Final Exam Study Guide

Final Exam Study Guide - Final Exam Study Guide Dr Ponzillo...

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Final Exam Study Guide: Dr. Ponzillo lets you bring a one page cheat sheet to the exam double-sided. This is the one I composed for myself. I got a 93% on the exam. Chapter 14 Direct Marketing - a system of marketing by which an organization communicates directly with customers to generate a response and/or transaction. Direct-Response Media - media used to seek a direct response from the consumer, including direct mail, telemarketing, etc. Database Marketing - the use of specific information about individual customers and/or prospects to implement more effective and efficient marketing communications. 4 Functions Databases Perform (1.) Improving the selection of market segments . By analyzing the characteristics of the database, a marketer can target a greater potential audience. (2.) Stimulate repeat purchases . Once purchase has been made, the customer’s name and other info are entered into the database. These people are proven direct-marketing users who offer high potential for repurchase. (3.) Cross-Sell . Cust’s who demonstrate a specific interest also constitute strong potential for other products of the same nature. (4.) Customer relationship management CRM . Marketer develops and maintains a significant amount of info about its clients. The aim of CRM is to establish a relationship with one’s cust’s through affinities, personalized communications, and product/service offerings. One-Step Approach -the medium is used directly to obtain an order. Wrench sets, workout material. Two-Step Approach - involves the use of more than one medium. First one designed to screen, or qualify potential buyers, second effort generates response. Companies use telemarketing to screen on the basis of interest, and then follow up to interested parties. Forms of Direct Marketing: Direct Mail, Catalogs, Broadcast Media, TV Spots, Infomercials, Homeshopping, Print Media, Telemarketing, Electronic Teleshopping. 3 Forms of Direct Selling : (1.) Repetitive Person-to-Person Selling . The salesperson visits the buyer’s home or job to sell frequently purchased products or services- Mary Kay. (2.) Non-Repetitive Person-to-Person Selling. Salesperson visits the buyer’s home, job site, or other location to sell infrequently purchased
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This note was uploaded on 07/13/2010 for the course MKT MKT 411 taught by Professor Dr.ponzillo during the Fall '08 term at Tampa.

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Final Exam Study Guide - Final Exam Study Guide Dr Ponzillo...

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