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BUSMLL 3250 Exam 3 Vocab Questions with Latest Update
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BUSMLL 3250 Exam 3 Vocab Questions with Latest Update
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BUSMLL 3250 Exam 3 Vocab Questionswith Latest Update
Adaptive Selling - Answer-A need-satisfaction presentation format that involves
adjusting the presentation to fit the selling situation, such as knowing when to offer
solutions and when to ask for more information
Advertising - Answer-any paid form of nonpersonal communication about an
organization, product, service, or idea by an identified sponsor
Agent/Broker - Answer-Independent firms or individuals whose principal function is to
bring buyers and sellers together to make sales
All You Can Afford Budgeting - Answer-allocating funds to promotion only after all other
budget items are covered
Automatic Vending - Answer-nonstore retailing including vending machines, or v-
commerce, which make it possible to serve customers when and where stores cannot
Behavioral Targeting - Answer-uses information provided by cookies to direct online
advertising from marketers to those online shoppers whose behavioral profiles suggest
they would be interested in such advertising
Breadth of Product Line - Answer-the variety of different product items a store carries
Buyer Requirements (4 Categories) - Answer-Channels and intermediaries that satisfy
at least some of the interests buyers might want fulfilled when they purchase a firm's
products or services. These interests include: (1) information, (2) convenience, (3)
variety, and (4) pre- or postsale services
Buyer Turnover - Answer-how often new buyers enter the market to buy the product.
The higher, the greater amount of advertising required
Category Management - Answer-an approach to managing the assortment of
merchandise in which a manager is assigned 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
Channel Captain - Answer-a channel member that coordinates, directs, and supports
other channel members
Channel Conflict - Answer-arises when one channel member believes another channel
member is engaged in behavior that prevents it from achieving its goals
, Choiceboards - Answer-an interactive, digitally enabled system that allows individual
customers to design their own products and services by answering a few questions and
choosing from a menu of product or service attributes (or components), prices, and
delivery options
Cold Calling - Answer-a salesperson may open a directory, pick a name, and contact
that individual or business
Competitive Parity Budgeting/Matching Competitors/Share of Market - Answer-
allocating funds to promotion by matching the competitor's absolute level of spending or
the proportion per point of market share
Consultative Selling - Answer-a need satisfaction presentation format that focuses on
problem identification, where the salesperson serves as an expert on problem
recognition and resolution
Consumer Oriented Sales Promotion/Consumer Promotions - Answer-sales tools used
to support a company's advertising and personal selling directed to ultimate consumers
Consumer Utilities - Answer-the utilities provided by retailers that create value for
consumers.
Cookies - Answer-computer files that a marketer can download onto the computer and
mobile phone of an online shopper who visits the marketer's website
Corporate Chain - Answer-a second form of ownership that involves multiple outlets
under common ownership
Corporate Vertical Marketing System - Answer-the combination of successive stages of
production and distribution under a single ownership
Cost Per Thousand (CPM) - Answer-the cost of reaching 1,000 individuals or
households with the advertising message in a given medium (M is the roman numeral
for 1,000)
Cross Channel Consumers - Answer-an online consumer who shops online but buys
offline, or shops offline but buys online
Cross Selling - Answer-the practice of proposing related or complementary products
and services
Customer Experience - Answer-the internal response that customers have to all aspects
of an organization and its offering
Customer Relationship Management (CRM) - Answer-the process of identifying
prospective buyers, understanding them intimately, and developing favorable long-term
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