chapter 16 exam review Flashcards
(53 cards)
coordination of promotion and other marketing efforts for maximum informational and persuasive impact; fosters long-term relationships and efficient use of promotional resources; coordinating multiple marketing tools to produce this synergistic effect requires a marketer to employ a broad perspective
Integrated marketing communications
why is IMC (integrated marketing communications) increasingly accepted
consistent message to the customers coordinate/ manage promotional efforts synchronization of promotional elements use more precisely targeted promotional tools use of database marketing protect consumer privacy
a sharing of meaning through the transmission of information
communication
a person, group, or organization that decodes a coded message
source
the individual, group, or organization that decodes a coded message
Receiver
converting meaning into a series of signs or symbols
code process( encoding)
converting signs and symbols into concepts and ideas
Decoding Process
anything that reduces communication’s clarity and accuracy
noise
receiver’s response to a decoded message
feedback
the limit on the volume of information a channel can handle effectively
channel limit
communications that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and to accept its products
Promotion
List the 8 objectives of promotion
- Create awareness
- stimulate demand
- encourage product trial
- identify prospects
- retain loyal customers
- facilitate reseller support
- combat competitive promotional efforts
- reduce sales fluctuations
awareness is crucial to initiating the product adoption process for new products
for existing products, promotional efforts create increased awareness of brands, product features, image-related issues, or operational characteristics
- Create Awareness
primary demand, pioneer promotion, and selective demand are all ways to:
- Stimulate demand
demand for a product category rather than a specific brand
Primary demand
a way to stimulate primary demand: promotion that informs consumers about a new product
Pioneer Promotion
demand for a specific brand
Specific demand
if customers stall in the evaluation stage, marketers can use methods to encourage product trial in order to move them to product adoption
trial techniques include free samples and coupons
3.Encourage product trial
some promotional efforts aim to locate and identify customers who are interested in the firm’s products and are most likely to buy
techniques include direct-response information form and toll-free number
- identify Prospects
The primary goal of marketing is to maintain long-term customer relationships; keeping current customers is less costly than acquiring new customers
retention techniques include frequent-user programs and special offers to existing customers
- Retain loyal customers
strong relationships with resellers are important to an organization’s ability to maintain a sustainable competitive advantage
various promotional methods help achieve this goal
- Facilitate reseller support
promotional activities may aim to offset or lessen the effect of a competitor’s promotional and marketing activities
this type of promotional activity does not necessarily increase sales or market share
- Combat competitive promotional efforts
a business cannot operate at peak efficiency when sales fluctuate widely; holidays and seasonal products
promotional activities are often designed to stimulate sales during slumps
8.Reduce sales fluctuations
What are the 4 elements of the Promotion Mix
Advertising, personal selling, public relations, sales promotion
