MKT Chp 14 PowerPoint

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Communication
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The process by which we exchange or share meanings though a common set of symbols
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Promotion
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Communications by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.
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Promotional Strategy
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A plan for the optimal use of elements of promotion: advertising, public relations, personal selling, and sales promotion.
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Competitive Advantage
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One or more unique aspects of an organization that cause consumers to patronize that firm rather than competitors.
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The main function of promotional strategy is
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to convince target customers that the goods and services offered provide a competitive advantage over the competition.
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Promotional Mix is made up of
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Advertising PR Sales Promotion Personal Selling
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The sender
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possesses message to be conveyed encodes message transmits message
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The Receiver
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Received message decodes message message that was understood
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______ has three basic tasks: it can inform the target audience, persuade the target audience, or remind the target audience. Often a marketer will try to accomplish two or more of these tasks at the same time.
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Promotion
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The _____phase of promotion seeks to convert an existing need into a want or to stimulate interest in a new product. It is more prevalent during the early stages of the product life cycle.
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Informing
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______promotion is designed to stimulate a purchase or an action. It becomes the main promotion goal when the product enters the growth stage of its life cycle.
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Persuasive
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Informing promotion
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It is more prevalent during the early stages of the product life cycle.
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Persuasive
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It becomes the main promotion goal when the product enters the growth stage of its life cycle.
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____promotion is used to keep the product/brand name in the public’s mind. It is effective during the maturity cycle.
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Reminder
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It is effective during the maturity cycle.
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Reminder
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Informative Promotion
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Increases awareness Explains how products work suggests new uses builds company image
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Persuasive Promotion
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Encourages brand switching Changes customers’ perceptions of product attributes Influences immediate buying decision Persuades customers to act in ways that benefit the brand
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Reminder Promotion
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Reminds Customers that product may be needed Reminds customers where to buy product maintains customer awareness Assumes the target has already been persuaded regarding the product/service’s merits
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The Promotional Mix
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Combination of promotional tools used to reach the target market and fulfill the organization’s overall goals (Advertising, PR, Sales Promotion, Personal Selling)
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Advertising
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Any form of impersonal (one-way) paid communication in which the sponsor or company is identified
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Public Relations
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The marketing function that evaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance. Generally considered unpaid.
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Function of Public Relations
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Maintain a positive image Educate the public about the company’s objectives Introduce new products Support the sales effort Generate favorable publicity
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Personal Selling
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A purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other
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personal selling.
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Traditional methods of____include a planned presentation to one or more prospective buyers for the purpose of making a sale.
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Sales Promotion
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Marketing activities–other than personal selling , advertising, and public relations-that stimulate consumer buying and dealer effectiveness
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is generally a short-run tool used to stimulate immediate increases in demand.
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Sales Promotion
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Types of Sales Promotion
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Free Samples and Contests and Sweepstakes (aimed at end customers) Premiums and Coupons (aimed at company employees) Trade Shows and Vacation Giveaways(aimed at trade customers)
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Advertising, PR, and Sales Promotion
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Impersonal, One way means of communication where there is little opportunity for direct feedback
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Personal Selling
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Personal, two way communication where direct feedback is commonplace; slow in dispersing message to a large audience
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The AIDA Concept
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Model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message
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The goal of any promotion is to get someone to buy a good or service, or take some action. A classic model for reaching promotional goals is called _____—attention, interest, desire, and action—the stages of consumer involvement.
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the AIDA concept
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This model proposes that consumers respond to marketing messages in a cognitive–thinking, affective–feeling, and conative–doing sequence.
