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Exams > Advertising and Promotions Exam 1 (Chp. 1-4) > Flashcards

Advertising and Promotions Exam 1 (Chp. 1-4) Flashcards

1
Q

Marketing

A

is the activity, set of institutions, and processes for creating,
communicating, delivering and exchanging offerings that have
value for customers, clients, partners, and society at large”

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2
Q

Exchange

A

Core concept of marketing

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3
Q

Value

A

Customer perceptions of benefits vs costs

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4
Q

Marketing Mix

A

Product, promotion, price, place

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5
Q

Role of marketing

A

Inform, persuade, and build relationships

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6
Q

Growth of Advertising and Promotion

A

Carefully prepared messages delivered to carefully targeted
audiences

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7
Q

IMC (integrated marketing communications)

A

Coordination among/across promotional tools/customer contact
points
 Centralized messaging (common theme and positioning) –
consistency and synergy
 Multiple audiences
 Strategic in nature
 Outcomes measurement

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8
Q

Brand

A

That part of a brand that can be spoken, including letters,
words, and numbers

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9
Q

Role of IMC in Branding

A

Develop and sustain brand identity and equity
Aid company connections to consumer via trust,
transparency and authenticity
Link to sustainability

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10
Q

Promotional Mix

A

the coordination of all seller-initiated efforts to set up
channels of information and persuasion in order to sell
goods and services

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11
Q

IMC and Audience Contact

A

Know x and y chart

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12
Q

Paid vs owned vs earned media

A

paid-tv, in store media, paid search
owned- website, facebook, blogs
earned- word-of-mouth, shared vids, media coverage

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13
Q

IMC Management

A

Process of planning, executing, evaluating, and controlling
promo mix tools to communicate with target audience

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14
Q

IMC plan

A

Framework for developing, implementing, and controlling IMC
program
 Stages of IMC planning process

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15
Q

IMC planning Process

A
  1. review marketing plan
  2. analysis of promotional program situation
  3. analysis of communication process
  4. budget determination
  5. develop IMC programs
  6. Integrate and implement marketing communication strategies
  7. monitor, evaluate, and control IMC program
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16
Q

The promotional mix

A

Advertising
Direct marketing
Interactive/internet marketing
sales promotion
publicity/public relations
personal selling

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17
Q

advertising

A

Paid forms of non-personal communication
– About an organization, product, service, or
idea by an identified sponsor
– No feedback from audience (one-way)
– Important for products and services aimed at
mass consumer markets
– Key tool to inform and influence perceptions
– Cost effective

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18
Q

Direct Marketing

A

Direct mail
Direct response advertising
Telemarketing
Catalogs
Shopping channels
Internet sales

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19
Q

Digital/internet marketing

A

Back-and-forth communication
 Users participate in and modify the form and content of
information
 Happens in real time
 Interactive media
 Internet
 Social media
 Kiosks
 Interactive television
 Mobile marketing

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20
Q

Using the internet as an IMC tool

A

Builds and maintains customer relationships
Obtains customer database information
Communicates and interacts with buyers
Provides customer service and support
Educates or informs customers
A persuasive advertising medium
A sales tool or an actual sales vehicle

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21
Q

Sales Promotion

A

Consumer oriented
Trade oriented

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22
Q

Consumer oriented

A

Coupons
Samples
Premiums
Contest/Sweepstake
Refunds/Rebates
Bonus Packs
Loyalty Programs
Events

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23
Q

Trade-oriented

A

Trade Allowances
POP Displays
Training Programs
Trade Shows
Coop Advertising

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24
Q

Sales promotion budget

A

Most of the promotional budget now goes to sales promotion
 Declining brand loyalty
 Increased consumer sensitivity to “deals”
 Larger and more powerful retailers are demanding more trade
promotion support

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25
Q

Publicity vehicles

A

Feature articles
Interviews
Special Events
News Releases

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26
Q

Public Relations

A

Systematically planning and
distributing information in an attempt to control and manage
image and the nature of the publicity received.

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27
Q

Public Relations tools

A

Cause-related marketing
Special Publications
Publicity vehicles
Community activities
public affairs activities
corporate advertising
special event sponsorship

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28
Q

personal selling

A

Person-to-person communication
 A seller attempts to assist and/or persuade prospective buyers to
make a purchase or act on an idea

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29
Q

Marketing and promotions process

A
  1. Marketing Strategy and Analysis
  2. Target marketing Process
  3. Marketing Planning Program development
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30
Q

Marketing Strategy and Analysis

A

Strategic marketing plan
Incorporates overall corporate strategy and
guides specific marketing programs and policies
and allocation of organization’s resources
Situational analysis
Market segment/target market

