Mktg 101 Ch 16 & 17

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SusanneS28
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212489
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Mktg 101 Ch 16 & 17
Updated:
2013-04-09 18:46:52
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Mktg 101 16 17
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Mktg 101 Ch 16 & 17
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  1. Promotion
    communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.
  2. Communicate value
    listen to what customers need or the feedback after using the product. Satisfied. Part of the promotion. Advertising is the marketer speaks to the consumer.

    The process by which we exchange or share meaning through a commen set of symbols.

    • 2 major categories:
    • Interpersonal communication: is direct, face to face communication between two or more people. EX: Salesperson speaking directly with a client.
    • Mass Communication: involves communication a concept or message to large audiences. A great deal of marketing communication is directed to consumers as a whole, usually through a mass medium such as television and newspapers. Marketer must wait to see customer reactions.
  3. Promotional Strategy
    • a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media.
    • Intregal in reaching the target market.

    Advertising (long term):

    Sales Promotions (short term):
    Coupons, rebates, discounts, in-store displays, price cuts. incentive.

    Coupon vs. Discount: $1 off sales price. Is there any reason to do one over the other? Coupon is not available to everyone. The coupon does a good job to figure out who is a price sensative customer.
  4. Competitive advantage
    one more unique aspects of an organization that cause target consumers to patronize that firm rather than competition.

    • High Product quality
    • Rapid Delivery
    • Low Prices
    • Excellent Service
    • Unique Features
  5. Store trading area
    A circle around a store like safeway. It is important to distribute coupons around areas where people will shop.
  6. Sender
    the originator of the message in the communication process
  7. Encoding
    the conversion of a sender's ideas and thoughts into a message, usually in the form of words or signs
  8. Channel
    a medium of communication - such as a voice, radio, or newspaper for transmitting a mesage
  9. Noice
    anything that interferes with, distorts, or slows down the transmission of information
  10. receiver
    the persion who decodes a message

    These marketers target the through the channel to customers who will decode it.
  11. Decoding
    Interpretation of the language and symbols sent by the source through a channel.
  12. Message Transmission
    • reception
    • noise
    • can be cluttered in newspapers where noise level is high, reception is low.
  13. Feedback
    interpersonal communication

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