Chapter 1

Question 1

Definition of Marketing

Answer 1

process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Question 2

Three necessary conditions for an exchange to happen:

Answer 2

• Desirability
• Affordability
• Availability

Question 3

Traditional Approaches to Marketing Communications

Answer 3

All are pieces of puzzle that don't connect to each other.                                                       point of purchase
publicity
sales promo
packaging
special events
media ads
direct response
direct marketing
PR
Interactive marketing

Question 4

Contemporary IMC Approach

Answer 4

all pieces of puzzle fit together

Question 5

Reasons for the Growing Importance of IMC

Answer 5

Companies adopt different tools in promotion, to adapt to the changes in the market environment
•Fragmented media
•Increased negotiation power of retailers
•New technologies

Question 6

Differences Between the Traditional and the IMC Approaches

Answer 6

• less central role in advertising
• Coordination among various functions to deliver a consistent message
• Most effective and efficient way of communicating to consumers

Question 7

IMC

Answer 7

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.

Question 8

Goal of IMC

Answer 8

generate short-term financial returns and build long-term brand value.

Question 9

Promotional Mix

Answer 9

advertizing
direct marketing
digital/internet marketing
sales promo
publicity
personal selling