Unit 8- Promotion Flashcards
what is the push strategy?
manufacturer convinces wholesalers, distributors, or retailers to sell its products
move products through the channel by convincing channel members to offer them
(use of company’s sales force & trade promotion activities to create consumer demand for a product)
what is the promotion mix?
the marketers “bag of tools” for communicating with customers/stakeholders
what is pull strategy?
creates demand for a product among consumers so that businesses agree to sell the product
move products through the channel by building desire among consumers, convincing retailers to respond to demand
(high spending on advertising & consumer promotion to build up consumer demand for a product)
what is the top down budget?
top management sets the overall amount the company will spend on promotional activities for the year
what is the bottom-up budget?
PLC: to allocate more money during the introduction stage of a new product than in later stages when the product is established
what are the types of advertising?
product advertising, institutional or corporate advertising, retail/local advertising, do-it-yourself advertising
what are the types of agencies?
limited service agency
full service agency
what are the main roles of the agencies?
account management
creative services
research/marketing services
media planning
what’s an advertising campaign
a coordinted, comprehensive plan that carries out promotion objectives & results in a serious of ads placed in media over a period of time
what is USP?
unique selling propostion- gives consumer a single reason why one product is better at solving the problem
advertising in traditional media?
television, radio, newspapers, magazines, ng, directories, out-of home media, place-based media
advertising with online ads?
text ad, banners, rich media, full page, interstitail/pop-up ads, map advertisement, social media
what are the 5m’s of advertising?
mission- goals money- budget message media- vehicles measure- metrics
what is personal selling?
company representative interacts directly with prospective customer to communicate about a good/service
what is personal selling important?
when firm uses push strategy
b2b contexts & services
with inexperienced consumers who need hands-on assistance & complicated products such as electronics
products bought infrequently/ high involvement
Cost per contact is very high
what is transactional selling?
high pressure process that focuses on making an immediate sale w/no concern for developing long term customer relationshp
what is relationship selling?
process of building long-term customers by developing mutually satisfying, win-win relationships with customers
what are sales promotion?
programs designed to build interest in or encourage purchase of a product during a specified period of time
-deliver short-term sales results
target end: consumers, channel partners, employees
sales promotion toward trade?
discounts & deals
increasing industry visibility
sales promotion towards consumers ?
price based
attention getting
what is public relations?
publicity: unpaid communication about an organization that gets media exposure
responsible for preparing a crisis management plan
what is direct marketing?
allows organizations to target specific individuals
direct communication to a consumer or business recipient designed to generate a response in the form of -an order, a request for further info, a visit to a store or other place of business for purchase of a product
what are the types of direct marketing?
mail order, telemarketing, direct-response tv, mobile phone
what is WOM?
word of mouth.. the act of consumers providing information to other consumers
