Advertising Flashcards
Defines potential customers, evaluates projected growth, assesses competitors, and makes a practical assessment of your business.
Situational Analysis
An assessment for a business, which concerns four aspects: Strengths, Weaknesses, Opportunities, and Threats of a company. Emphasizes the internal environment
SWOT Analysis
An extension of the classic analytics tool, SWOT Analysis. Emphasizes the external environment
TOWS Analysis
Maxi-Maxi strategy utilizes internal strengths to maximize or optimally use external opportunities available to an organization.
Strength And Opportunity SO
Maxi-Mini strategy maximizes the strengths of a business and minimizes the threats using those strengths.
Strength and Threats ST
Mini-Maxi strategy’s aim is to minimize weaknesses of an organization and maximize opportunities. This strategy revamps internal weaknesses by using external opportunities.
Weakness And Opportunity WO
Also known as the mini-mini strategy, aims to minimize threats and weaknesses
Weakness And Threats WT
a tool that compares the firm and its rivals and reveals their relative strengths and weaknesses
CPM (Competitive Profile Matrix)
An essential strategic management tool to compare the firm with the major players of the industry
CPM (Competitive Profile Matrix)
Paid form of non-personal communication about an organization,product, service or idea from an identified sponsor, using mass media to persuade or influence an audience.
Advertising
Is a process through which companies generate customer interest in products / services by incorporating social and environmental considerations in products and promotions.
Ethical Marketing
Is advertising that is truthful, not offended and is correct in terms of morality and ethics
Ethical Advertising
In Adverts means a set of well defined principles
which govern the ways of communication taking place
between the seller and the buyer.
Ethics
Involves bringing together a variety of different communication tools to deliver a common message and make a desired impact on customers’ perceptions and behavior.
Integrated Marketing Communication (IMC)
A strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects employees and other relevant external and internal audiences.
Integrated Marketing Communication (IMC)
Includes all the messages, media, and activities used by an organization to communicate with the market and help persuade target audiences to accept its messages and take action accordingly
Marketing Communication
Refers to HOW marketers combine a range of marketing communication methods to execute their marketing activities
Promotion Mix
Refers to HOW marketers combine a range of marketing communication methods to execute their marketing activities
Promotion Mix
To create goodwill between an organization (or the things it promotes) and the “public” or target segments it is trying to reach.
Public Relations
Is just one aspect of public relations. It concerns a company, organization or individual’s presence in the media. Forms of publicity include news stories, articles and event information.
Publicity
Uses people to develop relationships with target audiences for the purpose of selling products and services
Personal Selling
Puts an emphasis on face-to-face interaction, understanding the customer’s needs, and demonstrating how the product or service provides value
Personal Selling
Are marketing activities that aim to temporarily boost sales of a product or service by adding to the basic value offered, such as “buy one get one free”
Sales Promotion
This method aims to sell products or services directly to consumers rather than going through retailers. (Ex. Catalogs, telemarketing, mailed brochures, or promotional materials)
Direct Marketing
