Market Promotion Exam 1 – Flashcards

Unlock all answers in this set

Unlock answers
question
promotion
answer
the communications process in marketing that is used to create a favorable predisposition toward a brand of product of service
question
Promotional mix
answer
a blend of communications told used by a firm to carry out the promotion process and communicate directly with audiences
question
advertising
answer
a paid mass mediated attempt to persuade
question
common promotional tools
answer
advertising is the most widely used promotional tool but it is still just one part of the promotional mix. it may be combined with contests and websites
question
integrated marketing communications
answer
the process of using a wide range of promotional tools working together to create widespread brand exposure
question
advertising campaign
answer
a series of coordinated promotional efforts that communicate a single theme or idea about the brand
question
mass-mediated communication
answer
communication delivered through a medium designed to reach more than one person, typically a large number- or mass- of people. advertising is mass mediated
question
production
answer
the creation of the message content: 1 the company's message 2 expectations and assumptions about the target audience 3 the rules and regulations of the medium used
question
accommodation
answer
audiences accomodate competing meanigns and agendas to negotiate a meaning
question
limitations
answer
any mass audience will have different contacts backgrounds, knowledge and goals. therefore, no ad contains a single meaning for all audience members; although they generally yield similar meanings
question
audience
answer
a group of individuals who may receive and interpret promotional messages
question
target audience
answer
a particular group of consumers singled out for an advertising or promotion campaign
question
household consumers
answer
the most conspicuous audience for advertising. under the very heading of consumer adverting, companies can make very fine audience distinctions
question
members of business organizations
answer
an advertising audience that buys business and industrial goods and services. while products and services targeted to this audience often require personal selling, advertising is used to create awarenedd and a favorable attitude among potential buyers
question
members of a trade channel
answer
an advertising audience that includes retailers, wholesalers, and distributers. the promotional tool used most often to communicate with this group is personal selling, because this target audience represents a relatively small easily identifiable group
question
professionals
answer
an advertising audience that includes workers with special training or certification. advertising to professionals is predominantly carried out through trade publications
question
trade journals
answer
magazines that publish technical articles for members of trade
question
government officials and employees
answer
advertising audience that includes employees of government organizations at the federal, state, and local levels. promotion to this target audience is dominated by direct mail, catalogs, and web advertising
question
global promotion
answer
this is typically used for brands that are considered citizens of the world and who's manner of use does not vary tremendously by culture
question
international promotion
answer
this occurs when firms prepare and place different messages in different national markets outside their home market. often each international market requires unique or original promotion due to product adaptations or message appeals tailored specifically for that market
question
national promotion
answer
this reaches all geographic areas of one nation. it is the kind of promotion we see most often in the mass media in the US market
question
regional promotion
answer
this is carried out by producers, wholesalers, distributers, and retailers that concentrate their efforts in a relatively large, but not national, geographical region
question
local promotion
answer
like regional, this is directed at an audience in a single trading area, wither a city or state
question
cooperative promotion
answer
this is a team approach to promotion in which national companies share promotion expenses in a market with local dealers to achieve specific objectives
question
marketing
answer
the business process of planning and executing the conception, pricing, promotion, and distribution of goods and serves to create an exchange that benefits the consumer and the company
question
marketing mix
answer
balancing the four areas of marketing responsibility and decision making (conception, pricing, promotion and distribution) to achieve the best possible balance
question
brand
answer
a name, term, sign, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers
question
brand management
answer
1 information and persuasion 2 brand extension 3 brand loyalty/equity 4 creating image/meaning 5 building and maintaining loyalty in trade channels
question
market segmentation
answer
the process of breaking down a large market into submarkets that are more similar
question
differentation
answer
the process of creating a perceived difference, in the mind of the consumer, between an organization's brand and the competitions. this definition emphasizes that brand differentiation is based on CONSUMER PERCEPTION
question
posititoning
answer
the process of designing a brand so it can occupy a distinct and valued place in the target consumer's mind relative to other brands and then communicating this distinctiveness through advertising. positioning depends on a perceived image of tangible or intangible features
question
external positioning
answer
the niche brand will pursue relative to all the competitive brands on the market
question
internal positioning
answer
the niche brand will occupy with regard to other similar brands within the firm
question
economies of scale
answer
this occurs when costs per unit become lower due to lower volumes of production