31
Q

Situational analysis

A

Opportunity analysis
 Analysis of marketplace such as demand trends, unfulfilled
needs, new populations
 Competitive analysis
 Analysis of competition on a wide range of variables

32
Q

Market segments/ target market

A

Selection of one or more target markets to pursue

33
Q

Target Marketing Process (4 steps)

A

Identify markets with unfulfilled needs
 Id specific needs of groups of people
 Determine market segmentation
 Divide market into distinct groups
 5 common basis for segmentation
 Select a market(s) to target
 How many segments to enter (Undifferentiated,
differentiated, concentrated)
 Which segments have potential
 Position through marketing strategies
 Image of the product (brand) relative to competitors
 7 positioning strategies plus repositioning

34
Q

Market segmentation

A

Segmenting Markets
1. Behavioral/Usage
 Usage (heavy, med, light, nonuser)
 Loyalty (brand freaks)
 Switchers/variety seekers
 80-20 Rule
2. Demographics
3. Geographic
4. Psychographic
5. Benefit

35
Q

Selecting a target market

A

Determine…
 How many segments to enter
1. undifferentiated marketing
 one product or service to entire market
2. differentiated marketing
 separate marketing strategies for each segment
3. concentrated marketing
 selection of one segment with goal to gain large share
of market
 Which segments have the greatest
potential
◦ Sales potential, growth, competition, ability to
compete, ability to market to this group

36
Q

Market Positioning

A

Fitting the product or service to one or more
segments of the broad market in such a
way as to set it apart from competition

37
Q

Developing a positioning strategy

A

Attribute/benefit
 Price/quality
 Use or application
 Product class
 Product user
 Competitor
 Cultural symbol
 Repositioning

38
Q

Salient attributes

A

Important
to consumers and are the basis
for making a purchase decision

39
Q

Marketing Planning Program Development

A

Product decisions
 Product value (meeting customer needs)
 Branding (identity, equity)
 Packaging
Price decisions
◦ Variables to consider (costs, demand, competition,
perceived value, product quality, advertising)
Distribution

40
Q

Branding (name, term, symbol, design)

A

differentiate a product from others
 instill mythical feeling

41
Q

Brand identity

A

Combination of the name, logo, symbols, design,
packaging, and image associations held by the
consumer

42
Q

Brand equity

A

Added value or goodwill (intangible asset of added
value)

43
Q

Price decisions

A

Variables to consider (costs, demand, competition,
perceived value, product quality, advertising)

44
Q

Distribution

A

Channel partners – make product available to
customers
◦ Direct and indirect channels
◦ Promotional Push - through the stores push out
to consumers
◦ Promotional Pull - generate demand via
consumer promotions and pull product through
the distribution channel

45
Q

Clients

A

Organize based on its size, number of
products/markets, budget, marketing mix, structure

46
Q

Two client structural forms

A

Two Client Structural Forms
 Centralized
 Functional structure, single product /market typically
 Decentralized
 Product/brand manager role, multiple products and markets
 In-House agencies

47
Q

In-House agencies

A

In-house agency: an advertising agency that is set
up, owned, and operated by the advertiser
 Reduces advertising and promotion costs
 Allows companies to maintain tighter control
 Critics of in-house agencies worry about experience and
objectivity

48
Q

Advantages and disadvantages to each organizational system

A

see slides

49
Q

Ad agencies (role, services, type)

A

Role – to assist clients in developing, preparing,
and executing promotional programs (highly skilled,
objective, experience)
 Services
research, creative, media, production
Account, marketing, creative, management, finance
Positions/jobs
Department or group organization
Types
Full service to specialty agencies (creative,
media)
Superagencies

50
Q

Creative boutiques

A

Only creative services

51
Q

Media specialist firms

A

Specialize in buying media, especially broadcast time

52
Q

Compensation

A

Commission, fee, cost, incentive-based

53
Q

Evaluation

A

Financial audit – costs, expenses, charges
 Qualitative audit – efforts in planning, developing, and
implementing a campaign

54
Q

how agencies are compensated

A

Commissions
 From 3 to 15% on total media amount billed
 As high as 16% for outdoor media
Fixed-Fee Method
 Monthly basic fee charged of all services
Cost-Plus Agreement
* Cost of agency work + Fixed %
Percentage charges (mark-up)
* charges for services provided by outside suppliers
* 17.65 to 20% mark-up to charges
Incentive-based Compensation
* Fee based on the achievement of agreed-on results, tightly-
specified objectives

55
Q

Ad agencies (more info)

A

 Evaluating Agencies
 Financial, qualitative audits
 Gaining and Losing Clients
 Relationship business
 Performance driven
 Pages 96-99
 Specialized Services
 Direct-Marketing, Sales Promotions, PR, Digital firms
 Collateral Services – single job hires
 IMC Services – all under one roof
 Pros and cons, responsibility, foundation characteristics

