Chapter 14 Vocab Flashcards Preview

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Flashcards in Chapter 14 Vocab Deck (44):
1

promotion mix (marketing communications mix)

the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships

2

5 major promotion tools

advertising
sales promotion
personal selling
public relations
direct marketing

3

advertising

any paid for of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor

4

sales promotion

short term incentives to encourage the purchase or sale of a product or service

5

personal selling

personal presentation by the firm's sales force for the purpose of making sales and building customer relationships

6

public relations

building good relations with the company's various publics by obtaining publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories and events

7

direct marketing

direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships

8

3 marketing factors that are changing in the face of today's marketing communications

consumers - better informed, more empowered
marketing strategies - fragmentation, no mass mkting
communications technology - less broadcasting and more narrowcasting

9

brand content managers

marketers who manage brand conversations with and among customers across a fluid mix of channels, both traditional and new, controlled and uncontrolled

10

integrated marketing communications (IMC)

carefully integrating and coordinating the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products

11

4 major types of media

paid
owned
earned
shared

12

paid media

includes promotional channels paid for by the sponsor, including traditional media and online and digital media

13

owned media

includes promotional channels owned and controlled by the company

14

earned media

includes PR media channels not directly paid for or controlled by the marketer

15

shared media

media shared by consumers with other consumers and brands, as well as traditional word of mouth

16

modern view of the communication process

managing the customer relationship over time

17

9 elements of communication

sender
encoding
message
media
decoding
receiver
response
feedback
noise

18

sender

party sending the message to another party
element of communication

19

encoding

process of putting thought into symbolic form
element of communication

20

message

set of symbols the sender transmits
element of communication

21

media

communication channels through which the message moves from the sender to the receiver
element of communication

22

decoding

process by which the receiver assigns meaning to the symbols encoded by the sender
element of communication

23

receiver

party receiving the message sent by another party
element of communication

24

response

reactions of the receiver after being exposed to the message
element of communication

25

feedback

part of the receiver's response communicated back to the sender
element of communication

26

noise

unplanned static or distortion during the communication process
element of communication

27

steps in developing effective marketing communication (6)

identify the target audience
determine the communication objectives
design a message
choose the media through which to send the message
select the message source
collect feedback

28

buyer readiness stages (6)

stages consumer normally pass through on their way to a purchase including:
awareness
knowledge
liking
preference
conviction
purchase

29

AIDA model for designing a message

the message should get Attention, hold Interest, arouse Desire, and obtain Action

30

elements of designing a message (2-3)

decide what to say (message content)
decide how to say it (message structure and format)

31

message content's potential appeals

rational
emotional
moral

32

3 message structure issues

draw conclusion or leave it to audience?
present strongest arguments first or last?
present 1 or 2 sided argument?

33

personal communication channels

channels through which two or more people communicate directly with each other including face to face, on the phone, via mail or email, or even through texting or an internet chat

34

world of mouth influence

personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers

35

buzz marketing

cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities

36

nonpersonal communication channels

media that carry messages without personal content or feedback, including major media, atmospheres and events

37

4 common methods used to set the total advertising budget

affordable
percentage of sales
competitive party
objective and task

38

affordable method

setting the promotion budget at the level management thinks the company can afford

39

percentage of sales method

setting the promotion budget at a certain percentage of current or future forecasted sales or as a percentage of the unit sales price

40

competitive party method

setting the promotion budget to match competitors' outlays

41

objective and task method

developing the promotion budget by:
defining specific promotion objectives
determining the tasks needed to achieve these objectives
estimating the costs of performing these tasks

42

push strategy

a promotion strategy that calls for using the sales force and trade promotion to push the product through channels; the producer promotes the product to channel members, which in turn promote it to final consumers

43

pull strategy

a promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that "pulls" the product through the channel

44

three day cooling off rule

customers who agree in their own homes, workplace, dormitory, or facilities rented by the seller on a temporary basis, to buy something costing more than $25 have 72 in which to cancel a contract or return merchandise and get their money back