Marketing ch 13 Flashcards
Be able to identify an example of a sponsorship
Company pays money to sponsor a person, group, or team. Build brand equity Positive feelings transferred to brand. To build brand equity and positive feelings toward a company, companies often engage in sponsorships and event marketing. The premise behind sponsorships is that positive feelings toward the sport, athlete, team, concert, or whatever is being sponsored will be transferred to the brand. There are sport and cultural events (music groups, bands, visual arts, also television sponsorships (coca cola and american idol) also social media and bloggers.
In a public relations program, what is a hit?
In a public relations program, a hit is a mention of the company’s name in a news story.
In terms of measuring the impact of public relations, a hit can enhance what?
In terms of measuring the impact of public relations, a hit can enhance brand or company awareness.
What are the functions of public relations?
Informing, persuading, and integrating Identify external and internal stakeholders, assess the corporate reputation, audit corporate social responsibility, create positive image-building activities, and prevent or reduce image damage. 1. Writing 2. Media Relations 3. Planning 4. Counseling 5. Researching 6. Community Relations 7. Consumer Relations
Be able to identify external stakeholders.
Public relations role is to identify and monitor internal and external stakeholders. PR should assess and monitor the corporate reputation and audit the firm’s corporate social responsibility. PR can be used to create positive, image-building activities that reflect positively on a company. It also has the responsibility to prevent and reduce image damage from negative events. This is a list of the primary stakeholders. Employees are the primary internal stakeholder. External stakeholders include the community, media, and special-interest groups: Media, Local community, Financial community, Government, Special-interest groups, Employees, Unions, Shareholders, Channel members, Customers. Internal stakeholders include employees and HR department.
What is corporate social responsibility?
A strategic commitment to ethical conduct and finding a balance between business success and improving the quality of life of employees, the community and society.
Meet society’s needs
-Prevent criticism and government regulation
-Business and society are interdependent
-Investors and consumers support CSR
-Corporate leaders are also citizens
-Initiative beats reaction
-Addressing social problems as a financial opportunity
· Assessment of a corporation’s reputation begins with what?
A corporate reputation is valuable, but very fragile. It is important to assess a company’s reputation on a regular basis. It is the role of the public relations department to monitor the corporate reputation. Considering its importance, less than half of companies do this.
What is cause-related marketing?
Ties marketing activities with a charity. To participate in cause-related marketing, businesses need to derive some benefits. Those benefits can be additional customers, increased profits, consumer goodwill for the future, better relations with government agencies, or reduced negative public opinion. However, supporting a cause will not overcome bad behavior on the part of a company. Charities also need to benefit. The primary benefit are funds to operate. But, often a charity can benefit by using a company’s name and the positive publicity that comes from the association.
What is greenwashing?
The way companies promote green activities varies widely. Low-key approaches are used by companies such as Coca-Cola and Starbuck’s. They post information on their websites, but that is all. Other companies, such as Toyota with its Prius, promotes the product first and the pro-environmental benefits second. Gas mileage is important with today’s economy and is the number one reason for purchasing a Prius. Other companies focus on being green and that is the central thrust of their message. Companies such as The Body Shop, Patagonia, and Honest Tea were founded and exist because of green marketing. Faking green, which is called greenwashing, can be very damaging to a company’s image and create a backlash. Companies that claim to make green products are being exposed by bloggers
** Additional Green marketing is the development and promotion of products that are environmentally safe. Surveys indicate people are concerned about the environment and support green marketing. For instance, people try to save electricity, recycle newspapers, return bottles and cans, and buy products made from recycled materials. While consumers say they are supportive of green marketing, most are not. For green products, many say it is important, but will only buy them if the price and quality is equal to competing brands that are not green. Most consumers still see green products as being inferior. Americans can be placed into one of five categories based on their beliefs and actions towards green marketing.
•True Blue Green (9%) US pop.
Have strong environmental values and are politically active in environmental issues. Heavy users of green products.
•Greenback Greens (6%) US pop
Have strong environmental values, but are not politically active. Heavy users of green products.
Sprouts (31%) US pop
Believe in green products in theory, but not in practice. Will buy green products, but only if equal to or superior to non-green products.
•Grousers (19%) US pop
Are uneducated about environmental issues and cynical about their ability to effect change. Believe green products are too expensive and inferior.
Basic Browns (33%) us pop
Do not care about environmental issues or social issues.
Be able to identify an example of crisis management
Damage-Control Strategies.
- Internet interventions- employees hired to respond to comment and investigate.
- Crisis management- Either accepting the blame and offering an apology or refuting those making the charges.
- Apology strategies- Presenting the full apology when firm has made error.
- Impression management-The conscious or unconscious attempt to control images projected in real or imagined social situations.
