BUAD 301 Review Sheet Exam 4

BUAD 301 Review Sheet Exam 4 - BUAD 301 Review Sheet Exam 4...

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Unformatted text preview: BUAD 301 Review Sheet Exam 4 Lecture 16/Chapter 14 Promotion Mix/Marketing Communications Mix: the specific blend of advertising, sales promotion, public relations, personal selling, and direct marketing tools that the company uses to persuasively communicate customer value and build customer relations- Advertising: any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor- Sales Promotion: short-term incentives to encourage the purchase or sale of a product or service- Public Relations: building good relations with the companys various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events- Personal Selling: personal presentation by the firms sales force or the purpose of making sales and building customer relationships- Direct Marketing: direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships New Trends: Managers are shifting away from mass media and moving toward direct marketing, and also moving toward segmented marketing by keeping detailed customer information. Also information technology has spawned new communication tools such as iPods, cell phones, email, ect. Integrated Marketing Communication: carefully integrating and coordinating the companys many communications channels to deliver a clear, consistent, and compelling message about the organization and its products Elements of the Communication Process:- Sender: party sending the message- Encoding: process of putting thought into symbolic form- Message: set of symbols that the sender transmits- Media: communication channels through which the message moves from sender to receiver- Decoding: process by which receiver assigns meaning to the symbols encoded by the sender- Receiver: the party receiving the message- Response: the reactions of the receiver after being exposed to the message- Feedback: the part of the receivers response communicated back to the sender- Noise: the unplanned static or distortion during the communication process Buyer-readiness Stages: stages consumers normally pass through on their way to making a purchase- Awareness- Knowledge- Liking- Preference- Conviction- Purchase Emotional Appeals: attempt to stir up either negative or positive emotions that can motivate purchases (patriotism, love, family closeness, humor, guilt, fear) Rational Appeals: relate to the audiences self-interest; show that the product will produce desired benefits Moral Appeals: directed to the audiences sense of what is right and proper Personal Communication Channels: two or more people communicate directly with each other, including face to ace, on the phone, through mail or email, or even through an internet chat; they are effective because they allow for personal addressing and feedback....
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BUAD 301 Review Sheet Exam 4 - BUAD 301 Review Sheet Exam 4...

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