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Sales > Test 3 > Flashcards

Test 3 Flashcards

1
Q

Definition of IMC

A

The careful coordination of all promotional messages to assure the consistency of messages at every contact point where a company meets the consumer.
4 things: Marketing, Advertising, Public Relations, & Sales

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2
Q

The role of promotion in the marketing mix

A

The marketer communications the promotional mix (advertising, PR, sales promo, personal selling) to the consumer. This is the promotional strategy

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3
Q

4 Elements of the promotional mix

A

Advertising, PR, Sales Promotion, Personal Selling

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4
Q

Advertising

A

Mass communication sponsored by organizations to promote products and services

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5
Q

Public Relations

A

The management of communication to influence opinion and build relationships between an organization and its publics.

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6
Q

Sales Promotion

A

Short-term incentives that stimulate sales and consumer demand.

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7
Q

Personal Selling

A

Selling that involves direct communication and interaction between a salesperson and a customer

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8
Q

Traditional Advertising Media

A

Television, Radio, Newspapers, Magazines, Books, Direct mail, Billboards, Transit cards

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9
Q

New Advertising Media

A

Internet, Banner ads, Viral marketing, E- mail, Interactive video

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10
Q

5 Goals of PR

A
  • maintain a positive image
  • educate the public about the company’s objectives
  • introduce new products
  • support the sales effort
  • generate favorable publicity
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11
Q

Goals of Promotion

A

Informing, Reminding, and Persuading the Target Audience

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12
Q

AIDA Concept

A

Attention, Interest, Desire, Action

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13
Q

Attention

A

Gain attention of target market

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14
Q

Interest

A

Create interest in product

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15
Q

Desire

A

Consumer desires to purchase the product

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16
Q

Action

A

Consumer purchases the product

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17
Q

Advertising: AIDA

A

Attention: Very effective
Interest: Very effective
Desire: Somewhat effective
Action: Not effective

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18
Q

Public Relations: AIDA

A

Attention: Very effective
Interest: Very effective
Desire: Very effective
Action: Not effective

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19
Q

Sales Promotion: AIDA

A

Attention: Somewhat effective
Interest: Somewhat effective
Desire: Very effective
Action: Somewhat effective

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20
Q

Personal Selling: AIDA

A

Attention: Somewhat effective
Interest: Very effective
Desire: Very effective
Action: Very effective

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21
Q

6 Factors Affecting the Choice of Promotional Mix

A
  • Nature of the product
  • Stage in the product life cycle
  • Target market factors
  • Type of buying decision
  • Promotion funds
  • Push or pull strategy
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22
Q

Promo vs. Advertising

A

Advertising = reason to buy

Sales promotion = incentive to buy

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23
Q

Value Concept

A

-Ratio of benefits acquired vs. cost of acquisition

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24
Q

What Sales Promotion Can Do

A
  • Reinvigorate sales of a mature brand
  • Neutralize competitive promotions
  • Obtain a trial usage of a product
  • Encourage repeat purchases
  • Increase product usage
  • Cross-sell, bundle and up-sell
  • Reinforce advertising programs
25
Q

What Sales Promos Can’t Do

A
  • Give consumers a compelling long-term reason to buy
  • Stop declining sales of an unpopular product
  • Compensate for bad advertising
  • Compensate for an ineffective sales force
26
Q

Planning Promotions for a Loyal Customer

A
  • Loyalty marketing

- Bonus packs

27
Q

Planning Promotions for a Competitor’s Customers

A
  • Sampling

- Sweepstakes, contests, premiums

28
Q

Planning Promotions for Brand Switchers

A
  • Price-lowering promotion

- Trade deals

29
Q

Planning Promotions for Price Buyers

A
  • Coupons, price-off packages, refunds

- Trade deals

30
Q

Pull

A

Consumer promotion - pull the product sales through consumer demand

31
Q

Push

A

Trade promotion - push the product sales through the marketing channel

32
Q

Promo Risks

A
  • Undermines published prices
  • Conditions consumers to purchase only when incentives are offered
  • May not increase sales
  • Brand image lowered
  • Competitive response
  • Reduced profitability
33
Q

