Session:12 Distributing and Promoting Products and Services
Key Terms
Introduction to Business | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/books/introduction-busines
- 5Ps
- The traditional 4Ps of marketing: product, price, promotion, and place (distribution), now with packaging added as a key marketing component.
- advertising
- Any paid form of nonpersonal presentation by an identified sponsor.
- advertising media
- The channels through which advertising is carried to prospective customers; includes newspapers, magazines, radio, television, outdoor advertising, direct mail, social media, and the internet.
- agents
- Sales representatives of manufacturers and wholesalers.
- audience selectivity
- An advertising medium’s ability to reach a precisely defined market.
- breaking bulk
- The process of breaking large shipments of similar products into smaller, more usable lots.
- brokers
- Go-betweens that bring buyers and sellers together.
- cost per thousand (CPM)
- Cost per thousand contacts is a term used in expressing advertising costs; refers to the cost of reaching 1,000 members of the target market.
- distribution (logistics)
- Efficiently managing the acquisition of raw materials by the factory and the movement of products from the producer to industrial users and consumers.
- distribution channel
- The series of marketing entities through which goods and services pass on their way from producers to end users.
- e-commerce
- E-commerce refers to the development and maintenance of a company’s website and the facilitation of commerce on the website, such as the ability for customers to order products online and other activities.
- frequency
- The number of times an individual is exposed to an advertising message.
- industrial distributors
- Independent wholesalers that buy related product lines from many manufacturers and sell them to industrial users.
- integrated marketing communications (IMC)
- The careful coordination of all promotional activities—media advertising, sales promotion, personal selling, and public relations, as well as direct marketing, packaging, and other forms of promotion—to produce a consistent, unified message that is customer focused.
- manufacturer
- A producer; an organization that converts raw materials to finished products.
- manufacturers’ representatives
- Salespeople who represent noncompeting manufacturers; function as independent agents rather than as salaried employees of the manufacturers.
- marketing intermediaries
- Organizations that assist in moving goods and services from producers to end users.
- merchant wholesaler
- An institution that buys goods from manufacturers (takes ownership) and resells them to businesses, government agencies, other wholesalers, or retailers.
- personal selling
- A face-to-face sales presentation to a prospective customer.
- promotion
- The attempt by marketers to inform, persuade, or remind consumers and industrial users to engage in the exchange process.
- promotional mix
- The combination of advertising, personal selling, sales promotion, and public relations used to promote a product.
- prospecting
- The process of looking for sales prospects.
- public relations
- Any communication or activity designed to win goodwill or prestige for a company or person.
- publicity
- Information about a company or product that appears in the news media and is not directly paid for by the company.
- qualifying questions
- Inquiries used by salespeople to separate prospects from those who do not have the potential to buy.
- reach
- The number of different target consumers who are exposed to a commercial at least once during a specific period, usually four weeks.
- retailers
- Firms that sell goods to consumers and to industrial users for their own consumption.
- sales promotion
- Marketing events or sales efforts—not including advertising, personal selling, and public relations—that stimulate buying.
- sales prospects
- The companies and people who are most likely to buy a seller’s offerings.
- social media
- A relatively new marketing channel that includes platforms such as Facebook, Twitter, LinkedIn, Pinterest, and Instagram.
- wholesalers
- Firms that sell finished goods to retailers, manufacturers, and institutions.