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Advertising and IMC > Test 1 > Flashcards

Test 1 Flashcards

1
Q

The four essential components of smart marketing planning. (4 Ps)

A

The marketing mix

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2
Q

What are the 4 Ps?

A

Product, Price, Placement, Promotion

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3
Q

Benefits or values offered, needs met, whether functional, social, or emotional.

A

Product

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4
Q

The means of exchange a consumer gives for a product or service

A

Price

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5
Q

Marketing channels; set of interdependent organizations used to make the product available to consumers; direct or indirect

A

Place

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6
Q

Strategies of push and pull

A

Promotion

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7
Q

The process of planning, executing, evaluating, and controlling the use of various promotional mix elements to effectively communicate with target audiences.

A

Integrated marketing communications management

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8
Q

What are the 5 Rs?

A

Receptivity, Recognition, Responsiveness, Relevancy, Relationship

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9
Q

An outside-in marketing concept, focused on customers, advocates a departure from the more internally-focused marketing mix (4 Ps).

A

The Marketing Concept

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10
Q

Any paid form of non-personal communication about an organization, product, service, or idea by an identified sponsor.

A

Advertising

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11
Q

Brands can directly reach target customers with this form of marketing communication, which is intended to generate a response and/or a transaction.

A

Direct marketing

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12
Q

allows for a back-and-forth flow of information which users contribute to, modify, and personalize in real time when it is convenient for them.

A

Interactive/Internet Marketing

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13
Q

What are the pros of interactive media

A

Used for advertising, direct sales, sales promo, public relations, and selling; minimizes wasted reach while providing opportunities for strong audience selectivity; allows message tailoring for the intended target; interactivity and enhanced consumer engagement; information resource; ability to update information in real time; creative flexibility enhances target-attention to brand and interest in parent company and partners or affiliates/dealers

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14
Q

What are the cons of interactive media?

A

still not completely penetrated in US or the world, as not all have internet access; active avoidance of mostly irrelevant online banner ads; and/or low click-through rate to brand messages; clutter has conditioned consumers to avoid things not directed at them personally; problems with measuring message effectiveness.

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15
Q

Anything that provides incentives which generate sales revenue. Categorized in either consumer or trade-oriented.

A

Sales Promotion

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16
Q

The management function that evaluates public attitudes and identifies the public policies and procedures of an individual or organization with the public interest in mind, and then executes a plan designed to earn public understanding and acceptance. Establishing and maintaining a corporate image.

A

Public Relations

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17
Q

Impersonal, unsponsored, and not directly purchased messages about a company, product, or service. Part of Public Relations.

A

Publicity

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18
Q

Direct one to one communication intended to persuade prospective buyers to purchase a company’s product or service or to take action.

A

Personal Selling

19
Q

a strategic business process designed to influence consumer perceptions to drive behavior and achievement of corp. strategy.

A

Integrated marketing communications

20
Q

The IMC must accomplish one of the four following things.

A

Generate cash flows ( both in the short term and long term) which are greater than the cost to generate them; Accelerate the cash flow from customers; stabilize the cash flow to the company from the marketplace; build the company’s value to its shareholders by increasing brand equity/

21
Q

What are the three main goals of IMC?

A
  1. Inform 2. Remind 3. Persuade
22
Q

What are the three main steps of marketing planning?

A
  1. value creation 2. Consumer Insights 3. Contact Innovation
23
Q

Includes a SWOT and Competitive Assessment; assessment of the marketplace conditions; searches for opportunities to pursue and segmentation

A

Situation analysis

24
Q

Strengths, Weaknesses, Opportunities, Threats; part of the situation analysis

A

SWOT

25
Q

the identification of key marketplace opponents that results in a short list of direct competitors, often pursuing the same targets as the brand.

A

Competitive assessment

26
Q

Something unique or special a firm does or possesses that gives it an edge over competitors

A

Competitive advantage

27
Q

The process of deciding which segments will be most influenced by a marketing campaign or brand in the market place

A

STP Process (Segmentation, Targeting, and Positioning)

28
Q

Two steps of segmentation

A
  1. identify market segments 2. describe market segments
29
Q

Two steps of targeting

A
  1. evaluate market segments 4. select market segments
30
Q

Two steps of positioning

A
  1. design a product to meet market segment’s needs 6. develop a marketing mix for each segment selected
31
Q

reorganizing masses of consumers into smaller, more manageable groups; segments will respond similarly to to IMC activities in the marketplace.

A

Marketing Segmentation

32
Q

Segment based on location in the marketplace, country, or world

A

geogrphic

33
Q

Using variables such as age, sex, family size, income, education, and social class.

A

Demographic

34
Q

Segment based on attitudes, interests, behaviors, personalities, and/or lifestyles (VALS and PRIZM)

A

Psychographic

35
Q

Segment based on usage, brand loyalty, or buying responses to a products promotional message. Often combined with geographic or demographic

A

Behavioral or Behavioristic

36
Q

Segment based on the specific expectations of a product or service by the consumer. Different for each niche market.

A

Benefits sought

37
Q

What are the four qualities of a viable segment?

A
  1. Substantial 2. Identifiable and measurable 3. Accessible 4. Responsive
38
Q

The promise of the product/service

A

The unique selling proposition

39
Q

attempting to capture a large share of a small segment

A

Niche marketing

40
Q

Ignoring segment differences and offering just one product or service to the entire market

A

Undifferentiated marketing

41
Q

marketing to multiple segments, using distinct strategies for each

A

Differentiated marketing

42
Q

What are the five steps in consumer decision-making?

A
  1. Problem recognition 2. Information search 3. Alternative evaluation 4. Motivation 5. Purchase Decision
43
Q

The brands consumers consider candidates for purchase.

A

evoked set

Advertising and IMC (1 decks)

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