question
inelasticity of demand
answer
a situation in which consumers are relatively insensitive to price increases for the brand
question
primary demand stimulation
answer
promotion aimes at creating demand for an entire product category. challenging and costly and research evidence suggests that it is likely to have an impact only for products that are totally new not for brand extensions or mature product categories
question
selective demand stimulation
answer
promotion aimed at pointing out a specific brand's unique benefits compared with the competition
question
direct response promotion
answer
promotion that asks the receiver of the message to act immediately
question
delayed response promotion
answer
promotion that relies on imagery and message themes to emphasize a brand's benefits and positive qualities to encourage customers to purchase the product at a later date
question
brand advertising
answer
communicates the specific features, values, and benefits of a particular brand offered for sale by a particular organization
question
corporate advertising
answer
meant to create a favorable attitude toward a company as a whole
question
impact on gross domestic product
answer
as a part of the marketing mix, promotion increases GDP indirectly by working with product, pricing, and distribution decisions to stimulate sales
question
GDP
answer
the measure of the total value of goods and services produced within an economic system
question
impact on business cycles
answer
promotion can have a stabilizing effect on downturns in business activity. for this reason many companies choose to increase advertising during times of recession
question
impact on competition
answer
promotion can stimulate competition and therefore motivate firms to strive for better products, better production methods, and other competitive advantages that ultimately benefit the economy as a whole. promotion can also act as a barrier to competition because it can be cost-prohibitive
question
impact on pricing
answer
the cost of advertising is built into product costs, which are ultimately passed on to consumers. however, this should be considered with cost savings that lower the price- the reduced time and effort a consumer spends searching for a product or service and economies of scale
question
impact on value
answer
promotion helps create value in the minds of consumers so tha they will purchase the brand. value in turn helps determine what we invest in the economy
question
value
answer
refers to consumers perception that a brand provides satisfaction beyond the cost incurred to obtain that brand
question
symbolic value
answer
refers to what a product or service means to consumers in a nonliteral way. a brand can symbolize a person's idea about their personality
question
consolidation
answer
into giant full service advertising agencies to provice a large array of fully integrated services. limitations of these giant agencies include a possible lack of specialization and creativity of smaller shops, conflicts of interest with multiple businesses, unwieldy size and debt. the unconsolidation of some of these agencies seems inevitable
question
narrower media control
answer
due to relaxed FCC regulations and media consolidation
question
media clutter
answer
due to new and increased media potions and resulting in fewer focused media outlets to reach target audiences
question
consumer control
answer
has increased due to interactive media such as internet, social media, DVRs, etc
question
marketers
answer
are business, not-for-profit, and government organizations that use advertising and other promotional techniques to communicate with target markets and to stimulate awareness and demand for their brands
question
Marketers include
answer
manufactuerers and service firms; trade resellers; federal, state, and local governments, social and not for profit organizations
question
marketers are responsible for
answer
who hire advertising and promotional agencies are responsible for defining and managing the brand values and abjectives as well as the market position, target and supply/demand chains
question
advertising agency
answer
is an organization that provides creative and business services to clients in planning, preparing and placing advertisements
question
promotion agencies
answer
handles specific promotional efforts, including sampling event promotions or promotional tie ins
question
external facilitators
answer
organizations or individuals that provide specialized services to marketers and agencies that may beed more expertise in areas such as research, consulting, production and software
question
media organizations
answer
own and manage the media access to consumers
question
target audience
answer
are the consumers advertising and promotional efforts are directed towards, if there is no audience no communication can take place
question
full service agencies
answer
include an array of advertising professionals to meet all the advertising needs and even more promotional needs of their clients. these firms can be large medium or even mall in size
question
creative boutiques
answer
emphasize creative concept development, copywriting, and artistic services. a marketer can employ this alternative for the strict purpose of infusing greater creativity into the message theme or individual advertisement
question
interactive agencies
answer
help advertisers prepare communications for new media such as the internet, podcasting interactive kiosks css and interactive TV. they focus on ways to use web based solutions for direct marketing and target market communications
question
in house agencies
answer
advertising departments in a firm that take responsibility for the planning and preparation of advertising materials. this offers greater coordination and control of all phases of the IMC process, marketer's personnel have direct control over and knowledge of marketing activities and the ability to cut ours ode spening. initiations include a possible lack of objectivity, resources and specialized expertise
