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MKT study guide exam 2

Outlines the tasks to accomplish goals determine

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Outlines the tasks to accomplish goals Determine promotion cost Selecting the Right Promotional Tools Combination of the 5 basic IMC tools can be specified
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Chapter 16: Advertising, Sales Promotion, and Public Relations  29/10/2012 19:24:00 DEVELOPING THE ADVERTISING PROGRAM
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Identifying the Target Audience Specifying Advertising Objectives Setting the Advertising Budget Designing the Advertisement Message Content o Fear appeals— suggest to the consumer that he or she can avoid some negative experience through the purchase and use of a product, a change in behavior, or a reduction in the use of a product o Sex appeals— suggest to the audience that the product will increase the attractiveness of the users o Humor appeals— imply either directly or subtly that the product is more fun or exciting than competitor’s offerings Creating the Actual Message Selecting the Right Media decision is related to the target audience, type of product, campaign objectives, budget and cost Conflicting goals o Maximize exposure o Minimize costs Gross Ratings Points (GRP)—reach x frequency Cost per Thousand (CPM) Different Media Alternatives
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Scheduling the Advertising buyer turnover— how often new buyers enter the market to buy the product o higher=more advertising purchase frequency —the more frequently the product is purchased the less repetition is required forgetting rule —the speed with which the buyers forget the brand if advertising is not seen Three basic approaches o Continuous schedule—when seasonal factors are unimportant o Flighting schedule—periods of advertising are schedule between periods of no advertising to reflect seasonal demand o Pulse Schedule—flighting schedule combine with a continuous schedule because of increases in demand, heavy periods, or introduction of a new product SALES PROMOTION Trade-Oriented Sales Promotion Sales tools used to support a company’s advertising and personal selling direct to wholesalers, distributors or retailers Allowance and Discounts o Merchandise allowance —reimbursing a retailer for extra in store support
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o Case allowance —a discount on each case ordered during a specific time period o Finance allowance —paying retailers for financing costs or financial losses associated with consumer sales promotion Cooperative Advertising o Advertising programs by which a manufacturer pays a percentage of the retailer’s local advertising expense for advertising the manufacturer’s products Training of Distributor’s Salesforces
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