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25 Cards in this Set
- Front
- Back
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Advertising |
paid, nonpersonal communication regarding goods, services, organizations, people,places, and ideas that is transmitted through various media by business firms, who are identifiedin the advertising message as the sponsor |
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Public Relations |
includes any communication to fostera favorable image for goods, services, organizations, people, places, and ideasamong their publics |
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Publicity |
is the form of public relations that entails nonpersonal communication passed on via various mediabut not paid for an identified sponsor\ Importance of PR has grown as the cost of other mediahas increased |
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Sales promotion |
involves paid marketing communication activities(other than advertising, publicity, or personal selling) intended to stimulatepurchases and dealer effectiveness used for both short-term and long-termobjectives |
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Personal selling |
involves oral communication with one or moreprospective buyers by paid representatives for the purpose of making sales |
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Channel of Communication |
The mechanism by which a source develops a message, transmit it to an audience via some medium, and gets feedback from the audience.. |
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Encoding |
The process in a channel of communication whereby a thought or idea is translated into a message by the source. (Conversion to Message) (Content) |
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Decoding |
The process in a channel of communication by which a message sent by a source is interpreted by an audience. (Message recipient) (interpretation) |
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Noise |
Distractions preventing message delivery |
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Types of Messages |
(One sided, two-sided, comparative) |
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Massed Promotion |
Communications efforts that are concentrated in peak periods, such as holidays. |
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Distributed Promotion |
Communication efforts spread throughout the year |
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The Lagged Effect |
Advertisingdoes not always have an immediate impact/ Multipleexposures are often necessary/ Difficultto determine which exposure led to purchase |
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Wearout Rate |
the time ittakes for a message to lose effectiveness Depends on communication frequency, message quality, Etc. |
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Promotion Goals (hierarchy model) |
(provide information, develop positive attitudes and feelings, stimulate purchases and retain desires) |
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Promotionobjectives can be divided into |
stimulatingdemand and enhancingcompany image |
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provide information |
Obtain consumer product recognition, then gainconsumer knowledge of product attributes /At the early stages of the model, when a good serviceis little known, primary demand should be sought /Primary demand is for a product category |
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Develop Positive Attitudes and Feelings |
Obtain favorable attitudes, then gain preference forthe company’s brand(s) over those of the competition When preference is the goal, selectivedemand should besought. This is demand for a particular brand. |
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Stimulate Purchases and Retain Desires |
Obtain strong consumer preference, gain purchase ofgood or service, encourage continued purchases, and achieve brand loyalty Sometimes, organizations may try to sustain orrevitalize interest in mature products and revert to a primary demand orientation |
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Promotion Budget Techniques |
All-You-Can-Afford Method, Incremental Method, Competitive Parity Method, Percentage-of-Sales Method, Objective-and-Task Method |
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All-You-Can-Afford Method |
Firm first allots funds for other elements of marketing; remaining marketing funds then go to the promotion budget. |
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Incremental Method |
A percentage is added to or subtracted from thisyear’s budgetto determine next year’s. |
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Competitive Parity Method |
Promotion budget is raised or lowered according tocompetitors’ actions |
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Percentage-of-Sales Method |
Promotion budget is tied to sales revenue. |
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Objective-and-Task Method |
Firm sets promotion goals, determines the activitiesneeded to satisfythem, and then establishes the proper budget. |
