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202 Cards in this Set
- Front
- Back
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6 Psychological Influences on the consumer purchase decision process |
1. Motivation 2. Personality 3. Perception 4. Learning 5. Values, beliefs, Attitudes 6. Lifestyle |
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Motivation |
the energizing force that stimulates behaviour to satisfy a need |
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5 Levels of Maslow's Hierarchy of Needs (basic to learned to higher needs) |
5 levels of needs we fulfill from bottom to top: 1. Physiological Needs 2. Safety Needs 3. Social Needs 4. Esteem Needs 5. Self-actualization |
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physiological needs |
needs that are basic to survival and must be satisfied first: food,water,shelter fast food ads try to activate this need |
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safety needs |
self-preservation and physical well-being: freedom from harm, financial security smoke detectors and burglar alarm manufacturers focus on these needs |
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social needs |
love, friendship, belonging dating and fragrance companies try to arouse these needs |
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esteem needs |
need for achievement, status, prestige & self-respect luxury brands like Holt Renfrew appeal to this need |
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self-actualization needs |
personal fulfillment travel providers appeal to these needs |
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3 Criticisms of Maslow's Hierarchy of Needs |
1. there is no measure or tool to assess where you are on the hierarchy 2. no clear indication of when you have completed one level and are ready to move on to the next level of needs 3. is not cross-cultural: does not fit well with collectivist Asian cultures fits with individualist north american cultures if you switch 3rd and 4th level |
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Personality |
character traits that influence behavioural responses a person's self-concept reveals their traits compliant buy brand names, aggressive buy signature/luxury brands |
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2 types of self-concept (the way people see themselves) |
1. actual self-concept: how people actually see themselves 2. ideal self-concept: how people would like to see themselves ex: use of attractive models in grooming product ads appeals to ideal self-concept |
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Perception |
the process by which an individual selects, organizes and interprets information to see a meaning picture of the world we use selective perception to filter the information we process there are 3 types of selective perception |
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what is selective exposure and at what stage of the consumer purchase decision process does it occur? give an example |
people pay attention to messages that are consistent with their attitudes and beliefs and ignore messages that are inconsistent occurs in the post purchase stage (seeing an ad for a brand you just bought, ex: buying a chevy equinox & then seeing it every where) occurs when a need exists (ex: you are more likely to see a mcdonalds ad when you're hungry rather than after you've eaten) |
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what is selective comprehension? give 2 examples |
it is when consumers interpret information in a way that is consistent with their attitudes and beliefs 1. Snow Pup snow blower didnt sell until renamed Snow Master 2. A smoker will disregard the message of anti-smoking ads |
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what is selective retention and what stage does it occur in and 2 ways to overcome it? |
consumers do not remember all the information they encounter we remember what fits with our beliefs affects the internal and external info search stage 1. take home brochures can overcome it 2. create vivid and powerful ads that are hard to miss or be forgotten |
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sensation vs perception |
sensation: basic/immediate sensory response -marketers cannot influence this perception: our interpretation of sensory info -marketers can have huge influence on this |
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Neuromarketing Study that differentiates between sensory and perception |
blind taste test of coke and pepsi:
-people cannot differentiate which is which -sensory info is very similar ( sugary, bubbly liquid) -no sensory ability to distinguish between them so enjoyed drink and reward centers lit up known taste test: -people had clear preferences -thinking and judgement center lit up -preferences influence perception (why marketing has bug influence) RESULT: peoples' brains act differently due to preferences |
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Perceived Risk & how does it affect purchase decision process |
Perceived risk is the anxiety felt because consumers cannot anticipate outcome of a purchase and believes there may be negative consequences (pre-purchase anxiety) causes the external info search stage to be more extensive |
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5 ways to reduce perceived risk |
1. obtain seals of approval 2. secure endorsements from influential people 3. provide free trials of the product 4. provide illustrations 5. provide warranties and guarantees ^make customers feel at ease & more comfortable making the purchase |
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Learning |
behaviors that result from repeated experience and reasoning 2 types: behavioural & cognitive |
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behavioural learning and its 4 components |
developing automatic responses to a type of situation built up through repeated exposure to it (learning through direct experience) 4 variables cause this: 1. drive (a need) 2. cue ( a stimulus or symbol such as an ad that tells us a way to meet drive) 3. response ( action taken to satisfy the drive) 4. reinforcement (reward) or negative reinforcement (unpleasant reaction) |
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Stimulus generalization |
a response brought by one stimulus (cue) is generalized to another stimulus |
