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marketing > Chp 15: advertising, sales promotion, personal selling > Flashcards

Chp 15: advertising, sales promotion, personal selling Flashcards

1
Q

LO1: define AIDA model

A

common model of series of mental stages through which consumers move as a result of marketing communications: attention leads to interest which leads to desire which leads to action

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2
Q

LO1: what does consumer do at each stage of AIDA model

A

At each stage, consumer makes judgements about whether to take next step in process

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3
Q

LO1: 3 types of responses of consumers and AIDA model

A

Customers have 3 types of responses: so AIDA is also known as think, feel, do model, but these steps don’t always follow AIDA order

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4
Q

LO1: attention: 2 types of awareness metrics

A

aided recall and top of mind awareness

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5
Q

LO1: attention: define aided recall

A

occurs when consumers recognize brand when its name is presented to them

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6
Q

LO1: attention: define top of mind awareness

A

prominent place in people’s memories that triggers a response without them having to put any thought into it

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7
Q

LO1: attention: 3 points to top of mind awareness

A

1) Example: immediately thinking of harley when asked about motorcycles
2) Can be built through memorable names, repeatedly exposing their name to customers through advertising, locations + sponsorships, and using memorable symbols
3) Highest level of awareness

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8
Q

LO1: attention: 2 points to attention

A

1) Need to gain attention of consumer
2) Brand awareness refers to potential consumer’s ability to recognize or recall that brand name. It is the strength of the link between brand name and type of goods/services in minds of consumers

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9
Q

LO1: interest: 3 points

A

1) Once consumer knows company or product exists, communication must work to increase his interest level
2) Consumers must be persuaded that it is a product worth investigating
3) Ensure ad’s message includes attributes of interest to target audience

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10
Q

LO1: desire: 1 point

A

Goal of subsequent messages after firm has piqued interest of target market is moving consumer from i like to i want it

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11
Q

LO1: action: 1 point

A

If message has caught consumer’s attention and made them interested enough to consider the product as a means to satisfy a specific desire of theirs, they likely will act on that interest by making a purchase

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12
Q

LO1: define lagged effect

A

delayed response to a marketing communication campaign

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13
Q

LO1: 1 point to lagged effect

A

Generally takes multiple exposures to an ad before consumer fully processing its message and acts - they don’t act immediately sometimes

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14
Q

LO1: define advertising

A

paid form of communication from an identifiable source, delivered through communication channel and designed to persuade receiver to take some action, now or in future

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15
Q

LO1: 2 points to advertising

A

1) Advertising must be carried by some medium like print, tv, radio etc
2) Ads represent a persuasive form of communication, designed to get consumer to take some action

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16
Q

LO1: what do ad campaigns try to achieve

A

All advertising campaigns aim to achieve certain objectives: to inform, persuade and remind customers

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17
Q

LO1: 3 types of advertising

A

1) informative
2) persuasive
3) reminder

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18
Q

LO1: define informative advertising

A

communication used to create + build brand awareness, with ultimate goal of moving consumer through buying cycle to a purchase

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19
Q

LO1: 2 points to informative advertising

A

1) Helps determine some important early stage of PLC, especially when consumers have little info about product
2) Can be used to tell customers about upcoming sale or arrival of new goods

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20
Q

LO1: define persuasive advertising

A

communication used to motivate consumers to take action

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21
Q

LO1: 2 points to persuasive advertising

A

1) Generally occurs in growth + early maturity stages of PLC when competition is most intense and helps to accelerate market’s acceptance of product
2) Later stages, can be used to reposition an established brand by persuading consumers to change their existing perceptions of advertised product

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22
Q

LO1: define reminder advertising

A

communication used to remind consumers of a product or to prompt repurchases, especially for products that have gained market acceptance and are in maturity stage of life cycle

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23
Q

LO1: 2 focus of advertisements

A

1) product focused
2) institutional ads
3) product category, industry, firm etc

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24
Q

LO1: define product focused ads

A

used to inform, persuade or remind consumers about specific product/service

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25
Q

LO1: define institutional ads

A

used to inform, persuade and remind consumers about issues related to places, politics, an industry or a particular corporation

