Chapter 1 Flashcards
(23 cards)
exchange
p.7
there must be two or more parties with something of value to one another, a desire and ability to give up that something to the other party, and a way to communicate with each other
marketing
p.7
the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large
value
p.7
the customer’s perception of all benefits of a product or service weighed against all the costs of acquiring and consuming it
marketing mix
p.8
product, price, place (distribution), and promotion
integrated marketing communications (IMC)
p.8
the various promotional elements and other marketing activities that communicate with a firm’s customers
promotion
p.17
the coordination of all seller-initiated efforts to set up channels of information and persuasion in order to sell goods and services or promote an idea
promotional mix
p.17
the basic tools used to accomplish an organization’s communication objectives
advertising
p.18
any paid form of non-personal communication about an organization, product, service, or idea by an identified sponsor
direct marketing
p.19
organizations communicate directly with target customers to generate a response and/or a transaction
direct-response advertising
p.21
a product is promoted through an ad that encourages the consumer to purchase directly from the manufacturer
interactive media
p.21
allows for a back-and-forth flow of information whereby users can participate in and modify the form and content of the information they receive in real time
sales promotion
p.23
marketing activities that provide extra value or incentives to the sales force, the distributors, or the ultimate consumer and can stimulate immediate sales
publicity
p.24
nonpersonal communications regarding an organization, product, service, or idea not directly paid for or run under identified sponsorship
public relations
p. 25
the management function which evaluates public attitudes, identifies the policies and procedures of an individual or organization with the public interest, and executes a program of action to earn public understanding and acceptance
its purpose is to establish and maintain a positive image of the company among its various publics
personal selling
p.25
a form of person-to-person communication in which a seller attempts to assist and/or persuade prospective buyers to purchase the company’s product or service or to act on an idea
contact (or touch) point
p.26
each and every opportunity the costumer has to see or hear about the company and/or its brands or have an encounter or experience with it
integrated marketing communications management
p.28
the process of planning, executing, evaluating, and controlling the use of the various promotional-mix elements to effectively communicate with target audiences
integrated marketing communications plan
p.28
this process provides the framework for developing, implementing, and controlling the organization’s IMC program
marketing plan
p.28
a written document that describes the overall marketing strategy and programs developed for an organization, a particular product line, or a brand
internal analysis
p.29
assesses relevant areas involving the product/service offering and the firm itself
external analysis
p.32
focuses on factors such as characteristics of the firm’s customers, market segments, positioning strategies, and competitors
marketing objectives
p.34
refer to what is to be accomplished by the overall marketing program
communication objectives
p.34
refer to what the firm seeks to accomplish with its promotional program
