| A | B |
|---|
| Promotion | communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response |
| Promotional Strategy | a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, and sales promotion |
| Competitive Advantage | one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors |
| What are the 3 Tasks of Promotion? | Informing, Reminding, and Persuading the target audience |
| Promotional Mix | the combination of promotional tools - including advertising, public relations, personal selling, and sales promotion- used to reach the target market and fulfill the organization's overall goals |
| Advertising | impersonal, one-way communication about a product or organization that is paid for by a marketer |
| Public Relations | the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public acceptance and understanding |
| Publicity | Public information about a company, product, service, or issue appearing in the mass media as a news item |
| Sales Promotion | marketing activities - other than personal selling, advertising, and public relations - that stimulate consumer buyer and dealer effectiveness. Examples: free samples, contests, premiums, trade shows, vacation giveaways, and coupons. |
| Premium (In terms of Sales Promotion) | A freebie such as a trial size of shampoo included with the larger bottle |
| Personal Selling | a purchase situation involving a personal paid-for communication between two people in an attempt to influence each other. A dyadic relationship |
| Win-Lose Outcome in Personal Selling | The objectives of the seller (maximize revenue and profits) are at the expense of the buyer (minimize cost while assuring quality) (Traditional View) |
| Win-Win Outcome in Personal Selling | By using Relationship Selling, a salesman attempts to create a long-term, committed relationship with the customer or business based on trust, increased customer loyalty, and a continuation of business (This is becoming more dependent on the internet) |
| AIDA Concept | a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action |
