Test 4 Flashcards
Comparative advertising
Comparing your brand to another and showing why yours is better
Institutional advertising
This is used to create and organizational image. For example, it can show employee friendliness. It is not used to target customers but instead create and image for the company
Reinforcement advertising
Targets customers who already have their product, but want to remind them that they have made the right decision. (Geico 15%)
Advertising platform
This consists of the basic issues or selling points that are to be used during the advertising
Advertising appropriation
This is the total amount of money that is used on advertising.
public relations
Communication efforts used to create and maintain favorable relations between and organization and its stakeholders
Continuous media schedule
Advertising runs at a constant level throughout the campaign
Flighting
Advertisements run in increments where for a while it runs a lot, followed by a break in the advertising for a while
Pulsing
combines fighting and continuous: during the entire campaign, just a portion of advertising runs continuously
Stage 1 of the ad campaign:
The target audience
The needs of a prospect
Without a prospect, you will not be able to sell what you want.
Sterotypes of sales people
x
Prospecting
This often involves engaging at trade shows, which allows the salepeople to find who they might want to target later on during the approach selling process
The approach
This part of the selling process involves gathering information about byers needs and objectives. In addition, building rapport and a favorable impression are important
Sales Presentation
During this step, the salesperson needs to attract and hold the prospects ttention. Some keys to the presenation is letting the customer hold and test the product
The close
the sales person can use several techniques, but an important one is to try to get to the problem and ask the question of why they wont
cost of attaining a new customer vs gaining a new one
x
Price
The value paid for a product in a marketing exchange
Price competition
a marketer emphasizes price as an issue and matches or beats competitors prices `
Price relative to the marketing mix
x
Price interpretation
refers to what the price means or is communicated to customers
Internal and external price reference
Internal: What the product is worth to a person who frequently buys the product
External: A price used to compare to customers
Price and quality
The higher the price, the higher the quality
Elastic demand
A measure of sensitivity to change in price
Integrated Marketing communications
The goal is to maximize informational and persuasive impact on customers
Communication
A sharing of meaning through the transmission of information
decoding process
Converting sign or symbols into concepts and ideas
Noise
Anything that reduces a communications clarity and accuracy
Communication Channel
The medium of transmission that carries the coded message from the source to the receiver
Channel Capacity
The limit on the volume of information a communication can handle effectively
Source
Where the information is coming from
The role of promotion
This is communication that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and accept its products
