Marketing HW 8

Advertising- any paid for of non personal presentation and promotion of ideas, goods and services

Sales promotion- short term incentives to encourage the purchase of sale of a product of service

Personal selling- personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships

Public relations- building good relations with the company’s various publics by obtaining favorable publicity

Direct marketing- direct connections w carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

Pull strategy- a company spends a lot of money consumer advertising and promotions to induce final consumers to buy the product and create demand that pulls the product through the channel; advertising and consumer promotion

Push strategy- promotional strategy in which the sales force and trade promotion are used to push the product through the channels; trade promotion and personal selling

Affordable method- setting the promotion budget at the level management thinks the company can afford

Percentage-of-sales method- setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

Competitive-parity method- setting the budget to match competitors’ outlays

Objective-and-task method- defining the budget by specific objectives, determining the tasks that must be performed to achieve these objectives, and estimating the costs of performing these tasks

Reach- a measure of the percentage of people in the target market who are exposed to the ad campaign during a given period of time

Frequency- a measure of how many times the average person in the tarot market is exposed to the message

Impact- the qualitative value of message exposure through a given medium and must be determined by the advertiser