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26
Q

LO1: 1 point to focus of ads

A

Can also generate demand for product category, entire industry, specific brand, specific firm, specific item

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27
Q

LO1: define product placement

A

inclusion of a product in nontraditional situations like in a scene in a movie or tv program

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28
Q

LO1: define public service announcement

A

advertising that focuses on public welfare and generally is sponsored by non-profit institutions, civic groups, religious orgs, trade associations or political groups; form of social marketing

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29
Q

LO1: 1 point to product placement

A

Sometimes firms don’t pay for product placements

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30
Q

LO1: define social marketing

A

application of marketing principles to a social issue to bring about attitudinal and behavioural change among general public or specific population segment

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31
Q

LO1: what must ad campaign objectives be?

A

must be specific and measurable

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32
Q

LO2: what does regulation of ad involve

A

complex mix of formal laws and informal restrictions designed to protect consumers from deceptive practices

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33
Q

LO2: primary federal agencies that regulate ad activities

A

1) competitive bureau canada/competition act
2) CRTC
3) health canada/food and drugs act
4) advertising standards canada

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34
Q

LO2: 2 points to competition bureau canada and their competition act

A

1) Enforces federal laws that ensure business in canada operate in fair + equitable manner
2) Enforces laws relating to misleading ads and deceptive marketing practices

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35
Q

LO2: 3 points to CRTC

A

1) Regulates and supervises all aspects of canadian broadcasting system
2) Enforces restrictions on broadcasting material and administers codes that have an impact for specific categories of advertising like code for ad of alcohol beverages
3) Must approve all tv and radio ads before they can be broadcast

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36
Q

LO2: 2 points to health canada and their food and drug act

A

1) Regulates food, drug, cosmetics and medical devices
2) Establishes standards + requirements for safety and sanitation of products. Regulates labelling of food products pertaining to nutrition labelling, nutrient content, health claims

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37
Q

LO2: 2 points to advertising standards canada

A

1) Monitors voluntary ad industry codes
2) Administers canadian code of advertising standards, gender portrayal guidelines, broadcast code for advertising to children

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38
Q

LO2: define puffery

A

legal exaggeration of praise, stopping just short of deception, lavished on a product

39
Q

LO2: 2 points to puffery

A

1) Legal in canada as consumers viewed as rational and capable of evaluating advertising claims
2) In EU, puffery considered deception

40
Q

LO3: define sales promotion

A

special incentives or excitement building program that encourage consumers to purchase particular product. Typically used with other ads or personal selling programs

41
Q

LO3: what is value in sales promotion

A

closing the deal rather than generates attention, interest, desire in ads

42
Q

LO3: 2 types of sales promotion

A

Can be pull or push strategy (for consumer or trade)

43
Q

LO3: 9 types of consumer sales promotion

A

1) coupons
2) deals
3) premiums
4) contests
5) sweepstakes
6) samples
7) loyalty programs
8) point of purchase displays
9) rebates

44
Q

LO3: objective, benefit, bad of coupons

A

Objective: stimulate demand
Benefit: encourage retailer support, allow for direct tracing of sales
Bad: have low redemption rates, have high cost

45
Q

LO3: 2 points to coupons

A

1) Coupons offer discount on price of items when purchase

2) Coupons sent to mobile phones or printed from internet may contain info about consumer who uses them

46
Q

LO3: objective, good, bad of deals

A

1) Objective: encourages trial
2) Good: reduces consumer risk, retaliate against competitive action
3) Bad: may reduce perception of value

47
Q

LO3: define deals

A

type of short term price reduction like featured price (price lower than regular price), buy one get one free, certain % more free offer contained in larger packaging, special financing arrangement

48
Q

LO3: 2 points to deals

A

1) Lower risk by reducing cost of good

2) Price reduction can signal different price/quality relationship

49
Q

LO3; objective, good, bad of premiums

A

1) Objective: build goodwill
2) Good: increase perception of value
3) Bad: result in consumers who buy for premium, not product & have to be carefully managed

