FInal Exam Flashcards

Terms Definitions
What is Marketing?
The process of planning and executing concepts, pricing, distribution and promotion of ideas goods and services to create exchanges that satisfy the perceived needs, wants and objectives of individuals and organizations. 
4 P's 
Product, Price, Place Promotion
5th- Position
Positioning
Strategic decision that sets a brand apart from competing brands.
Differentiation is key. 
Marketing communications and advertising are critical in positioning. 
IMC- Integrated Marketing Communications
marketing process that ensures that all forms of communications and messages are carefully linked together
What is advertising?
is the structured and composed nonpersonal communication of information,usually paid for and usually persuasive in nature, about products (goods and services and ideas) by identified sponsors through various media
target market
The market segment or group within the market segment toward which all marketing activities will be directed.
Stern Communications Model
1.Source:
Sponsor--> Author-->Persona
2.Message Type:
autobiography, narrative, drama
3.Receivers:
Implied consumers-->Sponsorial
consumers--> Actual consumers
4. Feedback form consumer -->sponsor
5. Repeat
 
How advertising is used as a marketing tool
Advertising is used to help attract Marketing primary purpose: revenue.
*To identify products and differentiate them from others.
*To build value, brand preference, and loyalty.
Advertising History: Pre-industrial (pre-1800)
Printing Press- most important development in advertising history
Led to new advertising vehicles: signs, flyers, newspapers
Drove literacy
Advertising History: Industrial mid 1800- mid 1900
1. Transportation facilitates distribution
2. Producers need mass consumption to meet their new mass production
3. Radio and TV
Ad history: Golden Age
1940-1980
Creative revolution
Pepsi evolution
The Product positioning era
Ad History:Post Industrial 1980-present
1. Traditional products meet more competition
2. Public becomes more aware of life quality
3. Evolution of technology- new ways of advertising
Ad History
Global Interactive Age: 21st century
1. the world of digital and social media
2. not just mass media anymore- agencies adapt
3. New relationships with consumers
4. A new way of looking at media: paid, earned, owned
Demarketing
term coined during the energy shortage in the 70s and 80s. It refers to advertising that is used to slow the demand for products.
Economic Functions of Advertising*
Advertising promotes a healthy economy and informs consumers about the available products.
Abundance Principle
States that in a economy that produces more goods and services than can be consumed, advertising serves two important purposes:
1. Complete Information; It keeps consumers informed of their alternatives
2. Self-interest; its allows companies to compete more effectively for the consumer dollars.
Puffery
"The Best" ; refers to exaggerated claims that can't be proved wrong.
Subliminal Advertising
Advertisements with messages (often sexual) supposedly embedded in illustrations just below the threshold of perception.
4 groups that make up the advertising industry
1. Advertisers (clients)- McDonalds
2. Agencies- plan & create Ad campaigns
3. Suppliers- photographers, illustrators, printers, video production houses
4. Media- sell time on radio and TV and space in print, out door or digital media.
National Advertisers
companies that advertise in several geographic regions or throughout the country.
Regional Advertisers
companies that operate in one part of the country and market exclusively to that region.
Local Advertising
Advertising by businesses within a city or county directed to consumers within that same geographical area.
interactive agency
An advertising agency that specializes in the creation of ads for digital interactive medium such as web pages, CD-ROMS, or electronic kiosks.
international agency
has offices or affiliates in major communication centers around the world and can help its clients market internationally or globally.
general consumer agency
An agency that represents the widest variety of accounts, but it concentrates on companies that make goods purchased chiefly by consumers.
full-service agency
An agency equipped to serve its clients in all areas of communication and promotion. 
*planning, creating, producing ads, performing research, media selections services.
Non advertising services: 
*Sales promo materials, publicity articles, annual reports, trade show exhibits, and sales train materials. 
business to business agency
directed at people who buy or specify goods for business use.
creative boutiques
an organization of creative specialists (such as art directors, designers and copywriters) who work for advertisers and occasionally advertising agencies to develope creative concepts, advertising messages, and specialized art. Only performs creative work.
media-buying service
an organization that specializes in purchasing and packaging radio and television time.
Art Studios
design and produce artwork and illustrations for advertisments.
web design houses
specialists who understand web based technologies and can design as and web pages that are both effective and cost efficient. 
printer
*prepare artwork for reproduction
*operate digital scanning machines
 
independent production houses
specialize in film or video production or both.
independent research companies
Research firms that work outside of an agency. They may come in all sizes and specialties, and they employ staff statisticians, field interviewers, and computer programmers, as well as analysts with degrees in:
psychology, sociology, and marketing.
Artist
a role in the creative process that experiments and plays with a variety of approaches, looking for an original idea.
explorer
a role in the creative process that searches for new info, paying attention to unusual patterns.
Judge role
a role in the creative process that evaluates the results of experimentation and decides which approach is more practical.
creative director
heads a creative team of agency copywriters, and artists that is assigned to a clients business; is responsible for the creative product.
warrior
a role in the creative process that overcomes excuses, idea killers, setbacks and obstacles to bring a creative concept to realization.
copy writer
develops the verbal message within the ad spoken by an imaginary persona
art director
responsible for the nonverbal aspect, the design, which determines the visual feel of the ad.
account manager
*the liason between the agency and the client
*manages the agency's services for the benefit of the client
*represents the agency's point of view to the client
Product utility
the special relationship between a customers needs and the products problem-solving skills
*use research to develop maximum utility
Purpose of marketing
create exchanges that satisfy the perceived needs, wants and objective of individuals.
cognitive dissonance
inconsistancy between a consumer's beliefs and what the reality becomes:
was it worth the money?
will it last?
could i find a better on for cheaper?
evoked set
alternative the consumer evaluates when it comes time to purchase a product
evaluative criteria
standards used to judge the features and benefits of alternative products.
ex: brand preference, style, speed, durability
persuassion
a change in belief, attitude, or behavioral intention
ex: comparison/competitive markets like phone service.
brand loyalty
the consumers conscious or unconscious decision-expressed through intention or behavior--to repurchase a brand continually.
stimuli
physical info we receive through our senses.
ex: seeing a taco bell commercial and then hungry
Brand
combination of name/words/symbols/designs that identifies the product and its source and distinguishes it from competing products.
*fundamental differentiating device for all products
Brand equity
the totality of what consumers and other external parties fall and think about a brand over an extended period of time. 
=the value of the brand
Brand DNA/values/identity
DNA: brand identity MUST be associated with core values
 
