Marketing Final Exam 3310(Abshire)_1_1_1_1 Flashcards

Terms Definitions
Promotion
communication by marketers taht informs, perusuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.
Hint:
informs, persuades, and reminds buyers
Promotional Strategy
a plan for the optimal use of the elements of promotion:
Hint:
advertising, pulbic relation, personal selling, and sales promotion
Promotional Mix
combination of promotion tools used to reach the target market and fulfill the organization's overal goals.
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Ties into promotinal strategy
Advertising
Most commonly distributed by tradional media, though increasingly though non- traditinonal medai
Hint:
Web Sites, email, blogs, and interactive video kiosks in malls and supermarkts
Traditional Media
Telvision,Raido, Newspapers, Magzines, Books, Direct mail, Billboards, Transit cards
Hint:
any old communication route
New Advertising
Media, Internet, BannerAds Viral Marketing, E-mail, Interactive video
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New- and - improved communcation
Public relations/publicity
Helps an organization communicate wiht customers, suppliers, stockholders, government officals, employees, and the community.
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Maintain a postive image, Eduacte the pulbic about the company's objectives, Introduce new products, Support the sales effort, and Generate favorable publicity
Sales Promotion
Marketing activites other than personal seling, advertising, and public relations, that stimulate consumer buying and dealer effectiveness
Personal Selling
Planned presentation to one or more prospective buyers for the purpose of making a sale
Hint:
Two types of Personal Selling: Tradional, Relationship Selling
Traditional Selling
Attempts to persuade the buyer into a specific point of view.
Hint:
Win- or - Lose outcome
Relationship Selling
Long-Term relatinship with buyers
Hint:
create a win - win outcome
Taks Promotion
Informing Reminding, and Persading
Informing
Increase awearness, Explain how product works, suggest new uses, Bulid company image
Hint:
PLC Stages: Early Growth
Persuading
Encourage brand switching, Change customers' perceptions of product attributes, Influence immediate buying decision, Persuade customers to call
Hint:
PLC Stages: Growth Maturity
Reminding
Remidn customers that prodcut may be nedded, Remind customers where to buy product, Maintain customer awearness
Hint:
PLC Stages: Maturity
Factors affecting the Promotional Mix
Nature of the Product, Stage of PLC, Target market characteristics, Type of buying decision,Promotinal funds, and Push and Pull Strategy
Nature of the Product
Characteristics of a product itself can influence the promotional mix; a product can be a classified as either a business product or a consumer product.
Push strategy
a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise
Pull strategy
a marketing strategy that stimulates consumer demand to obtain product distribution.
The concept of integrated marketing communications
The careful coordination of all promotional messages to assure the consistency of messages at every contact point where a company meets the consumer
Institutional:
Enhances a company’s image rather than promote a particular product
Product
Touts the benefits of a specific good or service
Pioneering advertising
Stimulates primary demand for new product or category, Used in the PLC introductory stage
Competitive advertising- selective
Influences demand for brand in the growth phase of the PLC, and Often uses emotional appeal
Comparative advertising
Compares two or more competing brands’ product attributes, and Used if growth is sluggish, or if competition is strong
Advantages and disadvantages of major advertising media: Newspaper,Magazines, Radio Telvision, Internet, Outdoor Media
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Hint:
Reach
the number of target consumer exposed to a commercial at least once during a specific period, usually four weeks
Frequency
is the number of times an individual is exposed to a given message during a specific period
Audience selectivity
the ability of an adverting medium to reach a precisely defined market
Flexibility
- if a medium can be extremely important to an advertiser
Nosie Level
is the level of distraction to the target audience in a medium
Life Span
which means that message can either quickly fade or persist as tangible copy to be carefully studied. (Today, there are over 1600 television stations across country compared to 40 years ago when there were only 3)
Media fragmentation
forcing media planners to pay as much attention to where they place their advertising as to how often the advertisement is repeated.
Major Public relations tools
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Consumer sales promotion objectives and tools: sales promotion activities targeting the ultimate consumer.
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