50
Q

LO3: define premium

A

item offered for free or at bargain price to reward some type of behaviour like buying, sampling or testing

51
Q

LO3: objective, good, bad of contests

A

Objective: increase consumer involvement
Good: generate excitement
Bad: require creativity, must be monitored

52
Q

LO3: define contests

A

brand sponsored competition that requires some form of skill or effort

53
Q

LO3: goal, good, bad of sweepstakes

A

1) Goal: encourage higher consumption
2) Good: minimize brand switching among existing consumers
3) Bad: sales often decline after

54
Q

LO3: define sweepstakes

A

offers prizes based on chance drawing of entrant’s name

55
Q

lO3: goal, good, bad of sampling

A

1) Goal: encourage trial
2) Good: offer direct involvement
3) Bad: high cost to firm

56
Q

LO3: define sampling

A

offers potential customers opportunity to try product/service before making buying decision

57
Q

LO3: goal, good, bad of loyalty programs

A

Goal: encourage repurchase
Good: create loyalty
Bad: high cost to firm

58
Q

LO3: define loyalty programs

A

specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time

59
Q

LO3: goal, good, bad of point of purchase displays

A

Goal: increase brand trial
Good: provide high visibility, provide in store support
Bad: difficult to get good location in store, can be costly to firm

60
Q

LO3: define point of purchase displays

A

merchandise display located at point of purchase, such as checkout counter

61
Q

LO3: goal, good, bad of rebates

A

Goal: stimulate demand
Good: increase value perception
Bad: easily copied by competitors, may just advance future sales

62
Q

LO3: 1 point to rebates

A

Portion of purchase price is return by seller to the buyer

63
Q

LO3: explain trade channel sales promotions

A

Help convince retailers + wholesaler to stock a new brand, give it eye level shelf space and promote it in flyers and other advertisements

64
Q

LO3: 3 types of trade channel sales promotions

A

1) discounts and allowances
2) cooperative ads
3) sales force training

65
Q

LO3: explain discounts and allowances

A

Used to maintain or increase levels in distribution channel

66
Q

LO3: 2 points to cooperative advertising

A

1) Helps compensate trade channel members for money they spend promoting products and encourages them to feature products more often
2) Manufacturers helps pay for the retailers ads

67
Q

LO3: 2 points to sales force training

A

1) Retailers have contact with end consumer are responsible for selling the products they carry, manufacturers sometimes offer to train retailers staff
2) More in depth product knowledge for sales person which enhances confidence in product and increases likelihood of future sales

68
Q

LO3: what to be careful with for sales promotions

A

Be careful in promotions that lower prices, when they are offered consumers may just stock up now which simply shifts sales from future to now and leads to short run benefits at expense of long term sales stability

69
Q

LO3: define pop up stores

A

temporary storefronts that exist for only a limited time and generally focus on new product or limited group of products offered by retailer, manufacturer or service provider; gives consumers chance to interact with brand and build brand awareness

70
Q

LO3: 2 sales promotion tools

A

1) pop up stores

2) cross promoting

71
Q

LO3: define cross promoting

A

efforts of 2+ firms joining together to reach specific target market

72
Q

LO3: when is cross promoting effective

A

To be effective, the 2 products must appeal to same target market and together create value of consumers

73
Q

LO3: what was traditionally sales promotions used for

A

Traditionally sales promotions was to generate short term results and ads for long term results but either can do both

74
Q

LO3: 6 points on how to evaluate sales/trade promotion

A

1) realized margin from promotion
2) cost of additional inventory carried because of buying more than normal amount of product
3) potential increase in sales from promoted goods
4) long term impact on sales of promotion
5) potential loss suffered when consumers switch to promoted goods from more profitable goods
6) additional sales made to customers attracted to store by promotion

75
Q

LO4: define personal selling

A

Personal selling is 2 way flow of communication between buyer and seller that is designed to influence buyer’s purchase decision

