Chapter 18/19/20: Promotion Flashcards
Promotion
The element of the marketing mix that is focused on communication; a means of communication between the seller and buyer
Communication
The process of conveying a message to others and that requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding
Source
A company or person who has information to convey during the communication process
Message
Information sent by a source to a receiver during the communication process
Receiver
Consumer who reads, hears, or sees the messsage
Channel of Communication
The means of conveying a message to a receiver during the communication process
Field of Experience
Mutually shared understanding and knowledge that the sender and receiver apply to the message so that it can be communicated effectively during the communication process
Encoding
The process of having the sender transform an idea into a set of symbols during the communication process
Decoding
The process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process
Feedback
Indicates whether a message was decoded and understood as intended during the communication process
Response
The impact the message had on the receiver’s knowledge, attitudes, or behaviors during the communication process
Noise
Extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process
What is the promotional mix used for?
Inform, Persuade, Remind
Inform
Develop initial demand
Persuade
Increase demand
Remind
Reinforce previous promotional activity
Public Relations
Seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services
Publicity
Nonpersonal, indirectly paid presentation of an organization, product, or service
Sales Promotion
Short-term inducement of value offered to arouse interest in buying a product or service
Trade-Oriented Sales Promotion
Sales tools used to support a company’s advertising and personal selling directed to wholesalers, distributors, or retailers
Consumer-Oriented Sales Promotion
Sales tools used to support a company’s advertising and personal selling directed to ultimate consumers
What are examples of Consumer-Oriented Sales Promotion?
- Coupons
- Refunds or Rebates
- Sampling
- Deal
- Bonus Pack
- Sweepstakes
- Contests
- Loyalty Programs
- Product Payment
- Point of Purchase Displays
Social (vs. Traditional) Media
- Ability to reach both large and niche audiences - Expense and access
- Training and number of people involved
- Time to delivery
- Permanence (to remain unchanged)
- Credibility and social authority
Social Commerce
Using social media (notably Facebook, Instagram, Twitter, Pinterest) to browse and buy online without going to a company’s website to conduct business
Social Shopping
Use of social network services and websites by consumers to share their latest purchases, deals, coupons, product reviews, want lists, and other shopping finds with friends and contacts
Guerrilla Marketing
Unconventional, innovative, and low-cost techniques to attract consumers’ attention
Interactive Marketing
Two-way promotional messages transmitted through communication channels, Induce message recipients to participate actively in the promotional effort
Sponsorships
Relationship in which an organization provides money or in-kind resources to an event or activity in exchange for a direct association with that event or activity
Influencer Marketing
Focusing on the identification and recruitment of influencers to advocate a company’s products, services, and brands rather than focusing exclusively on prospective buyers
Viral Marketing
Encourages individuals to forward marketer- initiated messages to others via e-mail, social networking websites, and blogs
Integrated Marketing Communications (IMC)
Looks at promotion through the consumers’ eyes, begins with consumers’ wants and needs and then works in reverse to link promotion along with the other three marketing mix variables
