Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Comm 223 > Chapter 12 - Promotion Mix > Flashcards

Chapter 12 - Promotion Mix Flashcards

1
Q

What is a promotion mix and what other name do we give it?

A

Specific blend of promotion tools used by companies to persuasively communicate customer value and build customer relationships.

Marketing communications mix

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the 5 promotion tools?

A
  1. Advertising
  2. Sales promotion
  3. Personal selling
  4. Public relations (PR)
  5. Direct and digital marketing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is advertising?

A

Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is sales promotion?

A

Short-term incentives to encourage purchase or sale of a product or service.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is public relations?

A

Building good relations and corporate image with the company’s publics using publicity, and handling unfavorable events.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is personal selling?

A

Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is direct marketing?

A

Direct communications with targeted individuals to obtain an immediate response and lasting customer relationships.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What factors are changing the face of today’s marketing communications?

A

Changing consumers
Changing marketing strategies
Advancements in digital technology

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is integrated marketing communications (IMC)?

A

The concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Why do we need integrated marketing communications?

A

Conflicting messages from different sources or promotional approaches can confuse company or brand images

The problem is particularly prevalent when functional specialists handle individual forms of marketing communications independently

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What determines the overall communications mix?

A

Determined by the nature of each promotion tool and the selected promotion mix strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are the two promotion strategies?

A

Push strategy: involves “pushing” the product through marketing channels to final consumers.

Producer –> Retailers and wholesalers –> consumers

Pull strategy: producer directs its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are the 4 steps in developing an advertising program?

A
  1. Setting objectives
  2. Setting the budget
  3. Developing the advertising strategy
  4. Evaluating advertising campaigns
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Expand on the setting objectives step?

A

Advertising objectives can be classified by primary purpose:
- Inform
– Introducing new products

  • Persuade
    – Becomes more important as competition increases
    – Comparative advertising
  • Remind
    – Most important for mature products
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the 4 methods for setting the budget?

A
  1. Affordable method
  2. Percentage-of-sales method
  3. Competitive-parity method
  4. Objective-and-task method (most logical)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Expand on the developing the advertising strategy step?

A

Accomplishes the company’s advertising objectives

Creating ad messages:
- Breaking through the clutter
- Merging advertising and entertainment
- Message and content strategy
- Message execution
- Consumer-generated content

Select advertising media:
- Decide on level of reach, frequency, impact and engagement
- Choose among the major media types by considering:
– Consumer media habits, nature of the product, types of messages, and costs
- Select specific media vehicles
Decide on media timing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What are some creative executive styles?

A

Slice of Life
Lifestyle
Fantasy
Mood or Image
Musical
Testimonial Evidence or Endorsement
Personality Symbol
Technical Expertise
Scientific Evidence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the main advertising media types?

A

Newspapers
Television
Direct Mail
Digital, mobile, and social media
Magazines
Outdoor
Radio

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Expand the evaluating advertising effectiveness step?

A

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

Advertisers should regularly evaluate
- Communication effects
- Sales and profit effects

20
Q

What are the 6 public relations functions?

A

Press Relations
Product and brand Publicity
Public Affairs
Lobbying
Investor Relations
Development

21
Q

What are the role and impact of public relations?

A

Strong impact on public awareness at a lower cost than advertising
Power to engage consumers and make them part of the brand’s story, inject them in daily conversations
Limited and scattered use
Powerful brand-building tool

22
Q

What are the main major public relations tools?

A

News
Corporate Identity Materials
Special Events
Written Materials
Audiovisual Materials
Public Service Activities

23
Q

Who are the sales promotion targets?

A

Final buyers—Consumer promotions
Retailers and wholesalers—Trade promotions
Business customers—Business promotions
Members of the sales force—Sales force promotions

24
Q

What factors have contributed to the rapid growth of sales promotion?

A

Product managers view promotion as an effective short-run sales tool.
Competitors use sales promotion to differentiate their offers.
Advertising efficiency has declined.
Sales promotions help attract today’s more thrift-oriented consumers.

25
Q

What are the 3 types of sales promotions and their objectives?

