MKTG Final Promo

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MKTG Final Promo
2010-04-30 00:42:03

Promotional Terms
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  1. Communication Model
    The process whereby meaning is transferred from a source to a reciever.
  2. Parts of the Communication Model (ESMMRDNF)
    • Encoding
    • Source
    • Message
    • Medium
    • Receive
    • Decoding
    • Noise
    • Feedback
  3. Encoding
    The process of translating an idea into a form of communication that will convey meaning.
  4. Source
    An organization or individual that sends a message.
  5. Message
    The communication in physical form. Goes from a sender to a receiver.
  6. Medium
    A communication vehicle through which a message is transmitted to a target audience.
  7. Recieve
    Who or what intercepts and interprets the message.
  8. Decoding
    Process by which a receiver assigns meaning to the message.
  9. Noise
    Anything that interferes with effective communication.
  10. Feedback
    Receivers reaction to the message.
  11. Promotion Mix (5 elements)
    • The major elements of marketer-controlled communication.
    • -Advertising
    • -Public relations
    • -Personal selling
    • -Sales promotion (contests, coupons, incentives)
    • -Direct marketing
  12. Integrated Marketing Communication (IMC)
    A strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences.

    Goal of IMC is to build relationships with customers.
  13. Promotion
    Coordination of a marketer's communication efforts to influence attitudes or behavior.
  14. Control Continuum
    Amount of control a marketer has over the message.
  15. Word of Mouth (WOM)
    When consumers provide information about products to other consumers.
  16. Buzz Marketing
    Using high-profile entertainment or news to get people to talk about your brand.

    work with new products, no financial pay.
  17. Guerrilla Marketing
    Marketing activity in which a firm 'ambushes' consumers with promotional content in places they are not expecting to encounter this kind of activity.
  18. Consumer-generated media (CGM)
    On-line consumer generated comments, opinions, and product related stories available to other consumers through digital technology.
  19. Database Marketing
    The creation of an ongoing relationship with a set of customers who have an identifiable interest in a good or service.
  20. Hierarchy of Effects
    A series of steps prospective customers move through, from initial awareness of a product to brand loyalty.
  21. Competitive-parity method
    A promotion budgeting method in which an organization matches whatever competitors are spending.
  22. Bottom-up budgeting techniques
    Allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish them.
  23. Top-down budgeting techniques
    Allocation of the promotion budget based on management's determination of the total amount to be devoted to marketing communication.
  24. Push Strategy
    The company tries to move its products through the channel by convincing channel members to offer them.
  25. Pull Strategy
    The company tries to move its products through the channel by building desire for the products among consumers. This convinces retailers to respond to this demand by stocking these items.
  26. AIDA Model
    The communication goals of attention, interest, desire, and action.
  27. Experimental Marketing
    Marketing activities that attempt to give customers an opportunity to actually interact with brands. Causes them to make for intelligent and informed purchase decisions.