MKT 205 (Chapter 14) – Flashcards
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The Promotion Mix
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The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships.
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Advertising
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Any paid form of nonpersonal presentation and promotion of ideas,gods, or service by an identified sponsor (ex. Broadcast, Print, Online, Mobile, Outdoor)
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Sales Promotion
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A short-term incentive to encourage the purchase or sale of a product or service (ex. Discounts, Coupons, Displays, Demonstrations)
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Personal Selling
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The personal interaction by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships.
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Public Relations
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Involves building good relations with the company's various publics by: obtaining favorable publicity, building up a good corporate image, or heading off unfavorable rumors, stories, and events.
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Public Relations Rule #1
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PR should not create unfavorable publicity.
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Direct and Digital Marketing
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Involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.
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Integrated Marketing Communications (IMC)
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Involves carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.
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Emotional Appeal
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An attempt to stir up positive or negative emotions to motivate a purchase
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Moral Appeal
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Directed at the audience's sense of right and prosper.
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Personal Communication
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Involves two or more people communicating directly with each other (ex. Face to face, phone, mail or email, texting or internet chat)
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Opinion Leaders
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People whose opinions are sought by others.
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Buzz Marketing
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Involves cultivating opinion leaders and getting them to spread information about a product or service to others in their communities.
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Non personal Communication
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Media that carry messages without personal contact or feedback, including major media, atmospheres and events.
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Affordable Method
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Sets the promotion budget at the level management thinks the company can afford.
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Percentage-of-Sales Method
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Sets the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.
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Competitive-Parity Method
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Sets the promotion budget to match competitors' outlays.
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Objective-and-Task Method
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Develops the promotion budget by specific promotion objectives and the costs of tasks needed to achieve these objectives.
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Advertising
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Can reach messages of geographically dispersed buyers at a low cost per exposure, and it enables the seller to repeat a message many times.
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Personal Selling
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The most effective method at certain stages of the buying process, particularly in building buyers' preferences, convictions, actions, and developing customer relationships but at the highest cost.
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Sales Promotion
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Includes coupons, contests, cents-off deals, and premiums that attract consumer attention and offer strong incentives to purchase
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Public Relations
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A very believable form of promotion that includes news stories, features, sponsorships, and events
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Direct and Digital Marketing
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An immediate, customized, and interactive promotional tool that includes direct mail, catalogs, telephone marketing, online, mobile, and social media.