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why do generic brands use similar (look-a-like) packaging to brand names? why do companies use the same brand name to launch new products? (ex: Tylenol Cold, Tylenol Flu,etc) |
stimulus generalization |
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ability to perceive differences among similar products |
stimulus discrimination |
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Cognitive Leanring |
making connections in our mind or observing others (learning through thinking, reasoning & mental problem solving) repetition of connections (ex: slap chop) |
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brand loyalty |
favourable attitude developed through habit formation (consistent purchase of a single brand over time) when routine problem solving becomes a habit (ex: buying a coke every time you're thirsty) being on autopilot when making purchases |
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brand loyalty: soup study |
-soups in store usually arranged according to brand -store arranged them alphabetically by flavour -60% of people purchased wrong soup -went to where fave brand usually is -picked up soup without checking (autopilot) |
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learned predisposition to respond to an object or class of objects in a consistently favourable to unfavourable way develop based on values and beliefs |
attitude |
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our standards; what we aspire towards |
values |
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-consumer perceptions -perception of how things are, based on personal experience ex: rude salesperson can lead to negative attitude about store when paired with valuing kindness |
beliefs |
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how to create attitude change |
1. change beliefs about the extent to to which a brand has certain attributes (ex: concern about painkiller's effect on upset stomach, advertise gentleness of product) 2. change perceived importance of attributes (ex: sleep country emphasizes importance of good nights sleep and how their mattresses can improve sleep quality) 3. add new attributes to a product (ex: colgate adding antibacterial ingredient then marketing it) *yogurt probiotic example |
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IAOs (activities, interests, opinions) |
Lifestyle! 1. activities: how we spend time & resources 2. interests: what we consider important 3. opinions: what we think of ourselves & world around us |
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analysis of consumer lifestyles used for market segmentation |
psycographics |
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5 socio-culutral influences |
influences that stem from relationships with one another: 1. personal influence 2. reference groups 3. family influence 4. culture 5. sub-culture |
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personal influence |
1. opinion leadership: social influence over others (opinion leaders; celebrities and business executives) 2. word-of-mouth: -people influencing each other during conversations -viral marketing (on-line WOM) ex: |
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3 ways to overcome negative word-of-mouth? |
1. provide factual info (ex:Mcdonalds Q&A website) 2. toll-free number for consumers 3. appropriate product demonstrations |
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hiring people to talk up a brand together |
product-seeding |
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reference group |
a group of people who influence a person's attitudes, values, and behaviours |
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3 types of reference groups |
1. Membership group: a group that the person actually belongs to 2. Aspiration group: a group the person wishes to be a member of or wishes to be identified with 3. Dissociative group: one that a person wishes to maintain a distance from because of differences in values or behaviours |
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3 sources of family influences: |
1. Consumer Socialization: -children learn how to purchase from interaction with adults and through their own experiences -brands of items in home will likely influence your brand choice when you purchase those items yourself 2. Family Life Cycle: needs change throughout different phases in life 3. Family Decision-Making -joint-decisoin makin gstyle -spouse dominant decison making style |
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young single buying preferences |
nondurables, prepared food, clothing, personal care they are good targets for travel, automobile, and electronic firms |
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a set of values, ideas and attitudes that are learned and shared among members of a group |
culture |
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groups within a large culture that have unique values, ideas and attitudes |
subcultures |
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young married couples without children |
more affluent than young singles and they prefer furniture, houseware, gift items for each other |
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young marrieds with children |
life insurance, children's products, home furnishings |
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single parents with children |
least financially secure: convenience foods, child care services, personal care items |
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middle-aged married couples with children |
leisure products and home improvements |
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middle-aged without children |
more discretionary income (better home furnishings, status automobiles, financial services) |
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most say for grocceries, clothing, children's toys and medicine |
wives |
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more influence in home and car maintenance purchases |
husbands |
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cars, vacations, houses, home appliance, electronics, medical care, long distance telephone service |
joint-decision making |
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5 family decision making roles |
1. information gatherer 2. influencer: usually children and teens 3. decision-maker 4. purchaser 5. user |
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Quebec Canadians |