76
Q

LO4: 3 ways personal selling contributes t 4PS and IMC

A

1) salesperson is in unique position to customize message for specific buyer because of one to one nature of sales - preplanned sales presentation or demonstration can be altered at any time as need arises
2) salesperson can probe buyer for his/her potential reservations about product, educate buyer when appropriate, and ask for order to appropriate time
3) sales presentation can be directed to customers with highest potential (more efficient and cost effective

77
Q

LO4: 3 value added by personal selling

A

1) salespeople build relationships
2) salespeople educate + provide advice
3) salespeople save time + simplify buying

78
Q

LO4: define relationship selling

A

sales philosophy and process that emphasize commitment to maintaining relationship over long term and investing in opportunities that are mutually beneficial to all parties

79
Q

LO4; 4 points to salespeople build relationships

A

1) Good sales people take long term perspective and build relationships with customers
2) Positive customer-salesperson relationship contributes to trust, increased customer loyalty and intent to continue that relationship
3) Salesperson can record customer/purchase info into data warehouse and when data has been analyzed, CRM programs developed and salespeople can implement them to identify and focus on building loyalty with firm’s most valued customers
4) Can contact customers about new products, can ask about what they liked/disliked about product/transaction with firm, or can be social to make customer feel important

80
Q

LO4; how salespeople save time and simplify buying

A

Can save time by doing a lot of the tasks that retail employees would do like setting up displays, assessing inventory levels, writing orders

81
Q

LO5: 5 steps in personal selling process

A

1) generate and qualify leads
2) pre approach and use of CRM systems
3) sales presentation + overcoming objectives
4) closing the sale
5) follow up

82
Q

LO5: define leads (step 1)

A

list of potential customers

83
Q

LO5: define qualify (step 1)

A

process of assessing potential of sales leads

84
Q

LO5: define trade shows (step 1)

A

major events attended by buyers who choose to be exposed to products/services offered by potential suppliers in an industry

85
Q

LO5: define cold calls (step 1)

A

method of prospecting in which sales people phone or see customers without appointments

86
Q

LO5: define telemarketing (Step 1)

A

method of prospecting in which salespeople phone potential customers

87
Q

LO5: points to step 1: generate and qualify leads

A

1) Salespeople with already established relationship with customer will skip this step and not often used in retail settings
2) Can discover leads by talking to current customers, doing research at internet, networking at industry events, trade shows, cold calls, telemarketing
3) In qualify, don’t judge book by cover and assume person doesn’t fit store’s image or can’t afford to purchase there. But should assess potential customer’s needs pertain to product and if lead has financial resources to pay for product

88
Q

LO5: define pre approach (Step 2)

A

occurs prior to meeting customer for first time and extends qualification of leads procedure

89
Q

LO5: 3 points to step 2) pre approach and use of CRM systems

A

1) Salesperson conduct additional research + develops plans for meeting with customer
2) Important info about customer helps establish value for customers and is often stored in CRM systems
3) With research, sales person can establish goals for meeting with customer

90
Q

LO5: 2 points to presentation in step 3

A

1) Salesperson needs to get to know customer, get their attention and create interest in presentation to follow
2) Adapt and customize presentation to match customer’s need and stage in decision process along with their knowledge based on product/industry

91
Q

LO5: 2 points to handling objectives in step 3

A

1) Customers may raise objectives like value (price too high for level of quality/service)
2) Sales people should know types of objections buyers likely to raise to anticipate and handle them

92
Q

LO5: define closing the sale (step 4)

A

obtaining commitment from customer to make purchase

93
Q

LO5: 1 point to step 4: closing sale

A

Good salespeople listen to what potential customers have to say and pay attention to body language

94
Q

LO5: 4 points to step 5: follow up

A

1) Attitudes customers develop after sale become basis for how they will purchase in the future
2) service quality dimensions (seen before)
3) Best way is to check with customer after they take possession of product, this speed demonstrates responsiveness + empathy and shows customer that sales person and firm cares about customer satisfaction
5) Post sales follow up takes salesperson back to first step in sales process for initiating new order and sustaining relationship

marketing (18 decks)

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