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Marketing > Chapter 14 Vocab > Flashcards

Chapter 14 Vocab Flashcards

1
Q

promotion mix (marketing communications mix)

A

the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships

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2
Q

5 major promotion tools

A 
advertising
sales promotion
personal selling
public relations
direct marketing
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3
Q

advertising

A

any paid for of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor

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4
Q

sales promotion

A

short term incentives to encourage the purchase or sale of a product or service

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5
Q

personal selling

A

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

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6
Q

public relations

A

building good relations with the company’s various publics by obtaining publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories and events

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7
Q

direct marketing

A

direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

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8
Q

3 marketing factors that are changing in the face of today’s marketing communications

A

consumers - better informed, more empowered
marketing strategies - fragmentation, no mass mkting
communications technology - less broadcasting and more narrowcasting

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9
Q

brand content managers

A

marketers who manage brand conversations with and among customers across a fluid mix of channels, both traditional and new, controlled and uncontrolled

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10
Q

integrated marketing communications (IMC)

A

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

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11
Q

4 major types of media

A

paid
owned
earned
shared

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12
Q

paid media

A

includes promotional channels paid for by the sponsor, including traditional media and online and digital media

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13
Q

owned media

A

includes promotional channels owned and controlled by the company

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14
Q

earned media

A

includes PR media channels not directly paid for or controlled by the marketer

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15
Q

shared media

A

media shared by consumers with other consumers and brands, as well as traditional word of mouth

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16
Q

modern view of the communication process

A

managing the customer relationship over time

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17
Q

9 elements of communication

A 
sender
encoding
message
media
decoding
receiver
response
feedback
noise
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18
Q

sender

A

party sending the message to another party

element of communication

19
Q

encoding

A

process of putting thought into symbolic form

element of communication

20
Q

message

A

set of symbols the sender transmits

element of communication

21
Q

media

A

communication channels through which the message moves from the sender to the receiver
element of communication

22
Q

decoding

A

process by which the receiver assigns meaning to the symbols encoded by the sender
element of communication

23
Q

receiver

A

party receiving the message sent by another party

element of communication

24
Q

response

A

reactions of the receiver after being exposed to the message

element of communication

25
Q

feedback

A

part of the receiver’s response communicated back to the sender
element of communication

26
Q

noise

A

unplanned static or distortion during the communication process
element of communication

27
Q

steps in developing effective marketing communication (6)

A 
identify the target audience
determine the communication objectives
design a message
choose the media through which to send the message
select the message source
collect feedback
28
Q

buyer readiness stages (6)

A 
stages consumer normally pass through on their way to a purchase including:
awareness
knowledge
liking
preference
conviction
purchase
29
Q

AIDA model for designing a message

A

the message should get Attention, hold Interest, arouse Desire, and obtain Action

30
Q

elements of designing a message (2-3)

A

decide what to say (message content)

decide how to say it (message structure and format)

31
Q

message content’s potential appeals

A

rational
emotional
moral

32
Q

3 message structure issues

A

draw conclusion or leave it to audience?
present strongest arguments first or last?
present 1 or 2 sided argument?

33
Q

personal communication channels

A

channels through which two or more people communicate directly with each other including face to face, on the phone, via mail or email, or even through texting or an internet chat

34
Q

world of mouth influence

A

personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers

35
Q

buzz marketing

A

cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities

36
Q

nonpersonal communication channels

A

media that carry messages without personal content or feedback, including major media, atmospheres and events

37
Q

4 common methods used to set the total advertising budget

A

affordable
percentage of sales
competitive party
objective and task

38
Q

affordable method

A

setting the promotion budget at the level management thinks the company can afford

39
Q

percentage of sales method

A

setting the promotion budget at a certain percentage of current or future forecasted sales or as a percentage of the unit sales price

40
Q

competitive party method

A

setting the promotion budget to match competitors’ outlays

41
Q

objective and task method

A

developing the promotion budget by:
defining specific promotion objectives
determining the tasks needed to achieve these objectives
estimating the costs of performing these tasks

42
Q

push strategy

A

a promotion strategy that calls for using the sales force and trade promotion to push the product through channels; the producer promotes the product to channel members, which in turn promote it to final consumers

43
Q

pull strategy

A

a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that “pulls” the product through the channel

44
Q

three day cooling off rule

A

customers who agree in their own homes, workplace, dormitory, or facilities rented by the seller on a temporary basis, to buy something costing more than $25 have 72 in which to cancel a contract or return merchandise and get their money back

Marketing (20 decks)

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