UCF MAR 3023 Exam 5 Review -Ch 18, 19, 20, 3 2024/2025 Questions and Answers with complete solution

How do Consumers perceive Communication? - Receivers Decode Messages Differently, Senders Adjust Messages According to the Medium and Receivers' Traits How is Value Added by Personal Selling? - Salespeople Provide Information and Advice, Salespeople Save Time and Simplify Buying, Salespeople Build Relationships If you found this helpful, *Venmo* me @*ASerros* to show your appreciation! Good luck! - What are * Point-of-Purchase (POP) Displays*? - A merchandise display located at the point of purchase, such as at the checkout counter in a grocery store. What are *Gross Rating Points (GRP)*? - Measure used for various media advertising—print, radio, or television; GRP = Reach × Frequency. What are *Independent Agents*? - Salespeople who sell a manufacturer's products on an extended contract basis but are not employees of the manufacturer; also known as manufacturer's representatives or reps. What are *Leads*? - A list of potential customers. What are *Rebates*? - A consumer discount in which a portion of the purchase price is returned to the buyer in cash; the manufacturer, not the retailer, issues the refund. What are *Selling Teams*? - Combinations of sales specialists whose primary duties are order getting, order taking, or sales support but who work together to service important accounts. What are the categories of Social Media? - Social Networks, Media-Sharing Sites, Thought-Sharing sitesWhat are the most important traits of a salesperson? - Personality, Optimism, Empathy, Resilience, Self-Motivation What are the steps of the *Communication Process*? - Sender, Transmitter Encodes Message, Communications Channel, Receiver Decodes Message, Noise, Feedback Loop What does *Qualify* mean? - The process of assessing the potential of sales leads. What is *Advertising*? - A paid form of communication from an identifiable source, delivered through a communication channel, and designed to persuade the receiver to take some action, now or in the future. What is *Aided Recall*? - Occurs when consumers recognize a name (e.g., of a brand) that has been presented to them. What is *Brand Awareness*? - Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers. What is *Cause-Related Marketing*? - Commercial activity in which businesses and charities form a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaign. What is *Closing the Sale*? - Obtaining a commitment from the customer to make a purchase. What is *Competitive Parity*? - A firm's strategy of setting prices that are similar to those of major competitors. Does not include unique opportunities or problems a firm might confront. What is *Cross-Promoting*? - Efforts of two or more firms joining together to reach a specific target market.What is *Decoding*? - The process by which the receiver interprets the sender's message. What is *Direct Marketing*? - Sales and promotional techniques that deliver promotional materials individually. What is *Encoding*? - The process of converting the sender's ideas into a message, which could be verbal, visual, or both. What is *Frequency*? - Measure of how often the audience is exposed to a communication within a specified period of time. What is *Inbound Marketing*? - Marketing activities that draw the attention of customers through blogs, Twitter, LinkedIn, and other online sources, rather than using more traditional activities that require having to go out to get customers' attention, such as making a sales call.