56
Q

Consumer behavior

A

PROCESS AND ACTIVITIES PEOPLE
ENGAGE IN WITH RELATION TO PRODUCTS AND SERVICES TO
SATISFY THEIR NEEDS AND DESIRES
* SEARCHING AND SELECTING
* PURCHASING AND USING
* EVALUATING
* DISPOSING

57
Q

Basic Model of Consumer Decision Making

A

Problem Recognition –> Motivation
Information search–> Perception
Alternative evaluation–>attitude formation
purchase decision–>integration
post purchase evaluation–>learning

58
Q

Problem recognition (1)

A

CONSUMER PERCEIVES A NEED AND GETS MOTIVATED TO SOLVE THE PROBLEM
* CAUSED BY A DIFFERENCE BETWEEN CONSUMER’S IDEAL STATE AND ACTUAL
STATE
SOURCES
* OUT OF STOCK
* DISSATISFACTION, NEW NEEDS OR WANTS
* NEW PRODUCTS, RELATED PRODUCTS OR PURCHASES
* MARKETER-INDUCED PROBLEM RECOGNITION

59
Q

Consumer motivations (1)

A

HELPS IN UNDERSTANDING THE REASONS UNDERLYING CONSUMER PURCHASES
* MOTIVES: FACTORS THAT COMPEL A CONSUMER TO TAKE A PARTICULAR ACTION
* RESEARCH METHODS: INTERVIEWS, PROJECTIVE TECHNIQUES, ASSOCIATION
TESTS, FOCUS GROUPS

Maslows hierarchy of needs

60
Q

Information search (2)

A

INTERNAL SEARCH – PERSONAL EXPERIENCE/PRIOR KNOWLEDGE
* EXTERNAL SEARCH – INFORMATION BEYOND THE PERSON

61
Q

Perception (2)

A

PROCESS BY WHICH AN INDIVIDUAL RECEIVES, SELECTS,
ORGANIZES AND INTERPRETS INFORMATION TO CREATE A
MEANINGFUL PICTURE
* DEPENDS ON
* INTERNAL FACTORS
* CHARACTERISTICS OF A STIMULUS

62
Q

Processes involved in perception

A

SENSATION – IMMEDIATE, DIRECT RESPONSE TO SENSES TO
STIMULUS
* 5 SENSES
* ADS, PACKAGING, BRAND NAME POINT OF PURCHASE
* SELECTING INFORMATION – INTERNAL PSYCHOLOGICAL
FACTORS DETERMINE WHAT ONE FOCUSES ON AND/OR
IGNORES
* RELEVANCE TO NEEDS
* INTERPRETING INFORMATION- ORGANIZING AND
CATEGORIZING INFORMATION INFLUENCED BY …
* INTERNAL PSYCHOLOGICAL FACTORS
* THE NATURE OF THE STIMULUS

63
Q

Selective perception

A

1.EXPOSURE
2.ATTENTION
3.COMPREHENSION
4.RETENTION - MNEMONICS

Subliminal perception-subconcious

64
Q

Alternative evaluation (3)

A

COMPARISON OF BRAND PRODUCTS AND SERVICES IDENTIFIED
AS CAPABLE OF SOLVING THE PROBLEM
* EVOKED SET - 2 TO 5 BRANDS THAT COME TO MIND
* EVALUATIVE CRITERIA (FUNCTIONAL AND PSYCHOSOCIAL)

65
Q

Attitude formation (3)

A

ATTITUDES ARE LEARNED PREDISPOSITIONS
* SALIENT BELIEFS
* MULTIATTRIBUTE MODEL

66
Q

Purchase decision (4)

A

OUTCOME OF THE ALTERNATIVE EVALUATION STAGE -
DEVELOPED PURCHASE INTENTION, BRAND LOYALTY

67
Q

Integration (4)

A

EVALUATION OF ALTERNATIVES BASED ON KNOWLEDGE,
BELIEFS, AND MEANINGS
* HEURISTICS
* AFFECT REFERRAL DECISION RULE

68
Q

Post Purchase evaluation (5)

A

COMPARE PERFORMANCE TO EXPECTATION
* COGNITIVE DISSONANCE (DOUBT)

69
Q

Learning (5)

A

BEHAVIORAL LEARNING – CLASSICAL AND OPERANT
* COGNITIVE LEARNING

70
Q

Classical conditioning

A

unconditioned stimulus to conditioned response

71
Q

operant conditioning

A

random rewarding

72
Q

Environmental influences

A

CULTURE
* SUBCULTURE
* SOCIAL CLASS
* REFERENCE GROUP
* SITUATIONAL DETERMINANTS

73
Q
A

Exams (14 decks)

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