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9 Cards in this Set
- Front
- Back
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creative mix
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Those advertising elements the company controls to achieve its advertising objectives, including the target audience, the product concept, the communications media, and the advertising message. See also advertising strategy.
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integrated marketing communications (IMC)
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The process of building and reinforcing mutually profitable relationships with employees, customers, other stakeholders, and the general public by developing and coordinating a strategic communications program that enables them to make constructive contact with the company/ brand through a variety of media.
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marketing plan
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The plan that directs the company's marketing effort. First, it assembles all the pertinent facts about the organization, the markets it serves, and its products, services, customers, and competition. Second, it forces the functional managers within the company to work together--product development, production, selling, advertising, credit, transportation--to focus efficiently on the customer. Third, it sets goals and objectives to be attained within specified periods of time and lays out the precise strategies that will be used to achieve them.
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marketing strategy
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The statement of how the company is going to accomplish its marketing objectives. The strategy is the total directional thrust of the company, that is, the how-to of the marketing plan, and is determined by the particular blend of the marketing mix elements (the 4 Ps) which the company can control.
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objective/task method
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A method of determining advertising allocations, also referred to as the budget-buildup method, that defines objectives and how advertising is to be used to accomplish them. It has three steps: defining the objectives, determining strategy, and estimating the cost.
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percentage-of-sales method
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A method of advertising budget allocation based on a percentage of the previous year's sales, the anticipated sales for the next year, or a combination of the two.
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sales-target objectives
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Marketing objectives that relate to a company's sales. They should be specific as to product and market, quantified as to time and amount, and realistic. They may be expressed in terms of total sales volume; sales by product, market segment, or customer type; market share; growth rate of sales volume; or gross profit.
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share-of-market/share-of-voice method
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A method of allocating advertising funds based on determining the firm's goals for a certain share of the market and then applying a slightly higher percentage of industry advertising dollars to the firm's budget.
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tactics
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The precise details of a company's marketing strategy that determine the specific short-term actions that will be used to achieve its marketing objectives.
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