Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
25 Cards in this Set
- Front
- Back
|
Promotion
|
The coordination of a marketer’s communications efforts to influence attitudes or behavior.
|
|
|
Marketing communications can:
|
-Inform consumers about new goods or services and where they can purchase them.
-Remind consumers to continue using certain products. -Persuade consumers to choose one product over others -Build relationships with customer **Note that to "sell" is NOT one of these!! |
|
|
Integrated Marketing Communications (IMC)
|
A strategic business process that markets use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences. With IMC, marketers plan and then execute marketing communication programs that create and maintain long-term relationships with customers by satisfying customer needs.
|
|
|
Communications Model—Medium examples:
|
Magazines
Newspapers Radio Television Billboards Direct Mail Word of Mouth |
|
|
Promotion Mix
|
The major elembets of marketer-controlled communications, icluding advertising, sales promotions, public relations, personal selling, and direct marketing
**NOTE: Sales promotions are least likely to affect brand loyalty of the promotion |
|
|
Control Continuum
|
Advertising
Sales promotion Personal selling Direct marketing Public relations Word of mouth |
|
|
Ketchum finds 200 build the buzz
|
Note: It generally takes only about 200 people to create the buzz!!!!!
|
|
|
o Buzz
|
Word of mouth, grassroots, authentic, credibility
|
|
|
Hype
|
Advertising, corporate, fake, skepticism
|
|
|
Viral Marketing
|
Marketing activity in which a company recruits customers to be sales agents and spread the word about the product
|
|
|
Here is an e-mail Dr. Taylor received from Godiva.com
|
This tactic mixes sales promotion with viral marketing. I might have been more likely to forward this to friends and relatives if they had offered me an additional incentive for such a practice.
|
|
|
Why do we need IMC?
|
Because customer are bombarded today with over 1,400 advertising messages DAILY!
|
|
|
Characteristics of IMC
|
-IMC creates a single unified voice
-IMC begins with the customer -IMC seeks to develop relationships with customers -IMC involved two-way communications -IMC focuses on stakeholders, not just customers -IMC generates a continuous stream of communication -IMC measures results based on actual feedback |
|
|
Steps in Developing the IMC plan
|
NOTE: ESTABLISH SALES OBEJCTS IS NOT ONE OF THESE STEPS!
|
|
|
Database Marketing Can
|
-Database marketing is interactive (i.e., need interaction to populate the database with information).
-Database marketing builds relationships -Data marketing locates new customers -Database marketing stimulates cross-selling -Database marketing is measurable. -Responses are trackable ***NOTE: PROTECTING PRIVACY IS NOT ONE OF THESE BENEFITS! |
|
|
Top Criterion in identifying financially optimal targets
|
Decision-Making Power – The more responsibility the target has for making a buying decision, the more valuable the target
|
|
|
Hierarchy of Effects
|
Awareness --> Knowledge --> Desire --> Purchase --> Loyalty
|
|
|
Determining the Total Communication Budget
|
deciding whether to use a push or a pull strategy, and allocating how must to spend on specific promotion activities
|
|
|
Objective Task Method
|
A promotion budgeting method in which an org first defines the specific communication goals it hopes to achieve and then tries to calculate what kind of promotional efforts it will take to meet these goals.
***The objective-task method is an example of a bottom-up budgeting technique! |
|
|
Push Strategy
|
The company tries to move its products through the channel by convincing channel members to offer them
|
|
|
Pull Strategy
|
The company tries to move its products through the channel by building desire for the products among the consumers, thus convincing retailers to respond to this demand by stocking these items.
|
|
|
Step 4: Design the Promotion Mix
|
This is the most complicated step in marketing communication planning
|
|
|
The message should ideally accomplish the four objectives of the AIDA Model (although single messages rarely achieve all of these:
|
1. Get attention
2. Hold interest 3. Create desire 4. Produce action ***NOTE: “Create the Argument” is NOT one of these |
|
|
Interactive Marketing
|
A promotion practice in which customized marketing communications elicit a measurable response from individual receivers.
|
|
|
Upfront
|
The television buying market
Upfront represents 16.6 billion dollars annually |