cautious with new products, plan food purchases, swayed by specials fashion-conscious, desire for beauty, low travel rate, dont use banks, rarely have credit cards |
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Chinese Canadians |
affluent, educated, spend on kids education, luxury cars, word-of-mouth very powerful to them, eat at restaurants more |
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cross-cultural analysis |
the study of similarities and differences among consumers in two or more nations or societies involves understanding and appreciating the values, customs, symbols and language of other societies |
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socially preferable modes of conduct or states of existence that tend to persist over time -principles, standards, abstract, worth something to you ex: cow is sacred in India, so McDonald's does not sell beef burgers debt=guilt in german so they dont like credit cards |
value |
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what is considered the normal way of doing things, traditions, repeated practices in a culture ex: dinner times in canada are earlier than in spain, slurping in Japan, bribes in other cultures |
customs |
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OECD (organisation for economic co-operation and development) |
anti-corruption laws such as anti-bribery rules |
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cultural symbols |
objects, ideas, or processes that represent a particular group of people or society ex: number 4 in japan is unlucky (meants death) |
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Language: avoiding translation errors |
use back translation: a translated word/phrase is translated back into the original language by a different interpreter to catch errors |
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market research |
the process of planning, collecting, and analyzing information in order to recommend actions to improve marketing activities used to reduce the risk of and uncertainty of making poor business choices |
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Marketing Information System (MIS) |
a set of procedures and processes for collecting, sorting, analyzing, and summarizing marketing info on an on-going basis to help manage the data used to help understand how elements impact business, anticipate competitive moves, and predict consumer behaviour and preferences |
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Metrics |
numeric data that is collected and grouped to track performance used in spreadsheets and dashboards to make it easy to understand and interpret |
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Dashboards |
visualize data and key performance indicators (KPIs) using graphs, charts, and numbers so that numerical info tells a story makes it more easy to use and understand |
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3 types of market research |
1. exploratory 2. descriptive 3. causal |
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exploratory research |
-preliminary research that helps guide further research (provides direction & a general understanding of problem/consumer perception) -normally conducted with the intent that it will be followed up with more conclusive research -can include reading current literature on topic and asking consumers what they want to find out |
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descriptive research |
designed to describe the basic characteristics of a given population or to clarify usage patterns and attitude ex: demographic characteristics (detailed profiles of product purchasers), usage patterns, attitude towards product magazines, radio stations and tv stations use descriptive research to attract prospective advertisers |
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causal research |
designed to identify cause and effect relationships among variables -done after exploratory and descriptive -usually an expectation/prediction about the outcome ex: effect of an advertisement on sales |
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4 goals of marketing research |
IDEA: 1. Identify consumer needs 2. Determine purchase intent 3. Evaluate new ideas 4. Assess future opportunities |
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6 step market research approach |
1. define the problem/issue/ opportunity 2. design the research plan 3. conduct exploratory and qualitative research 4. collect quantitative primary research 5.compile, analyze, and interpret data 6. generate reports and recommendations |
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define a problem: make an objective |
specific,measurable goals that the decision-maker seeks to achieve
cannot be too broad (problem intangible) or too narrow (research value questionable) - it can fail usually in the form of a question |
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design a research plan (3 steps) |
1. what info is needed 2. how will research be collected (ourselves-primary, or someone else-secondary) 3. is a sampling plan needed (probability or non-probability) |
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probability sampling |
Selecting a sample so each element of apopulation has a specific known chance of being selected
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non-probability sampling |
selecting a sample so some elements of a population have no chance or an unknown chance -arbitrary judgement -can cause bias but normally used for exploratory research bc further research required later ex: deciding who to chose from based on location, online survey excludes members of the population who are not online |
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conducting exploratory research |
exploratory secondary data: 1. internal (already exits in company: sales reports,etc) 2. external ( published from sources outside the company) exploratory primary data (5 methods) 1. focus groups 2. social listening 3. online communities 4. in-depth interviews 5. online bulletin boards |
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focus groups |
research technique in which a small group of people (6 to 10 usually) meet with a trained moderator to discuss predtermined topics |
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social listening |
researchthat monitors public online consumer conversations on social media sites suchas social networks, blogs, and forums
