Marketing and Sales Concepts: Term 1 Course Outline, Quizzes of Marketing

Download Marketing and Sales Concepts: Term 1 Course Outline and more Quizzes Marketing in PDF only on Docsity! TERM 1 Consumer Acceptance of Innovation DEFINITION 1 Adoption Process - within the individualDiffusion Process- Across individuals TERM 2 Major Types of Sales Promotion DEFINITION 2 B2B (Sales incentives & Specialty items) Trade Promotions (Discounts, Allowances, Financing) Retailer Promotions (Price cuts, Trials, Free Goods, etc.) Consumer Promotions (Coupons, Rebates, Samples,etc,) TERM 3 Public Relations DEFINITION 3 - unpaid promotion designed to put the firm and its products in a positive light. Advantage: give source credibility Disadvtg: difficult to control TERM 4 Direct Sales DEFINITION 4 Executive Selling Field Selling Over the Counter Selling Inside Sales Global Sales TERM 5 Traditional Sales DEFINITION 5 Understand product Customer is a prospect Persuasion used Obtain Sales Volume Profit through sales volume TERM 6 Consultative Sales DEFINITION 6 Understand Consumers problems Customer is a target Problem solving used Help customer Profit through problem solving TERM 7 Relationship Selling DEFINITION 7 Understand the Customers business and lifecycle Customer is asset of the business Partnering with Customer Create Value for the customer and the company Profit through customer satisfaction TERM 8 Territory Plans DEFINITION 8 Pool of customers, sales potential, contract frequency TERM 9 Account Plans DEFINITION 9 Sales goals, objective for each major customer TERM 10 The Approach DEFINITION 10 Self Introduction Mutual Acquaintance Ask a question get to a benefit praise approace Gift or sample