question

marketing plan

answer

-document that serves as a guide for the present and future marketing activities of organization -includes mission

question

mission statement (part 1 of marketing plan)

answer

-most marketing plans generally being with this -short description of the organization's purpose and philosophy

question

situation analysis (part 2 of marketing plan)

answer

-detailed description of the brand's current marketing situation -includes brands history, market share, growth, profitability, etc.

question

SWOT analysis

answer

-situation analysis -this analysis uses facts contained in the situation analysis to point out strengths, weaknesses, opportunities and threats for the brand -strength and weaknesses represent comp capabilities and opportunities and threats rep environmental factors

question

marketing objectives (part 3 of marketing plan)

answer

-clear quantifiable realistic marketing goals that are to be accomplished within a defined time period -two categories (sales target obj and comm obj)

question

sales target objectives (marketing objectives)

answer

-include goals related to increasing or maintaining sales volume and market share

question

communication objectives (marketing objectives)

answer

-outcomes that can be reasonably be associated with promotional activities, such as increases in brand recognition or awareness, increased comprehension of brands attributes, etc. -place more emphasis on com obj to have as ucessful marketing plan

question

DAGMAR (setting objectives)

answer

-russel colley -system emphasizes communication objectives to properly evaluate a campaign by determining how well it communicates info within a given budget to the target audience -formulate objectives related to awareness, comprehension, conviction, action -objectives must be concrete and measurable

question

marketing strategy

answer

-describes how the company plans to meet its marketing objectives (intended route) -three steps: defining particular target markets, determining the strategic position, and developing an appropriate marketing mix for each target market

question

selecting target market (1st step in marketing strategy)

answer

-define and select target market using market segmentation and research

question

positioning the product (2nd step in marketing strategy)

answer

-ogilvy says its very important to position the product -placing the brand cooperatively in consumers minds

question

7 ways to develop a positioning strategy

answer

1. product attribute 2. price/quality 3.use/application 4. product class 5. product user 6.. product competitor 7. cultural symbol 8. by category

question

determining the marketing mix (3rd step of marketing strategy)

answer

-cost effective marketing mix for each target market -mix includes: product, price, distribution, communication -mt. dew

question

tactics

answer

-determine the specific short term actions to be taken internally, and externally by whom, and when -specific action for helping accomplish a strategy

question

bottom up marketing

answer

-starts with marketing tactics > marketing strategy > marketing results -focus marketing mix on the tactic

question

wang-schultz seven step IMC panning model

answer

1. segments consumers 2. analyze info to understand consumers 3. set marketing objectives 4. marketer identifies what supports consumers to repurchase 5. set communicate objectives 6. marketer then decides what elements of amercing mix will increase desire 7. communication tactics are set

question

IMC plan

answer

natural outgrowth of the marketing plan and is prepared in much the same way

question

setting objectives (IMC plan)

answer

-brand manager looks at marketing plan and looks at the role of IMC in the marketing mix -then the BM determines which tasks IMC must accomplish

question

IMC pyramid (guide to setting objectives)

answer

-awareness (acquaint people with he company, product, service, brand) -comprehension (communicate enough info about the product so that some % of the aware group recognizes the products position) -conviction (persuade certain number of people to see the products value) -desire (once convinced some will desire the product) -action (some % who desire will take action)

question

learn feel do model

answer

0represented by the imc pyramid -people rationally consider a prospective purchase and once they feel good about it they act

question

do feel learn model

answer

-impulse purchases -behavior leads to attitude -buying gum when you check out

question

IMC strategy

answer

-blends elements of the creative mix: target audience, product concept, combinations media, and advertising message

question

target audience (IMC strategy)

answer

-specific people the IMC will reach (typically larger than target market) -ex: mcdonald's and kids and adults

question

product concept (IMC strategy)

answer

-"bundle of values" the marketer presents tot he consumer -Brand manager must develop a simple statement to describe the product concept in an IMC plan

question

kim-lord grid

answer

-similar to FCB grid from Vaughn -they said people can be both cognitively an defectively involved at one time -depicts the degree and the kind of involvement a consumer brings to the purchase decision for different products -products location on the grid determine show it is purchase (learfeeldo or feellearndo) and how campaigns copy should be written

question

communication media (IMC strategy)

answer

all the vehicles that might transmit the marketer message

question

IMC message

answer

what the company plans to say and how it plans to say it, both verbally and non verbally

question

percentage of sales method (IMC budget)

answer

-most popular techniques -may be based on past or future sales or both -works best when applied to future sales -assumes that a certain number of dollars will be needed to sell a certain amount of units -also it forces planners to develop objectives that fit the budget

question

share of market/share of the voice method (IMC budget)

answer

-attempt to link promotional dollars with sales objectives -commonly used for new products -when a new brand is introduced the budget for the first two years should be about one and a half times the brand targeted share of the market in two years

question

objective/task method (IMC budget)

answer

-budget buildup method -used by national marketers in the US -treats IMC as a tool for generating sales -three steps: defines objectives, determine strategy, and estimate cost -forces comp to think in terms of accomplishing goals and is most effective when campaign results can be measured

question

empirical research approach (IMC budget)

answer

-compnay runs a series of test in different markets with different budgets to determine the best level of advertising expenditure

question

"the bottom line" of (IMC budget)

answer

-all the previous methods rely on two fallacies 1) IMC is result of sales 2) IMC creates sales -the principal job of IMC is to influence consumers by informing, persuading, and reminding while it affects sales

CH 8 ADV – Flashcard

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards