Marketing Chapter 16

Front 1

Promotional MIx

Back 1

The combination of one or more of these communications tools, including advertising, personal selling, sales promotion, public relations and direct marketing. 

Front 2

Integrated Marketing Communications (IMC) 

Back 2

The concept of designing marketing communications programs that coordinate all promotional activities - advertising, personal selling, sales promotion, public relations, and direct marketing - to provide a consistent message across all audiences and to maximize the promotional budget and impact of the communications. 

Front 3

Communication

Back 3

The process of conveying a message to others, which requires six elements, a source, a message, a channel of communication, a reciever, and the processes of encoding and decoding. 

Front 4

Source

Back 4

A company or person who has information to convey

Front 5

Message

Back 5

The information sent by a source to a reciever

Front 6

Channel of communication

Back 6

The means of conveying a message to a reciever

Front 7

Receivers 

Back 7

Consumers who read, hear, or see the message

Front 8

Encoding 

Back 8

The process of having the sender transform an abstract idea in to a set of symbols

Front 9

Decoding

Back 9

The process of having the sender transform an abstract idea in to a set of symbols. 

Front 10

Field of Expertise

Back 10

Similar understanding in knowledge; to communicate effectively, a sender and a reciever must have a mutually shared field of experience. 

Front 11

Response 

Back 11

The impact the message had on the reciever's knowledge, attributes or behaviours.

Front 12

Feedback

Back 12

The communication flow from the reciever back to the sender that helps the sneder know what the message was decoded and understood as intended. 

Front 13

Noise

Back 13

Extraneous factors that work against effective commmunication by distorting a message or the feedback recieved. 

Front 14

Advertising

Back 14

Any paid form of non-personal communication about an organization, good, service or idea by an identified sponsor. 

Front 15

Personal Selling 

Back 15

The two-way flow of communication between a buyer and seller, often in a face to face encounter, designed to influence their purchase decision

Front 16

Public Relations

Back 16

A form of communication management that seeks to influence the feelings, opinions, beliefs held by customers, prospective buyers, sharegolders, suppliers, employees and other publics about a company and its products. 

Front 17

Publicity

Back 17

A non-personal paid presentation of an organizations good or service

Front 18

Sales Promotion

Back 18

A short-term inducement of valye offered to arouse interest in buying a good or service. 

Front 19

Direct Marketing

Back 19

Promotional element that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. 

Front 20

Product Life Cycle

Back 20

Introduction Stage

Growth Stage

Maturity Stage

Decline Stage

Front 21

Heirarchy of events

Back 21

The sequence of stages a prospective buyer goes through from inital awareness of a product to eventual action 

Front 22

Percentage of Sales Budgeting

Back 22

Allocating funds to advertising as a percentage of past or anticipated sales in terms of either dollars or units sold.

Front 23

Competitive Parity Budgeting

Back 23

Matching the competitors absolute level of spending or proportion per point of market share

Front 24

All you can afford

Back 24

Allocating funds to promotion only after all budget items are covered

Front 25

Objective and task budgeting

Back 25

A budgeting approach whereby a company determines its promotional objectives, outlines the tasks to accomplish these objectives, and determines the promotion cost of performing these tasks.