promo mix Flashcards
1
Q
is endowing products with the power of a brand. It’s all about
creating differences between products. A brand answers the question:
Who is the product?
A
Branding
2
Q
is the added value endowed on products. It may be reflected in customers’ brand knowledge as well as in the prices, market share, and profitability the brand commands.
A
Brand equity
3
Q
pertains to all the thoughts, feelings, images, experiences, and beliefs associated with the brand.
A
brand knowledge
4
Q
is the marketer’s vision of what the brand must be
and do for consumers
A
brand promise
5
Q
4 Key concepts of Brand Equity
A
Differentiation
Relevance
Esteem
Knowledge
6
Q
measures the degree to which a brand is seen as different from others, and its perceived momentum and leadership
A
Differentiation
7
Q
measures the appropriateness and breadth
of a brand’s appeal
A
Relevance
8
Q
measures perceptions of quality and loyalty, or how well the brand is regarded and respected
A
Esteem
9
Q
measures how aware and familiar consumers are with the brand.
A
Knowledge
10
Q
Stages of Brand Development
A
- Identity
- meaning
- response
- relationships
11
Q
Objective: Establish Brand awareness
A
Identity
12
Q
Objective: Establish points of
difference with competitors
A
meaning
13
Q
Objective: Communicate brand solutions to problems
A
response
14
Q
Objective: Establish customer’s brand loyalty
A
relationships
15
Q
Brand-building criteria
A
- Memorable
- Meaningful
- Likable
16
Q
Brand-defending criteria
A
- Transferable
- Adaptable
- Protectable
17
Q
intend to build the strength and relevance of the brand and equips it with characteristics that makes it stand out:
A
Brand-building criteria
18
Q
help leverage and preserve brand equity against
challenges
A
Brand-defending criteria
19
Q
being recognizable and easy to recall
A
Memorable
20
Q
leverages on the ingredients and target customer’s
tendencies
A
Meaningful
21
Q
being aesthetically appealing
A
Likable
22
Q
brand can be applied across product mix
A
Transferable
23
Q
brand is able to be updated and refreshed to adapt with customers’ liking
A
Adaptable
24
Q
brand should be protected from being used negatively
A
Protectable
25
Building Brand Elements
3 Characteristics of Strong Compelling Brands
Mystery
Sensuality
Intimacy
26
draws together stories, metaphors, dreams, and
symbols. Mystery adds to the complexity of relationships
and experiences because people are naturally drawn to
what they don’t know
Mystery
27
keeps the five senses of sight, hearing, smell, touch, and taste on constant alert for new textures, intriguing scents and tastes, wonderful music, and other sensory stimuli.
Sensuality
28
means empathy, commitment, and passion. The close connections that win intense loyalty.
Intimacy
29
Brand Narrative and Storytelling Techniques
Setting
Cast
Narrative arc
Language
30
choosing the appropriate time, place, and context
Setting
31
building the brand as a character, including its role in the life of the audience, its relationships and responsibilities, and its
history
Cast
32
establishing the way the narrative logic unfolds
over time, including actions, desired experiences, and defining events
Narrative arc
33
the authenticating voice, metaphors, symbols, themes
used should be aligned and appropriate
Language
34
are the means by which firms
attempt to inform, persuade, and remind consumers—directly or indirectly—about the products and brands they sell.
Marketing Communications
35
Steps in Developing Effective Marketing Communications
1. Identifying Target Audience
2. Determining Objectives
3. Designing Communications
4. Selecting Channels
5. Establishing Budget
6. Deciding on Marketing Communications Mix
7. Measuring & Managing Result
36
The target audience is a critical influence on how
marketing communications will be implemented.
- A current user vs a new user of the category (product
knowledge)
- An innovator vs a laggard (willingness to try)
- A brand loyal vs a switcher (willingness to switch)
- A heavy user vs a light user (duration of use)
Identifying Target Audience
37
4 Major Objectives
(Determining Communications Objectives)
Category Need, Brand Awareness, Brand Attitude, Brand Purchase Intention
38
establishing a product to remove or satisfy a perceived discrepancy between current and desired motivational states (Example: Non-acidic
Ascorbic acid boom – owners needed to establish that a
new Ascorbic Acid category is needed by the market)
Category Need
39
establishing brand recall to trigger purchase (Example: Biogesic tablet’s iconic “Ingat!” slogan triggers decision to purchase the brand)
Brand Awareness
40
to help customers evaluate the brand’s perceived ability to meet a current relevant need.
