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Mkt > Session 19 > Flashcards

Session 19 Flashcards

1
Q

What is promotion?

A

Communicating product and service information to
target customers and other stakeholders of the firm.

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2
Q

What is 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

What is advertising? (+ types)

A

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

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4
Q

What are advantages of advertising? (2)

A
  1. Reaches large audience
  2. Control over messaging
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5
Q

What are disadvantages of advertising? (3)

A
  1. costs can be high (e.g., production
    costs for TV commercial)
  2. small immediate effect on sales
  3. lack of direct feedback
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6
Q

What is 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

What are advantages of personal selling? (3)

A
  1. provide detailed and customized information
  2. get immediate feedback and can modify the message
  3. Build relationships with customers
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8
Q

What are disadvantages of personal selling? (3)

A
  1. not effective in reaching large numbers of people
  2. expensive on per contact basis
  3. potential inconsistency in message
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9
Q

What are public relations (+ 4 types)?

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

What are advantages of public relations? (2)

A
  1. seen as trustworthy
  2. reach mass audience
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11
Q

What are disadvantages of public relations? (1)

A
  1. limited control over the public messaging
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12
Q

What are sales promotions?

A

A short-term inducement of value offered to arouse interest in buying a good or service

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13
Q

What are advantages of sales promotion? (3)

A
  1. effective in short-term sales increase
  2. boost store or website traffic
  3. easier to track
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14
Q

What are disadvantages of sales promotion? (2)

A
  1. sales drop off when deals end
  2. can harm brand image
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15
Q

What are 7 types of sales promotion?

A
  1. Sample
  2. Coupons (provide immediate price reduction)
  3. Point-of-purchase displays (encourages to buy immediately)
  4. Premiums (something get after purchase for free or if cover handling)
  5. Contests (enter to win a prize)
  6. Loyalty programs (reward frequent purchase)
  7. Rebates (part of purchase price refunded after completes form and gives proof of purchase)
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16
Q

What is direct marketing? (+ give 4 examples)

A

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

17
Q

What are advantages of direct marketing (4)?

A
  1. Customization, quick modification (e.g., online, social media)
  2. Cheaper than personal selling and advertising
  3. Interpersonal communication
  4. Easier to track and measure
18
Q

What are disadvantages of direct marketing (2)?

A
  1. Declining consumer response
  2. Data management can be expensive
19
Q

Steps of promotional campaign with explanations (5)?
*** not sure steps of what

A
  1. Objective (What do we want to achieve)
  2. Target (who should we talk to)
  3. Message (what should we say) + Media (What channels do we use)—> closely related to STP
  4. Budget (How much should we spend)
  5. Evaluation (did our campaign work)
20
Q

According to what do objective and target market of promotional strategy differ? (3)

A
  1. Stage of the Product Life Cycle
  2. Stage of the Consumer Decision Process
  3. Are you using a “push” or a “pull” strategy?
21
Q

What are 4 promotional objectives and to what stages of product life cycle are they associated to? Give important promotional tools

A
  1. Inform (Introduction): PR, ads, free samples
  2. To persuade (Growth): ads, personal selling
  3. To remind (Maturity): Discounts, coupons, direct marketing
  4. To phase out (Decline)
22
Q

What are we trying to influence with promotions?(4)

A
  1. Attention
  2. Interest
  3. Desire
  4. Action
23
Q

Best promotional strategies to gain awareness? (2)

A

Mass media:
1. Advertising
2. Public relations

24
Q

Best promotional strategies to encourage action? (2)

A
  • Personnal selling
  • Sales Promotions
25
Q

What are 2 “promotional strategies” across channels?

A
  1. Push strategy (Promote to intermediaries and stimulate
  2. Pull strategy
26
Q

3 ways to set promotional 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
27
Q

How to evaluate if campaign worked (4 ways)?

A
  1. day-after recall (for TV ads)
  2. sales changes
  3. A/B testing
  4. physiological testing
28
Q

what is integrated marketing communications (IMC)

A

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

Mkt (14 decks)

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