Intro to Integrated Marketing Communications (Exam 1)

Question 1

What forms can offerings come in?

Answer 1

physical goods, services, a cause, an idea or even a person

Question 2

What key things are required to create and sustain relationships with customers?

Answer 2

1. two or more parties with something of value to one another
2. a desire and ability to give up that something to the other party
3. a way to communicate with one another

Question 3

What are the 3 typical types of marketing decisions?

Answer 3

1. Product decisions
2. Price decisions
3. Distribution decisions

Question 4

What things must marketers communicate about a product?

Answer 4

• product type
• product attributes/benefits
• brand identity
• brand equity

Question 5

It is important to show both _________ and ___________ of a product, a lot of companies focus too much on just __________ and not enough on the actual __________ to consumers

Answer 5

benefits and features

features, benefits

Question 6

Most consumers make buying decisions based on which products are in their __________ _____

Answer 6

evoked set

Question 7

Marketers are increasingly focusing on sharing ___________

Answer 7

feelings

Question 8

A few newer techniques that marketers are using include:

Answer 8

• sounds
• storylines
• dead space

Question 9

What is dead space in marketing?

Answer 9

Sometimes with the amount of media consumers are flooded with nowadays ads that are more minimalistic or include more open/dead space stand out more (e.g. Apple)

Question 10

What ads were used as an example of using emotion as a marketing tool?

Answer 10

Trivago vs. Expedia ads

Trivago: just a man speaking with a stark white background, good information conveyed but not much emotion evoked

Expedia: evoked emotion through the storyline of a father wanting to show his son the ocean, didn’t necessarily show all the functions and benefits of the product but the emotional side is so powerful it creates more of a lasting memory of the ad

Question 11

Marketing communications work hard to present their brands and their identification in what?

Answer 11

Situations that will allow the consumer to view the brand positively

e.g. Absolut vodka and pools

Question 12

Marketers need to view their offerings from what perspective?

Answer 12

customer centric

Question 13

What are some examples used in class of brands that have good marketing communication but some of their other P’s are off and therefor their brand has suffered?

Answer 13

1. Cadillac: lost its status as being a luxury car brand
2. Edmonton Elks: their marketing communications are good but their product offering is not good (the team keeps losing so people are less likely to buy tickets)

Question 14

What was the brand that was used as an example of having a strong brand identity and being able to “low the risk” to consumers at the point of purchase?

Answer 14

Kit Kat, because the brand already occupies a space in our minds

Question 15

What fast food company was used as an example of being reliable and “low risk” to consumers?

Answer 15

McDonalds

If you fly to a new place and are in a rush to find food many people with gravitate to something they recognize and feel comfortable with

Question 16

Sometimes a brand is so strong that they associate the whole category with the brand. What are some examples of this? What is a possible disadvantage to this?

Answer 16

e.g. Coke, Kleenex, Band-Aid

If competitors offer a lower quality product that can be associated with the brand that is associated with the whole category instead of the actual secondary brand, so these category brands often have to defend themselves more to maintain their status

Question 17

What two brands were used as examples of being ahead of the game for using sensory marketing?

Answer 17

1. Intel (chips & software): most people have no idea what the brand does for them but they can recognize it by its distinct sound
2. Mastercard: realized more and more people were using digital cards and were viewing the physical brand less, so they introduced a sonic identity/logo that their brand could be identified with

Question 18

What is Brand Equity?

Answer 18

level of recall, extension of feelings towards the brand, intangible asset of value or goodwill

e.g. McDonalds

Question 19

What is Goodwill?

Answer 19

a measure of all the intangible assets a company has, mostly associated with brand or brand equity

Question 20

If you don’t have a relationship with your customers it can be hard for a company to increase what?

Answer 20

Prices

• therefore during periods of inflation, companies without strong customer relationships often resort to decreasing their profit margin instead

Question 21

What companies are the valuators of brands global value?

Answer 21

Forbes, Kantar BrandZ and Interbrand

Question 22

What are the top 5 global brands as evaluated by Kantar BrandZ?

Answer 22

1. Apple
2. Google
3. Microsoft
4. Amazon
5. McDonald’s

Question 23

What do marketers do to communicate distribution?

Answer 23

provide information as to where a product can be purchased or what kinds of service might be available in various locations

Question 24

What brands were mentioned as being the most valuable Canadian brands?

Answer 24

• TD Bank
• Circle K
• Bell
• Telus

Question 25

When people are financially invested they want a _________, when people are emotionally invested they want to ___________

Answer 25

return, contribute

Question 26

What are the 6 tools of the Promotional Mix?

Answer 26

1. Advertising 2. Direct Marketing 3. Internet Marketing 4. Sales Promotion 5. Public Relations 6. Personal Selling

Question 27

What are some advantages of ADVERTISING?

Answer 27

- one of the main tools for creating and maintaining brand identity - cost efficient: one ad can reach very large audiences - flexible tool (comes in many different forms) - useful in B2B and B2C - BIGGEST ADVANTAGE: the organization has the ability to control the message

Question 28

What are some disadvantages of ADVERTISING?

Answer 28

- hard to track the effectiveness (lag effect) - messages can be seen as dumb, confusing or problematic so organizations have to be careful who is watching - BIGGEST DISADVANTAGE: too much advertising is making consumers overwhelmed

Question 29

What are some advantages of DIRECT MARKETING?

Answer 29

- consumers can see value in being targeting with solutions to things they actually need - budget optimization - can target specific audiences (customized messaging) - easier to assess the effectiveness

Question 30

What are some disadvantages of DIRECT MARKETING?

Answer 30

- consumers don't like unsolicited communication - image problems

Question 31

What are some advantages of SALES PROMOTION?

Answer 31

- provides consumers with incentives to take action - appeals to price sensitive segments - generates extra interest ("limited time offer") - effects can be measured - can help build relationships

Question 32

What are some disadvantages of SALES PROMOTION?

Answer 32

- companies become reliant on promotions, in the long run this undermines the development of relationships and customer loyalty - leads to short term planning, customers expect constant promotions - erodes brand equity in the long run - adds to information clutter and may annoy consumers - can lead to promotion wars with competitors and drive down profit margins