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Marketing Management > Promotion strategy > Flashcards

Promotion strategy Flashcards

1
Q

What is advertising with promotion mix?

A

A paid form of non personal communication and presentation of ideas, goods, or services by an identified sponsor.

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2
Q

What is sales promotion with marketing mix?

A

Short term incentives to encourage the purchase

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3
Q

What are public relations with promotion mix?

A

Building good relationship with the company’s various public

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4
Q

What is personal selling with promotion mix?

A

Personal presentation by the firms sales force for the purpose of making sales

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5
Q

What is direct marketing with promotion mix?

A

Direct communication with target customers to obtain an immediate response(Emails, catalogues, online marketing)

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6
Q

What is the communication management process?

A
  1. Identifying the target audience
  2. Determining the communication objectives
  3. Setting the overall communication mix
  4. Setting the promo budget
  5. Designing a message
  6. Choosing media
    8 Selecting media source
  7. Collecting feedback
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7
Q

What should we consider when identifying the target audience?

A

Marketing goals, target market, positioning

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8
Q

Types of target audience

A

Potential buyers or current users, individuals, groups, special publics, or the general publics

-What, how, when, and where message will be said, as well as who will say it

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9
Q

What are the hierarchy of communication affects?

A
  1. Awareness: ~100% (everyone exposed to the message).
  2. Knowledge: ~70% (those who engage and understand the message).
  3. Preference: ~40% (those who favor the product).
  4. Purchase: ~20% (those who complete the purchase).
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10
Q

what are the communication objectives and communication examples of awareness?

A

Communication objectives: Inform new products

Communication example: Informative ad

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11
Q

What are the communication objectives and communication examples of knowledge?

A

Communication objectives: Inform attributes and benefits

Communication example: Rational appeal

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12
Q

What are the communication objectives and communication examples of Preference?

A

Communication objectives: Persuade

Communication example: add

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13
Q

What are the communication objectives and communication examples of purchase?

A

Communication objectives: Influence purchase behaviors

Communication example: Sales promotions

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14
Q

What is the purchase calculation?

A

P(Awareness)P(Knowledge)P(Preference)*P(Desired)

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15
Q

What is a push strategy for overall communication mix?

A

Pushing the product through distribution channels to final customers. It places emphasis on personal selling and trade promotion.

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16
Q

What is a pull strategy with overall communication mix?

A

Building up consumer demand which in-turn motivates channel members to carry the product. It places emphasis on advertising, consumer promotion, and direct marketing.

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17
Q

What are the 4 promotional budgeting methods:

A

-Affordability Method Budget set based on what the company can afford, without linking to goals.

-Percentage-of-Sales Method Budget is a fixed percentage of past or forecasted sales.

-Competitive-Parity Method Budget matches competitors’ spending to stay competitive.

-Objective-and-Task Method Budget set based on specific marketing objectives and the tasks needed to achieve them.

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18
Q

What is the AIDA model for designing a message?

A

The message should grab attention, hold interest, arouse desire, and obtain action.

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19
Q

What is message content for designing a message?

A

It combines both rational appeals and emotional appeals

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20
Q

What is message structure for designing a message?

A
  1. It is wether or not to draw conclusion
  2. One sided vs two sided arguments(One-Sided Arguments emphasize only the benefits of a product and are most effective with audiences that are already favorable or uninformed. Two-Sided Arguments present both pros and cons, addressing drawbacks to build trust, and work best with skeptical or informed audiences.)
  3. Order of argument presentation
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21
Q

What is message format?

A

Visual vs verbal, design, layout, color, shape, movement, words, etc

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22
Q

What is it when a media is marketer dominated(More controllable) and Personal(Interactive, more effective)?

A

Personal selling

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23
Q

What is it when a media is marketer dominated(More controllable) and impersonal(Passive and less effective)?

A

Advertising

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24
Q

What is it when a media is independent(More credible) and personal(Interactive and more effective)?

A

Word of mouth

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25
Q

What is it when a media is independent(More credible) and impersonal(Passive, less effective)?