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3 reasons to conduct primary data research |
1. secondary data may be out of date 2. the definitions or categories may not be right for the project 3. existing secondary data may not be accurate enough |
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online exploratory primary methods (3) |
1. online communities: engage respondents through dialogue 2.online bulletin boards: private online forums but do not engage respondents in dialogue 3. social listening: monitors public online consumer conversations on social media (can provide qualitative and quantitative info) ex: kraft used this to help identify 4 diff segments of at home hamburger eaters |
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3 primary quantitative research methods |
1. observations 2. surveys 3. experiments |
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observations |
PPM, social listening, personal observations, store scanner info pros: -useful when respondents cannot articulate -accurate when collected by machines -reflect actual behaviours -reduce interviewer bias bc mechanical observations cons: -does not answer why -does not give data on attitudes and opinions -behaviour can be interpreted differently by different researchers -may require further explanation -ethical issues |
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surveys |
personal interviews, mail questionnaires, phone interviews, internet surveys, central location interviews pros: -numerous qs -standardized qs -can probe for in-depth answers -can be administered many ways cons: -methodology can cause bias in results -interviewer can cause bias -can be expensive and time consuming |
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experiments |
test markets, simulated test markets, lab experiments pros: -can change variables and measure results in a controlled setting -can avoid costly failures by allowing modification of marketing programs -can provide a more accurate reflection and prediction than other forms cons: -time consuming and expensive -results can be difficult to interpret -test markets may be visible to competition -difficult to find a representative sample |
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syndicated studies |
hybrid of secondary and primary well-respected conglomerate spreads costs among many clients and performs research studies |
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survey panel |
large sample voluntarily and regularly completes questionnaires useful for assessing change in behaviour and attitude |
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omnibus survey |
voluntary participation in routine search surveys that allow marketeres to add questions to an existing survey to receive cost-effective data used by multiple companies so competition might learn what your're interested in |
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compile, analyze and interpret data |
1. how to analyze data 2. what tools to use 3. how can data be synthesized and simplified |
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writing reports and recommendations |
-clear, concise -use of dahsborads |
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neuromarketing |
the measuring of brain activity and function in response to marketing programs use of EEGs, MRIs, PET scans |
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why is neuromarketing used? |
to allow companies to predict how you will react to a new product based on your reactions to different products |
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why are ads more effective in the morning? |
stimulates memory, attention and concentration |
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neuromarkareting study: frito lays |
baked vs classic hips packaging baked chips' matte dull bag resulted in lower guilt activity classic chips' bright shiny yellow bag resulted in higher activity in guilt center of brain |
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4 approaches to market segmentation |
1. mass marketing 2. niche marketing 3. segment marketing 4. individualized marketing |
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mass marketing |
a product with broad appeal is marketed to the entire market with no product or market differentiation at all (sold indiscriminately to all target groups) ex:propane, natural gas, fruits/veg |
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consumer market |
goods, services, and ideas purchased for personal use |
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business market |
goods, services, ideas purchased to run a business or to make another good, service, or idea |
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market segmentation |
aggregating prospective buyers into groups that have common needs and respond similarly to marketing programs |
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segment marketing |
a large company markets several product lines (range of diff products) to meet the needs of different target markets (segments) can also occur in business to business from (based on key accounts) |
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niche marketing |
a company restricts efforts to marketing a limited product line to a narrow but profitable segment that is of marginal interest to competitors one segment one product line usually seen in smaller companies |
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individualized marketing |
personal, one-to-one marketing with customized offers, fit to individual needs enabled by technology |
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4 components of a target market profile |
1. geographics 2. demogrpahics 3. psychographics 4. behaviouristics |
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6 components of geopgrahics |
where a target market lives: 1. country 2. region (Atlantic, prairies, BC, Ont, QC,etc) 3. province 4. city size 5. population density (urban, suburban, rural) 6. climate |
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8 components of Demographics |
1. Ageranges 2. Gender 3. Familylife cycle/ family composition 4. Income 5.Occupation 6. Education 7. Ethnicbackground 8. Homeownership |
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5 components of psychographics |
