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Marketing Exam 2 > Chapter 12 > Flashcards

Chapter 12 Flashcards

1
Q

Promotion mix (marketing communications mix)

A

Specific blend of promotion tools:

  • advertising
  • sales promo
  • personal selling
  • public relations (PR)
  • direct and digital marketing
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2
Q

Promotional mix objectives

A
  1. Inform prospective buyers about the benefits of the product
  2. Persuade them to try it
  3. Remind them later about the benefits they enjoyed by using the product
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3
Q

Factors changing today’s marketing communications

A

Changing consumers- better informed and more empowered consumers
Changing marketing strategies- more focus on narrowly defined micro markets
Advancements in digital technology- brand websites, email, blogs, streaming content, social media, online communities
Traditional media dominance declining- TV, magazines, newspapers
Now highly targeted media to engage smaller communities with more personalized/interactive content

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4
Q

Content marketing managers

A

Create, inspire and share brand messages and conversations

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5
Q

Integrated marketing communications

A

Refers to carefully integrating and coordinating the company’s many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands

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6
Q

Advertising

A
  • reach masses of buyers at low cost per exposure
  • builds long term image for product
  • triggers quick sales
  • public nature and viewed as legitimate
  • very expressive visuals, print, sound, color
  • impersonal and lacks direct persuasiveness of salespeople
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7
Q

Personal selling

A
  • personal interaction between two or more people
  • allows all kinds of customer relationships to spring up
  • buyer feels greater need to listen and respond
  • most expensive promo tool
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8
Q

Sales promotion

A
  • wide assortment of tools with unique qualities
  • attracts attention and offers incentives to purchase
  • used to dramatize product offers and boost sales
  • invites and rewards quick response but has short lived effects
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9
Q

Public relations

A
  • believable to readers
  • can dramatize a company or product
  • reaches many prospects
  • effective and economical when well thought out
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10
Q

Direct and digital marketing

A
  • more targeted and interactive

* immediate and personalized

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11
Q

Advertising

A

Any paid form of non personal communication about an organization, product, service, or an idea by an identified sponsor

Disadvantages

  • very expensive
  • lack of direct feedback
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12
Q

Personal selling

A

Consists of two way flow of communication between buyer and seller, often face to face, designed to inflict purchase decision

Disadvantages
-very expensive and messaging may differ from sales rep to sales rep

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13
Q

Public relations

A

Communication management that seeks to influence feelings, opinions, or beliefs

Publicity- non personal, indirectly paid presentation of an organization, product, or service

Ex. Not paying for ad space but trying to get media to run a favorable story

Disadvantages:
-hard to control media and type of coverage

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14
Q

Sales promo

A

Examples- coupons, rebates, sweepstakes, contests

Disadvantages:

  • easily duplicated, can lead to promotion wars
  • if done too often (coupon) customers will come to expect it and wait for it
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15
Q

Direct marketing

A

Examples- face to face selling, direct mail, catalogs, telephone solicitations, direct response ads on TV

Disadvantages:
-expensive and time consuming, declining response

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16
Q

Push strategy

A

Using sales force and trade promotion to push the product through channels

17
Q

Pull strategy

A

Spending a lot of consumer advertising and promotion to induce final consumer to buy product, creating demand vacuum that pulls product through channel

18
Q

Advertising objective

A

Specific communication task to be accomplished with a specific target audience during specific period of time

19
Q

Informative advertising

A

Used heavily when introducing new product category

20
Q

Persuasive advertising

A

More important as competition increases. Can also be competitive advertising- directly or indirectly compares to competitive brands

21
Q

Reminder advertising

A

Important for mature products; helps maintain customer relationships and keep consumers thinking about the product

22
Q

Methods of setting advertising budget

A

Advertising budget- refers to dollars and other resources allocated to a product or company advertising program
Affordable method- sets the promotion budget at the level management thinks the company can afford
Percentage of sales method- sets promo budget at certain percentage or forecasted sales as a percentage of the unit sales price
Competitive-parity method- sets promo to match competitors’ outlays
Objective and task method- involves developing promo budget by defining specific objectives, determining the tasks that must be performed to achieve these objectives and estimating the costs of performing these tasks

23
Q

Advertising strategy

A

Strategy by which company accomplishes its advertising objectives

Two major elements- creating advertising messages and selecting advertising media

24
Q

Madison & Vine

A

Represents merging of and eating and entertainment to create new avenues for reaching customers with more engaging messages

25
Q

Advertainment

A

Make ads so entertaining that people will want to watch them

26
Q

Brand integrations (brand entertainment)

A

Involve making the brand an inseparable part of some other form of entertainment or content

27
Q

Creating effective advertising messages

A
  1. Plan message strategy- general message that will be communicated to consumers
  2. Develop big idea that will bring message strategy to life in distinctive and memorable way

Message can be presented in various message execution styles

28
Q

Media selection

A

Advertising media- vehicles through which advertising messages are delivered to their intended audiences

Steps:

  1. Determining reach, frequency, impact and engagement
  2. Choosing among major media types
  3. Selecting specific media vehicles- paid, earned, owned
  4. Choosing media timing
29
Q

Types of major media types

A

Tv, digital mobile and social media, newspapers, direct mail, magazines, radio, outdoor

30
Q

Return on advertising investment

A

Net return on advertising investment divided by costs of the advertising investment

Should regularly evaluate
•communication efforts
•sales and profit effects

31
Q

Organizing for advertising

A

Small firms may use sales department staff

Large companies may have their own advertising departments

Advertising agency- assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs

32
Q

International advertising decisions

A 
•Degree of adaptation 
•Standardization benefits 
-lower advertising costs
-greater global advertising coordination
-more consistent worldwide image 
•Standardization drawbacks
-ignores the fact that country markets differ in their cultures, demographics, and economic conditions
33
Q

Public relations

A
  • promotes products, people, ideas, organizations, and nations
  • builds good relations with consumers, investors, media, and communities
  • rebuilds interest in commodities for trade associations
34
Q

Functions of PR

A
  • press relations or press agency- creating and placing newsworthy information in the news media to attract attention to a person, product, or service
  • product publicity- publicizing specific products
  • public affairs- building and maintaining national or local community relationships
  • lobbying- building and maintaining relationships with legislators and government officials to influence legislation and regulation
  • investor relations- maintaining relationships with shareholders and others in the financial community
  • development- working with donors or members of nonprofit organizations to gain financial or volunteer support

Marketing Exam 2 (8 decks)

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