EXAM Prep. Flashcards
What is the Integrated Marketing Communications (IMC)?
The co-ordination and management of promotional and marketing elements that communicate to the consumer & other stakeholders.
What are the 6 key parts of the Integrated Marketing Communications (IMC)?
Complementary - elements of the marketing mix
Consistent message
More efficient use of promotional budgets and tools
Greater impact
Better overall control
Greater reach with the target market
What are the 4 stages of the life cycle?
- Introduction
- Growth
- Mature
- Decline
What is the Push Strategy?
Business try to take product to consumers by getting retailers to stock product.
What is the Pull Strategy?
Business try to get consumers to come to them through advertisements, words of mouth etc.
What are the 6 steps of the campaign planning issues?
- Goal setting and tracking
- Campaign insight
- Segmentation and targeting
- Budgeting and selecting the digital media mix
- Offer and message development
- Integration into overall media schedule or plan
What is the definition of SMART?
Specific, Measurable, Attainable, Relevant, Time Specific.
What are Marketing Objectives
Marketing objectives are specific outcomes that can be measured.
Example - to increase market share in the industry by 10% for year ending 31 December 2018.
What are Sales Promotions?
Are short term incentives directed at buyers designed to obtain immediate and easily measurable behavioural responses.
What are marketing goals?
A broad statement about what an organisation hopes to achieve via its corporate/marketing strategies
Example - to be seen as the essential companion to anyone dieting
What are communication objectives?
What the company aims to achieve with its promotional programme.
Example - By October 1 2018, 60% of target market would have interacted with the product.
What are the 4 common budget methods?
- Percentage of sales - basing off last year sales or expected sales.
- Affordable Method - how much the company can afford
- Competitive parity method - based on what competitors are expected to be spending
- Objective and task method - based on how much it costs to achieve objectives and tasks that are set by objectives.
Define Reach
The percentage of the target audience that is exposed to the advertising message at least once during the specific time frame
Define frequency
The number of times on average during the specified time period that the target audience will be exposed to the advertising message.
CPM stands for?
Cost per thousands
IDU benefit analysis (Importance Delivery Uniqueness)
IDU is a multi attribute model useful to help managers in deciding: which benefits are important
Which benefits out brand deliver well on
What benefits to focus on in the firms communication strategy
What is the Single Minded Proposition - SMP?
The most important thing you can say about your brand based on strategic proposition
Example - V “V keeps you going for longer”
What are the 4 message appeals?
Emotional vs Rational
Sex
Humours
Fear
Continuous Schedule Definition
Advertisement runs continuously for a specified time period
Flighting Schedule
Advertisement runs for a period, then stops for a period, then starts again. Good for seasonal advertising
Pulsing Schedule
Combines both flighting and continuous by having low period of advertisement continuously but also having heavy peaks of advertisement during certain time periods.
Search Engine Marketing (SEM)
SEM is promoting an organisation through search engines to meet its objectives by delivering relevant content in the search listings for searchers and encouraging them to click through to a destination site
What are the 2 main types of SEM?
Natural or Organic listings Paid Search (pay-per-click) Marketing PPC.
What is Search Engine Optimisation (SEO)
A structured approach used to increase the position of a company or its products in search engine natural or organic results listings (the main body of the search results page) for selected key words or phrases.
Advantages of SEO
Significant traffic driver
Highly targeted
Potentially low-cost visitors
Dynamic
Disadvantages of SEO
Lack of predictability Time for results to be implemented Complexity and dynamic nature Ongoing investment Poor for developing awareness in comparison with other media channels
4 steps to optimising your website
Target market business analysis
Keyword research and development
Content optimisation and submission
Continuous testing and measuring
4 key areas of Public Relations (PR)
Attracting visitors through searches
Engagement and dialogue
Building campaign buzz
Defensive / crisis
What is the channel buyer behaviour (key ratios)
Describes which content is visited and the time and duration
What is the Channel Outcomes (key ratios)
Record of customer actions taken as a consequence of a visit to a site
What is the conversion rate
Percentage of site visitors who perform a particular action such as making a purchase
Why do Marketing Metrics matter?
Measures firms activities and performances
Used to identify problems
Help make decisions
Disadvantages of Marketing Performance Metrics
Performance metrics can be misused
Quality of analysis depends on data - garbage in garbage out - need to use accurate numbers
Utilise several metrics before making decisions.
Net Marketing Contribution (NMC)
Measures marketing profitability
How effective strategies are
