Exam Three Flashcards
What is contained within the promotion mix?
Advertising Public Relations Sales Promotion Personal Selling Social Media
What is paid media?
the traditional advertising model, whereby a brand pays for media space. Traditionally, paid media has included television, magazine, outdoor, radio, or newspaper advertising. Paid media also includes display advertising on Web sites, pay-per-click advertising on search engines, and even promoted tweets on Twitter. Paid media is quite important, especially as it migrates to the Web.
What is Earned Media?
public relations or publicity model. The idea is to get people talking about the brand—whether through media coverage (as in traditional public relations) or through word of mouth (through sharing on social media sites). Earned media is often created when people talk and share content on social media. Additionally, search engine optimization (SEO), whereby companies embed key words into content to increase their positioning on search engine results pages (SERPs), can also be considered earned media.
What is Owned Media?
a new form of promotional tactic where brands are becoming publishers of their own content in order to maximize the brand’s value to customers as well as increase their search rank in Google. Owned media includes the company’s Web sites as well as its official presence on Facebook, Twitter, YouTube channels, blogs, and other platforms. This media is controlled by the brand but continuously keeps the customer and his or her needs in mind as it creates videos, blog posts, contests, photos, and other pieces of content.
When it comes to advertising how would you define a a “Medium?”
A channel used to convey a message to a target market.
When it comes to marketing how would you define “Reach?”
the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks
When it comes to marketing how would you define “Frequency?”
The number of times an individual is exposed to a give message during a specific period of time.
When it comes to marketing what is public relations?
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance.
What does sales promotion consist of?
Sales promotion consists of all marketing activities— other than personal selling, advertising, and public relations—that stimulate consumer purchasing and dealer effectiveness. Sales promotion is generally a short-run tool used to stimulate immediate increases in demand. Sales promotion can be aimed at end consumers, trade customers, or a company’s employees.
What is social commerce?
Combines social media with the basics of e-commerce. Social commerce is 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.* Basically, social commerce relies on user-generated content on Web sites to assist consumers with purchases.
What on earth is a micro blog?
blogs that entail shorter posts than traditional blogs. Twitter, the most popular microblogging platform, requires that posts be no more than 140 characters in length. However, there are several other platforms, including Tumblr, Plurk, and, of course, Facebook’s status updates. Unlike Twitter, these platforms allow users to post longer pieces of text, videos, images, and links
How would you define a “social new” site?
allow users to decide which content is promoted on a given Web site by voting that content up or down. Users post news stories and multimedia on crowdsourced sites such as Reddit for the community to vote on. The more interest from readers, the higher the story or video is ranked.
What does price mean to the consumer?
The cost of something.
What does price mean to the seller?
The revenue incurred from something.
What is the books definition of market share?
A company’s product sales as a percentage of total sales for that industry.
According to the book what is dynamic pricing?
a strategy whereby prices are adjusted over time to maximize a company’s revenues
What is variable cost?
a cost that varies with changes in the level of output; an example of a variable cost is the cost of materials.
What is fixed cost?.
A cost that does not change as output is increased or decreased
What is the base price of a product?
The general price level at which the company expects to sell the good or service.
What is a cash discount?
a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill. Prompt payment saves the seller carrying charges and billing expenses and allows the seller to avoid bad debt.
What is a functional discount? or otherwise known as a trade discount?
A high-volume wholesaler might be entitled to a 40% trade discount, while a medium-volume wholesaler is given a 30% trade discount. A retail customer will receive no trade discount and will have to pay the published or list price.
What is a promotional allowance?
These are price reductions given to the buyer for performing some promotional activity
What are the steps of the communication process?
1 - Sender 2 - Encoding the message 3 - Message Channel 4 - Decoding he message 5 - Reciever
What are some examples of the Sender when it comes to the communication process?
Marketing managere
ad manageer
ad agency
or customers
What are some examples of encoding the message when it comes to the communication process?
Ad presentation store display coupon press release social media
What are some examples of the message channel when it comes to the communication process?
media
sales person
retail store
local news show
What are some examples when it comes to decoding the message in the communication process?
receiver who is also the interpretation of the message
What are some examples when it comes to the receiving end of the of the communication process?
customers viewers listeners new media clients
What are the four goals of promotion?
Informing
Persuading
Reminding
Connecting
What does informative promotion do?
Informative promotion seeks to convert an existing need into a want or to stimulate interest in a new product.