our lifestyle: 1. personality traits 2. lifestyle values and approaches 3. leisure activities, hobbies, interests 4. media habits 5. technology usage *usually based on primary data |
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4 components of behavioursitics |
how and why consumers buy a product: 1. benefits sought 2. usage rate 3. usage status 4. loyalty status *focus on heavy users |
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personas |
character descriptions of a brand's typical customers |
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first step of market segmentation |
reviewing strategic company objectives (sales/profit targets and corporate social responsibility initiatives)
Only after these objectives are reviewed do we identify consumer needs and determine market segments |
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product positioning |
the impression of the branded product you want to establish in consumer minds |
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3 basic factors in product positioning |
1. image: leaders, contenders, or rebels of the market 2. product attribute: differentiating features
3. price: products with brand parity and little product differentiation may place themselves on a price platform |
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positioning statement & the 4 componentss |
a short formalized written statement that identifies the image a branded product represents in the market and what sets it apart from the competition 1. branded product name 2. category in which the product competes 3. one or two main reasons why the target market buys the product (benefits) 4. what differentiates product from competition |
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where are positioning statements included? |
included in annual marketing plan and its relevant strategic documents |
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repositioning |
revamping of a branded product and its marketing mix to more accurately meet consumer needs (change in product positioning to match a long term change in consumer attitudes or they want to change opinions of a brand) |
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positioning/perception maps |
visualrepresentations of how products are positioned in a category to consumers Showgaps in the market + competition in category Clarifythe two most important attributes that drive purchases (e.g., nutrition and agefor a beverage company) Attributesshould be objective and measurable |
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10 steps of market segmentation |
1. review strategic compnay objective 2. identify business unit objectives 3. identify consumer/customer needs and common characteristics in the market 4. cluster common consumer variables to create meaningful market segments(RFM analysis-recency, frequency, monetary) 5. conduct SWOT analysis on the segments 6. identify the segment that best meets strategic company objectives 7. identify marketing programs and budget requirements needed for this segment 8. create a sales forecast for this segment 9. conduct a profit-and-loss financial analysis for this segment 10. check financial forecasts against specific business unit objectives |
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product |
a good, service, or idea consisting of a bundle of tangible and intangible attributes can be offline (ex: breakfast cereal) or online (ex: anti-virus software) |
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tangible attributes |
physical characteristics: what you can see, feel, taste, hear ex: colour, sweetness |
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intangible attritbutes |
attributes that cant be "touched" how the product makes you feel |
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3 categories of products |
1. Non-durable good 2. Durable good 3. Service |
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non-durable good |
does not last; can only be consumed once or for a limited number of times ex: food products and fuel |
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durable good |
lasts for an extended amount of time ex: appliances, furnishings, automobiles |
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service |
intangible activity, benefit, satisfaction ex: banking, online search, using cloud-based software, visiting doctor, watching a movie, etc |
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2 types of services |
1. primary 2. supplementary (ex: parking, ABM, foreign exchange transactions, monthly statements, warranties, etc) |
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virtual services |
exist only online with no physical person-to-person component and no tangible component |
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service continuum |
range from goods-dominated (tangible) to service-dominated (intangible) |
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4 I's of Service |
1. Intangibility 2. Inconsistency 3. Inseparability 4. Inventory |
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how to overcome Intangibility |
provide customer testimonials, free trials, glasses virtual try on, demonstrations |
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how to overcome inconsistency |
difference from person to person giving same service (varying quality and capabilities) : provide training to standardize processes and behaviours and use standardized softwares |
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inseparability |
representation of company differentiating between the person giving the service and the service/company itself |
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inventory |
perishability: when products such as concert tickets cannot be stored for long periods of time for use at a later date online services arent perishable idle production capacity occurs when a service is available but little demand for it (surplus of a service) but companies deal with this through part-time workers |
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total product concept |
viewing products in 3 layers: 1. core product layer 2. actual product layer 3. augmented product layer |
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core product |
fundamental benefit received from product ex: transportation from a bike |
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actual product |
the physical good or service itself including the product's brand, design, and features ex: the bike itself (its brand design features) |
