Business Chapter 16

Card Set Information

Business Chapter 16
2014-12-07 18:45:14
Business 16

review sheet from Elizabeth Slenker
Show Answers:

  1. promotion mix
    the combination of promotional tools an organization uses
  2. traditional promotion mix includes:
    Integrated Marketing Communication (IMC) is used to: create a positive brand image, meet needs of consumers, meet strategic marketing and promotional goals of the firm
  3. promotional campaign
    • identify a target market
    • define objectives
    • determine a promotional budget
    • develop a unifying message
    • implement the plan
    • evaluate effectiveness
  4. Advertising
    paid, non-personal communication through various media by organizations and individuals who are in some way identified in the message
  5. Major goals of advertising
    • inform
    • persuade
    • remind
  6. Product placement
    advertisers pay to put their products into TV shows and movies where the audience will see them
  7. infomercial
    a full length TV program devoted exclusively to promote a particuar product
  8. Interactive promotion
    allows marketers to open a dialogue between buyers and sellers and let them work together to create beneficial exchange
  9. online advertising
    • brand messaging is key
    • site must be easy to navigate
    • make sure calls to action are effective
    • Users want fast, readable sites
    • users with disabilities should be able to navigate
  10. global advertising
    • requires marketers to develop a single product and promotional strategy to implement worldwide
    • problems can arise in global markets with using one advertising campaign in all countries (bad translating)
  11. personal selling
    the face-to-face presentation and promotion of a product, including the salesperson's search for new prospects and follow-up service
  12. prospecting
    researching potential buyers and choosing those most likely to buy
  13. qualifying
    making sure customers have a need for a product, the authority to buy and the willingness to listen to a sales message
  14. prospect
    a customer who meets the qualifying criteria
  15. Public Relations (PR)
    Evaluates public attitudes, changes policies and procedures in response to the public, and executes a program of action and information to earn public understanding and acceptance
  16. 3 steps of good PR program
    • listen to the public
    • change policies and procedures
    • inform people you're responsive to their needs.
  17. Publicity
    any information about an individual, product, or organization that's distributed to the public through the media and is not paid for or controlled by the seller
  18. Advantages of publicity
    • free, reaches people who would not look at an advertisement, more believable than advertising
    • no control over whether the media will use a story or when they may release it
    • it can be good or bad
    • once a story has been run, it isn't likely to run again
  19. sales promotion
    the promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities
  20. Categories of sales promotions
    • B2B sales promotions
    • consumer sales promotions
  21. key consumer promotions
    • coupons
    • demonstrations
    • sampling
    • sweepstakes
    • in-store displays
    • contents
  22. word-of-mouth promotion
    people will tell others about products they have purchased
  23. word-of-mouth is important for products like:
    • restaurants
    • daycare and eldercare
    • car repair shops 
    • hair stylist
    • hotels
  24. viral marketing
    paying customers to say positive things on the Internet or setting up multiple selling schemes whereby consumers get commissions
  25. blog
    short for web log; an online diary that looks like a webpage, but is easier to create and update by pasting text, photos, videos, or links
  26. podcasting
    a way to distribute audio and video programs via the Internet
  27. mobile media
    marketers make use of cell phones to text customers about product offers and other company information
  28. push strategy
    producers use advertising, personal selling, sales promotion, and other tools to get their products stocked on shelves
  29. pull strategy
    directs heavy advertising and sales promotions efforts towards consumers and gets the public to request their products from retailers
  30. pick economy
    refers to consumers who pick out their products from online outlets