Communication process and Fig 15-1 (be sure to know the different elements) Source Message Communication channel Receiver Encode Decode Field of experience Feedback Response Noise Channel capacity 3. Objectives of promotion Create awareness Stimulate demand 5
Encourage product trail Identify prospects Retain loyal customers Facilitate reseller support Combat competitive promotional efforts Reduce sales fluctuations 4. 4 elements of promotion mix and their strengths and weaknesses Advertising: Any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor through mass media Personal selling: A paid two-way flow of communication between a buyer and seller, designed to inform and persuade a person’s or group’s decision Public Relations: A broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders. Publicity plays an important role. Sales Promotion: An activity or material that acts as a direct inducement, offering added value or incentive for the product or resellers, salespeople, or consumers. 5. Factors affecting the selection of promotion mix elements Promotional Resources, Objectives, and Policies: The size of an organization’s promotional budget affects the number and relative intensity of promotional methods 6
6. Promotion objectives and promotional activity during the different stages of the PLC 7. Push vs. pull strategy 7
8. Word-of-mouth communications WOM is personal informal exchanges of communication that customers share with one another about products, brands, and companies. (Much of it is now done electronically) 9. Product placement The strategic location of products or product promotions within entertainment media content to reach the product’s target market. 10. Buzz marketing An attempt to incite publicity and public excitement surrounding a product through a creative event. 11. Viral marketing A strategy to get consumers to share a marketer’s message Chapter 16 – Advertising and Public Relations 1. Advertising Is any paid form of nonpersonal communication about an organization, and its product transmitted to a target audience by mass media. 2. Types of advertising Institutional Advertising: Advertising that promotes organizational images, ideas, and political issues Advocacy advertising: Advertising that promotes a company’s position on a public issue Product advertising: Advertising that promotes the use, features, and benefits or products Pioneer Advertising: Advertising that tries to stimulate demand for a product category rather than a specific brand by information potential buyers about the product (versus the brand) 3. 8 steps in developing and implementing an advertising campaign (know details about each of the steps) 8
4. Advertising platform The creation and execution of a series of advertisements to communicate with a particular audience 5. Ways to determine the advertising appropriation (setting the budget) -What’s the task I need to do in order to reach the goal/what would it cost?
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