Chapter 8: Promotional Strategies Flashcards
Activities that communicates a products value to consumers
Promotion
Advertising, Sales Promotion, Personal Selling & Public Relations
Four Elements of Promoting
Non-personal communication of goods services, or ideas
Advertising
Nonpersonal communication tools that help stimulate quicker and consistant purchases of a product.
Sales Promotion
Communication between a sales-person and a consumer
Personal Selling
Communication between a company and their customers promoting a positive image
Public Relations
The coordination of promotion-mix elements with the goal of sharing a specific message with customers
Integrated Marketing Communications (IMC)
Why should firms use marketing research?
Firms should use marketing research to determine which promotion elements increase sales, build equity, and improve relationships with the public.
Advertising is paid for by..
Sponsors
Solely advertising through media
Non-personal Advertising
Advertising that is controlled by whomever purchased it. Includes the location and time frame of the ad.
Paid Advertising
Planned advertisements that share a specific theme
Advertising Campaign
Inform, Persuade, Remind
Objectives of advertising campaigns
Advertising that develops demand
Informative Advertising
Advertising that increases consumer demands
Persuasive Advertising
Advertising that keeps a product in the public’s view
Reminder Advertising
A firms choice of advertising depends on what?
The firms intention to either inform, persuade, or remind a demographic.
Combining sensory components, appealing emotionally to consumers, product demonstration, and Narrowcasting.
Advantages of TV Advertising
High Advertising Costs, and DVR Ad-skipping
Disadvantages of TV Advertising
The promotion of branded material in media production
Product Placement
Desktop and Mobile Advertising
Internet Advertising
Advertising links custom to a consumer’s search history
Paid Search Advertising
Communicating directly to consumers in order to get a response
Direct Marketing
Newspapers & Magazines
Print Advertising
Spreading information to a narrow demographic
Narrowcasting
Effective for small businesses, specific audience target, specific ad placements.
Advantages of Print Advertising
Results sensitive to placement, decreased use by younger audience, delayed release date, and easy failure of unimaginative ads.
Disadvantages of Print Advertising
$27 Billion
How much is spent per year on radio advertising?
Allows easy geographic segmentation and is cost-effective
Advantages of Radio Advertising
Audio only, and Ad-Free Channels
Disadvantages of Radio Advertising
Billboards, Signs, Skywriting, Building Ads
Outdoor Advertising
Flexible, Cost-efficient, Targeted Ad Location
Advantages of Outdoor Advertising
Low exposure time, limited space, wasted coverage
Disadvantages if Outdoor Advertising
Advertising to a mobile device
Mobile Advertising
Provides a discount on a product or service
Coupon
illegal copying of coupon, mistakenly giving bigger discount amount, or reusing the same one-time use coupon
Misredemtion of a Coupon
Receiving money after making a purchase via mailing in a receipt to a manufacturer.
Rebates
Trials or product testers that help consumers decide whether they wish to purchase a product.
Samples
Promotions that pit consumers against each other in hopes of winning a prize
Contest
Promotions where entries have equal chances to win prizes.
Sweepstakes
Promotional items that give consumers incentive for purchasing a product or service
Premiums
Accumulating points that can be cashed in for rewards from being a loyal customer.
Loyalty Programs
Tools used to promote products or services to wholesalers and retailers
Trade Sales Promotions
An event where a company promotes products to potential customers
Trade Shows
Paying retailers for financial losses associated with promotions
Allowances
Providing activities that help retail personnel understand a product
Training
Immediate Feedback, and Relationship Selling
Advantages of Personal Selling
Building and maintaining trust with consumers
Relationship Selling
A way for an organization to share achievements with stakeholders
Annual Reports
Lets an organization market a message to a group in public
Speeches
A tool used in order to share thoughts with the public
Blogs
Short Informational literature
Brochures
Product samples, press releases, answeres to FAQ’s, and contact information
Media Kit
Media Kits are..
packages of information given to the press
Organizations that pay for their name to be used in a project, program, or facilities
Sponsorship
Developing events promoting to a target market
Event Marketing
People are more mad with a company during a crisis when what occurs?
When a company covers up, or delays efforts to improve a crisis?
Marketers can ___________________ in order to entice consumers to spend money, donate, or support someone.
share an organizations actions positively
A sample of consumers that evaluated ads before a campaign begins
Pretest
An evaluation after the campaign with the same segment of consumers
Posttest
Showing consumers physical advertisements and asking if they’ve seen it before.
Recognition Test
Recalling promotional material without hints
Unaided Recall Test
Recalling promotional material with hints
Aided Recall Tests
How much of a market has been exposed to an ad.
Reach (%)
The amount of times consumers see an ad
Frequency
Ad revenue received compared to advertising costs
Revenue per ad dollar
Budget based on what a company thinks they can afford
Affordable Budgeting Method
Designating a specific chunk of a prior (or future) periods sales to the promotional budget
Percentage-of-Sales Method