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augmented product |
additional features and attributes generally for more expensive purchases ex: warranties, delivery options, installation assistance, repair contract, a distinguishing website, |
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product line |
a group of similar products with the same product and brand name |
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how are product lines differentiated? |
by benefits and packaging and usage |
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product mix |
the array (combination) of product lines marketed by a company (described in terms of depth and width) |
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product width |
the number of different categories in a company's product mix |
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product depth |
variety of product lines and products sold within the categories of a product mix |
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consumer products |
purchased by ultimate consumer for personal use |
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business products (industrial goods/organizational products) |
purchased either to run a business or used as a component in another good or service |
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4 types of consumer purchases |
differ by effort and frequency of purchase: 1. convenience products 2. shopping products 3. specialty products 4. unsought products |
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convenience products |
inexpensive, frequent purchases, minimal effort ex: candy, bread, newspapers |
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shopping products |
comparison shopping (assessing price and attributes), greater investment of shopping time, more expensive, need more assurance of purchase satisfaction (ex: jeans, books, TVs) |
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specialty products |
considerable time and effort to purchase, more expensive and branded, high purchase satisfaction want specialty brands so no substitutes accepted ex: rolex watch, cupcakes from specialty one of a kind store, norwegian cruise |
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unsought products |
items that the consumer does not know about or do not realize their need for ex: caskets, fire extinguishers |
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2 types of business products |
1. production goods and services 2. support goods and services |
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production goods |
become part of final product (ex: lumber into table, grain into cereal) |
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support goods |
assist in production ex: 1.installations (buildings + fixed equipment) 2. accessory equipment (tools + office equipment) 3. supplies: stationary, brooms 4. services |
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brand |
a name or phrase uniquely given by a company to identify its products from the competition |
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brand equity |
the value of a brand that results from the favourable exposure, interactions, associations, and experiences that consumers have with a brand over time |
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ipsos's 5 brand elements |
1. trustworthiness 2. engagement 3. leading edge 4. corporate citizenship 5. presence |
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brand personality |
a set of human characteristics associated with a brand |
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patents |
used for tech |
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copyright |
used fro written words |
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trademark |
used for logos and images |
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5 brand name considerations |
1. name should suggest product benefits 2. memorable, distinctive, positive 3. should fit company or product image 4. legally protected 5. simple, easy to remember |
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3 types of brands |
1. manufacturer brand 2. private-label brand 3. generic brand |
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manufacturer brand |
owned and produced by manufacturer more expensive bc of this |
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private-label brand (store brand) |
retailer contracts out manufacturing then sells product under own name so its cheaper than a manufacturing brand |
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generic brand |
no branding at all and cheaper than manufacturer and private-label brand main ingredient is the selling feature normally for medicine dollar store items with no branding |
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value |
price indicates value therefore value= perceived benefits / price |
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4 general pricing approaches |
1. demand oriented approaches 2. cost oriented approaches 3. profit oriented approaches 4. competition oriented approaches |
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demand oriented approaches: how would consumers react? 5 types |
1. skimming: start high then go low 2. penetration: low initial price (appealing to price sensitive, and discourages competition) 3. prestige: start high, stay high (appealing to people who value quality + status) 4. odd-even: a few cents/dollars under even number to make price seem lower 5. target: estimate the price consumers are willing to pay then work backward through markups to determine the price they can charge (might even change product attributes) |
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prestige pricing: wine study |
same wine given to people to taste but told different prices when told high price, they reacted more favourably perception based on price influenced brain activity and influenced sensation |
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cost-oriented approach (1) |
cost-plus pricing: summing the total unit cost and adding a specific amount to the cost to get the price most commonly used for business products and in business-to-business market |
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profit-oriented approach (1) |
