Flashcards in Exam #2 Deck (61):
1
made to look like the content around it
Native Advertising
2
company pushing sales compensation too hard leading to opening fake accounts to meet demanding targets
wells fargo
3
name for a specific product by a specific company
brand name
4
low involvement product that consumers afford little attention to when purchasing
convenience product
5
Name 3 promotion objectives
1. create awareness
2. stimulate demand
3. encourage product trial
4. identify prospects
5. retain loyal customers
6. facilitate reseller support
7. combat competitive promotional efforts
8. reduce sale fluctuations
6
USP
unique selling proposition
7
differentiating factor for a brand (positioning statement)
USP
8
promotion given from a manufacturer to a reseller to facilitate sale of manufacturers product (trade allowance, cooperative ads, push money)
trade promotion
9
FPLA
fair packaging and labeling act
10
two brands partnering together, such as breyers ice cream with oreos
cobranding
11
Types of pitches
1. one word pitch
2. question pitch
3. subject line pitch
4. twitter pitch
5. pixar pitch
12
selling the rights for another company to use your brand name
licensing
13
Big 4 media platforms
1. TV
2. radio
3. print
4. social media
14
Promotion mix components
1. advertising
2. sales promotion
3. public relations
4. personal selling
15
Sales process
1. prospecting
2. pre-approach
3. approach
4. making the presentation
5. overcoming objectives
6. closing sale
7. follow up
16
branding a product by itself vs. branding a product with a parent company's name
individual vs. family branding
17
Stages of the product adoption curve
1. innovators
2. early adopters
3. early majority
4. late majority
5. laggards
18
money set aside for an advertising campaign
advertising appropriation
19
four forms that a product can take
product
service
idea
person
20
product life cycle
introduction
growth
maturity
decline represent
21
text of an advertisement
ad copy
22
push vs pull
-pushing the consumer where easily accessible (Costco)
-pulling consumer to product using advertising (consumer initiates)
23
KPI
key performance indicator
24
WOM
word of mouth
25
PR
public relations
26
IMC
integrated marketing communications
27
Low involvement
-unsought products
convenience products (low $)
28
medium involvement
shopping
29
high involvement
specialty
30
Product line vs product mix
category(shoes) vs all categories (shoes & clothes)
31
# of products
width
32
# of products in line
depth
33
brand extension vs line extension
new product vs same category new products
34
legal protection of brand names/ concepts
trademarks
35
allow someone else to use name and making money off it
licensing
36
Product modifications
1. quality
2. function
3. aesthetics
37
FPLA package requirements
1. identity statement
2. net weight
3. ingredients
4. company name and address
38
placing products in movies for advertising
product placement
39
guerilla marketing
word of mouth
40
buzz marketing
around an event
41
viral
online focused
42
appropriation strategies
1. objective and task method
2. percent of sales
3. competition matching
4. arbitrary approach
43
mass marketed, paid promotion
advertising
44
coupons
sales promotion
45
who's selling
personal selling
46
product
service
people
idea
product
47
Discount offered by producers or marketers to distribution channel members (distributors, wholesalers, retailers)
trade allowance
48
sharing of costs for locally placed advertising between a retailer or wholesaler and a manufacturer
cooperative advertising
ex. print ads, radio ads
49
commission paid (as by a manufacturer) to a sales person to push the sale of a particular item or line of merchandise
push money
ex. bonus
50
plan of a commercial or advertisement before it goes into production
storyboard
51
1. identify
2. define
3. create platform
4. determine
5. develop
6. create message
7. execute
8. evaluate
steps developing ad campaign
52
product adoption process
1. awareness
2. intrest
3. evaluation
4. trial
5. adoption
53
the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself
brand equity
54
company focuses on growing and retaining existing customers through incentives
loyalty
55
consumers' ability to recognize a firm from its distinctive logo, motto, or artistic symbol
recognition/ awareness
56
short and striking or memorable phrase
slogan
57
a symbol or other design adopted by an organization to identify its products, uniform, vehicles, etc.
logo
58
unaware or are not that interested in actively pursuing for purchase
unsought
59
A measure of the number of people who express knowledge of a brand or product when prompted (brand recognition)
aided
60
A measure of the number of people who express knowledge of a brand or product without prompting (brand recall)
unaided
61