Promotion Management Exam 1 – Flashcards
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Brand Identity
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a combination of factors: Name, logo, symbols, design, packaging, product or service performance, and image or associations in the consumer's mind.
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Integrated Marketing Mix
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an approach to achieving the objectives of a marketing campaign, through a well- coordinated use of different promotional methods that are intended to reinforce each other.
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Marketing Mix
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The blending of four marketing elements-product, distribution, price, and promotion
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Promotional Mix
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any combination of advertising, sales promotion, publicity, direct marketing, and personal selling
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Direct response Advertising
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Direct marketing that includes an offer and a call to action.
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Public Relations tools
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news, speeches, special events, written materials, audiovisual materials, public service, buzz marketing, corporate websites
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SWOT
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A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
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Opportunity analysis
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identifies company strengths and weaknesses and identifies opportunities present in the marketplace
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Target Marketing Process
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Identify markets with unfulfilled needs, Determining market segmentation, Selecting market to target, Positioning through marketing strategies
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Bases for Segmentation
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Geographic, Demographic, Psychographics, Behavioral
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Market Segmentation
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Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs.
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Positioning Strategies
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positioning by product differences, positioning by features/benefits, positioning by product user, positioning by competitors
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Product Decisions
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- Product attributes, branding, packaging, labeling, product support services
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Independent Channel Intermediaries
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brokers, distributors, wholesalers, retailers
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Push Policy
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A type of promotion in which manufacturers use a mix of advertising, personal selling, and trade discounts with partners in the distribution channel to "push" the product through to the retailer.
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Pull Policy
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Promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel
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Centralized System
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an organizational system whereby advertising along with other marketing activities such as sales, marketing, research, and planning are divided along functional lines and are run from one central marketing department PRO: Better Communications, Fewer Personnel, Continuity of staff CON: LEss goal involvement, Longer response time, Single product
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Decentralized System
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The establishment of advertising departments by products or brands or in various divisions, subsidiaries, countries, regions, or other categories that suit the firm's needs, which operate with a major degree of independence. PRO: Concentrated Attention, Rapid response, flexibility CON: Lack of experience, competition for dept. resources, lack of authority
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In-House Agency
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Refereed to as the ad department in a firm and takes responsibility for the planning and preparing of ad materials PRO: Cost savings, More Control, Better coordination CON: Less experience, Less objective, Less flexible
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Full-service agency
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Does research, selects media, develops copy, and produces artwork; also coordinates integrated campaigns with all marketing efforts Takes care of the Account Services, Marketing Services, and Creative services for their client.
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Direct response agency
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Agency that maintains large databases of mailing lists; some of these firms can also design direct-marketing campaigns either through the mail or by telemarketing.
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Sales Promotion Agencies
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organization that specializes in the planning and implementation of promotional programs such as contests, sweepstakes, sampling, premiums, and incentive offers for its clients
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Public Relations
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Broad set of communication efforts used to create/maintain favorable relationships between organization and stakeholders where the goal is to create and enhance a position image of the organization.
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Interactive agencies
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specialize in the development and strategic use of various interactive marketing tools such as websites, banner ads, search engine optimization, mobile marketing, and social media campaigns.
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Marketing Research companies
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Online marketing research, internet surveys, online panels, online experiments, click-stream data, and online focus groups
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Proponents of advertising
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point out that money spent on ads changes consumer tastes, creating greater demand & lowering costs
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Critics of Advertising
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creates needs and wants among consumers, more propaganda than television, promotes materialism
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Voluntary Simplifiers
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believe that once we satisfy our basic material needs, additional income does not add to happiness. Choose a frugal, anti consumption lifestyle
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Ethics
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A set of moral principles or values that govern behavior
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Role of Advertising in the Economy
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Making products aware to customers, providing consumers with information to make purchase decisions, encourage consumption and economic growth
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Hierarchy of Needs
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Abraham Maslow's systematic arrangement of needs according to priority, which assumes the basic needs must be met before less basic needs are aroused; 1) Physiological - breathing, food, water; 2) Safety - security of body, employment; 3) Love/Belonging - friendship, family, sex life; 4) Esteem - confidence, achievement, respect; 5) Self-Actualization - morality, creativity, spontaneity
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Information Search
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All of the actions consumers take to identify and obtain information on the means of solving a problem
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Evaluative Criteria
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Product attributes or performance characteristics on which consumers base their product evaluations OBJECTIVE vs. SUBJECTIVE
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Multiattribute Attitude Model
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attitude models that examine the composition of consumer attitudes in terms of selected product attributes or beliefs
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Heuristics
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A rule of thumb strategy that often allows us to make judgments and solve problems.
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Affect Referral Rule
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make decision on basis of overall affective impression or feelings about the brand
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Compensatory Rule
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weaknesses in one attribute can be compensated for by strength in another
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Classical Conditioning
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A learning procedure in which associations are made between a natural stimulus and a learned, neutral stimulus.
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Operant Conditioning
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A type of learning in which the consequences of an organism's behavior determine whether it will be repeated in the future
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The Communications Process
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Sender --> Encoding --> Channel Message --> Decoding --> Receiver --> Response/Feedback
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Message
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Consists of the verbal and/or nonverbal elements of communication to which people give meaning
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Cognitive Response
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Examining the thoughts that occur to consumers when reading, viewing, and/or hearing a communication.
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Dimensions of Credibility
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Expertise, Trustworthiness, Attractiveness
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Message appeal
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Humor, Fear, and Comparative