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The AIDA Concept
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Setting Communication Goals
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Focus -Create/maintain awareness (i.e. attention) -Build/enhance preferences (i.e. interest, desire -Remind consumers of those preferences -Incite action Benchmarks -Quantitative -Temporal Examples -Create unaided awareness of the new Hunger Games movie among 60% of 12-18 year-olds before opening
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Integrated Marketing Communications
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The careful coordination of all promotional messages to assure the consistency of messages at every contact point where a company meets consumer
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IMC Popularity Growth
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Proliferation of thousands of media choices Fragmentation of traditional advertising media Slash of advertising spending in favor of promotional techniques that generate immediate response
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Factors Affecting the Promotional Mix: Nature of the product
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Business products -not well-suited to mass promotion -rely more on personal selling, ads in trade media, booths at trade shows, etc. Consumer products -promoted mainly through advertising and sales promotion -personal selling is more important at the retail level for shopping and specialty products
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Factors Affecting the Promotional Mix: Stage in Product Life Cycle
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Introduction: Inform Growth: Persuade Maturity: Persuade and Remind Decline: Particularly at retail
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The introduction stage
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In the_____, the basic goal of promotion is to inform the target audience of product availability. Advertising and public relations inform the target audience, while sales promotion encourages early trial. Personal selling gets retailers to carry the product.
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the growth stage
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During _______, advertising and public relations continue to be important, although sales promotion can be reduced because customers need fewer incentives to purchase. The promotional strategy is to emphasize the product’s differential competitive advantage. Persuasive promotion is used to build and maintain brand loyalty. Personal selling has succeeded in obtaining adequate distribution for the product.
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the maturity stage
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In_____, competition becomes fiercer, and persuasive and reminder advertising are more strongly emphasized. Sales promotion comes back into focus to try to increase market share. As the product enters the decline stage, all promotion, especially advertising, is reduced. Nevertheless, personal selling and sales promotion efforts may be maintained, particularly at the retail level.
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Factors Affecting the Promotional Mix: Target Market Factors
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Slide 30 ask Kaitlyn
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Factors Affecting the Promotional Mix: Type of buying decision
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Routine: Advertising and Sales Promotion Complex: Personal Selling and Print Advertising
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For a routine buying decision such as the purchase of toothpaste, the most effective promotional tools are what?
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advertising and especially sales promotion.
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For buying decisions that are not routine or complex,_______ help establish awareness.
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advertising and public relationships
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consumers making complex decisions need large amounts of information, and ______ is the most effective tool. Print ads are also effective for conveying large
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personal selling
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Factors Affecting the Promotional Mix: Available Funds
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Low Funds -PR (free publicity) -Online strategies -Manufacturer agents instead of own sales (push) More Funds -Consider cost per contact (CPC), or the cost or reaching one member of the target market
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CPC is ___ for personal selling
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high
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CPC is ____ for national advertising
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low
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Factors Affecting the Promotional Mix: Push or pull strategy
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Manufacturers may use aggressive personal selling and trade advertising to convince a wholesaler/retailer to carry and sell their merchandise. This is known as___.
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Push Strategy
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______stimulates consumer demand to obtain product distribution.
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pull strategy
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____ with a small market share must pend proportionally more for advertising and sales promotion than those with large market share
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New brands
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Beyond a certain level of spending, diminishing returns set in. This is referred to as_______.
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Advertising response function
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Advertising can___.
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Change negative attitude to positive Reinforce Positive attitude Affect how consumers rank brand attributes
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Major types of Advertising
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Institutional Advertising and Product Advertising
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Enhances a company’s image rather than promotes a particular product
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Institutional Advertising
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Touts the benefits of a specific good or services
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Product Advertising
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Sects of Product Advertising
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Pioneering, Competitive, and Comparative
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Pioneering Advertising
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-Stimulates primary demands of new product or category (awareness, interest) -Used in the introductory stage of PLC
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Competitive Advertising
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-Influences demand for brand in the growth phase of the PLC (desire) -Often uses emotional appeal
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Comparative Advertising
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-Compares two or more competing brands’ product attributes (desire) -Used if growth is sluggish, or if competition is strong.
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Care should be used with _________approach in global markets due to government regulations and cultural/social value sensitivity.
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comparative advertising
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A series of related advertisements focusing on a common theme, slogan, and set of advertising appeals. A specific advertising effort for a particular product that extends for a defined period of time.
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Advertising Campaign
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Creative Decision in Advertising
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First, determine the advertising objectives. Then make creative decisions and make media decisions. Last, Evaluate the campaign.
