Bmgt 450 Exam 1 Ch 1,2,3

Front 1

marketing

Back 1

process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy indiv and org objs

Front 2

relationship mktg

Back 2

>1x exchange
focus: lifetime value of customer

Front 3

mktg mix

Back 3

product
price
place (distribution)
promotion

Front 4

IMC

Back 4

concept of mktg comm taht recog added value of a comprehensive plan that evals the strategic roles of a variety of comm disciplines ... and combines them to provide clarity, consistency, and max comm impact

Front 5

IMC becoming more impt

Back 5

shift from ad to other forms of comm
fragmentation of mass audiences
power shirt from manuf to retailers
database mktg
growth of internet
increased role of branding

Front 6

promotion

Back 6

comm function of mktg
coordination of all seller-initiated efforts to set up channels of info and persuasion to sell g/s or promote an idea

Front 7

promotional mix

Back 7

advertising
direct mktg
interactive/internet mktg
sales promotion
publicity/pr
personal selling

Front 8

advertising

Back 8

any PAID form of nonpersonal comm about an org, product, service, or idea by an identified sponsor

+: can control mssg, cost effective, create/maintain brand equity
-: cost prohibitive, diff to measure/def effectiveness, clutter

Front 9

direct mktg

Back 9

orgs comm directly w/customers to generate a response/transaction
ex: dell, ll bean

+: customization - use of tech
-: clutter, image problems

Front 10

interactive/net mktg

Back 10

back/forth flow of info whereby users can participate in and modify the content they receive in real time
ex: sites w/games to draw customers
+: low cost

Front 11

sales promo

Back 11

provide extra value/incentive to the sales force, distributors, or the end consumer and can stimulate immed sales
consumer oriented: coupons, rebates
trade-oriented: car dealers
+: appeals to price sensitive consumers, can bump up interest, easier to measure success
-: easy to become overreliant (customers only buy on sale), sales promo wars (mut destruction), decrease brand equity

Front 12

publicity and pr

Back 12

publicity: non personal comm about an org, p/s, or idea that is not paid for/run under ided sponsorship (+credibility, -no control)

pr: mgmt function which evals public attitudes, id public policies, and execute a program of action to earn public understanding/acceptance

Front 13

personal selling

Back 13

p2p comm whereby a seller attempts to assist and/or persuade prospectives to purchase a p/s

+: can directly tailor mssg, immed direct feedback
-: overall mssg can get diluted, cost

Front 14

IMC planning model

Back 14

provides a framework for developing and implementing an org's IMC program

Front 15

opportunity analysis

Back 15

where are customer needs/wants not being met?

Front 16

competitive analysis

Back 16

who are competitors? what's your comp adv?

Front 17

target mktg process

Back 17

id mkts
group pot customers into mkt segments
select a target mkt
det how to position the product

Front 18

segmenting

Back 18

break mkt into meaningful groups which will vary based on the product

Front 19

customer char

Back 19

geographic
demographic
psychographic - lifestyle

Front 20

buying situations

Back 20

outlet type
usage
awareness/intentions
behavior

Front 21

positioning

Back 21

product attribute/benefit
price/quality
use/application
product class
product user
competitor
cultural symbol
repositioning

Front 22

3 organizational designs

Back 22

centralized
decentralized
in house

Front 23

centralized
ad manager

Back 23

responsible for all ad and promo activities, including planning and budgeting, execution and coordination w/other depts and outside agencies

Front 24

decentralized
brand/product manager

Back 24

responsible for total mgmt of the brand (managing entire mktg program, overseeing planning, budget, sales, and profit perf)

Front 25

in house

Back 25

less objectivity
lack of experience

Front 26

why use an outside agency

Back 26

gain skills not found in house
objectivity
experience

Front 27

full service agencies

Back 27

offer clients full range:
creative, account, mktg services

Front 28

creative boutiques

Back 28

specialize in and provide only ad creative services
often founded by creative depts of full service firms who strike out on their own
very diff to succeed

Front 29

media buying specialists

Back 29

indep companies that specialize in media planning and buying
most freq used by TV/Radio
Agencies and companies develop their ad strategies then hire a buying service to implement

Front 30

direct response agencies

Back 30

database mgmt
direct mail
research
media services
creative
production

Front 31

sales promo agencies

Back 31

promotion planning
creative work
research
coordination w/ads
contest/sweepstakes dev
database mktg

Front 32

pr/publicity

Back 32

mssg and strategy dev
damage control
gen publicity
image portrayal
lobbying
public affairs

Front 33

interactive specialist

Back 33

interactive media creation
digital content creation