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24 Cards in this Set

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  • Back
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Definition of Marketing
organizational function and set of processes for creating, communicating and delivering a value to customers and for managing customer relationships in ways that benefit the organization
Types of benefits
Functional, Experiential, Psychological
Value
customer's perception of all the benefits of a product or service weighed against costs of acquiring and consuming it
Goal of IMC
generate short-term financial returns and build long-term brand value
Reasons for IMC trend
Multiple forms of communication, specialized media, retailer dominance, data-based marketing, greater agency accountability, performance-based compensation, widespread internet availability
CRAPSDI
Promotional Mix
Advertising, Direct Marketing, Interactive/interet marketing, sales promotion, publicity/PR, Personal selling
De-centralized marketing department
dept. split into sales, product management and marketing services. Product mgmt is made up of brand managers who work with outside agencies
Advantages of in-house agencies
cost savings, more control, better coordination
Types of agencies
full service, in-house, and creative boutiques
Compensation Methods
commissions from media; fee, cost and incentive-based systems, percentage charges
Social Media guideposts
5 Rs: Reputation
Responsibility
Relationship
Reward
Rigor
Top In-house agencies
Yellow Tag Productions, Fidelity, Content Factory
Top global agencies 2009
saatchi & saatchi, DDB, Goodby Silverstein & Partners, Crispin Porter & Bogusky, Obama/Biden Campaign
Decision-making process for consumers
5 steps (PIAPP)
Problem recognition
Info Search
Alternative evaluation
Purchase decision
post-purchase evaluation
Psychological Process in decision making process (MPAIL)
Motivation, perception, attitude formation, integration and learning
Shaping
reinforcement of successive acts that lead to a desired behavior pattern; for a particular result
External influences on consumers
Culture, subculture, social class, reference groups, situational dedeterminants
Persuasion Matrix - dependent variables
message presentation, attention, comprehension, yielding, retention, behavior
Persuasion Matrix - independent variables
source, message, channel, receiver, destination
Source attributes
Source credibility, source attractiveness, source power
Appeals in messages
comparative ads, anxiety/fear, humor
channel factors
Personal: flexible, powerful, real time
Nonpersonal: no contact, large audience, static
Communications effect/objectives
Awareness
Knowledge
Liking
Preference
Trial
Use
All Kings Lick Pussy Tongues Up
Budgeting methods
Affordable, ROI, Arbitrary Allocation, Competitive Parity, % of sales
Creative Process
Immersion, digestion, incubation, illuminatioin, verification