Chapter 11 Flashcards
Promotion
Everything an organization says an does: marketing communications
Promotion mix
communication elements of the marketing mix: Personal selling
Advertising
Sales promotions
Public relations (PR)
Advertising
Marketer controls message, though expensive and not always effective
Sales promotion
Marketer in control and encourages immediate purchase, short-term emphasis (coupons/contests)
Public relation
Low cost/high credibility, though lack over control of message.
Personal selling
direct contact/immediate feedback, though high cost/consistency message unsure
Direct marketing
Target specific groups/easily measurable results. High costs/negative vibe
Buzz marketing
Using high profile entertainment/news to get people to talk about your brand
Viral marketing
messages that are designed to be passed along in an exponential fashon, often electronically or by mail.
Integrated Marketing Communications (IMC)
Process used to plan, develop, execute and evaluate coordinated/measurable/persuasive brand communication programs over time to targeted audiences
Guerilla marketing
placing product-related messages on the back of flags, cars, houses etc.
Database marketing
the creation of a relationship with a set of customers with an identifiable interest in a product or service whose responses to promotion efforts become part of the communications process
Hierarchy of effects
Create awareness(repetitive advertising, slogans) Inform the market(Brochures, PR, personal selling, website) Create desire (status appeals, sex appeals, celebrity endorsements) Encourage trial( coupons, contests, samples) Build loyalty (mailing to users, licensed merchandise, product placement)
Top-down budgeting
top management establishes over all amount of money for promotions
Percentage-of-sales method
budget based on lats year’s sales or estimated sales
Competitive-parity method
match budget with what competitors are spending
Bottom-up budgeting
identify promotion goals and get the money to accomplish them
objective-task method
first goals, then plan and attach costs to them
Push strategy
Convice distribution channels to sell their items
Pull strategy
Counting on consumers wanting its poducts, convince retailers to stock
AIDA model,
get Attention, hold Interest, create Desire, produce Action
