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24 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Definition of Marketing
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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
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Types of benefits
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Functional, Experiential, Psychological
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Value
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customer's perception of all the benefits of a product or service weighed against costs of acquiring and consuming it
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Goal of IMC
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generate short-term financial returns and build long-term brand value
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Reasons for IMC trend
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Multiple forms of communication, specialized media, retailer dominance, data-based marketing, greater agency accountability, performance-based compensation, widespread internet availability
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CRAPSDI
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Promotional Mix
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Advertising, Direct Marketing, Interactive/interet marketing, sales promotion, publicity/PR, Personal selling
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De-centralized marketing department
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dept. split into sales, product management and marketing services. Product mgmt is made up of brand managers who work with outside agencies
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Advantages of in-house agencies
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cost savings, more control, better coordination
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Types of agencies
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full service, in-house, and creative boutiques
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Compensation Methods
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commissions from media; fee, cost and incentive-based systems, percentage charges
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Social Media guideposts
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5 Rs: Reputation
Responsibility Relationship Reward Rigor |
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Top In-house agencies
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Yellow Tag Productions, Fidelity, Content Factory
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Top global agencies 2009
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saatchi & saatchi, DDB, Goodby Silverstein & Partners, Crispin Porter & Bogusky, Obama/Biden Campaign
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Decision-making process for consumers
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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 |
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Shaping
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reinforcement of successive acts that lead to a desired behavior pattern; for a particular result
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External influences on consumers
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Culture, subculture, social class, reference groups, situational dedeterminants
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Persuasion Matrix - dependent variables
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message presentation, attention, comprehension, yielding, retention, behavior
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Persuasion Matrix - independent variables
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source, message, channel, receiver, destination
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Source attributes
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Source credibility, source attractiveness, source power
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Appeals in messages
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comparative ads, anxiety/fear, humor
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channel factors
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Personal: flexible, powerful, real time
Nonpersonal: no contact, large audience, static |
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Communications effect/objectives
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Awareness
Knowledge Liking Preference Trial Use |
All Kings Lick Pussy Tongues Up
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Budgeting methods
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Affordable, ROI, Arbitrary Allocation, Competitive Parity, % of sales
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Creative Process
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Immersion, digestion, incubation, illuminatioin, verification
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