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Identify Product Benefits
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Sell product’s benefits, not its attribute
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Attribute
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Features of the product
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Benefits
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What consumers will receive/achieve as a result of those features.
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Market research often conducted to determine which _____are most important and distinguising
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benefits
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The ______must make a positive impression on the target market, while being unique, distinguishable from the competitors’ messages, and believable.
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appeal
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_______ evaluation can be the most demanding task facing advertisers.
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Post-campaign
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The ______ says that the execution should offer a balance or marketing and entertainment
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Marketing entertainment principle
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Evaluate the campaign’s effectiveness
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Awareness: -Exposure -Comprehension -Recall Preferences: -Persuasion -Attitudes -Preference -Stimulated behavior Action: -Behavior -Website visits -Inquiries -Sales
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____________ is a term used in advertising to measure the size of an audience reached by a specific media vehicle or schedule
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Gross rating point (GRP)
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Monitored Media
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TV Radio Newspapers Magazines Yellow Pages Internet Outdoor Media
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Monitored Media
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Direct Mail Trade Exhibits Cooperative Advertising Brochures Coupons Catalogs Special Events
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Unmonitored Media
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Direct Mail Trade Exhibits Cooperative Advertising Brochures Coupons Catalogs Special Events
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Newspaper
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Advantages: Geographic selectivity Short-term advertiser commitments News value and immediacy Year-round readership High individual market coverage Co-op and local tie-in availability Short lead time
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Newspaper
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Disadvantages: Limited demographic selectivity Limited color Low pass-along rate May be expensive
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Magazine
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Advantages: Good reproduction Demographic selectivity Regional/local selectivity Long advertising life High pass-along rate
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Magazine
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Disadvantage: Long-term advertiser commitments Slow audience build-up Limited demonstration capabilities Lack of urgency Long lead time
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Radio
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Advantages: Low cost Immediacy of message Short notice scheduling No seasonal audience change Highly portable Short-term advertiser commitments Entertainment carryover
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Radio
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Disadvantages: No visual treatment Short advertising life High frequency to generate comprehension and retention Background distractions Commercial clutter
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Television
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Advantages: Wide, diverse audience Low cost per thousand Creative opportunities for demonstration Immediacy of messages Entertainment carryover Demographic selectivity with cable
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Television
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Disadvantages Short life of messages Consumer skepticism High campaign cost Little demographic selectivity with stations Long-term advertiser commitment Long lead times for production Commercial clutter
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Outdoor Media
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Advantages: Repetition Moderate cost Flexibility Geographic selectivity
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Outdoor Media
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Disadvantages: Short message Lack of demographic selectivity High “noise” level
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Internet
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Advantages: Fast growing Ability to reach narrow target audience Short lead time Moderate cost
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Internet
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Disadvantages: Difficult to measure ad effectiveness and ROI Not all consumers have access to Internet
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Search engine ads
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paying for certain keywords
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Advergaming
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ads are inserted into the videogame environment
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Social media marketing
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social network sites, blogs, podcasts, etc.
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Advertainment
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mini movies that promote a product and are viewable via the internet Product placement
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Stealth marketing (buzz marketing)
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(buzz marketing)
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Corporate Blogs
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Sponsored by a company or one of its brands and maintained by one or more of the company’s employees
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Noncorporate Blogs
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Independent and not associated with the marketing efforts of any particular company or brand; perceived to be more authentic (although more than 1/3 of bloggers have been approached by corporations to be “brand advocates”)
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Media Mix
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Combination of media to be used for a promotional campaign
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Cost per contact
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The cost of reaching one member of the target market
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Reach
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Number of target consumers exposed to a commercial at least once during a specific period, usually four weeks
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Frequency
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Number of times an individual is exposed to a given message during a specific period
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Continuous Media Schedule
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Advertising is run steadily throughout the period Laundry detergent, toilet paper
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Flighted Media Schedule
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Advertising is run heavily every other month or every two weeks Media Studios
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Pulsing Media Schedule
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Advertising combines continuous scheduling with flighting Department stores
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Seasonal Media Schedule
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Advertising is run only when the product is likely to be used Sunscreen, health clubs

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