Exam #1 Flashcards
1
Q
What are the six M’s of marcom?
A
mission, market, message, media, money and measurement
2
Q
What portions of the 6Ms of marcom are under strategic INTENT?
A
mission and market
3
Q
What portions of the 6Ms of marcom are under strategic EXECUTION?
A
message and media
4
Q
What portions of the 6Ms of marcom are under strategic IMPACT?
A
money and measurement
5
Q
A paid, mass-mediated attempt to persuade is _________________.
A
advertising
6
Q
A single piece of sponsored communication is an _______.
A
ad
7
Q
A series of ads, often across various media outlets, overarching messaging, is an _______ _____________.
A
ad campaign
8
Q
The range of complementary promotional tools that marketers use to create widespread brand is called ___________________________.
A
integrated marketing communications
9
Q
A push market strategy is when…
A
target sellers of the product (retailers, distributors, etc.) as the audience
10
Q
A pull market strategy is when…
A
target end users of the product as the audience
11
Q
A strategic document that communicates the unique value the brand offers to a particular target market segment is the _________________.
A
brand positioning statement
12
Q
Communication between the firm and the customer initiated by the FIRM is ____________ marketing.
A
outbound
13
Q
Communication initiated by the consumer is _____________ marketing.
A
inbound
14
Q
What are the seven components of building your comms. strategy?
A
situational analysis
set biz + mktg objectives
determine the real problem
choose your target
outline consumer journey
see budget
write client-to-agency brief
15
Q
What are the components of situational analysis?
A
- brand history
- brand fundamentals
- market trends
- industry trends / competition
16
Q
What are the three types of objectives?
A
- biz objectives
- mktg objectives
- comms objectives
17
Q
Communication can… (3 things)
A
- create AWARENESS
- change consumer feelings / perception
- persuade customer to take action
18
Q
What are the steps in the customer journey?
A
Awareness –> Appeal –> Ask –> Act –> Advocacy
19
Q
The parts of the consumer journey that are considered CONSIDERATION are…
A
awareness and appeal
20
Q
The parts of the consumer journey that are considered CONVERSION are…
A
ask and act
21
Q
The parts of the consumer journey that are considered CONSUMPTION are…
A
act and advocacy
22
Q
When you have to hit more parts of the funnel…
A
the campaign becomes MORE EXPENSIVE.
23
Q
_________________ is making a heterogeneous group into a homogeneous group.
A
segmentation
24
Q
What are the four main types of consumer segmentation?
A
demographic
psychographic
geographic
behavioral
25
What are the benefits to demographic segmentation?
- clear approach
- cheap
- easy to reach
- good data
26
What are the drawbacks to demographic segmentation?
- too broad
- often stark diff. within a demographic
27
What are the benefits to psychographic segmentation?
- easier to craft msg.
- be compelling
28
What are the drawbacks to psychographic segmentation?
- expensive to target via media
29
What are the benefits to geographic segmentation?
- diff. in interests, values and preferences is very proximity-based
30
What are the drawbacks to geographic segmentation?
- easy to default to stereotypes
31
What are the benefits of behavioral segmentation?
- easy to be compelling if you know the consumer well
32
A company should target the segment(s) in which it can...
profitably generate the most customer value over time.
33
What are the two types of targets?
* media target (people who should see your ad campaigns)
* design target (creating a consumer persona)
34
A(n) _______ is a profound understanding of a person, thing, situation or issue; human truth.
insight
35
A(n) ________ is data that quantifies behavior.
fact
36
A(n) ________ is an emerging pattern or behavior.
trend
37
What was the provided structure for insight development?
(statement one) because of (statement two) which means (consequence).
38
The document written by strategists to communicate key information about a specific project so that creatives have a guide / blueprint against which to construct an ad or campaign is the ____________________.
creative brief
39
A good creative brief should have input from...
BOTH the agent and the client.
40
What happens when the AGENT writes the creative brief?
* they work in the same org. as the creatives, so development is streamlined
* agency is required to have more insight and connection to the business
41
What happens when the CLIENT writes the creative brief?
* they often know more abt. the target consumer, product + reasons / objectives for creating the ad
* overall deeper insight
42
What are the main components of the ad agency?
