MKTG 448 Exam 2 - FLASHCARDS - Managing Marketing Communications
What are the two key decisions in establishing the strategic intent of a marketing communications program?
Setting the objective (mission) and defining the audience (market).
What are the three primary goals of effective communication?
Inform, Persuade, and Remind.
What type of communication is designed to stimulate a purchase or action?
Persuasive communication.
What type of communication seeks to convert an existing need into a want or to stimulate interest in a new product?
Informative communication.
What type of communication is used to keep the product and brand name in the public’s mind?
Reminder communication.
When is informative communication most commonly used?
During the early stages of the product life cycle.
When is persuasive communication commonly used?
When the product enters the growth stage of its life cycle.
When is reminder communication commonly used?
During the maturity stage of the life cycle.
What is the role of communication at the problem recognition stage of decision making?
Help identify new problems and needs and/or remind consumers of existing needs.
What is the role of communication at the information search stage of decision making?
Make consumers aware of a product and educate them about its features and benefits.
What is the role of communication at the evaluation of alternatives stage of decision making?
Assist consumer in making comparisons among solution options.
What is the role of communication at the purchase decision stage of decision making?
Prompt consumers into making the purchase.
What is the role of communication at the post purchase assessment stage of decision making?
Encourage product usage and make consumers feel good about their purchase decision.
What type of strategies are designed to motivate channel partners or intermediaries to sell the product to consumers?
Push strategies.
What type of strategies are designed to build demand with end consumers?
Pull strategies.
What is the difference between push and pull strategies?
Push strategies target sellers to promote the product, while pull strategies build demand among end consumers to drive them to purchase the product.
What is the advantage of an integrated communications program?
It delivers coordinated and complementary messages across all consumer touchpoints.
What is a strategic document that communicates the unique value a brand offers to a target market?
Positioning statement.
What is the main function of a marketing communication program?
The main function of a marketer’s communication program is to aid in the development of a competitive advantage over the competition.
What are the four elements of the communication mix?
Advertising, Public Relations, Personal Selling, Sales Promotion.
What is the communication mix also known as?
Promotional mix.
What is any form of impersonal (one-way) paid communication in which the sponsor or company is identified?
Advertising.
What is a benefit of advertising?
Ability to communicate to many people at one time.
What is the marketing function that evaluates public attitudes and executes a program of action?
Public relations.
What do marketers use public relations for?
To maintain a positive image, educate the public about the company’s goals and objectives, introduce new products, and help support the sales effort.
How is personal selling viewed traditionally compared to now?
Traditionally the goal was to just make a sale. Today, it is more about the relationship between the seller and buyer.
What consists of all marketing activities that stimulate consumer purchasing?
Sales promotion.
Which communication mix element involves two-way communication?
Personal Selling.
True or false: advertising, public relations, and sales promotion are generally impersonal, one-way means of mass communication.
TRUE.
Under what method do firms look at how much money they have available after deducting operational costs?
Affordable method.
Under what method does the firm decide to spend a percentage of current or future sales on their marketing campaign?
Percentage of sales method.
What method involves examining how much competitors are spending on marketing?
Competitive parity.
Under what method does the company calculate how much money they will need to achieve their objectives?
Objective and task method.
What is the most common method used to set a marketing communications budget?
Percentage-of-Sales Method.
What method calculates the budget based on objectives and tasks?
Objective and Task Method.
What are the two key elements to assess the effectiveness of marketing communications?
Message Delivery and Message Impact.
Give two examples of metrics used to measure message delivery.
Reach, Click-through rate (CTR).
What metric is commonly used to calculate the cost of reaching audiences?
Cost per thousand impressions (CPM).
Why is message impact more difficult to analyze than message delivery?
There is often a lag time between when a communication is delivered to consumers and when they respond to it by purchasing the product.
What are the two components of strategic intent?
Mission and Market.
Why is defining the target market critical in marketing communications?
It helps create messages that are resonant, relevant, and receptive to the audience.
What type of communication is common in competitive mature product categories?
Persuasive communication.
What psychographic information helps marketers understand their target audience?
Day-to-day lives, attitudes, beliefs, and behavioral characteristics.
What is the main benefit of advertising?
It communicates to many people at one time.
How does public relations support a company’s marketing efforts?
By maintaining a positive image, educating the public, introducing new products, and supporting sales efforts.
What is the primary purpose of sales promotion?
To stimulate immediate increases in demand.
What is the biggest advantage of personal selling?
It allows for two-way communication and immediate feedback.
What is a disadvantage of personal selling?
It is slow and not effective for reaching large audiences.
How does the competitive parity method set a marketing budget?
By matching or exceeding competitors’ spending.
What are the three steps in the objective and task method?
Set specific objectives, decide on tasks, calculate costs.
What is the main challenge of the objective and task method?
Estimating the cost of achieving objectives.
Name three digital methods marketers use to deliver messages.
Social media, Influencers, Interactive video kiosks.
How does generative AI help personal selling at scale?
It provides personalized, two-way communication through chatbots.
What are two metrics used to measure message virality?
Shares and impressions.
What does the affordable method prioritize when setting a budget?
Remaining funds after operational costs.
How do pull strategies create demand?
By building consumer desire, leading them to seek out the product.
What is the relationship between the marketing mix and the communication program?
The communication program is part of the overall marketing strategy to reach target segments.
In Markstrat, what is the primary objective of advertising?
What are the different execution styles?
• Slice of Life
• Lifestyle
• Fantasy
• Mood or Image
• Testimonial Evidence or Endorsement
• Musical
• Personality Symbol
• Technical Expertise
• Scientific Evidence
True or false: a pro of the percentage of sales method is that it is easy to implement?
TRUE.
True or false: a pro of competitive parity is that it helps prevent promotional wars in the industry?
TRUE.
Is a con of the affordable method that it ignores impact on sales?
Yes.
Is a con of the affordable method that it often results in under spending?
Yes.
Is the objective and task method easy to implement?
No.