A

Consumer promotions:
- To urge short-term customer buying or boost customer-brand engagement

Trade promotions:
- To get retailers to carry new items and more inventory, buy ahead, or promote the company’s products and give them more shelf space

Business promotions:
- To generate business leads, stimulate purchases, reward customers, and motivate salespeople

26
Q

Name some of the consumer promotion tools?

A

Samples
Coupons
Rebates
Price packs
Premiums
Event marketing
Contests
Point-of-purchase

27
Q

What are the 5 steps in developing the sales promotion program?

A
  1. Size of the incentive
  2. Conditions for participation
  3. Promotion and distribution of the actual sales promotion program
  4. Length of the promotional program
  5. Evaluation
28
Q

What is the role of the sales force in personnel selling?

A

Links the company with its customers
Coordinates marketing and sales
Prospecting and communicating
Selling and servicing
Gathering information and building relationships

29
Q

What are the 7 steps in the personal selling process?

A
  1. Prospecting and qualifying
  2. Preapproach
  3. Approach
  4. Presentation and demonstration
  5. Handling objections
  6. Closing
  7. Follow-up
30
Q

What are some factors of the growth of direct and digital marketing?

A

Fastest-growing form of marketing

Direct marketing becoming more Internet-based

Direct marketing claims a surging share of marketing spending and sales:
- Includes online display and search advertising, video, social media, mobile, email

31
Q

Who and what are the benefits of direct and digital marketing to buyers?

A

Buyers:
- Convenient, easy, and private
- Easy buyer-seller interaction
- Quick access to products and relevant information
- Brand engagement and community

Sellers:
- Low-cost, efficient, and speedy
- Build close, personalized, interactive, one-to-one customer relationships
- Greater flexibility

32
Q

What are the two types of direct and digital marketing?

A
  1. Digital and social media marketing
  2. Traditional direct-marketing
33
Q

What is Digital and social media marketing?

A

Using digital marketing tools to engage consumers anywhere, anytime via their digital devices

34
Q

What is digital age?

A

Changing customers’ notions of convenience, speed, price, product information, service, and brand interactions

35
Q

What is Omni-channel retailing?

A

Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

36
Q

What is online marketing?

A

Marketing via the Internet using company Web sites, online ads and promotions, email, online video, and blogs

37
Q

What is online advertising?

A

Appears while consumers are browsing online

38
Q

What is email marketing?

A

Sending highly targeted, highly personalized, relationship-building marketing messages via email
Spam: Unsolicited, unwanted commercial email messages

39
Q

What is viral marketing?

A

Videos, ads, and other marketing content that customers seek out or pass along to friends

40
Q

What are blogs and other online forums and their benefits/limitations?

A

Online journals of narrowly defined topics where people and companies post their thoughts and other content

Benefits: A fresh, original, personal, and inexpensive way to enter into consumer online conversations

Limitations: Cluttered, difficult to control and largely a consumer-controlled medium

41
Q

What is social media marketing?

A

Independent and commercial online communities where people congregate, to socialize and share messages, opinions, pictures, videos, and other content

Marketers engage social media in two ways:
- Using the existing ones
- Setting up their own

42
Q

What are the advantages and challenges of social media marketing?

A

Advantages:
- Targeted and personal
- Interactive
- Immediate and timely
- Cost effective
- Engagement and social sharing capabilities

Disadvantages:
- Effective usage uncertain
- Difficult to measure results
- Largely user controlled

43
Q

What is mobile marketing?

A

Promotional content delivered to consumers through their mobile devices

Engages customers anywhere, anytime during the buying and relationship-building processes

44
Q

What are some public policy issues in direct and digital marketing?

A

Irritation, Unfairness, Deception, and Fraud
Consumer Privacy
A Need for Action

45
Q

What is integrated marketing communication?

A

Coordinate across different promotion mix elements to achieve the promotion objectives

Factors affecting the promotion mix:
- Objectives (e.g., Target Audience, Pull vs. Push)
- Unique nature of individual promotion mix elements
- Nature of the product
- Stages in the Product Life Cycle
- Stages in the Consumer Problem Solving Process
- Promotion Budget

46
Q

What is integrated social media marketing?

A

Large companies design social media efforts that blend with and support other elements of a brand’s marketing strategy and tactics.

Firms that use social media effectively create brand-related social sharing, engagement, and customer community.

Comm 223 (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions