question

Promotional Mix

answer

-Advertising -Personal Selling -Sales Promotion -Public Relations -Direct Marketing

question

Customized (promotional mix)

answer

-Personal Selling -Direct marketing

question

Personal Selling

answer

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. uses custimized interaction beteen seller and buyer. Most expensive.

question

Direct Marketing

answer

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 website or a retail outlet.

question

Mass selling

answer

-Advertising -Public Relations -Sales Promotion

question

Advertising

answer

Any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor. The paid aspect of the definition is important the space must be bought

question

Public Relations

answer

A form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other stakeholders about a company and its products or services. Any paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor.

question

Sales Promotion

answer

A short-term inducement of value offered to arouse interest in buying a good or service. Advetising support turns tryers into long term buyes after.

question

3 tasks of the promotional mix

answer

-Inform Prospective Buyers -Persuade them to Try your Product/Brand -Remind them of the Benefits of your Product/Brand

question

Integrated Marketing Communications (IMC)

answer

the concept of designing marketing communications programsthat coordinate all promotional activities—advertising, personal selling, sales promotion, public relations, and direct marketing—to provide a consistent message across all audiences.

question

Source

answer

A company or person who has information to convey during the communication process.

question

Encoding

answer

The process of having the sender transform an idea into a set of symbols during the communication process

question

Message

answer

The information sent by a sourceto a receiver during the communication process.

question

Channel of communiction

answer

The means (e.g., a salesperson, advertising media, or public relations tools) of conveying a message to a receiver during the communication process

question

Decoding

answer

The process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process

question

Receiver

answer

Consumers who read, hear, or see the message sent by a source during the communication process

question

Noise

answer

Extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process.

question

Factors that Develop the Promotional Mix (5)

answer

1) Identifying the Target Audience 2) Determining the Product Life Cycle Position 3) Considering the Product Characteristics Complexity...

question

3 elements of product characteristics

answer

Complexity-Technical Skills/Knowledge Needed Risk-Financial, Social and/or Physical Risk Ancillary Services-Degree of support needed after the sale.

question

2 channel strategies

answer

pull and push strategy

question

Pull Strategy

answer

Directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product. - Discount Coupons -Contests & Sweepstakes - Product Samples

question

Push strategy

answer

Directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product. -Point of Purchase Displays -Trade Discounts

question

Promotional Decision Process

answer

Planning, Implementation and Evaluation

question

Planning

answer

Developing the promotional program

question

implementation

answer

executing the promotional program

question

Evaluation

answer

assessing the promotional program

question

4 types of promotional budgeting

answer

-Percentage of Sales Budgeting -Competitive Parity Budgeting -All-you-can-afford Budgeting -Objective and Task Budgeting

question

Percentage of Sales Budgeting

answer

Allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold.

question

Competitive Parity Budgeting

answer

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.

question

All-you-can afford Budgeting

answer

Allocating funds to promotion only after all other budget items are covered.

question

Objective and task budgeting

answer

The best approach Allocating funds to promotion whereby the firm: (1) determines its promotion objectives; (2) outlines the tasks to accomplish these objectives; (3) determines the promotion cost of performing these tasks.

question

Top 5 Marketers in 06 (spending money on promotional expenses)

answer

More then 3 billion annually 1) Proctor and Gamble 2) AT&T 3) General Motors 4) Time Warner 5) Verizon

question

Direct Marketing Methods

answer

Internet sales, shopping channels, catalogs, telemarketing, direct response advertising, and direct mail

question

The promotional mix can

answer

-Inform prospective buyer about the benifits of the product -persude them to try it -remind them later about the benifis they enjoyed by useing the product

question

Communication

answer

is the proccess of of conveying a message to others and it requires six elements -source -message -channel of communication -reciever proccess of encoding and decoding

question

Errors in communication

answer

- the source does not adequatly transform the abstract idea into an effective set of symbols. -a properly encoded message can be sent through the wrong channel and never amke it to the reciver. -the reciever may not properly transform the set of symbols into the correct abstract idea -feed back may be so delyed or distorted that it is of no use to the sender

question

Field of experience

answer

A similar understanding and knowledge they apply to the message.

question

Response

answer

Is the impact the message had on the recievers knowlage, attitudes, or behaviors

question

Feedback

answer

The senders interpretation of the response and indicates whether the massege was decoded and understood as intended.

question

Noise

answer

extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process

question

Examples of niose

answer

A printing mistake that effects the meaning of a news paper advertisment or using words or pictures that fail to communicate the message clearly. sales persons message is misunderstood.

question

Wasted coverage

answer

communication with consumers who are not the target audience.

question

Publicity

answer

a nonpersonal, indirectly paid presentation of an organization, good, or service news story editorial product announcement inderectly paid because the company must support a public relations staff. Publicity following a purschase incrreases positive response to the message.

question

Direct marketing

answer

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 -face to face -direct mail -catalogs -telephone solicitations

question

advertising during the Growth stage

answer

The primary goal is to persuade the cosumer to buy the product.sales promotion assumes less important in the stage and publicity is not a factor. the primary element is advertising, which stresses brand difference

question

Advertising at the Introduction Stage

answer

primary gaol is informing consumers in an effort to increase their level of awareness. All promoional mix elements are used at this time. Advetising is is particularly important as a means of reaching as amny people as posible to build awareness. publicity may even begin slightly before the productis commercailly availble.

question

Advertising in the maturity stage

answer

Is needed to maintain existing buyers, and advertising's role is to remind buyer of the products existance.Sales promotion, in the from of discounts and coupons offered by both ultimate cnumers and intermediaries, is important in maintaining loyal buyers.

question

Advertising in the decline stage

answer

Little money is spent.

question

How to use the elements in the protional mix

answer

Complexity-Technical sophisication of the product. the more complex the more personal selling Degree of risk- Social, physical. more risk more personal selling. Ancillary- Degree of support reqiured after the sale. personal selling is key.

question

Stages of the buying decision

answer

Prepurchase stage Purchase stage Postpurchase stage

question

Prepurchase stage

answer

advertising is more helpful than personal selling because advertising informs the potential customer of the existence of the product and the seller. sales promotion plays an important role

question

Purchase stage

answer

importance of personal selling is highest, whereas the impact of advertising is lowest. sales promotions such as coupons can be very helpful in encouraging demand

question

Postpurchase stage

answer

the salesperson is still important. more personal contact after the sale, the more the buyer is satisfied. advertisement is important again to reassure customers purchase

question

Push Strategy

answer

directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product, pesonal selling and and sales promotion play major roles. suppliers push products to cunsumers

question

Pull strategy

answer

directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product. Customers pull products from consumers. Advertising is key

question

developing the promotion program (planning)

answer

Identify the target audience specify the objectives set the budget selest the right promotional tools design the promotion schedual promotion

question

executing the promotion program (implementation)

answer

pretest the promotion carry out the promotion

question

Assesing the promotion program (Evaluation)

answer

Posttest the promotion make needed changes

question

Target Audience

answer

The group of prospective buyers toward which a promotion program is directed.

question

Hierarchy of effects

answer

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

question

Awareness

answer

The consumer's ability to recognize and remember the product or brand name

question

Intrerest

answer

An increase in the consumers desire to learn about some of the features of the product or brand

question

Evaluation

answer

The consumers appriassal of the product or brand on important attributes

question

Adoption

answer

Through the favorable experience on the first trail, the consumers repeated purchases and use of the products brand

question

Trail

answer

the consumers actual first purchase and use of the product or brand.

question

Scheduling the promotion

answer

detirmine timing of protional program elements, ussually discribes the order in which each promotional tool is intoduced and the frequency of its use during the campain.

question

To insure an effective IMC program

answer

develope a proccess that facilitates their design and use An IMC audit

question

Importance of Direct Marketing

answer

Increase in customer relationship management 10 percent of gdp Values is the responses generated direct orders lead gereration traffic generation

question

Direct orders

answer

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

question

Lead generation

answer

result of direct marketing offer designed to generate interest in a product or a service and request for additional information

question

Traffic generation

answer

the outcome of an offer designed to motivate people to visit a business

question

Database

answer

the result of organizations efforts to create profiles of customers so that direct marketing tools, such as e-mails and cataogs, can be directed at specific customers.

intergrated marketing communications and direct marketing – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards