EXAM 1 Flashcards
Market Communication
communicates key marketing messages to target audience
Marketing Mix
Four tools of product, price, plays, and promotion
Producer Suppliers
Companies producers obtain materials from to produce their product
Consumer Market
Selling products to general audience
B2B
Organizations that produce products for other businesses in their operations or resale
Institutional Markets
Nonprofits that buy products to use in delivering their services
Channel Markets
Members of distribution chain including resellers
Consumers need for the product is…
The goal of marketing achieved by matching the products availability to
Supply chain
Complex network of vendors that produce components sold to manufacturers
Most marketing communication dollars are spent on…
Consumer markets
All communications
One voice
IMC
Unifying all market communication efforts so they send consisten brand message to audience
Intangible feature of brand
Products perceived value
Brand equity
Financial value brand contributes to company
Brand extension
Use of established brand name with related line of products
Domestic approach marketing
Tries to make accommodations in marketing mix for cultural differences
Brand relationship strategies
Build long term loyalty with customers
Identification
Basic function of advertising
Strategy
Measurable objectives in areas of sales and reputation
Broadcast media
Radio and TV
Advertising campaign
Set of related ads that are variations on a theme
Providing information
Explain how product works in campaign
PT Barnum
Conducted first full ad campaign
Account executive
Serves as a bridge between advertising client and ad agency
PSA
Type of PR that deals with public welfare issues that run for free
Advertiser
Person or organization that uses advertising to send message about product
In house agency
Agency within organization that performs all tasks an outside agency would
Creative boutique
Small ad agency that concentrates entirely on preparing creative execution of product
Media buying service
Purchase media at low cost because it can group several clients purchases together
Key players in advertising
Advertiser, agency, media, suppliers
What was the first main for of compensation ?
15% commission
Social versus economic debate
Questions whether advertising creates or reflects social values
Cultural imperialism
When western culture is imposed on others
Federal trade commission
Provides regulations protecting costumers from misleading claims
Puffery
Advertising that praises product with exaggerations with no facts
Comparative advertising
Message strategy that compares features with another brand
Shockvertising
Attracts attention
Demand creation
External message creates want
Marketing imperialism
Practices that result in imposing foreign cultural values on local culture with different values
Culture imperialism
Impact of western culture on traditional culture
False advertising
Misleading untrue message
Endorsement
Advertising done by individual the make consumer believe opinion on product
Blogola
Influencers paid to endorse product as a customer
Code of ethics
Help guide toward ethical behavior
Self regulation
Advertisers establish ethical standards that anticipate complaints
Self discipline
Develop own norms
Local group
Provide local businesses with advice concerning legal aspects of advertising
FCC
Regulates radio and TV communications
BATF
Regulates advertising and requirements for alcohol
Deceptive advertising
Misleads consumer with false claims and not disclosing facts
Claim substantiation
Advertiser should have reasonable basis for making claim about product performance
Corrective advertising
Advertiser runs message correcting false impressions
Consumer redress
Refunds or sends public notification