Brand Attitude
41
sensory gratification, intellectual stimulation, social approval
(Brand Attitude)
Positively oriented
41
problem removal, problem
avoidance, incomplete satisfaction, normal depletion
(Brand Attitude)
Negatively oriented
42
moving consumers to decide
to purchase the brand. (Example: coupons, deals, discounts,bundled promos)
Brand Purchase Intention
43
Designing Communications
Formulating communications to achieve the desired
response requires solving three problems:
- what to say (message strategy)
- how to say it (creative strategy)
- who should say it (message source)
44
In determining __________, a marketer searches for appeals, themes, or ideas that will tie in to the brand positioning and help establish points-of-parity or points-of difference.
message strategy
45
There are two factors that must be considered in crafting your message strategy:
1. Rewards expected from the product
2. How will customers visualize the reward from the product
46
3 Types of rewards expected from a product:
Rational
Sensory
Ego Satisfaction
47
logical outcome (Ex: a soap cleans, Paracetamol relieves pain)
Rational
48
organoleptic outcome (Ex: a multivitamin brand makes you feel better, a toothpaste brand feels fresh)
Sensory
49
confidence-boosting outcome (Ex: a deodorant brand makes someone smell like a king)
Ego Satisfaction
50
2 Ways consumers visualize product rewards:
Results-of-Use experience
Product-in-Use experience
51
rewards are visualized due to use of the product
Results-of-Use experience
52
rewards are visualized while using the product
Product-in-Use experience
53
are the way marketers translate their messages into a specific communication
Creative Strategy
54
depends on how a message is being expressed, as well as on its content. If a communication is ineffective, it may mean the wrong
message was used, or the right one was poorly expressed
Communications effectiveness
55
2 types of creative strategies:
1. Informational appeal
2. Transformational appeal
56
- elaborates on product attributes or benefits.
- assume strictly rational processing of the communication on the consumer’s part. Logic
and reason rule.
Informational Appeal
57
Types of informational appeals:
Problem solution ads (Solmux)
Product demonstration ads (Canesten)
Product comparison ads (Bioflu)
Testimonials from endorsers (Neozep)
58
- elaborates on a nonproduct-related benefit or image of
the product
- attempts to stir up emotions that will motivate purchase
Transformational Appeal
59
Types of transformational appeals:
Negative appeal
Positive appeal
Motivational appeal
60
(fear, guilt, and shame) - Immunpro
Negative appeal
61
(humor, love, joy, hope) - Centrum
Positive appeal
61
(uses “borrowed interest devices” such as a cheerful baby, cute puppies, popular music)
Motivational appeal
62
- Messages delivered by attractive or popular sources can achieve higher attention and recall, which is why
advertisers often use celebrities as spokespersons.
- Celebrities are likely to be effective when they are
credible or personify a key product attribute.
Message Source
63
Sources of endorser’s credibility:
Expertise
Trustworthiness
Likability
64
specialized knowledge
Expertise
65
objectivity and honesty
Trustworthiness
66
source’s attractiveness
Likability
67
Selecting an efficient means to carry the message becomes more difficult as channels of communication become more fragmented and cluttered.
Selecting Communication Channels
68
– individualized presentation and feedback (often more effective than non-personal)
Personal communication channels
69
Types of Personal communication channels
Advocate channels
Expert channels
Social channels
70
sales reps connecting with the customer
Advocate channels
71
independent experts providing a review of the
product
Expert channels
72
reference groups talking about the product
(neighbors, family, etc)
Social channels
73
ads, events, experiences, public relations, sales
promotions
Non-personal communication channels (mass media; targets the general public)
74
Deciding on how much to spend in marketing promotions is one of the most
difficult marketing decisions.
