Chapter 1 Flashcards
IMC
Integrated marketing communications
Marcom
Marketing communications
B2C
Business to consumer
B2B
Business to business
LBS
Location-based service
Example: mobile phone apps etc.
QR codes
Quick response codes or 2D barcodes
Marketing mix
Specific collections of certain levels of any brands 4Ps: Product Price Place Promotion
Communications
The process whereby commonness of thought is established and meaning is shared between individuals or between organizations and individuals
Marketing
The human activity directed at satisfying customers needs and wants through the exchange process
Marketing communications
Represents the collection of all elements in organizations marketing mix that facilitates exchange by establishing shared meaning with its customers
Promotional mix
Elements including advertising, public relations, sales promotion, personal selling, direct marketing, and online marketing/social media
Advertising
Any paid form of nonpersonal communication of ideas, goods, or services by an identified sponsor
Public relations (PR)
An organization no activity involved with fostering goodwill between the company and its various Publics
Publicity
Like advertising, is nonpersonal communication to a mass audience
Sales promotion
Promotional activities that attempt to stimulate short-term buyer behavior
Example: attempt to promote immediate sales
Personal selling
Is a paid person-to-person communication in which a seller determines needs and wants of prospective buyers and attempts to persuade these buyers to purchase the company’s products or services
Direct marketing
An interactive system of marketing that uses one or more advertising media to effect a measurable response and/or transaction at any location
Online marketing
Is the promotion of product and services over the Internet
Example: search engine marketing, banner ads, mobile advertising, and location-based apps
Touch point/contact
Are used here as interchangeable terms to mean any message medium capable of reaching target customers and presenting the brand in a favorable light
Positioning statement
Is the key idea that encapsules what a brand is intended to stand for in its target markets mind and then consistently delivers the same idea across all media channels
Relationship
Is an enduring link between a brand and its customers