Marketing Chapter 18

Front 1

Source

Back 1

a company or person who has information to convey.

Front 2

Message

Back 2

the information sent by a source to a receiver in the communication process.

Front 3

channel of communication

Back 3

the means (e.g., a salesperson, advertising media, or public relations tools) of conveying a message to a receiver.

Front 4

Receivers

Back 4

consumers who read, hear, or see the message sent by a source in the communication process.

Front 5

Encoding

Back 5

the process of having the sender transform an idea into a set of symbols.

Front 6

Decoding

Back 6

the process of having the receiver take a set of symbols, the message, and transform them back to an idea.

Front 7

field of experience

Back 7

a mutually shared understanding and knowledge that the a sender and receiver apply to a message so that it can be communicated effectively.

Front 8

response

Back 8

the impact the message had on the receiver’s knowledge, attitudes, or behaviors in the feedback loop.

Front 9

Feedback

Back 9

the sender’s interpretation
of the response and indicates whether a message was decoded and understood as intended.

Front 10

Noise Noise

Back 10

includes extraneous factors that can work against effective communication by distorting a message or the feedback received.

Front 11

5 Elements of Promotion Mix

Back 11

1.) Advertising
2.) Personal Selling
3.) Public Relations
4.) Sales Promotion
5.) Direct Marketing

Front 12

Advertising

Back 12

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

Front 13

Personal Selling

Back 13

the two-way flow
of communication between a buyer and seller, designed to influence a person’s or group’s purchase decision, usually in face-to-face communication between the sender and receiver.

Front 14

Public Relations

Back 14

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

Front 15

Sales Promotion

Back 15

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

Front 16

Direct Advertising

Back 16

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 17

5 Factors affecting Use of Promotion Mix Elements

Back 17

1.) Target audience
2.) Product Life Cycle
3.) Product Characteristics
4.) Stage of Buying Decision
5.) Channel Strategy

Front 18

What are the 4 stages of the Product Life Cycle?

Back 18

1.) Introduction
2.) Growth
3.) Maturity
4.) Decline

Front 19

What are the 3 product characteristics?

Back 19

1.) Complexity
2.) Risk
3.) Ancillary services

Front 20

What are the 3 stages of buying decision?

Back 20

1.) Pre-purchase stage
2.) Purchase stage
3.) Post-purchase stage

Front 21

What are the 2 channel strategies?

Back 21

1.) Push
2.) Pull

Front 22

4 W's of Advertising Program

Back 22

a.) Who is the target audience?

b.) What are (1) the promotional objectives? (2) the amounts of money that can be budgeted for the promotion program, and (3) the kinds of promotion to use?

c.) Where should the promotion be run?

d.) When should the promotion be run?

Front 23

4 Ways to Set Promotion Budget

Back 23

1.) Percentage of sales budgeting
2.) Competitive parity budgeting
3.) All-you-can-afford budgeting
4.) Objective and task budgeting

Front 24

Percentage of sales budgeting

Back 24

consists of allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold.

Front 25

Competitive parity budgeting

Back 25

consists of allocating funds to promotion by matching the competitor’s absolute level of spending or the proportion per point of market share. Also called matching competitors or share of market.

Front 26

All-you-can-afford budgeting

Back 26

consists of allocating funds to promotion only after all other budget items are covered.

Front 27

Objective and task budgeting

Back 27

consists of allocating funds to promotion whereby the company:

1.) determines its promotion objectives

2.) outlines the tasks to accomplish these objectives

3.) determines the promotion cost of performing these tasks.

Front 28

3 Types of Direct Marketing

Back 28

1.) Direct Orders
2.) Lead Generation
3.) Traffic Generation

Front 29

Direct Orders

Back 29

the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction.

Front 30

Lead Generation

Back 30

the result of a direct marketing offer designed to generate interest in a product or a service and a request for additional information.

Front 31

Traffic Generation

Back 31

the outcome of a direct marketing offer designed to motivate people to visit a business.