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Chapter 15-18 Final Exam Study Guide

Sales promotions cannot be the sole basis for a

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Sales promotions cannot be the sole basis for a campaign because gains are often temporary and sales drop off when the deal ends. Advertising support is needed to convert the customer who tried the product because of a sales promotion into a long-term buyer. If sales promotions are conducted continuously, they lose their effectiveness Direct Marketing : uses direct communication with consumers to generate a response in the form of an order, a request for further info, or a visit to a retail outlet. Includes face-to-face selling, direct mail, catalogs, telephone solicitations, online marketing. Consists of interactive communication and is customized to match needs of specific target markets. It is one of the fastest growing forms of promotion Disadvantage: requires a comprehensive, up to date database with info about target market. - Maintaining this database and costly and time consuming and issues of privacy lead to fewer response rates CHAPTER 16 : Advertising, Sales Promotion, and PR “Product Advertisements” Take 3 forms: pioneering/informational, competitive/persuasive, reminder 1. Pioneering tell consumers what a product is, what it can do, and where it can be found. Key objective is to inform the target market 2. Competitive promotes a specific brand’s features and benefits. Objective is to persuade the market to select the firm’s brand over a competitor a. Comparative advertising: shows one brand’s strengths relative to another 3. Reminder used to reinforce previous knowledge of a product . Good for products that have achieved a well-recognized position and in the mature phase of life cycle a. Reinforcement ad used to assure current users they made right choice “Institutional Advertisements” Objective is to build goodwill or an image for an organization rather than promote a specific product or service . Build confidence in company name. 4 alternative forms
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1. Advocacy advertisements: state comp position on an issue 2. Pioneering institutional: announcement about what a company is, what it can do, or where it is located 3. Competitive institutional: promote advantage of one product class over another and are used in markets where different product classes compete for same buyers 4. Reminder institutional: simply bring the company’s name to the attention of the target market again. DEVELOPING THE ADVERTISING PROGRAM Identifying the Target Audience All aspects of the advertising program likely to be influenced by characteristic of prospective consumer- lifestyles, attitudes, demographics To eliminate possible bias, the Federal Communications Commission suggests that advertising program decisions be based on market research about the target audience Specifying Advertising Objectives Helps advertisers with promotion decisions and selecting right media to campaign Setting the Advertising Budget Designing the Advertisement EXECUTING THE ADVERTISING PROGRAM “Pretesting the Advertising”
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