- exec team (lead org., financial stability + growth)
- account services (mng. clients, meet biz. objectives, track $$, lead internally)
- planning / strat. (client research, "voice of customer")
- creative (art directors, copywriters, digital specialists)
- production services (outsourcing to get ads made)
- media services (buy + plan)
- admin. (finance, traffic, accounting, HR, exec. assistants)
43
Crafting the meaning of a brand through words is _____________.
copywriting
44
The ________________ has a focus on the image.
art director
45
What are the six macro tools available to a marketer?
1. traditional advertising
2. digital advertising
3. direct marketing
4. buzz marketing
5. shopper + promotion
6. earned media
46
These mediums are included under traditional advertising.
TV, radio, magazines, newspapers, outdoor
47
What are the benefits of using TV advertising?
- builds brands on a large scale
- convey emotion
- offer coverage / reach / reputation
- low cost per contact
48
What are the disadvantages of TV advertising?
- it's dying
- somewhat hard to track
49
What are the advantages of radio advertising?
- low-cost
- targeted
- convergence w/new tech
50
What are the disadvantages of radio advertising?
- poor audience attentiveness
- low buying power
51
What are the advantages of magazine advertising?
- long shelf life
- audience selectivity
- reader is at their own pace
52
What are the disadvantages of magazine advertising?
- super niche
- take a long time to read
53
What are the advantages of newspaper advertising?
- credible
- locally powerful
- older demographic
54
What are the disadvantages of newspaper advertising?
- cluttered
- dated
- low print quality
55
What are the advantages of outdoor advertising?
- evolves
- fresh
- effective + immediately used
56
What are the disadvantages of outdoor advertising?
- hard to track
- seen as clutter
57
These are included under digital advertising.
Search (SEM), display, online video ad (OLV), mobile marketing, social media.
58
Geo-fencing is targeting a customer...
within a certain radius.
59
Geo-targeting is targeting a customer...
within a certain radius AND fulfills another segment.
60
These are included under direct marketing.
Catalogs, direct mail, email, retargeting, telemarketing, direct response TV / infomercials.
61
These are included under buzz marketing.
Product placement, sponsorships, branded entertainment and events, branded utility, and cause marketing.
62
These are included under shopper and promotional marketing.
sales promo, premiums, coupons, retail displays, contests and sweepstakes, trade advertising.
63
What is the difference between contests and sweepstakes?
contest -> you do something
sweepstakes -> win by chance
64
These are included under earned media.
Influencer marketing, C2C, search engine optimization (SEO), publicity and PR
65
A ________________ is a document of how/when-where/why for media, includes accompanying costs.
media plan!
66
A media _________ is the category (TV, radio, print, etc.)
class
67
A media __________ is the option within the media (Food Network, Wall Street Journal, etc.)
vehicle
68
The media _______ is a blend of different media.
mix
69
The percentage of people in your target that you aim to hit.
reach
70
The average number of times an individual is exposed to a media vehicle in a period of time.
frequency
71
The _________________________ is the sum of your exposures, contains duplicate impression.
gross impressions
72
How do you calculate the cost per thousand?
(cost of media buy * 1000)
_____________________________
total media audience
73
Cost per thousand is abbreviated by...
CPM
74
What do the following stand for?
CPM, CPC, CPA
Cost Per Thousand
Cost Per Click
Cost Per Action
75
CTV = connected TV, including things like...
Netflix, Hulu, Disney+
76
The percentage of TV households tuned into a specific program when considering every TV household available...
ratings
77
How to calculate the share of audience for TV?
of TV households tuned into a program
____________________________________________
# of TVs in use during that time
78
You calculate your Gross Rating Points, or GRPs, by...
multiplying reach * frequency
79
Your Cost Per Point, or CPP, measures:
* what the GRP costs
* essentially, the cost of reaching 1% of your target audience
80
How do you calculate your Cost Per Point (CPP)?
cost / GRPs or
cost / (reach * frequency)
81
How often people who see an ad click on it is your...
Click Through Rate (CTR)
82
The % of clicks that led to the desired action is your...
Conversion Rate
83
The % of visitors to a website that only look at one page before leaving is the...
bounce rate
84
How much one advertiser pays for one click is the...
Cost Per Click (CPC)
85
When advertisers pay vendors / publishers based on the number of clicks, it's called...
Pay Per Click (PPC)
86
Using AI to buy digital adspace for you is...
programmatic buying.