target profit pricing: dollar value of target profit divided by estimation of sales *depends on an estimate of demand therefore there is a high chance of error *best for firms offering new or unique products without lots of competition |
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competition-oriented pricing |
1. above-,at-,or, below-market pricing: companies choose based on the market price 2. loss-leader pricing: setting the price of commonly used goods very low to draw customers in and get them to buy higher priced goods cherrypicking reduces effectiveness of this |
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retailing |
all activities involved in selling, renting, and providing goods and services |
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5 utilities from retailing that create value to consumers |
1. time 2. place 3. form utility: tailoring/altering to custom fit consumer 4. information 5. possession utility: providing various ways to pay |
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3 forms of ownership |
1. independent retailer 2. corporate chain 3. contractual system |
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independent retailer |
small businesses can adapt and be more efficient than larger competitors quality personal service + lifestyle compatibility owners are their own bosses |
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corporate chain |
multiple outlets under common ownership centralized decision making & purchasing so consumers get similar merchandise and consistent experiences can benefit from economies of scale (reduced costs) |
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contractual system |
franchise system: independently owned stores that use leverage to act like a chain franchiser provides procedures, training help and advertising help |
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outbound marketing |
marketers seek consumers |
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inbound marketing |
interested consumers find the product |
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integrated marketing communications (IMC) |
program that coordinates all promotional activities to provide a consistent message to a target audience |
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advertising |
paid form of media used to communicate to consumers |
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6 promotional tools |
1. Advertising 2. Public Relations 3. Sales Promotion 4. Direct Response 5. Event-marketing & sponsorship 6. Personal Selling |
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advertising |
Outdoor/transit:
Relativelylow cost + Highvisibility + Strongopportunity for repeat exposures + Cannotbe turned off + Messagemust be short and simple - Lowselectivity of audience - |
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sales promotion |
acommunications tool that provides short-term incentives to generate interest ina product or cause and encourages purchase or support
NEEDS TO FIT WITH PRODUCT/SERVICE |
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display advertising |
use of images or pictures online can use videos |
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banner ads (display ads) |
1. leaderboards (accross top) 2. skyscrapers (along side) |
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public relations |
communications tool that seeks to influence the opinions and attitudes of target groups through the use of unpaid media exposure |
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publicity |
non-personal form of communication that appears in the media and is not paid for directly by the organization |
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5 public relations tools |
1. press releases 2. press conferences 3. special events 4. company reports 5. social media |
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press releases |
organization writes announcement and sends to media most frequently used |
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press conference |
media reps are sent to an informal meeting with the company materials prepared ahead of time |
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special events |
company sponsored seminars, conferences, sporting/entertainment events |
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company reports |
formal info published in annual reports, brochures, etc |
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social media |
social media releases using online multimedia |
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sales promotion |
communications tool that provides short-term incentives to generate interest in a product or cause and encourages purchase or support |
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user-generated content (UGC) |
created by participants |
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premium |
gives you extra merchandise in exchange for proof of purchase |
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rebates |
price reduction via mail in exchange for proof of purchase |
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coupons |
price reductions offered in exchange for tickets/documents |
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direct response |
marketing communications tool designed to communicate with consumers one on one and to elicit a direct action (either offline or online) short term communication blasts such as e-mail newsletters, points program updates, etc |
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lead generation |
metric used to evaluate direct response; a resultant request for additional info |
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traffic generation |
metric used to evaluate direct response; resultant visit to a location or website |
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event marketing |
the creation or involvement of a brand in an experience or occasion that heightens its awareness
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sponsorship |
when a company pays a fee in exchange for inclusion in an event |
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personal selling |
face-to-face buyer and seller communication to influence a purchase decision (sometimes through communication devices) |
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relationship selling |
building long-term loyalty from customers based on a salespersons attention and commitment to customer needs over time |
