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111 Cards in this Set
- Front
- Back
advertising
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any paid form of nonpersonal communication about an organization, a good, a service, or an idea by an identified sponsor
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product advertisments
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pioneering, competitive, and reminder focused advertisments on selling a good or service
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institutional advertisements
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objective is to build goodwill or an image for an organization rather than promote a specific good or service
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reach
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the number of different people or households exposed to an advertisement
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rating
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the percentage of households in a market that are tuned to a particular TV show or radio station
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frequency
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the average number of times a person in the target audience is exposed to a message or advertisement
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gross rating points
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reach is multiplied by frequency, an advertiser will obtain a commonly used reference number
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cost per thousand
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refers to the cost of reaching 1000 individuals or households with the advertising message in a given medium
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infomercials
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are program-length advertisments that take an educational approach to communication with potential customers
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pretests
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conducted before the advertisements are placed in any medium
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full-service agency
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provides the most complete range of services, including market research, media selection, copy development, artwork and production
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limited-service agency
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specializein one aspect of the advertising process
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in-house agencies
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made up of the company's own advertising staff; may provide full services or a limited range of services
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posttests
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advertisements may go through these after it has been shown to the target audience to determine whether it accomplished its intended purpose
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customer-oriented sales promotion
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are sales tools used to support a company's advertising and personal selling
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product placement
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involves the use of a brand-name product in a movie, television show, video, or commercial for another product
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cooperative advertising
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encouraging both better quality and greater quantity in the local advertising efforts of resellers
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publicity tools
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are available to the public relations director; methods of obtaining nonpersonal presentation of an organization, good, or serivce without direct cost
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personal selling
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involves the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
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sales management
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involves planning the selling program and implementing and controlling the personal selling effort of the firm
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relationship selling
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the practice of building ties to customers based on a saleperson's attention and commitmentto customer needs over time
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partnership selling
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buyers and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customers, competitive, and company information for their mutual benefit
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order taker
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processes routine orders or reorders for products that were already sold by the company
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order getter
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sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customer to buy, closes sales, and follows up on customers'use of a product or service
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missionary salepeople
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do no directly solicit orders buy rather concentrate on performing promotional activities and introducing new products
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sales engineer
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is a salesperson who specializes in identifying, analyzing, and solving customer problems and brings know-how and technical expertise to the selling situation buy often does not actually sell products and services
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team selling
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the practice of using an entire team of professionals in selling to and servicing major customers
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personal selling process
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consists of six stages--prospecting, preapproach, approach, presentation, close, follow-up
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stimulus-response presentation
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asuumes that given the appropriate stimulus by a saleperson, the prospect will buy
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formula selling presentation
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is based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prespect
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retailing
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includes all activities involved in selling, renting and providing goods and services to ultimate customers for personal, family or household use
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form of ownership
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distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet
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level of service
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is used to describe the degree of service provided to the customer
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merchanside line
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describes how many different types of products a store carries and in what assortment
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depth of product line
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means that the store carries a large assortment of each item
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breadth of product line
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refers to the variety of different items a store carries
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scrambled merchandising
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offering several unrelated product lines in a single store
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hypermarket
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large stores based on a simple concept: offer consumers everything in a single outlet; successful in Europe
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intertype competition
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competition between very dissimilar types of retail outlets
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telemarketing
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involves using the telephone to interact with and sell directly to consumers
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retail positioning matrix
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a matrix developed by the MAC Group Inc.; positions outlets on two dimensions, breadth of product line and value added
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retailing mix
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includes activities related to managing the store and the merchandise in the store
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shrinkage
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breakage and theft of merchandise by customers and employees
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off-price retailing
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involves selling brand-name merchandise at lower than regular prices
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central business district
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the oldest retail setting, the communities downtown area
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regional shopping centers
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consist of 50 to 150 stores that typically attract customers who live or work within a 5-to-10 mile range
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community shopping center
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typically has one primary store and often about 20 to 40 smaller outlets
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strip location
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to serve people who are within a 5-to-10-minute drive
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power center
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a huge shopping strip with multiple anchor (or national) stores
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category management
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assigns a manager with the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category
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wheel of retailing
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describes how new forms of retail outlets enter the market
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retail life cycle
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the process of growth and decline that retail outlets, like products, experience
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multichannel reatilers
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utilize and intergrate a combination of tradional store formats such as catalogs, television, and online retailing
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promotional mix
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the combination of one or more types of communication tools
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integrated marketing communications
