chapter 18

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chapter 18
2010-12-16 01:07:43

chapter 18
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  1. Promotional mix
    • can be used to inform perspective buyers about the benefits of the product
    • persuade them to try it
    • remind them after about the benefits they enjoyed by using the product
  2. Integrated marketing communications
    the concept of designing marketing communications programs that coordinate all promotional activities to provide a consistent message across all audiences
  3. Communication
    the process of conveying a message to others and it requires six elements
  4. source
    may be a company or person who has information to convey
  5. Message
    the information sent by a source such as a description of a new telephone
  6. Channel of communications
    what the message is conveyed through
  7. receiver
    consumers who read hear or see through
  8. encoding
    the process of having the sender transform an idea into a set of symbols
  9. decoding
    the process of having the reciever take a set of symbols the message and transforms they symbols back to an idea
  10. Field of experience
    a similar understanding and knowledge that apple to the message
  11. feedback loop
    which consists of response and feedback
  12. response
    the impact of the message had on the recievers knowledge
  13. feedback
    the senders interpretation of the response and indicates whether the message was decoded and understood as intended
  14. noise
    includes extraneous factors that can work against effective communication by distorting a message of feedback received
  15. Mass selling
    used with groups of prospective buyers
  16. customized interactions
    between a seller and a prospective buyer
  17. advertising
    any paid form of non personal communication about an organization food service or idea by an identified sponsor
  18. wasted coverage
    communications with consumers who are not in the target audience
  19. personal selling
    two way flow of communication between a buyer and seller designed to influence a persons or groups purchase decision
  20. public relation
    is a form of communication management that seeks to influence the feelings opinions or beliefs held by customers stock holders suppliers employess and other publics about a company and its products or service
  21. publicity
    is a non personal indirectly paid presentation of an organization good or service
  22. sales promotion
    a short term inducement of value offered to arouse interest in buying a good or service
  23. direct marketing
    uses direct communication with consumers to generate a response in the form of an order a request for further information or a visit a retail outlet
  24. ancillary services
    pertain to the degree of services of support required for the sale
  25. complexity
    refers to the technical sophistication of the product hence the amount of understanding required to use it
  26. push strategy
    directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product
  27. pull strategy
    directing its promotional mix at ultimate consumers to encourage them to ask the retailer for a product
  28. hierarchy of effects
    • awareness
    • interest
    • evaluation
    • trial
    • adoption
  29. awareness
    the consumers ability to recognize and remember the product or brand name
  30. interest
    an increase in the consumers desire to learn about some of the features of the product or brand
  31. evaluation
    the consumer appraisal of the product or brand on important attributes
  32. evaluation
    the consumers appraisal of the product or brand on important attributes
  33. trial
    the consumers actual first purchase and use of the product
  34. adoption
    through a favorable expierence on the first trial the consumers repeated purchase and use of the product or brand
  35. the percentage of sales budgeting
    funds are allocating to promotion as a percentage of past or anticipated sales in terms of either dollars or units sold
  36. competitive party budgeting
    matching the competitors absolute level of spending or proportion per point of market share
  37. all you can afford budgeting
    in which money is allocated to promotion only after all other budget items are covered
  38. objective and task budgeting
    • whereby the company
    • 1. determines its promotion objectives
    • 2. outlines the task to accomplish theses objectives
    • 3. determine the promotion costs of performing these task
  39. direct orders
    are the result of offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction
  40. Lead generation
    the result of an offers designed to generate interest in a product or service and a request for additional information
  41. traffic generation
    the outcome of an offer designed to motivate people to visit a business
  42. product life cycle
  43. introduction - to inform
    • growth - to persuade
    • maturity - to remind
    • decline - to phase out
  44. advertising
    • mass
    • fees paid for space or time
    • strengths - efficient means of reaching a large number of people
    • weakness - high absolute cost and difficult to recieve good feedback
  45. personal selling
    • customized
    • fees paid to sales people as either salaries or commission
    • strengths - immeadiate feedback and very persuasive
    • weaknesses - extremely expensive per exposure
  46. public relations
    • mass
    • no direct payments to the media
    • strengths - often most credible source in consumers mind
    • weakness - difficult to get media cooperation
  47. sales promotion
    • mass
    • wide range fee paid depending on promotion selected
    • strengths - effective at changing the behavior in a short run and very flexible
    • weaknesses - easily abused
    • can lead to promotion wars
    • easily duplicated
  48. direct marketing
    • customized
    • cost of communication through mail telephone or computer
    • strengths - messages can be prepared quickly
    • facilitates relationship with customer
    • wekanesses - declining customer response
    • database management is expensive
  49. pre purchase stage
    advertising is more helpful than personal selling becuase advertising informs customer of the exsistence of the product
  50. purchase stage
    importance of selling is at its highest where as the impact of advertising is at its lowest
  51. post purchase
    the sales of the sales person is still important as well as advertising
  52. developing the imc program
    • developing
    • executing
    • assessing the promotional program
  53. four w's
    • what is the target audience
    • what are the promotional objectives
    • the amounts of money that can be budgeted
    • the kinds of promotions to uses
    • where should the promotion run
    • when should the promotion run