Marketing Exam 2 Chapter 17 – Flashcards
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Advertising
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Any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor
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All You Can Afford Budgeting
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Allocating funds to promotion only after all other budget items are covered
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Channel of Communication
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The means (ex. a salesperson, advertising media, or public relations tools) of conveying a message to a receiver during the communication process
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Communication
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The process of conveying a message to others that requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding
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Competitive Parity Budgeting
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Allocating funds to promotion by matching the competitor's absolute level of spending or the proportion per point of market share - also called matching competitors or share of market
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Decoding
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The process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process
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Direct Marketing
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A promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet
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Direct Orders
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The result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction
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Encoding
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The process of having the sender transform an idea into a set of symbols during the communication process
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Feedback
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In the feedback loop, the sender's interpretation of the response, which indicates whether a message was decoded and understood as intended during the communication process
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Field of Experience
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A mutually shared understanding and knowledge that the sender and receiver apply to the message so that it can be communicated effectively during the communication process
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Hierarchy of Effects
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The sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product) - the stages include awareness, interest, evaluation, trial, and adoption
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Integrated Marketing Communications
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The concept of designing marketing communications programs that coordinate all promotional activities - advertising, personal selling, sales promotion, public relations, and direct marketing - to provide a consistent message across all audiences
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Lead Generation
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The result of a direct marketing offer designed to generate interest in a product or service and a request for additional information
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Message
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The information sent by a source to a receiver during the communication process
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Noise
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Extraneous factors than can work against effective communication by distorting a message or the feedback received during the communication process
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Objective and Task Budgeting
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Allocating funds to promotion whereby the company (1) determines its promotion objective; (2) outlines the tasks to accomplish those objectives; and (3) determines the promotion cost of performing those tasks
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Percentage of Sales Budgeting
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Allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold
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Personal Selling
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The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
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Promotional Mix
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The combination of one or more communication tools used to (1) inform prospective buyers about the benefits of the product, (2) persuade them to try it, and (3) remind them later about the benefits they enjoyed by using the product
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Public Relations
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A form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services
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Publicity
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A non-personal, indirectly paid presentation of an organization, good, or service
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Pull Strategy
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Directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product
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Push Strategy
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Directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product
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Receivers
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Consumers who read, hear, or see the message sent by a source during the communication process
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Response
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In the feedback loop, the impact the message had on the receiver's knowledge, attitudes, or behaviours during the communication process
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Sales Promotion
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A short-term inducement of value offered to arouse interest in buying a good or service
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Source
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A company or person who has information to convey during the communication process
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Traffic Generation
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The outcome of a direct marketing offer designed to motivate people to visit a business