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designing marketing communications programs that coordinate all promotional activities-advertising, personal selling, sales promotion, public relations, and direct marketing-to provide a consistent message across all audiences
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communication
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the process of conveying a message to others and requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding
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source
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may be a company or person who has information to convey
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message
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information sent by a source
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encoding
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the process of having the sender transform an idea into a set of symbols
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decoding
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the process of having the receiver take a set of symbols, the message, and trandform them back to an idea
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field of experience
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a similar understanding and knowledge they apply to the message
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response
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the impact the message had on the receiver's knowledge attitudes or behaviors
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feedback
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the sender's interpretation of the response and indicated whether the message was decoded and understood as intended
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noise
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includes extraneous factors that can work against effectivev communication by distorting a message or the feedback received
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advertising
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any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor
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personal selling
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defined as the two-way flow of communication between a buyer and a seller, designed to influence a person's or group's purchase decision
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public relations
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a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services
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publicity
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a nonpersonal, indirectly paid presentation of an organization, good, or service
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sales promotion
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a short-term inducement of value offered to arouse interest in buying a good or service
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direct marketing
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uses direct communication with consumers to generate a response in the form of an order, a request for futher information, or a visit to a retail outlet
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push strategy
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directing the promotinoal mix to channel members to gain their cooperation in ordering and stocking the product
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pull strategy
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directing the promotional mix at ultimate consumers to encourage them to ask the reatiler for the product
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hierarchy of effects
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the sequence of stages a prospecitve buyer goes through from initail awareness of a product to eventual action
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awareness
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the consumer's ability to recognize and remember the product or brand name
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interest
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an increase in the consumer's desire to learn about some of the features of the product or brand
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evaluation
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the consumer's appraisal of the product or brand on oimportant attributes
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trial
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the consumer's actual first purchase and use of the product or brand
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adoption
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through a favorable experience on the first trial, the consumer's repeated purchase and use of the product or brand
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percentage of sales budgeting
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funds are allocated to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold
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competitive parity budgeting
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matching the competitors absolute level of spending or the proportion per point of market share
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all-you-can-afford budgeting
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money is allocated to promotion only after all other budget items are covered
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objective and task budgeting
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whereby the company determines its promotion objectives, outlines the tasks to accomplish these objectives and determiens the promotion cost of performing these tasks
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direct orders
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the result of offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction
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lead generation
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the result of an offer designed to generate interest in a product or service and a request of additional information
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traffic generation
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the outcome of an offer designed to motivate people to visit a business
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trade-oriented sales promotions
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sales tools used to support a company's advertising and personal selling directed to wholesalers, retailers, or distributors
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need-satisfaction presentation
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emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers
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adaptive selling
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involves adusting the presentation to fit the selling situation
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consultative selling
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focuses on problem identification where the salesperson serves as an expert on problem recognition and resolution
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sales plan
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a statement describing what is to be achived and where and how the selling effort of salespeople is to be deployed
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major account management
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the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships
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workload method
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formula based method that integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size
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account management policies
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specify who salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out
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emotional intelligence
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the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis
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sales quota
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contains specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated period of time
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salesforce automation
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the use of technology to make the sales function more effective and efficient
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ethics
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the moral principles and values that govern the actions and decisions of an individual or group
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laws
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society's values and standards that are enforceable in the courts
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caveat emptor
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let the buyers beware
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consumer bill of rights
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codified the ethics of exhange between buyers and sellers
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economic espionage
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the clandestine collection of trade secrets or propriety information about a company's competitors
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code of ethics
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a formal statement of ethical principles and rules of conduct
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whisle-blowers
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employeese who report unethical or illegal actions of their employers
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moral idealism
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a personal moral philosophy that considers individual rights or duties as universal, regardless of the outcome
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utilitarianism
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a personal moral philosophy that focuses on "the greatest good for that greatest number" by assessing the costs and benefits of the consequences of ethical behavior
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social responsibility
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means that organizations are part of a larger society and are accountable to that society for their actions
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green marketing
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marketing efforts to produce, promote, and reclaim environmentally sensitive products
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ISO 14000
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consists of worldwide standards for enviromenatal quality and green marketing practices
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cause marketing
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occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products
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social audit
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a systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility
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sustainable development
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involves conducting business in a way that protects the natural environment while making economic progress
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