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46 Cards in this Set

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promotional mix
the combination of communication tools used to: inform prospective buyers about the benefits of the product, persuade them to try it, and remind them later about the benefits they enjoyed by using the product
Integrated marketing communications (IMC)
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
Communication
the process of conveying a message to others and requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding
Advertising
any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor
Personal selling
consists of the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
Public relations
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
Publicity
nonpersonal, indirectly paid presentation of an organization, good, or service
Sales promotion
a short-term inducement of value offered to arouse interest in buying a good or service
Direct marketing
a promotion alternative 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
push strategy
involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product
pull strategy
involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product
hierarchy of effects
the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product). The stages include awareness, interest, evaluation, trial, and adoption
Direct orders
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
Lead generation
the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information
Traffic generation
the outcome of a direct marketing offer designed to motivate people to visit a business
percentage of sales budgeting method
choosing the promotion budget by setting it as a percentage of past or anticipated sales
competitive parity budgeting method
budgeting the promotion budget by matching the competitor's level of spending or the proportion per market share
promotion budgeting that
(1) determines its promotion activities
(2) outlines the tasks to accomplish these objectives, and
(3) determines the promotion cost of performing these tasks
objective and task budgeting method
1) advertising
2) personal selling
3) sales promotion
4) public relations
5) direct marketing
5 basic integrated marketing communications (IMC) tools
Encoding
the process of having the sender transform an idea into a set of sybols
Decoding
the process of having the receiver take as set of symbols, the message, and transform the symbols back into an idea
field of experiance
a similar understanding and knowledge applied to a message
feedback loop
consists of a response and feedback
response
is the impact the message had on the receiver's knowledge
Noise
extraneous factors that can work against effective communication by distorting a message or the feedback received.
Feedback
Interpersonal communicators get the receiver's response to a message directly.
Mass selling
a communication with the consumers that is targeted at groups of prospective buyers.
customized interaction
personal selling between a seller and a prospective buyer.
1) Awareness
2) Interest
3) Evaluation
4) Trial
5) Adoption
5 stages of Hierarchy of effects
Awareness
Ability to recognize and remember the product or brand.
Interest
Increase in desire to learn about the product features
Evaluation
Consumer’s appraisal of the product on important attributes.
Trial
Consumer’s actual first purchase and use.
Adoption
Repeated purchase and use of the product or brand
IMC audit
analyzes the internal communication network of the company by identifying key audiences, evaluating customer databases, and assessing messages in recent advertising.
feedback
the senders interpretation of the response and indicates whether the message was decoded and understood as intended
source
may be a company or person who has information to convey
message
the information sent by a source
channel of communication
the path by which a message is sent.

- such as a salesperson, advertising media, or public relations tools
receiver
persons whom read, hear, or see a message
All you can afford budgeting method
allows money to be spent on promotion only after all other budget items such as manufacturing costs are covered
1) Identify the target audience
2) specifying promotion objectives
3) setting the promotion budget
4) selecting the right promotional tools
5) designing the promotion
6) scheduling the promotion
Steps for developing an IMC program
Introduction Stage
Informing consumers in an effort to increase their level of awareness is the primary promotional objective

In general, all the promotional mix elements are used at this time.
Growth Stage.
persuade the consumer to buy the product. Advertising is used to communicate brand differences, and personal selling is used to solidify the channel of distribution.
Maturity Stage
the need is to maintain existing buyers. Advertising�s role is to remind buyers of the product�s existence. Sales promotion, in the from of discounts and coupons, is important in maintaining loyal buyers.
Decline Stage.
is usually a period of phase-out for the product, and little money is spent in the promotional mix.