Final Exam Flashcards
IMC
- integrated marketing communications
- involves coordinating the various promotional elements and other marketing activities that communicate with a firm’s customers
IMC plan
- developing, implementing, and controlling an organizations IMC plan
- provides clarity, consistency, and maximum communications impact
- ensures all marketing and promotional provides image
- look and feel of a brand
Promotional mix
tools that accomplish an organizations communication objectives
- advertising
- direct marketing
- digital/internet marketing
- sales promotion
- publicity/public relations
- personal selling
Advertising
-any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor
Advertising benefits
- most cost effective way to reach large numbers of consumers
- builds brand equity by influencing consumers perception
National advertising
done on a nationwide basis or in most regions
Retail/local advertising
advertising to consumer markets
primary-demand advertising
stimulates demand for the general product class or industry
selective-demand advertising
creates demand for a specific company’s brand
business-to-business advertising
targets individuals who buy or influence the purchase of industrial goods or services for their companies
professional advertising
targets professionals, encouraging them to use a company’s product in their business
trade advertising
targets marketing channel members, encouraging them to stock, promote, and resell the manufacturers branded products to their costumers
Four P’s
- product
- price
- promotion
- place
Marketing
activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for:
-customers, clients, partners, and society at large
exchange
involves parties with:
- something of value to one another
- desire and ability to give up something to the other party
- way to communicate with each other
Value
the customers perception of all the benefits of a product or service
Brand equity
intangible asset of added value or goodwill that results from the favorable image, impressions of differentiation, and/or the strength of consumer attachment of a company name, brand name, or trademark
competitive advantage
attributes that give a firm an edge over competitors
- better quality products
- superior customer service
- low production costs and lower prices
- dominating channels of distribution
- advertising
market segmentation
-dividing a market into distinct groups with common needs, who respond similarly to a marketing situation
geographic segmentation
markets are divided into different geographic units
psychographic segmentation
dividing the market on the basis of personality, lifecycles, and/or lifestyles
demographic segmentation
dividing the market on the basis of age, gender, family size, social class, education, income
positioning
fitting a product or service to one or more segments of the market to make it unique within the marketplace
positioning by product attributes and benefits
- sets the brand apart from from competitors on the basis of specific characteristics or benefits offered
- important to consumers and are the basis for making a purchase decision
- positions the product by comparing the benefit it offers versus the competition
repositioning
altering a products or brands positioning due to declining sales
positioning strategies
positioning by
- price/quality
- use or application
- cultural symbols
- product class
product class
rather than positioning against another brand, position oneself against another product category
consumer decision-making process stages
- problem recognition
- information search
- alternative evaluation
- purchase decision
- postpurchase evaluation
problem recognition
- consumer perceives a need and gets motivated to solve the problem
- caused by a difference between consumer’s ideal state and actual state
sources/cause of the problem
- out of stock
- dissatisfaction
- new products, related products, or purchases
- marketer induced problem recognition
internal information search
the process by which a consumer acquires information by accessing past experiences or knowledge stored in memory
external information search
seeking information from external sources
- internet, personal, and public sources
- marketer controlled sources
- personal experience
communication process
success depends on such factors as the nature of the message, the audiences interpretation of it, and the environment in which it is received
- source/sender
- encoding
- channel
- message
- decoding
- receiver
- reponse
- noise
- feedback
encoding
putting thoughts, ideas or information in a symbolic form
- verbal
- graphic
- musical
- animation
decoding
transforming the sender’s message into thought
-heavily influenced by the receiver’s field of experience
message
contains the information or meaning the source hopes to convey
channel
facilities communication between sender and receiver
-nonpersonal channel or mass media
3 ways to measure success
- grow sale volume
- grow profit/RDI
- grow market share
sales oriented
- aim to increase sales
- required to produce quantifiable results
- based on the achievement of sales results
marketing objectives
-goals to be accomplished by an organization’s overall marketing program such as sales, market share, or profitability
