorable relationship with customers and the general public
Public Relations
Based on the desire to have a specific product or service
Emotional buying decisions
The routes that products and services take from the time they are produced to the time they are consumed
Channels of Distribution
How many parts are there to a press release?
Seven
Any means of communication that reaches a large number of people
Mass Media
Includes not only transportation but also storage and handling of products and packaging within a channel of distribution
Physical Distribution
Based on the logical reasoning of customers
Rational buying decisions
Name at least 3 forms of advertising & give an example of each
Online, TV, Radio, Newspaper, Direct Mail (physical mail), Magazine, Outdoor(billboards, signs), Transit (public transportation)
Name 2 channels of distribution
M -> C
M ->R -> C
M -> W -> R -> C
M -> A -> W -> R -> C