A

Publicity(Tv, news, magazines)

26
Q

What are the 3 components of selecting a message source?

A

Credibility(Expertise, trustworthiness), Attractiveness(Physical attractiveness/celebrity), and similarity(Models similar to audience)

27
Q

Why is collecting feedback important?

A

Shows things such as sales and market share

28
Q

What are components with communication effectiveness?(There are 3)

A

Changes in beliefs/attitudes, changes in awareness/memory, and changes in non purchase behavior(Inquiry, website visit, click through behavior.)

29
Q

What are the advantages of advertising?

A

Message content control, very large reach, builds brand image and trust, and flexible with images, symbols, and creative/copy strategies

30
Q

What are the disadvantages of advertising?

A

Evaluating effectiveness is difficult and is often very expensive. It can sometimes be Impersonal with a lot of waste, noise, and color.

31
Q

What are the steps on selecting media?

A
  1. Deciding on reach, frequency, and impact
  2. Choosing among the major media types
  3. Selecting specific media vehicles
  4. Determining media timing
32
Q

What are reach, frequency, and impact with selecting media?

A
  • Reach is the percentage of target audience exposed to an ad
  • Frequency is the number of times a target audience is exposed to an ad
  • Impact is the quality and amount of information of an ad
33
Q

What is a media vehicle?

A

A medium such as people, sports illustrated, etc. Pretty much an add agency

CPM or cost per thousand is used to measure how much it costs to expose 1000 viewers to the content.

34
Q

What is the when and pattern(Continuous vs. pulsing) with media timing?

A

When: Refers to the specific times or seasons ads should run, aligning with peak consumer demand (e.g., holidays, back-to-school).

Pattern: Defines the scheduling of ads:

Continuous: Ads run steadily over time, good for consistent demand products (e.g., toothpaste).

Pulsing: Ads run in bursts with periods of no advertising, ideal for seasonal or fluctuating demand (e.g., holiday products).

35
Q

Advantages and disadvantages of the main media types: News papers

A

Advantages: Timely, widely read, low circulation cost

Disadvantages: Short ad life span

36
Q

Advantages and disadvantages of the main media types: Television

A

Advantages: Versatile, sound and motion, high attention

Disadvantages: Expensive, lack of permanence, inappropriate for complex message.

37
Q

Advantages and disadvantages of the main media types: Magazines

A

Advantages: High geographic demographic selectivity, high quality reproduction, long life, suitable for complex message.

Disadvantages: Less flexible, untimely

38
Q

Advantages and disadvantages of the main media types: Radio

A

Advantages: Low cost; high geographic and demographic selectivity

Disadvantages: Audio presentation only; low
level of attention; short life span

39
Q

Advantages and disadvantages of the main media types: Outdoor ads

A

Advantages: Low cost; flexible in geographic
coverage

Disadvantages: Only short messages

40
Q

Advantages and disadvantages of the main media types: Digital, mobile, social media

A

Advantages: High selectivity; Low cost; Immediacy; Interactivity

Disadvantages: Potentially low impact; Audience
control of content & exposure

41
Q

Why is the ads effect on sales difficult to evaluate(3 items)?

A

They are hard to evaluate because
-Other Marketing Efforts: Promotions, pricing, and distribution also influence sales.

-Different Goals: Ads may aim for awareness or preference, not immediate sales.

-Delayed Impact: Advertising effects often accumulate over time, not instantly.

42
Q

How do we evaluate communication effectiveness(3Parts)?

A

Effects on Memory:
Measured through metrics like “Day after” recall to assess how well the audience remembers the ad.

Effects on Liking:
Focus on how the ad influences beliefs and attitudes toward the product or brand.

Effects on Behavior:
Evaluates actions like company contact, click-through rates (for banner ads), and page views to gauge engagement.

43
Q

What are pros and cons of public relations building?

A

Pros: Credibility, reach broader prospects, cost

Cons: Lack of control, Noise(Unclear/unwanted message).