communication objectives
- provide relevant information
- create favorable predispositions toward the brand problems
- translating sales goals into communication objectives
characteristics of communication objectives
- present concrete and measurable tasks
- well defined target audience
- take into consideration the benchmark and the degree of change sought
- specify the time period in which the goals must be accomplished
creative strategy
determines what the advertising message will say or communicate
advertising creativity
- ability to generate fresh, unique, and appropriate ideas that can be used as solutions to communication problems
- designs to break through the color
- and used to communicate “favorable impressions” to the marketplace
advertising campaign
-a set of interrelated and coordinated marketing communications activities that center on a single theme or idea that appears in different media across a specified time period
major selling idea
the basis for the central theme or message idea in an advertising campaign, strongest singular thing a company can say about its product or service
- using a unique selling proposition
- creating a brand image
- finding the inherent drama
- positioning
advertising appeal
approach used to attract consumers attention and/or influence their feelings toward the product, service, or cause
creative execution style
manner in which a particular appeal/style is turned into an advertising message
Rational appeal
focus on the consumer’s practical, functional, or utilitarian need for the product or service
emphasize:
-features of a product or service and/or the benefits
-reasons for owning or using a particular brand
-feature appeal- focus on dominate traits
types of rational appeal
- competitive advantage appeal
- feature appeal
- favorable price appeal
- news appeal
- product/service popularity appeal
emotional appeal
- relate to the customer’s social and psychological needs for purchasing a product or service
- create favorable effect on consumers evaluations of a brand
advantages of emotional appeal
- more effective
- work well during economic downturns
- influence consumers interpretations of product usage experience
parts of a print ad
- headline
- subheads
- body copy
- visual elements
- layout
layout
- the physical arrangement of the various parts of the ad, including the headline, subheads, body copy, illustrations, and any identifying marks
- shows where each part of the ad will be placed and gives guidelines
slice of life
- based on a problem/solution approach
- focuses on the consequences and the results
testimonial
-messages are presented by a person who elaborates on his or her personal experience with it
demonstration
-illustrates the key advantages of the product by showing its actual use
dramatization
-focuses on telling a short story with the product or service as the star
humor
-used to present other advertising appeals
combinations
-using various execution techniques
imagery
- consists of visual elements or imagery rather than information
- associate brand with symbols, characteristics, or situation
scientific/technical evidence
-advertisers cite technical/scientific information to support their claims
comparison
- shows a brand’s particular advantage over its rivals
- helps in positioning a new or less known brand with industry leaders
animation
uses animated scenes
personality symbols
developing a central character that can deliver the advertising message
straight-sell
relies on straight forward presentation of information
frequency
number of times the target audience is exposed to the media vehicle in a given time period
reach
the number of potential target audiences exposed to a media vehicle in a given period of time
continuity
pattern of advertising…everyday, week, or month
-food products, laundry detergent
flighting
intermediate periods of advertising
-seasonal, holiday periods, travel
pulsing
combination of continuity and flighting advertising but more heavier during key peak selling period
media plan
- guides the media selection
- aims to find a combination of media to communicate a message
- series of decisions involved in delivering the promotional message to the purchasers/users of the product/brand
developing a media plan
- market analysis
- establishment of media objectives
- media strategy development and implementation
- evaluation and follow up
media objectives
to develop a framework…
- that will deliver the message to the target audience
- in the most efficient and cost effective manner
media strategies
plan of action designed to attain the media objectives
sweep period
times of year used for measuring TV audiences and setting advertising rates
MRI
MRI= mediamark research
- provides information on consumers product/category uses
- broken down into types of usage: light, medium, heavy
alternative media
- a term commonly used in advertising to describe support media
- used to deliver communications and promote products and services
in store media
- closest to decision making process
- 2/3 make their decision while shopping
product placement
agreement by a company to pay a fee to have its product featured in a movie or TV programs
promotional products
