marketing ch. 15- 18 – Flashcards
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Advertising
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Any paid form ofnonpersonal communication about an organization, product, service, or idea by an identified sponsor
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Types of advertising
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Product and institutional
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product advertising
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focuses on selling product or service
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3 types of PRODUCT advertising
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1. pioneering 2. competitive 3. reminder
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Pioneering product advertising
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aka informational, inform people what the product is, what it does, and where it can be found. (used during the introductory stage of the product life cycle)
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competitive advertising
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promote a specific brand's features and benefits, especially the strengths of one brand against another
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reminder advertisement
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ads that reinforce and reiterate previous knowledge about a product
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Institutional advertising
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advertising that promotes a specific brand's benefits &features
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types of institutional advertising
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1. advocacy 2. pioneering 3. competitive 4. reminder
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goals of advertising
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maximize frequency and minimize cost
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humorous appeal
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type of appeal used to imply (subtly, or directly) that the product is more fun or exciting than competitor's offerings ex. geico
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advantages of online ads
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1. they can be in audio or video 2. animation captures ppls attention 3. it can be interactive through rich media 4. the ads can link directly to the advertiser 5. online ads offers an opportunity to reach younger consumers who have developed a preference for online communication
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transit advertising
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messages on the inside or outside of buses, subways cars, and taxis
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Out-of-home (OOH) Advertising / place-based media
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nontraditional ad options found in airports, health clubs, and theaters
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full-service agency
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advertising agency that provides the most complete range of services including market research, media selection, copy development, artwork and production
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coupons vs. deals
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coupons are sales promotions (discounted price) usually used to encourage trying a certain product deals are short term price reductions to increase trial among customers or to retaliate against competitors actions.
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advertising media
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the means of which an advertising message is communicated to the target audience
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Frequency
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the average number of times a person in the target audience is exposed to the advertisement
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Social media
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online media where users submit news, photos and videos often accompanied by a feedback process to identify popular topics
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social network
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single social media site with millions of users interacting with each other like fb, insta, and twitter
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blog
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a web page that serves as a publicly accessible personal journal/ or forum fro the individual or for an aorganization
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wiki
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website whose content is created and edited by its users
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user generated content
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social media
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classifiers for social media
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1. media richness 2. self disclosure
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Marketplace
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where buyers and sellers engage in face-to-face exchange relationship in a material environment characterized by physical facilities and mostly tangible objects.
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Marketspace
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a internet-enabled digital environment (face-to-screen) exchange relationships and electronic images and offerings
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collaborative filtering
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a process that automatically groups people with similar buying intentions , preferances and behaviors and then predicts future purchases
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personalization
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customer initiated practice of generating content on a marketers website that is custom tailored to an individuals likes and needs
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Interactive marketing
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2 way buyer-seller electronic communication in a computer mediated environment in which the buyer controls the kind and amount of info received from the seller
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permission marketing
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soliciting a customers consent (opting) to receive emails and advertising based on personal data supplied by the consumer
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7 website design elements
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1. context 2. content 3. community 4. customization 5. communication 6. connection 7. commerce
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Context (7c's)
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website aesthetic appeal and functional look and feel reflected in site layout and visual design
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Content
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is the text, video, pictures, and audio that are found on the website
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Customization (7c's)
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the ability of a website to modify itself, or to be modified by a each user
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Communication (7c's)
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the dialog that unfolds between the website and the users
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community ( 7c's)
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social network of individuals who interact through user-to-user communication hosted by a company to enhance customer experience and build a favorable buyer-seller relationship
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Stickiness
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the amount of time per month visitors spend on a company's website
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Eight-Second rule
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when customers abandon their efforts to enter and navigate a website if download time exceeds 8 seconds
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Spam
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communication that end up being junk mail or unsolicited e-mails
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Buzz
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in the marketspace, "word-of-mouth behavior"
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media richness
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when the content in a site is more of images, videos, graphics, animations than words
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self-disclosure
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when the content in a site is highly personal rather than impersonal
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"evangelist"
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online user who is 'delighted' about the brand advertised and sends messages to his/her friends and then back to the advertiser about the joys of using the product
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Personal selling
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2 way flow of communication between buyer and seller, face-to-face, designed to influence a person's purchase decision
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Relationship selling
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practice of building ties to consumers based on a salesperson's attention and commitment to costumer needs over time
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types of personal selling
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1. order taking 2. order getting 3. customer sales support
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Order Taker
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salesperson who processes routine orders or reorder products that were already sold by the company
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Order Getter
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salesperson who identifies prospective customers, provides them with info., persuades them to buy, closes sales and follows up on them and their satisfaction with the product
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Prospect
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an individual who wants or needs the product
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qualified prospect
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an individual who wants the product, can afford them, and is the decision maker
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lead
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person who might be a possible customer
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outbound telemarketing
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practice of using the telephone rather than personal visits to contact customers
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3 roles of personal selling
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salespeople: 1. are the critical link between a firm and its customers 2. are the company in the consumers eyes 3. play a dominant role in a firms marketing program
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Personal selling stages
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1. prospecting 2. pre-approaching* 3. approaching* 4. presenting 5. closing 6. follow up
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prospecting stage
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first stage in personal selling ; advertising with coupons, doing trade shows, making cold calls all take place during this stage
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presentation stage
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when a salesperson starts converting a prospect into a customer by creating a desire for the product
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Close stage
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when a salesperson tries to obtain a purchase from the prospect to create a customer
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follow-up stage
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when a salesperson ensures that the customer is satisfied with the product or service
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Objections
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excuses for not making a purchase decision
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6 techniques for objections
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1. acknowledge and convert the objection 2. postpone 3. agree and neutralize 4. accept the objection 5. denial 6. ignore the objection
