Exam 3 Flashcards
Paid Media
A category of promotional tactic based on the traditional advertising model, whereby a brand pays a media space
Earned Media
A category of promotional tactic based on a public relations or publicity model that gets customers talking about products or services
Owned Media
A new category of promotional tactic based on brands becoming publishers of their own content in order to maximize the brands’ value to customers
Medium
The channel used to convey a message to a target market
Reach
The number of target consumers exposed to a commercial at least once during a specific period, usually four weeks
Frequency
The number of times an individual is exposed to a given message during a specific period
Public Relations
The element in the promotional mix that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance
Sales Promotion
Marketing communication activities other than advertising, personal selling, and public relations, in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value
Social Commerce
A subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services
Microblogs
Blog with strict post length limits
Social News Sites
Web site that allows users to decide which content is promoted on a given Web site by voting that content up or down
Price
That which is given up in exchange to acquire a good or service
Market Share
A company’s product sales as a percentage of total sales for that industry
Dynamic Pricing
A strategy whereby prices are adjusted over time to maximize a company’s revenues
Variable Cost
A cost that varies with changes in the level of output
