mkt ch 14 – Flashcards
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promotional mix
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the comination of one or more communication tools used to: 1. inform prospective buyers of the product benefits 2. persuade them to try it 3. remind them of the benefits they enjoyed using the product
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IMC (integrated marketing communications)
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the concept of designing marketing communications programs that coordinate all promotoional activities--advertising, personal selling, sales promotion, public relations, and direct marketing--to provide a consistent message across all audiences
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communication
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the process of conveying a message to others & that requires six elements 1. source 2. message 3. channel of commmication 4. receiver 5. process of encoding 6. process of decoding
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advertising
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any paid form of nonperosnal communication about an organization, good, service, or idea by an identified sponsor
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personal selling
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consists of the two-way flow of communication between a buyer & seller, often in a face-to-face encounter designed to influence a persons or groups purchase decision
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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 of services
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publicity
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a nonpersonal, indirectly paid presentation of an organization, good, or service advantages: often most credible source disadvantages: cooperation from outlets
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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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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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push strategy
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involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking their product -to channel memberes
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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 -awareness -interest -evaluation -trial -adoption
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direct orders
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the result of direct marketing offers that contain all the info necessary for a prospective buyer to make a decision to purchase and compelte the transaction
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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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traffic generation
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the outcome of a direct marketing offer designed to motivate people to visit a business
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commumication process
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message --> decode --> receiver --> response --> feedback --> source --> encode --> message
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advertising, personal selling, public relations, sales promotion, direct marketing
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5 elements of the promotional mix
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target audience
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when identifiying the ______ ____you can use behavioral targeting and collect info about your web-browsing behavior to determine the banner & display ads that you wil see as you surf the web
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planning, implementation, evaluation
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the promotion decision process includes there 3 steps
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promotion budget
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when developing an IMC program, setting the ______ _____ includes: -percentage of sales budgeting -competitive parity budgeting -all you can afford budgeting -objective & task budgeting
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developing
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steps in ____ an IMC budget: -selecting the right promotional tools -designing the promotoion -scheduling the promotoion
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IMC
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-3 things in executing & assessing the ___ program: 1. pretesting 2. post-testing -imc audit
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direct marketing
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the value of _____ : -direct orders -lead generation -traffic generation
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source, message, channel of communication, receiver, process of encoding, process of decoding
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6 elements of communication
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pull strategy
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involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product -to consumer