Establishing the Total Marketing Communications Budget
75
3 Common Methods of Budgeting Mktg. Comms.
Affordable Method
Percentage of Sales Method
Objective & Task Method
76
based only on what you can afford
Affordable Method
77
based on determined available funds after selling a product (% is based on past sales or competitors’ %
spending)
Percentage of Sales Method
78
budget is based on the marketing objective
and desired implementation tasks and strategies
Objective & Task Method
79
Companies must allocate the marketing communications budget over the 8 major modes of communication:
Deciding on the Marketing Communications Mix
80
8 major modes of communication:
1. Advertising
2. Sales promotion
3. Public relations & publicity
4. Events & Experiences
5. Direct marketing
6. Interactive marketing
7. Word-of-Mouth marketing
8. Personal Selling through sales force (sales reps)
81
reaches geographically dispersed buyers. It can build up a long-term image for a product or trigger quick sales. Remember: the mere presence of advertising might have an effect on sales
Advertising
82
General characteristics of Ads
Pervasiveness
Amplified expressiveness
Control
83
the company repeats the message of the ads repetitively so that consumers can quickly remember and/or
compare competitors
Pervasiveness
84
brand dramatization through print, sound, and color
Amplified expressiveness
85
companies control the aspects of the brand that needs communication focus (Example: focus on cheap price advertisement
than product advantages over competitors)
Control
86
5 Ms of Advertising
Mission
Money
Message
Media
Measurement
87
Use of promotional tools such as: coupons, premiums, discounts to trigger buyer response.
Sales Promotion
88
Highly relevant example of the marketing communications mix
because customers are personally involved and engaged while being
informed of the qualities of purchase points of the product or brand.
Events & Experiences
89
Used to challenge customer’s misconceptions. Some examples are news stories which are perceived to be more credible than ads or
mass media publicity that tells a story about the product, company, or brand. (includes a variety of programs to promote or protect a company’s image or individual products)
Public Relations & Publicity
90
Use of phone, online platforms, and face-to-face engagements to market the product
Direct & Interactive Marketing
91
Public & Ethical Issues in Direct Marketing:
Remember: These must be avoided at all times.
Irritation
Unfairness
Deception and fraud
Invasion of privacy
92
many people don’t like hard-sell, direct marketing solicitations
Irritation
93
some direct marketers take advantage of impulsive or less sophisticated buyers or prey on the vulnerable, especially the elderly
Unfairness
94
some direct marketers design mailers and write copy intended to mislead or exaggerate product size, performance claims.
Deception and fraud
95
a marketer must always abide to the Data Privacy Law of the
Philippines and treat customer data with highest level of care
Invasion of privacy
96
Can be both online (20%) and offline (80%). Customers tend
to believe and trust people whom they know and respect.
This type of marketing tool can become highly influential
due to its intimacy (personal dialogue between the
message giver and message receiver)
Word-of-Mouth Marketing
97
Personal selling is the most effective tool at later stages of the buying process, particularly in building up
buyer preference, conviction, and action.
Personal Selling
98
Steps in Effective Personal Selling
1. Prospecting and Qualifying
2. Pre-approach
3. Approach
4. Presentation and Demonstration
5. Handling Objections
6. Closing and Follow-up
99
Identify prospective customers
Prospecting and Qualifying
100
Learn the needs and wants of
the qualified customers
Pre-approach
101
Build the solution for the problem of the customer
Approach
102
Telling the story of the company, product, and brand.
Presenting the solutions to their problems.
Presentation and Demonstration
103
Clarify objections (Ex. Price, quality, reluctance to buy
Handling Objection
104
Provide a closing/summary statement and establish
repeat purchase
Closing and Follow-up
105
One of the most popular way to measure results is with the aid of a ________
good feedback
measurement.
105
Measuring the impacts of marketing communications is crucial because the
magnitude of that impact would be the basis of future budget allocation per marketing communication tool.
Measuring & Managing Results
106
pertains to the potential market
(Measuring & Managing Results)
Total
107
pertains to awareness of the market to the brand
(Measuring & Managing Results)
Awareness
108
pertains to consumers who are aware of the brand and their level of trial participation
(Measuring & Managing Results)
Brand trial
109
pertains to the consumers who are aware of the brand, tried the brand, and their level of satisfaction (experience)
(Measuring & Managing Results)
Satisfaction
