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51 Cards in this Set
- Front
- Back
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a plan for the optimal use of the elements of promotion |
promotional strategy |
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the set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition |
competitive advantage |
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Five examples of competitive advantage |
high product quality rapid delivery low prices excellent service feature not offered by the competition |
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the originator of the message in the communication process |
sender |
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the conversation of the sender's ideas and thoughts into a message, usually in the form of words or signs |
encoding |
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Four points of the marketing mix |
product place promotion price |
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Promotional mix (5) |
advertising public relations sales promotion personal selling social media |
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Five points of the communication process |
sender encoding the message message channel decoding the message receiver |
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transmission of a message requires a |
channel |
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anything that interferes with, distorts, or slows down the transmission of information |
noise |
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who will decode the message |
receivers |
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the interpretation of the language and symbols sent by the source through a channel |
decoding |
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the receivers response to a message is direct ______ _to the source |
feedback |
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The four goals of promotion |
informing persuading reminding connecting |
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Informative promotion seeks to... |
convert an existing need into a want or to stimulate interest in a new product |
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Persuasive promotion is designed to... |
stimulate a purchase or an action. |
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When is persuading used? |
in the growth stage |
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What does persuading emphasize? |
the products real and perceived competitive advantage |
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REminder promotion is used to... |
keep the product and brand name in the public's mind |
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When is reminding used? |
in the maturity stage |
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The idea behind social media to form relationships.. |
with customers and potential customers through technological ties. |
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Two points for connecting |
exchange of information through a transparent process customers in hopes they become brand advocates |
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Five points of the promotional mix |
public relations advertising sales promotion personal selling social media |
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any form of impersonal paid communication in which the sponsor or company is identified. |
advertising |
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Ten traditional media examples |
television radio newspapers magazines pay-per-click online advertising banner advertising direct mail billboards transit advertising |
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New media methods
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websites blogs interactive video kiosks |
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Benefit of advertising (3) |
can be communicated to a large number of people cost per contact is low can be micro targeted |
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Disadvantage of Advertising |
total cost is typically very high tends to restrict advertising on a national basis |
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the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in and executes a program of action to earn public understanding and acceptance |
public relations |
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Three public relation points |
communicate with its customers stockholders employees |
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Public relations is to... |
maintain a positive image educate the public about the company's goals and objectives introduce new products help support the sales effort |
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Public relations can... |
generate favorable publicity |
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consists of all marketing activities other than personal selling, advertising, public relations-- that stimulate consumer purchasing and dealer effectiveness |
sales promotion |
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Sales promotions includes...
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free samples contests premiums trade shows vacation giveaways coupons |
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a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other |
personal selling |
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a planned presentation to one or more prospective buyers for the purpose of making a sale |
traditional methods |
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Point of traditional methods |
to persuade the buyer to accept a point of view |
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More current notions on personal selling emphasize... |
the relationship that develops between a salesperson and a buyer |
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promotion tools used to facilitate conversations among people online |
social media |
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five examples of social media |
microblogs blogs podcasting vodcasts social networks |
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advertising on web sites, pay-per-click advertising |
paid media |
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three types of media |
paid media earned media owned media |
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What does the Acronym AIDA stand for? |
Attention Interest Desire Action |
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The AIDA model proposes that consumers respond to marketing messages in a... |
cognitive affective and conative sequence |
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the careful coordination of all promotional messages |
integrated marketing communications |
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What is the points of integrated marketing communications? |
to ensure the consistency of messages at every contact point where a company meets the consumer |
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Factors affecting the promotional mix |
nature of the product stages in the product life cycle target market characteristics type of buying decision available funds push and pull strategies |
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Target markets can be characterized by |
widely scattered potential customers highly informed buyers brand-loyal report purchases |
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What should you use for routine customer decision? |
advertising, especially sales promotion |
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If the decision is neither routine nor complex... |
advertising and public relations |
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complex buying decisions... |
large amounts of information, personal selling, and print advertising |
