Exam 3 Review

Exam 3 Review - Chapter 14 Integrated Marketing...

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Chapter 14 – Integrated Marketing Communications LO 1 – The Role of Promotion in the Marketing Mix o Promotion – communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response. o Promotional Strategy – a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, and sales promotion. o Competitive Advantage – the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. LO 2 – The Promotional Mix o Promotional Mix – the combination of promotional tools – including advertising, PR, personal selling, and sales promotion – used to reach the target market and fulfill the organization’s overall goals. o Advertising Impersonal, one-way mass communication about a product or organization that is paid for by a marketer. Traditional media, websites/internet, etc. Low cost per contact b/c of mass communication. o Public Relations The marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance. Maintain positive image and educate the public about the organization. PR Tools Educational seminars Sponsorships Product placement Publicity o Public information about a company, product, service, or issue appearing in the mass media as a news item. o Generally not paid for by the organization. o Sales Promotion Marketing activities – other than personal selling, advertising, and PR – that stimulate consumer buying and dealer effectiveness. Free samples, trade shows, coupons, etc. o Personal Selling A purchase situation involving a personal paid-for communication between two people in an attempt to influence each other. More focus on building long-term relationships. Emphasis on win-win outcome. LO 3 – Marketing Communication
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o Communication – the process by which we exchange or share meanings through a common set of symbols. Interpersonal Communication – direct, face-to-face communication between two or more people. Mass Communication – the communication of a concept or message to large audiences. o The Communication Process The Sender and Encoding Sender – the originator of a message in the communication process. Encoding – the conversion of a sender’s ideas and thoughts into a message, usually in the form of words or signs. o What matters is what the receiver hears or how he/she interprets a message. Message Transmission
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This note was uploaded on 03/19/2008 for the course MARK 3000 taught by Professor Emmelhainz during the Fall '07 term at UGA.

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Exam 3 Review - Chapter 14 Integrated Marketing...

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