Promotions

Question 1

6 M’s Model of Communication Planning

Answer 1

Market – To whom is the communication addressed?
Mission – What is the objective of the intervention?
Message – What are the specific points to be communicated?
Media – Which vehicles will be used to execute on the goals?
Money – How much will be spent in the effort?
Measurement – How will impact be assessed after the campaign?

Question 2

Buying Process- Cognitive Stage

Answer 2

Unaware of Product –> Awareness –> Knowledge

Question 3

Buying Process- Affective Stage

Answer 3

Liking –> Preference –> Conviction

Question 4

Buying Process- Behavioral Stage

Answer 4

Purchase –> Repeat Purchase

Question 5

Advertising Options- Media

Answer 5

($141 billion )(Mass to Customized) Television ($58 billion), Magazines ($29 billion), Newspaper ($28 billion), Radio - One way message

Question 6

Advertising Options- Direct (Lag Response)

Answer 6

(Mass to Customized) Infomercials, Catalog, Direct

Question 7

Advertising Options- Direct (Instant Response)

Answer 7

(Mass to Customized) Email, Telemarketing, Web

Question 8

Major Promotional Tools

Answer 8

Personal Selling, Sales Promotions, Indirect Forms

Question 9

Personal Selling

Answer 9

Highly flexible but most expensive

Instantaneous feedback, customization and creates an ability to account for complex decision-making units

Question 10

Sales Promotions

Answer 10

Most common objectives are to induce product trial, repeat usage, increased frequency or multiple unit purchase, awareness of new product, etc. among other objectives

Question 11

Consumer Sales Promotions

Answer 11

“pull strategies”

Question 12

Trade Promotions

Answer 12

“push strategies”

Question 13

Indirect Forms

Answer 13

Product Placement, Public Relations

Question 14

Integrated Marketing

Answer 14

Mapping of the buying and selling processes

Internal consistency across promotional vehicles employed

Question 15

Buying & Selling Processes

Answer 15

For ideal media selection

Question 16

Internal Consistency

Answer 16

Goes beyond marketing mix – totality of messages in promotional mix – pricing, product’s ability to deliver on promised benefits, and the customer experience at the point of sale – contribute to how existing and potential customers perceive product or service

Question 17

Budget Calculation Methods

Answer 17

Percentage of expected or previous year’s sales
Competitive-based benchmark
Objective and Task method

Question 18

Competitive-based benchmark

Answer 18

Share of voice equal to product share of market

Question 19

Measuring Effectiveness

Answer 19

Key requirement for successful measurement of promotion effectiveness is that the objectives are clearly laid out at the onset of a promotion

Question 20

Overriding Principles in Promotional Resource Allocation

Answer 20

The need to affect various stages of the decision-making process

Effectiveness of various promotional tools can vary, and the one that yields the highest impact per dollar spent should be chosen

Question 21

Marketing

Answer 21

process through which a firm creates value for its chosen customers by meeting those customers’ needs.

Question 22

Pricing

Answer 22

capture a portion of created value

Question 23

Promotions

Answer 23

aware of the product’s existence, sufficiently value the product to choose it over competitive products, or to choose it over not buying at all.

Question 24

hierarchy of effects model

Answer 24

A general model of the steps that a consumer

might go through before buying a product- decision making process

Question 25

advertising

Answer 25

the paid placement of announcements and persuasive
messages in time or space to inform and/or persuade members of a particular target market or audience about a product, service, organization, or idea.

Question 26

premium

Answer 26

an item of value, other than the product itself, given

as an additional incentive to influence the purchase of a product

Question 27

Example consumer promotions

Answer 27

coupons, free samples, rebates, or premiums.

Question 28

Example trade promotions

Answer 28

discounts, slotting allowance, cooperative advertising