chapter 16 exam review Flashcards
coordination of promotion and other marketing efforts for maximum informational and persuasive impact; fosters long-term relationships and efficient use of promotional resources; coordinating multiple marketing tools to produce this synergistic effect requires a marketer to employ a broad perspective
Integrated marketing communications
why is IMC (integrated marketing communications) increasingly accepted
consistent message to the customers coordinate/ manage promotional efforts synchronization of promotional elements use more precisely targeted promotional tools use of database marketing protect consumer privacy
a sharing of meaning through the transmission of information
communication
a person, group, or organization that decodes a coded message
source
the individual, group, or organization that decodes a coded message
Receiver
converting meaning into a series of signs or symbols
code process( encoding)
converting signs and symbols into concepts and ideas
Decoding Process
anything that reduces communication’s clarity and accuracy
noise
receiver’s response to a decoded message
feedback
the limit on the volume of information a channel can handle effectively
channel limit
communications that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and to accept its products
Promotion
List the 8 objectives of promotion
- Create awareness
- stimulate demand
- encourage product trial
- identify prospects
- retain loyal customers
- facilitate reseller support
- combat competitive promotional efforts
- reduce sales fluctuations
awareness is crucial to initiating the product adoption process for new products
for existing products, promotional efforts create increased awareness of brands, product features, image-related issues, or operational characteristics
- Create Awareness
primary demand, pioneer promotion, and selective demand are all ways to:
- Stimulate demand
demand for a product category rather than a specific brand
Primary demand
a way to stimulate primary demand: promotion that informs consumers about a new product
Pioneer Promotion
demand for a specific brand
Specific demand
if customers stall in the evaluation stage, marketers can use methods to encourage product trial in order to move them to product adoption
trial techniques include free samples and coupons
3.Encourage product trial
some promotional efforts aim to locate and identify customers who are interested in the firm’s products and are most likely to buy
techniques include direct-response information form and toll-free number
- identify Prospects
The primary goal of marketing is to maintain long-term customer relationships; keeping current customers is less costly than acquiring new customers
retention techniques include frequent-user programs and special offers to existing customers
- Retain loyal customers
strong relationships with resellers are important to an organization’s ability to maintain a sustainable competitive advantage
various promotional methods help achieve this goal
- Facilitate reseller support
promotional activities may aim to offset or lessen the effect of a competitor’s promotional and marketing activities
this type of promotional activity does not necessarily increase sales or market share
- Combat competitive promotional efforts
a business cannot operate at peak efficiency when sales fluctuate widely; holidays and seasonal products
promotional activities are often designed to stimulate sales during slumps
8.Reduce sales fluctuations
What are the 4 elements of the Promotion Mix
Advertising, personal selling, public relations, sales promotion
a paid nonpersonal communication about an organization and its products transmitted to a target audience through mass media
highly flexible and can reach large or small audiences depending on need
advertising
a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation
Personal Selling
3 types of interpersonal communication
kinesic, proxemic, tactile
body language, communicating through movement of head, eyes, arms, hands, legs, and torso
Kinesic
communicating by varying the physical distance between two parties in face-to-face interactions
proxemic
communicating through touching
Tactile
a broad set of communication efforts used to create/maintain favorable relationships between organization and stakeholders
Public relations
a non-personal communication in a news-story form about an organization, its products, or both
Publicity
activities or materials that act as a direct inducement, offering added value or incentive for the product to resellers, salespeople, or customers
Sales promotion
often drives what promotional elements are chosen; small target markets often rely on personal selling
Size
dispersed customers often rely more on heavily on advertising
Geographic distribution
age, income, education, etc. will affect consumers’ media consumption patterns and are important considerations when developing the promotion mix
demographic characteristics
personal selling and sales promotion
business products concentrate on
convenience goods =advertising
durables and expensive products= personal selling
both= public relations
consumer products concentrate on
have higher expenses but low cost per individual
national advertising/ sales promotion
can be difficult because lack of promotional channels
international promotion
is dependent on recruiting and hiring qualified salespeople
Personal selling
promoting a product to the next institution down the marketing channel
Push policy
promoting a product directly to consumers with the intention to develop strong consumer demand for products
Pull policy
personal, informal exchanges of communication that customers share with one another about products, brands, or companies
Word-of- mouth (WOM) communications
an attempt to incite publically and public excitement surrounding a product through a creative event. ex: shark week
Buzz marketing
a strategy to get consumers to share a marketer’s message, often through email or online video, in a way that spreads dramatically and quickly
Viral marketing
a form of advertising that strategically locates products or product promotions with entertainment media to reach a product’s target market
Product Placement
some are, but not all promotion should be condemned
laws, government regulation, and industry self-regulation have helped decrease deceptive promotion
is promotion deceptive?
if promotion is working to stimulate demand, producing and marketing larger quantities can actually help reduce prices
Does promotion increase prices?
marketing does not create needs but makes consumers aware of needs they already have
does promotion create needs?
marketers assert that values are instilled at home and promotion does not change people into materialistic consumers
does promotion encourage materialism?
promotions inform customers about a product’s uses, features, advantages, prices, or purchase locations
does promotion help customers without costing too much?
defenders argue that, as long as it is legal to sell a product, promoting it should be allowed
should potentially harmful products be promoted?