5 Key Questions of Consumer Promotions

A
  1. What’s the goal of your promotion?
  2. Who is your primary target audience?
  3. What is your promotion budget?
  4. What type of promotion will work best?
  5. How will you evaluate your promotion?
34
Q

6 types of Consumer Promotions

A
  • Coupons and Rebates
  • Premiums
  • Loyalty Marketing Programs
  • Contests and Sweepstakes
  • Sampling
  • Point-of-Purchase Promotion
35
Q

Coupon

A

A certificate that entitles consumers to an immediate price reduction

36
Q

Rebate

A

A cash refund given for the purchase of a product during a specific period

37
Q

Premium

A

An extra item offered to the consumer, usually in exchange for some proof of purchase

38
Q

Frequent Buyer Program

A

A loyalty program in which loyal consumers are rewarded for making multiple purchases

39
Q

Contest

A

Promotions that require skill or ability to compete for prizes

40
Q

Sweepstakes

A

Promotions that depend on chance or luck, with free participations

41
Q

Sampling

A

A promotional program that allows the consumer the opportunity to try a product or service for free

42
Q

Point of Purchase

A

Promotional display in retail location

43
Q

Trade Sales Promotions Definitions

A
  • Incentives offered to resellers to encourage them to buy more products and promote them more aggressively
  • Marketing strategies to build demand among resellers
44
Q

Trade Sales Promotions’ 7 Goals

A
  1. Gain new distributors
  2. Strengthen relationships with current distributors
  3. Influence resellers to promote products
  4. Influence reseller purchases and inventory
  5. Avoid permanent price reductions
  6. Coordinate efforts with consumer promotions
  7. Defend market share from competitors
45
Q

5 Reseller Considerations

A
  • Consumer demand
  • Inventory costs
  • Risk of failure
  • Competitive advantage
  • Margin improvement
46
Q

6 types of Trade Sales Promotions

A
  • Trade Allowances
  • Push Money
  • Training
  • Free Merchandise
  • Store Demonstration
  • Conventions & Trade Shows
47
Q
  1. Alternative marketing strategies
A
  • Buzz Marketing
  • Guerrilla Marketing
  • Lifestyle Marketing
  • Experiential Marketing
  • Product Placement
48
Q

Buzz Marketing

A
  • Word-of-mouth marketing

- More powerful than paid advertising

49
Q

Guerrilla Marketing

A
  • Unconventional and creative
  • Good for limited budget
  • Consumer interaction
50
Q

Lifestyle Marketing

A
  • Connects with consumers’ hobbies and entertainment choices

- Establishes common ground between brand and consumer

51
Q

Experiential Marketing

A
  • Combine direct marketing, field promotions, sales promotions
  • Create unique consumer experience with your brand
  • Engagement, sampling, special events, hands-on experience
52
Q

Product Placement

A

-Planned insertion of product into movie, television program, or other medium

53
Q

4 Types of Alternative Media Venues

A
  • Mobile phone advertising
  • Video game advertising
  • Cinema advertising
  • Others - parking lots, bus wraps, kiosks, bags, menus, etc
54
Q

What percentage of purchase decisions are made in retail stores?

A

60

55
Q

What percentage do each of these influence purchase decisions? In-store, Print, TV?

A

In-Store: 52
Print: 24
TV: 14

56
Q

5 Point of Purchase strategies

A
  • Integrate brand’s image into the display
  • Integrate display with other advertising and promotions
  • Make the display dramatic to get attention
  • Make it easy to assemble and stock
  • Track purchase results using bar codes
57
Q

4 Benefits of Brand Communities

A
  • Affirms buying decision
  • Social identity and bonding
  • Swap stories and advice
  • Feedback and new ideas
58
Q

Bonus (4)

A
  • Payment for achievement of specific sales objectives
  • Allows marketer to establish goals
  • Can be paid as bonus or commission
  • Pay for performance reduces risk
59
Q

Sales Meetings (5)

A
  • Reward performance
  • Launch new products
  • Provide training
  • Motivate sales force
  • Build culture of high-performance

Sales (3 decks)

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