Advertising And Promotion: Chatper 2 - Role Of Imc In Marketing

Front 1

Market Opportunities

Back 1

Favorable demand trends, where the company believes customers needs and opportunities are not being satisfied and where it can compete effectively.

Front 2

Competitive Advantage

Back 2

Something special a firm does or has that gives it an edge over competitors. A hallmark, if you will.

Front 3

Target Marketing

Back 3

Marketing Process used to satisfy different consumer needs. Can be done in the following steps:

-Identify markets with unfulfilled needs

-Segmenting the market

-Targeting specific markets

-Positioning one's product or services through marketing strategies

Front 4

Market Segmentation

Back 4

Dividing a market into distinct groups that have common needs and will respond similarly to a marking action

Front 5

Types of Segmentation

Back 5

Geographic - dividing groups geographically or location based

Demographic - dividing groups based on sex, age, family size, education, income, race, etc.

Psychographic- dividing groups based on lifestyle and personality traits

Behavioristic - based on usage, loyalties, or buying response

Benefit - Grouping customers on the basis of attributes sought in a product

Front 6

Undifferentiated Marketing

Back 6

Ignoring segment differences and offering just one product or service for the entire market.

Front 7

Differentiated Marketing

Back 7

Marketing in a number of segments and developing separate marketing strategies for each.

Front 8

Concentrated Marketing

Back 8

When the firm selects one segment and attempts to capture a large share of this market

Front 9

Positioning

Back 9

The art and science of fitting the product or service to one or more segments of a brad market in a way as to set it meaningfully apart from the competition

Front 10

Positioning by Use or Application

Back 10

Associate it with specific use or application

Front 11

Positioning by Product Class

Back 11

Airlines compete with other airlines, trains, and buses

Front 12

Positioning by Price or Quality

Back 12

Can be expensive or premium, which tells us about the product itself

Front 13

Positioning by User

Back 13

Emphasizes stereotypes and sells towards particular group

Front 14

Positioning by Competitor

Back 14

Focuses on differentiation and similar to product class, and focuses on competitors

Front 15

Positioning by Cultural Symbol

Back 15

Meaningful symbol can be associated with the brand and makes it easily identifiable.

Front 16

Repositioning

Back 16

Occurs when declining sales or stagnant because of anticipated opportunities in other market positions.

Front 17

Product Symbolism

Back 17

What the product or brand means to consumers and what they experience in purchasing and using it.

Front 18

Brand Equity

Back 18

The intangible asset of added value or goodwill that results from the favorable image, impressions of differentiation, and/or strength of consumer attachment.

Front 19

Marketing Channels

Back 19

The place element of the marketing mix, are sets of interdependent organizations involved in the process of making a product or service available for use or consumption

Front 20

Direct Channels

Back 20

Used in the consumer market by firms using direct-selling programs such as Avon, Tupperware, etc. Direct response advertising, telemarketing, or the internet.

Front 21

Indirect Channels

Back 21

A network of wholesalers and or retailers which then sell to the final consumer.

Front 22

Promotional Push Strategy

Back 22

Program designated to pursuade the trade to stock, merchandise, and promote a manufacture's product

Front 23

Trade Advertising

Back 23

helps interest wholesalers and retailers to make them buy its products for resale. Appears in publications that serve a particular industry.

Front 24

Promotional Pull Strategy

Back 24

Spending money on advertising and sales promotion efforts directed towards the ultimate consumer. Creates demand among consumers and encourages them to request product from retailer.