44
Q

What are pros and cons of personal selling?

A

Pros
– Persuasive and effective communication
– Customized presentation
– Can build long-term relationship with customers

Cons
– Very expensive
– Difficulty of managing sales force
– Communication effect may differ among salespeople

45
Q

What is the difference between personal selling vs advertising with nature of the market(Number of buyers, Geographic concentration, Types of customers)

A

Advertising: Number of buyers
- Large number
Personal selling: Number of buyers
- Limited number

Advertising Geographic concentration:
-Dispersed
Personal selling geographic concentration:
- Concentrated

Advertising types of customers:
- Individual customers
Personal selling types of customer:
- Business Buyers

46
Q

What is the difference between personal selling vs advertising with nature of product( Complexity, service requirement, Type of good)

A
  • Personal selling complexity: Custom made/complex
  • Advertising complexity: Standardized
  • Personal selling service requirement: Considerable
  • Advertising service requirement; Minimal
  • Personal selling type of good: Business
    -Advertising type of good: Consumer
47
Q

What are the stages of the plc personal selling and advertising are in?

A

Personal selling: Introductory

Advertising: Later part of growth/maturity stage

48
Q

What are the prices like for personal selling and advertising?

A

Personal selling: Higher unit value

Advertising: Lower unit value

49
Q

What are the components of sales force management(6 parts)?

A

-Manage ability and motivation
* Recruiting
– Intrinsic motivation; Disciplined work style; The ability to close a
sale; Ability to build relationships with customers
* Training
* Supervision
* Compensation
* Evaluation

50
Q

What is a territorial sales force structure?

A

Assigns salespeople to specific geographic areas to ensure focused customer coverage.

51
Q

What is a product sales force structure?

A

Salespeople specialize in selling specific products or product lines

52
Q

What is customer sales force structure?

A

Salespeople focus on specific customer types or industries to better meet their needs.

53
Q

What is team selling?

A

A group of specialists collaborates to sell complex products or serve large customers.

54
Q

What is the personal selling process?(7 parts)

A
  • Prospecting and Qualifying
    – Prospecting: identifying potential customers
    – Qualifying: screening prospects to select qualified potential buyers
  • Preapproach
    – Learning as much as possible about a prospective customer prior to
    making a sales call
  • Approach
    – Stage where the salesperson meets the customer for the first time
  • Presentation and Demonstration
    – Benefits of the product are presented/demonstrated
    – Understanding prospect needs is key
  • Handling Objections
  • Closing
    – Asking for the order
  • Follow-up
    – Helps ensure customer satisfaction
55
Q

What are the pros and cons of sales promotion?

A

Pros: Immediate impact on sales; Awareness

Cons: Damaging brand image & expected price; Short-lived effects

56
Q

Why is there a growing importance for sales promotion?

A

Immediate impact on sales; Decreased ad effects;
Increased competition; Deal proneness

57
Q

What are trade promotions?

A

Discounts:A reduction in price offered to buyers who purchase large volumes or meet specific criteria, encouraging bulk buying.

Allowances:Price reductions provided to sellers as incentives to promote a product.

Advertising Allowance:
A discount given to sellers to fund their advertising efforts for the product.

Display Allowance:
A discount offered to sellers to encourage prominent in-store product displays

58
Q

What are consumer promotions?

A

Samples, Coupons, Cash Refunds (Rebates), Price
packs (cents-off deals), Advertising Specialties,
Premiums, Patronage Rewards, Point-of-Purchase
Communications, Contests, Games, and Sweepstake

59
Q

Direct Marketing Pros and Cons

A

Pros: Immediate, Customized, Interactive, Low cost

Cons: Public policy and ethical concern
* Irritation, deception, and fraud
* Invasion of privacy

60
Q

What are traditional direct marketing channels?

A

-Catalogue
– Direct mail
– Telemarketing

61
Q

What are digital and social media marketing channels?

A

Online marketing
* Website, email, blogs
– Social media marketing
– Mobile marketing

Marketing Management (8 decks)

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