the advertising or promotional medium or method that uses promotional products such as ad specialties, premiums, business gifts, awards, prizes, or commemoratives
direct marketing defined
- a system of marketing by which organizations communicate directly with target customers to generate a response or transaction
- interactive system of marketing
- uses one or more advertising media to effect a measurable response/transaction
direct marketing objectives
- to seek a behavioral response
- to maintain customer satisfaction
- to inform and/or educate consumers in an attempt to lead to future actions
direct-response media
- tools by which direct marketers implement the communication process
- valuable tool in the IMC process
- generate immediate response
- create a direct channel of distribution
- objectives are different from other IMC programs
one step approach
medium is used directly to obtain an order and immediate sales
two step approach
uses more than one medium
- first effort: screens potential buyer
- second effect: generates the response and close the deal
maling list
constitutes the database from which names are generated, and the ability to segment markets and, of course the offer
promotional tools use to support DM
- advertising
- public relations
- personal selling
- sales promotion
- support media
evaluating the effectiveness
cost per order (CPO): evaluates the relative effectiveness of an ad based on the number of calls generated
sales promotion
- as consumers get closer to the decision making process sales promotions become more important to the overall IMC program
- gives consumers a short-term incentive to purchase a product
sales promotion advantages
- can provide an inducement to marketing intermediates such as wholesalers and retailers
- essentially an acceleration tool designed to speed up the selling process and maximize sales volume
- can be targeted to different parties in the marketing channel
sales promotion disadvantages
- many SP tactics are not “effective brand building tools”
- can result in “less” positive attitudes toward the product
- can have lower effect on profitability
- marketing managers become oriented to short term goals
sampling
involves a variety of procedures whereby consumers are given some quantity of a product for no charge to induce trial
- most effective way to generate trial
- most expensive
- sure method of putting a product directly into the hands of the consumer
- no consumer financial risk
- generate goodwill
sampling is best when…
- used to generate trial of a new product or improved product
- encourage new use for an established brand
premium
- offer of an item either free or at a low price that is an extra incentive to the consumer
- types: free small gifts or merchandise
- reinforces the brand message
- effective way to target specific group of consumers or competitive brand
contest
- demonstrate some sort of “skill”
- most people will enter only a few times
coupons
by far the most popular and relied upon form of consumer sales promotion
frequency (loyalty) program
- designed to create and reward brand loyalty among consumers who might “switch” to another brand
- cash rewards now the fastest growing form of consumer promotions
bonus packs
- rewards
- takes them out of the market for a longer period of time
- effective against new competitors launch
role of PR
- traditional role: maintain mutually beneficial relationships between the organization and its publics
- new role: work together with the marketing department more broader, contribute to the IMC process in a way that is consistent with marketing goals
PR advantages
- credibility
- cost
- avoidance of clutter
- lead generation
- ability to reach specific groups
- image building
tools for PR
- interviews
- exclusives
- internet
corporate advertising
designed to promote the overall firm rather than a specific product by:
- enhancing the company image
- assuming a position on a social cause
- seeking direct involvement in something
- helps to identify the company mission and vision
types of corporate advertising
- image advertising: general image, sponsorship, recruiting
- event sponsorship
- advocacy advertising
- cause related marketing
press release
one of the most important publics
- the source of a press release can improve the likelihood that the “news” will be disseminated by:
- ensuring that it reaches the right target audience making it interesting
- easy to pass along
measuring PR effectiveness
- it tells management what has been achieved through pubic relations activities
- it provides management with a way to measure public relations achievements quantitively
- it gives management a way to judge the quality of public relations achievements and activities
measuring advertising effectiveness
reasons to measure: -avoid costly mistakes -evaluate alternative strategies -increased IMC efficiency -determine if objectives are achieved reasons not to measure: -costs involved -research problems -disagreement on what to test -lack of time
concept testing
- earliest stage
- explores consumers responses to various ad concepts as expressed in words, pictures, or symbols
concept testing techniques used
- mall intercepts
- in dept interviews
- questionnaires
- focus groups
