Marketing chapter 12 key terms

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Marketing chapter 12 key terms
2013-12-03 20:33:56
Marketing Exam3

marketing chapter 12 key terms
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  1. Promotion mix (marketing communications mix)
    The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships.
  2. Advertising
    Any paid form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor.
  3. Sales promotion
    Short-term incentives to encourage the purchase or sales of a product or service.
  4. Personal selling
    Personal presentations by the firm's sales force for the purpose of making sales and building customer relationships.
  5. Public relations (PR)
    Building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events.
  6. Direct marketing
    Connecting directly with carefully targeted segments or individual customers, often on a one-to-one, interactive basis.
  7. Integrated marketing communications (IMC)
    Carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.
  8. Advertising objective
    A specific communication task to be accomplished with a specific target audience during a specific period of time.
  9. Advertising budget
    The dollars and other resources allocated to a product or a company advertising program.
  10. Affordable method
    Setting the promotion budget at the level management thinks the company can afford.
  11. Percentage-of-sales method
    Setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.
  12. Competitive-parity method
    Setting the promotion budget to match competitors' outlays.
  13. Objective-and-task method
    Developing the promotion budget by (1) defining specific objectives, (2) determining the tasks that must be performed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.
  14. Advertising strategy
    The plan by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media.
  15. Madison & vine
    A term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching consumers with more engaging messages.
  16. Execution style
    The approach, style, tone, words, and format used for executing (properly conveying) an advertising message.
  17. Advertising media
    The vehicles through which advertising messages are delivered to their intended audiences.
  18. Return on advertising investment
    The net return on advertising investment divided by the costs of the advertising investment.