values: the take away associations
 
identity:3-5 words you want consumers to associate with your brand
market segmentation
1. identifying groups of people/orgs with shared needs and characteristics.
2.combining these markets into bigger market segments according to their interest in the products utility
behavioristic segmentation
segments by:
1. user status- non user, potential user, ex user, sole user
2. purchase occasion- regular occasion, special occasion
3. benefits sought- economy, convenience, prestige
benefit segmentation
is the prime objective of many consumer attitude studies and the basis for many successful ad campaigns.
geographic segmentation
people in one region of a country have different needs and wants than other regions. 
florida: boats jetskis
demographic segmentation
sex, age, ethnicity, edu, income, occupation
geodemographic segmentation
combines demographics with geographics
psychographic segmentation
marketers group people by their attitudes, values and personality.
marketing research
the systematic gathering, recording and analysis or information to help managers make marketing decisions. 
media subclasses
PRINT: Newspaper, magazine
ELECTRONIC: radio, TV
DIGITAL INTERACTIVE:Internet Kiosks, ATMs
DIRECT MAIL:Catalog, Brochure
OUT OF HOME: outdoor, transit
media vehicles
PRINT: Ny times, elle
Electronic: The ellen degeneres show
Digital interactive: yahoo, email, facebook
direct mail: spiegel
out of home: billboards, bus benches
media units
size or length of an ad
Steps in the research process
1. situation analysis and problem definition
2. exporatorary research
3. construction of research objectives
4. formal resaerch
5. interpretation and reporting findings
primary research
information collected about a specific problem; expensive
secondary research
information already collected or published.
qualitative research
consumer open thoughts and opinions
quantitative research
hard marketing numbers
marketing strategy
describes how to achieve our objectives
SWOT analysis
detailed description of a marketing situation in internal and external factors: strenghs, weaknesses, opportunities, threats
marketing objective
clear, quantifiable goals to be accomplished during a specific time period
 
purpose of media planning
direct ad messages to the right place, the right ppl & at the right time
reach
total number or ppl/households reached by an medium in a given amount of time. usually 4 weeks
frequency
measures the intensity of the media schedule, based on repeated exposures.
continuity
the duration of an ad campaign
GRP
Reach x frequency= GRPs
Two main things that make advertising effective
Relevance and resonance
strategic relevance
it might be entertaining but not relevant. Relevance is the key to strategic work.
creative brief
serves as the creative teams guide for writing and producing the ad.
design
how the art director and graphic artist choose and structure the artistic elements of an ad.
layout
overall orderly arrangement of all the format elemetns of an ad: visuals, headline, subheads, body copy, slogan, seal, logo and signature
benefit headlines
promise the audience that experiencing the utility of the product or service will be rewarding. 
*speak a foreign language in 30 days or get your money back!
new/info headline
announces news or promises information
*Osama is dead
question headline
asks a question encouraging readers to search for the answer in the body of an ad
question headline
provocative headlines
to provoke a readers curioosity
command headline
orders the reader to do something, so it might seem negative. 
*Obey your thirst
straight sell copy
writers immediately explain or develop headline
very factual
institutional copy
promote a philosophy of the brand rather than a specific product
narrative copy
tell a story. good opportunity for emotional appeal.
dialogue/monologue copy
first person consumer narrative
picture captions copy
tells a story with illustrations and captions
consumer magazines
purchased for entertainment, info or both, are edited for consumers who buy products for their own personal consumption. 
Ex: Time, Glamour, Good Housekeeping
Farm publications
are directed to farmers
business magazines
target business readers
primary readership (circulation)
the # of ppl who buy the publication
secondary readership
pass a long, estimated by market research
vertical publication
one of two classifications of business publications; covers a specific industry in all its aspects
horizontal publications
a particular job function across industries.
CPM- cost per thousand
page rate/ (circulation/1000)= CPM
how much it costs to reach a thousand people with a one time full page ad
 
Broadcast TV Pros/Cons
Pros: mass coverage, cheap, some selectivity
Cons: high production costs, high airtime cost, limited selectivity, brevity, clutter, zipping&zapping
Cable Tv Pros/Cons
Pros: Selectivity, audience demographics, low cost, flexibility
Cons: limited reach, fragmentation, quality, zipping&zapping
Radio Ad: imagery transfer
run a commercial on TV and then on the radio, more than 75% of ppl run the ad through their heads.
Keys to success in radio ads
1. identify stations with the greatest concentration
2. identify stations with a good format for buyers
3. What time to run the ad
4. make a schedule of the best time periods
5. asses buying the time; use reach&freq
6. determine cost per 1000 ppl reached
7. negociate and place the buy
types of outdoor ads
1. bulletin structures- billboards
2. 30 sheet poster panel
3. stock posters
4. junior posters
5. spectaculars- times square
packaging; how it aids marketers
protection, preservation, information and promotion.
trade shows
exhibitions where manufacturers, dealers and buyers get together for demonstration and discussion.
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