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Marketing 2202 Final > Promotions > Flashcards

Promotions Flashcards

1
Q

promotions

A

the coordination of marketing communications to influence attitudes and behavior

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2
Q

Communication Model

A

Source to communications channel to receiver
Noise to source, communications channel, receiver, and feedback
Receiver to feedback
Feedback to Source

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3
Q

source

A

company or spokesperson

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4
Q

communications channel

A

magazine, newspaper, TV, radio, billboard, social media, email, etc.

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5
Q

receiver

A

consumer

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6
Q

noise

A

competing messages, lack of clarity, flow in the channels

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7
Q

feedback

A 
purchase data
product awareness (Tweets, likes)
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8
Q

Source to communications channel is encoding/decoding

A

encoding

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9
Q

Communications channel to receiver is encoding/decoding

A

decoding

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10
Q

Goals of Promotions

A 
AIDA
Awareness
Interest
Desire
Action

Think -> Feel -> Do

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11
Q

awareness

A 
aided recall-customers recognize a name that has been presented to them
unaided recall (top-of-mind awareness)
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12
Q

lagged effect

A

people don’t immediately respond and buy

they think, feel, and then do

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13
Q

Types of promotion

A 
Advertising
Sales Promotions
PR
Direct Marketing
Personal Selling
Online/Digital
Word of Mouth
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14
Q

Non-personal promotion

A

targeted to groups of people, mass media
marketers control message completely
can reinforce brand image, be persuasive, or provide factual info
contests, coupons, and other incentives designed to build interest or encourage action

Can be expensive

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15
Q

Public Relations

A

communication activities that create or maintain a positive image of a firm and its products

mostly press releases

relatively low cost
highly credible
poor message control: no guarantee that message will even reach the target
difficult to track the results

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16
Q

direct marketing

A

efforts to gain a direct response from individual customers

use database technology to target customers
track and measure results
can provide extensive information and multiple offers with a single appeal
higher cost per contact than mass appeals

postcards, catalogs, email, mobile

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17
Q

personal selling

A

direct interaction between company rep and a customer

flexible because salespeople can modify message to match customer needs
sales rep can get immediate feedback
high cost per contact
difficult to ensure message consistency between different sales representatives

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18
Q

online/digital

A

websites, blogs, social media

consumer-generated media which generates Word of Mouth or viral marketing

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19
Q

Integrated Marketing Communication

A

Process that manufacturers use to plan, develop, execute, and evaluate ads
Doing multiple things at once

20
Q

Passive vs. Interactive

A

Interactive and offline: personal selling, sales promotions, direct marketing

Passive and offline: advertising, sales promotions, PR, direct marketing

Interactive and online: direct marketing, online marketing

Passive and online: direct marketing

21
Q

IMC Plan

A

unifies all marketing communication tools to send a consistent, persuasive message in order to create and maintain long-term relationships with customers by satisfying their needs

  1. Who is the audience?
  2. Objectives
  3. Budget
  4. Design mix
  5. Evaluate-show a return on investments
22
Q
  1. Identifying Target Audience
A

Who is the primary target audience for these products?

23
Q
  1. Establish communication objectives
A

The Hierarchy of Effects

Communication awareness, awareness, knowledge, desire, purchase, loyalty

24
Q

awareness

A

repetitive advertising, slogans and jingles, publicity stunts

25
Q

knowledge

A

descriptive copy, brochures, infomercials, PR, personal selling, website

26
Q

desire

A

status or sex appeals, celebrity endorsements

27
Q

purchase

A

point-of-purchase displays, coupons, contests, samples

28
Q

loyalty

A

mailing to users, licensed merchandise, product placement

29
Q
  1. Determine and allocate Marketing Communications budget
A

Budget: objective and task method

Push or pull strategy

30
Q

push strategy

A

firm moves products through the channel by convincing channel members to offer them

push product to consumer and have it available for customers to buy

drugs, pharmaceutical sales

manufacturer -> wholesaler/retailer -> consumer

31
Q

pull strategy

A

firm mosts products through channel by building desire among consumers, convincing retailers to respond to demand

most commonly used
advertise to consumer so that the consumer wants product

cars

manufacturer-> consumer -> wholesaler/retailer -> manufacturer

32
Q
  1. Design Promotion Mix
A

appeals

type: rational and emotional

33
Q

Budgeting rules of thumb

A

% sales, competitive parity

34
Q
  1. Evaluate the Effectiveness
A

Return on Investments
Communication objectives
Other measures: reach, frequency, gross rating points, Google Analytics

time and external factors can affect accuracy

35
Q

Return on Investments

A

(Sales - promotional costs)/(Promotional costs)

36
Q

Communication objectives

A

awareness, knowledge, attitude

37
Q

Promotional objectives for each step of the product life cycle

A

Introduction: to inform
Growth: to persuade
Maturity: to remind
Decline: –

38
Q

encoding

A

converting the sender’s ideas into a message that can be verbal, visual, or both

39
Q

decoding

A

process by which receiver interprets the sender’s message

40
Q

advertising

A

non-personal communication from an unidentified sponsor using mass media

provides marketers with total control
rich and dynamic advertising images can help to build or reinforce brand image
lacks credibility with cynical consumers
extremely expensive
passive
41
Q

sales promotions

A

contests, coupons, and other incentives designed to build interest or encourage product purchase during a specified period

provides retailers with incentives to support a brand
builds retailer and consumer excitement 
encourages immediate purchase and trial
reaches price-sensitive consumers
does not focus on building brand loyalty
42
Q

Word of Mouth or viral marketing

A

activities that give people a reason to talk about the product

43
Q

The Hierarchy of Effects

A

Awareness, Knowledge, Desire, Purchase, Loyalty

44
Q

Alternative to ROI evaluation

A

look at how well communication objectives such as Awareness, knowledge, and attitude improved after the ad campaign

45
Q

percentage of sales budgeting

A

a way to determine how much to spend on ads. They say, if you think it will increase sales to 2 million, you can spend 200,000. or something.

46
Q

Competitive parity

A

promoting as much as your competitor

Marketing 2202 Final (7 decks)

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