87
___________________________ is a digital ad strategy that involves displaying ads to users based on the content of the webpage you're currently viewing.
Contextual targeting
88
What are the four types of media scheduling?
1. continuity
2. front loading
3. flighting
4. pulsing
89
What media scheduling tactic should a brand like Tide use?
continuity
90
What media scheduling tactic should a brand like Lego use?
flighting (think Christmas!)
91
What media scheduling tactic should a brand like Miller Lite use?
pulsing
92
Describe each of the media scheduling tactics.
Continuity:
_ _ _ _ _ _ _ _
Front Loading:
=== - - - _ _ _
Flighting:
--- --- --- ---
Pulsing:
__ -- __ -- __ -- __
93
If you can manage it, this media scheduling strategy is typically the most effective.
continuity
94
Your excess share of voice is defined by....
The degree to which your
share of voice > share of market.
95
Why is the Super Bowl important from an advertising standpoint?
- more "eyeballs" than any other event
- biggest ads event in the world, "MASS!"
- immense gap btwn. SB and other events
- audience spans all ages and both genders
- audience is semi-captive (esp. to ads)
- cost is HIGH
- ad success can pay off all year
- avg. payback is 4.5 : 1
96
What are the five ways that Super Bowl ads are different?
1. very broad target
2. lighter tone usually works best
3. longer ad
4. usually very visual
5. big budget production
97
What is top-down budget setting?
- fixed set of $$ at the beginning, plan the campaign around your fixed funding
98
What is bottom-up budgeting?
- figure out what you need to succeed and cost it out, request that amount
99
Factors that can influence the amount you get when using TOP-DOWN budgeting:
1. funds available (duh)
2. last year + / -
3. % of sales
4. share of voice (spend at least what those in your market share are spending)
100
How to calculate share-of-voice?
your spend
___________________________
total spending in category
101
Other costs to consider when budgeting media:
- production costs
- owned media costs
- celebrity / influencer
- agency compensation
102
What are the different ways to set up agency compensation?
- commission
- hourly rate
- scope of work fee
- pay-for-results
103
What are the two components of measurement?
1. delivery
2. impact
104
How to calculate share of search?
search vol. earned organically by you
______________________________________
volume of category
105
How do you calculate the ROI?
gross profit of sales
generated by the campaign
_________________________________
cost of the marketing investment
106
Why is ROI considered time-sensitive?
- upper funnel needs time
- lower funnel not so much
107
Four main factors that can influence your spending:
- competitive spend
(rigor = expensive)
- audience accessibility
- task complexity
- HR investment
108
What to consider in the situational analysis of a company:
- brand HISTORY
- brand FUNDAMENTALS
- market TRENDS
- market COMPETITION /
industry TRENDS
109
Framing business objectives:
S.M.A.R.T. goals
(specific, measurable, achievable, relevant, time-bound)
110
Framing marketing objectives:
How will we achieve growth?
1. steal share
2. increase household penetration
3. increase buy rate
111
What media is best when the customer is in the AWARENESS stage of the customer journey?
mass media
112
What media is best when the customer is in the APPEAL stage of the customer journey?
image media, targeted media
113
What media is best when the customer is in the ASK stage of the customer journey?
media allowing for detail; search
114
What media is best when the customer is in the ACT stage of the customer journey?
media near purchase
115
What media is best when the customer is in the ADVOCACY stage of the customer journey?
social media; post-purchase media
116
True or false: not all customers go through the stages of the "funnel" in the proper order.
TRUE
117
What is STP marketing?
[S]egment the market -> choose your [T]arget -> [P]ositioning / promise
118
Name a few examples of ways to demographically segment a market.
income
age
race
sex
family
119
Name a few examples of ways to psychographically segment a market.
values
opinions
attitudes
activities
lifestyle
120
Name a few examples of ways to geographically segment a market.
international
regional
zip code
climate
121
Name a few examples of ways to behaviorally segment a market.
volume
benefits sought
usage rate
usage occasion
brand loyalty
122
The average internet user has 5.54 social media accounts. This is a:
- fact
- trend
- insight
fact
123
People post pictures of significant events on social media
as soon as they happen in real life. This is a:
- fact
- trend
- insight
trend
124
A significant event lacks significance until other people
have responded to it. This is a:
- fact
- trend
- insight
insight
