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MGCR 352 > Promotion 1 (Lecture #19) > Flashcards

Promotion 1 (Lecture #19) Flashcards

1
Q

def. promotion

A

communicating product and service information to

target customers and other stakeholders of the firm

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2
Q

def. promotional mix

A

the mix of different kinds of promotion elements (e.g., advertising, personal selling, public relations, sales promotion, direct marketing) used to meet marketing goals

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3
Q

def. advertising

A

One-way non-personal communication about a product or organization
that is paid by the organization (e.g., TV, print, outdoor, digital, in-store)

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4
Q

advantages of advertising

A
  • reaches large audience

* control over messaging

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5
Q

disadvantages of advertising

A
  • costs can be high
  • small immediate effect on sales
  • lack of direct feedback
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6
Q

def. personal selling

A

Two-way flow of communication between buyer and seller, designed to influence the buyer’s purchase intentions

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7
Q

advantages of personal selling

A
  • provide detailed and customized information
  • get immediate feedback and can modify the message
  • build relationships with customers
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8
Q

disadvantages of personal selling

A
  • not effective in reaching large numbers of people
  • expensive on per contact basis
  • potential inconsistency in message
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9
Q

def. public relations

A

Creating a positive image for an organization or product/service via
publicity (e.g., press releases, sponsorship, events, crisis management)

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10
Q

advantages of public relations

A
  • seen as trustworthy (not directly from customer)

* reach mass audience

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11
Q

disadvantages of public relations

A
  • limited control over the public messaging

* can be expensive to create something worth covering

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12
Q

def. sales promotion

A

A short-term inducement of value offered to arouse interest in buying a
good or service (e.g., discounts, coupons, free samples)

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13
Q

advantages of sales promotions

A
  • effective in short-term sales increase
  • boost store or website traffic
  • easier to track
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14
Q

disadvantages of sales promotions

A
  • sales drop off when deals end

* can harm brand image

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15
Q

what are some sales promotions

A
  • sample
  • coupons
  • point-of-purchase displays
  • premiums
  • contests
  • loyalty programs
  • rebates
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16
Q

def. sample

A

small amount of a product given to consumers to try for free

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17
Q

def. coupons

A

provide an immediate price reduction off an item and the amount of the coupon is reimbursed to the retailer by the manufacturer

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18
Q

def. point-of-purchase displays

A

in-store displays designed to encourage consumers to buy products immediately

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19
Q

def. premiums

A

something consumers get for free or a small handling charge with proof of purchase

20
Q

def. contests

A

sales promotions that people enter or participate in order to win a prize

21
Q

def. loyalty programs

A

marketing efforts that reward the frequent purchase and consumption of an offering

22
Q

def. rebates

A

a promotion whereby part of the purchase price of an offering is refunded to a customer after the customer completes a form and sends in the proof of purchase (sales receipt)

23
Q

def. direct marketing

A

Any form of direct communication with the consumer designed to drive sales or interest (e.g., catalogs, email, telephone, brand social media pages

24
Q

advantages of direct marketing

A 
•Customization, quick modification
(e.g., online, social media)
•Cheaper than personal selling and advertising
•Interpersonal communication
•Easier to track and measure
25
Q

disadvantages of direct marketing

A
  • Declining consumer response

* Data management can be expensive

26
Q

Campaign: What do we want to achieve?

A

objective

27
Q

campaign: who should we talk to?

A

target

28
Q

campaign: what should we say?

A

message

29
Q

campaign: what channels do we use?

A

media

30
Q

campaign: how much should we spend?

A

budget

31
Q

campaign: did our campaign work?

A

evaluation

32
Q

what is the promotional objective related to the introduction stage of the product life cycle?

A

to inform

33
Q

what is the promotional objective related to the growth stage of the product life cycle?

A

to persuade

34
Q

what is the promotional objective related to the maturity stage of the product life cycle?

A

to remind

35
Q

what is the promotional objective related to the decline stage of the product life cycle?

A

to phase out

36
Q

What promotional tools can help inform consumers?

A

-PR, ads, free samples

37
Q

what promotional tools can help persuade consumers?

A

ads, personal selling

38
Q

what promotional tools can help remind consumers?

A

discounts, coupons, direct marketing

39
Q

what promotional tactics are useful during awareness and interest stages?

A

mass media (ads, PR)

40
Q

what promotional tactics are useful during desire and action stages?

A

-personal selling, sales promotions

41
Q

What are the three strategies to set the promotion budget?

A
  1. set budget as a % of sales
  2. set budget to match (or beat) competition
  3. “objectives and tasks” method
    - what end goal do you have in mind? (e.g., +50% in awareness)
    - determine what you need to spend to reach that
    goal
42
Q

what are some different ways to evaluate your campaign?

A
  • day-after recall (for TV ads)
  • sales changes
  • A/B testing
  • physiological testing
43
Q

what do you have to remember with regards to evaluating a marketing campaign?

A

-have to plan for this before you start the campaign

44
Q

describe integrated marketing communications (IMC)

A

-designing market communications programs that integrate and coordinate promotional mix to provide a clear and consistent message to audience

45
Q

what are key things to remember when designing a promotional mix?

A
  • Align your promotions with your positioning (STP) and with the rest of the marketing mix
  • A great promotions campaign is a key element of a marketing plan (but not all of it)
  • Define mission and metrics before spending any $$$ on advertising/promotions

MGCR 352 (15 decks)

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