question
media specialists
answer
organizations that specialize in buying media time and space and that offer media strategy consulting to advertising agencies and advertisers. strategic coordination of media and promotional efforts has become more complex because of the proliferation of media options and extensive use of promotional tools beyond advertising
question
direct marking agencies and database agencies
answer
maintain and manage large databases of mailing lists to target customers. they also develop direct-marketing campaigns and promotional materials and execute campaigns
question
fulfillment centers
answer
ensure consumers receive products ordered in response to direct marketing efforts
question
E-commerce agencies
answer
handle a variety of planning and execution activities related to promotions using electronic commerce. they differ from intereative agencies. rather than creating websites or banner ads they help firms conduct all forms of promotion (sweepstakes, coupons etc) though electronic media particularly the internet
question
sale promotion agencies
answer
design and then operate contests, sweepstakes, special displays, or coupon campaigns for advertisers
question
consumer sales promotion
answer
focues on price-off deals, coupons, sampling, rebates and premiums
question
trade market sales promotions
answer
designed to help advertisers use promotions aimed at wholesalers, retailers, vendors, and trade resellers, such as incentive programs, trade shows, sales force contests, in store merchandising, and point of purchase materials
question
event planning agencies
answer
are experts in finding locations, securing dates, and putting together a team of people to pull of a promotional event
question
design firms
answer
provide experts such a designers and graphics specialists
question
designers
answer
specialize in the execution of creative ideas and efforts by designing logos and other visual promotional pieces
question
public relations firms
answer
manage an organization's relationships with the media, the local community, competitors, industry association and government organizations. their tools include press releases, feature stories, lobbying, spokespersons, and company newsletters
question
account services
answer
workt with clients to determine how the brand can benefit most from promotion and then to develop a complete promotion plan. account service managers work with the creative and media services to ensure the best promotional message is delivered via most effective media strategy. account services also woks to keep various agency teams on budget and schedule
question
marketing research serves
answer
locate studies (conducted by research agencies and organizations) that relate to the clients market or promotional objectives. this department also helps translate research data for the client or other departments and may engage in some consumer testing to check the efficacy of the promotional message
question
account planners
answer
coordinate research efforts to ensure that the input is included at each stage of the campaign development
question
creative services
answer
come up with the concepts that express the value of a company's brand in interesting and memorable ways. clients will push their agencies hard to come up with interesting and expressive ways to represent the brand
question
production servies
answer
include producers (and sometimes directors) who take creative ideas and turn them into advertisements, direct mail pieces or events materials
question
media planning and buying serves
answer
full service advertising agencies also provide media planning and buying serves similar to those of the specialized agencies to determine how a clients message can most effectively and efficiently reach the target audience
question
administrative services
answer
manage the agency's business affairs. agencies have personnel departments, accounting, and billing departments and sales staffs that go out and sell the agency to clients. the traffic department is responsible for monitoring projects to be sure that deadlines are met
question
commission system
answer
based on agreed upon percent (traditionally 15%) some agencies and clients wonder if this system encourages agencies to choose the most expensive method rather than the most effective
question
markup charges
answer
based on adding percentage change to a variety of services the agency purchases from outside suppliers. typical markup is 17.65 to 20 percent
question
fee systems
answer
an agreed upon hourly rate across all services. fixed fee or contract set between client and agency. advertising agencies are often opposed to this system arguing that creativity cannot be measured in work hours
question
pay for results
answer
programs use results criteria of communications objectives such as the target audiences brand aware sales volumes are not used as result criteria because they are also related to factors ouside the agency's control
question
marketing and advertising research firms
answer
marketing research firms perform original research for marketers have data available for a fee
question
consultants
answer
specialize in areas related to the promotional process. can provide expert advice on marketing planning etc
question
production facilitators
answer
provide the elements to produce a broadcast production or print advertising . this is the area where advertisers rely most heavily on external facilitators
question
software firms
answer
provide software that gathers and analyzes data on the behavior of web surfers, streams audio and video files and manages relationships with trade partners
question
broadcast media
answer
include television and radio
question
support media
answer
include outdoor ads, directories, premiums, point of purchase displays, event sponsorships and brand placements in entertainment
question
media conglomerates
answer
own multiple media outlets usually including broadcast cable, film, print, and internet organizations
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New