Week 9 - Advertising (promotion)

Question 1

define the promotional mix (communications mix)

Answer 1

specific blend of advertising, public relations, personal selling, sales promotion and direct marketing tools that a company uses to persuasively communicate customer value and build customer relationships

Question 2

define integrates marketing communications

Answer 2

Careful integration of a company’s many communications channels to deliver a clear consistent and compelling message about the organisation

Question 3

advantages and disadvantages of advertising

Answer 3

can reach large scale
low cost per exposure
enables seller to repeat message many time
can trigger quick sales

hard to distinguish if effective
only 1 way communication (impersonal)
expensive

Question 4

advantages and disadvantages of personal selling

Answer 4

interpersonal communication
retains consumer interest

long term training
timely

Question 5

advantage and dis or public relations

Answer 5

highly credible
reach many prospects
effective when use with types of promotion

tends to be under utilised
can’t track effectiveness

Question 6

pros and cons of direct digital marketing

Answer 6

interactive
per person relatively cheap
personalised highly targeted
develop relationships

costly
need to find correct market

Question 7

pros and cons of sales promotion

Answer 7

wide assortment of tools (coupons, premiums..)
attract customer attention
quick response

does not build lasting relationships concerned with sales not people

Question 8

Define pull strategy

Answer 8

producer directs marketing activities (mainly advertising + consumer promote) towards final consumers to induce them to buy

Question 9

define push strategy

Answer 9

promotional strategy using salesforce and trade promotions to push the product through the marketing channels to final consumer

Question 10

define advertising budget

Answer 10

Dollars and other resources allocated to a product or company advertising program

Question 11

types of advertising budgets

Answer 11

affordable method - set a level company can afford

% of sales method - get at certain % of current or forecasted sales

Competitive -parity method = set to match competitors outlays

Objective + task method = set by defining specific objectives and determining the promotional tasks required to achieve these

Question 12

Define advertising strategy

Answer 12

consists of 2 main elements: creating advertising message and selecting advertising media

Question 13

define publicity

Answer 13

activities to promote a company, or its products by obtaining coverage in the media not paid for by the sponsor

press conference 
public affairs
lobbying
investor relations
development

Question 14

define personal selling

Answer 14

personal presentation by the businesses salesforce for the purpose of making sales and building customer relationships

Question 15

define sales person

Answer 15

individual representing a company to customers by performing actives such as prospecting, communicating, selling, servicing, info gathering and relationship building

Question 16

define sales management

Answer 16

the analysis, planning, implementation and control of salesforce actives
including designing the sales force strategy. recruiting , training and selecting ..

Question 17

explain the main steps in sales force management

Answer 17

designing sales force strategy and structure

recruiting and selecting sales people

training salespeople

compensating sales people (pay and benefits)

supervising sales people

evaluating salespeople

Question 18

explain the steps of the selling process (personal selling)

Answer 18

prospecting and qualifying - salesperson identifies qualified potential clients

pre approach - salesperson learns as much as possible about prospective customer before making sales call

approach - process in which salesperson meets clients for first time

presentation + demonstration - sales person tells ‘value story and how the company offer solves the customers problems

handling objections- salesperson seeks out clarifies and overcomes customer objectives to buying

Closing - salesperson ask customer for an offer

Follow up - salesperson follows up the sale to ensure the customer satisfaction and repeat business

PPAPHCF

Question 19

define sales promotion

Answer 19

short term incentive to encourage the purchase or sale of a product / service

consumer promotion - boost short term customer buying and involvement and enhance long term relationships e.g. coupons, samples, cash refunds, premiums
event marketing
trade promotion
business promotion

Question 20

define direct + digital marketing

Answer 20

Interacting with known customers and other in the marketing channel on a one-to-one based using electronic networks e.g. phones

Question 21

benefits of digital marketing for buyers

Answer 21

more info, product, companies
interactive + intermediate - therefore buyers can interact with sellers over phone
filters can add greater detail e,g, search for sales only
save travel time

Question 22

benefits of digital marketing for sellers

Answer 22

create customer relationships 
track movements of buyers to create more tailored service
low-cost -less overheads
efficient
speedy
flexibility 
target more places

Question 23

define data mining

Answer 23

checking databases for patterns, trends that might exist to to find new connections between data items