Marketing Ch.17 Flashcards Preview

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Flashcards in Marketing Ch.17 Deck (32):
1

Communication

process of conveying a message to others

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Six elements of communication

source,message, channel of comm., reciever, endcoding/decoding

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Field of expereince

a similar understanding and knowledge they apply to a message

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response

the impact the message had

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feedback

the senders interpretation of the response and indicates whether the message was decoded as intended

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Noise

extraneous factors that work against effective communications by distorting a message or the feedback . Ex. Printing mistake, misunderstanding of language

7

Advertising

any paid form of nonpersonal communication about an organization, product, service or idea by an identified sponsor

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personal selling

the two way flow of communications between a buyer and seller designed to influence a person's or group's purchase decision. Usually face to face. No wasted coverage. Less consistent

9

PR

the form of communication management that seeks to influence the feelings/opinions held by customers, prospective customers, suppliers, stock holders, the general public

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Publicity

nonpersonal, indirectly paid presentation of an organization, product, or service ex. New story, editorial, product announcment

Adv- credibilit
disadv- lack of control

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sales promotion

short term inducement of value offered to arouse interest in buing a product or service...Coupons, rebates, samples, contests, sweepstakes.

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direct marketing

uses direct communication with consumers to generate a response in the form of an order, a request for further info or a visit to a retail outlet. Forms: catalogs, direct mail, telephone.

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introduct stage

primary objective: to inform consumers in a n effort to increase their level of awareness. all promotional mix used

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Growth stage

persuade consumers to but theproduct rather than the substitutes. Sales promotion= less important. Advertising is ++ important

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Maturity stage

need to maintain existing buyers and advertising role is to remind buyers of the products existances. Sales promotions: coupons. Direct Marketing

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Complexity

technical sophistication of the product. The amount of understanding to use it. The more complex, the greater emphasis on personal selling.

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risk

financial risk, social risk, physical risk. The greater the risk, the greater the need for personal selling.

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ancillary servcies

pretain to the degree of service or support required after the sale. Personal selling essential to build byer confidence of customer service

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prepurchase stage

advertising is more helpful than personal. Advertising informs the potential customer of the existence of the product and the seller. Sales promotions: free samples to gain low risk trial.

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purchase stage

personal selling is most important, sales promotion in coupons, rebates can help. Advertising is least helpful.

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post purchase stage

salesperson is still important, the more personal contact after the sale the more satisfied the buyer. Advertising is important to reassure the buyer made the righ decision.

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push strategy

directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product. Idea is- by pushing the product through the channel the goal is to get channel members to push it to their customers

23

pull strategy

manufacturers face resistance from channel members who don’t want to order a new product or increase levels. So they direct their promotional mix at ultimate consumers to encourage them to ask retailer for a product.

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behavioral targeting

collecting info about web browsing behavior to determine the banner and display ads you will see.

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heirarchy of effects

sequence of stages a prospective buyer goes through from intitial awareness of a product to eventual action:

awareness->interest->evaluation->adoption

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promotion budget: as percent of sales

funds are allocated to promotion as percentage of past or anticipated sales in terms of either dollars or units sold. Downside: lower sales shouldn’t always mean lower promotion

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promotion budget: competitve parity

- is matching the competitors absolute level of spending or the proportion per point of market share.

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promotion budget: all you can afford

money allocated to promtion only after all other budget items are covered,

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promotion budget: objective and task

Best approach. Company determines its promotion objectives, outlines the tasks it will undertake to accomplish those objective and determines the promotion cost of preforming those tasks.

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Direct Orders

the result of offers that contain all the info necessary for a prospective buyer to make a decision to purchase and compete the transaction

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lead generation

the result of an offer designed to generate interest in a product or service and a request for additional information

32

traffic generation

the outcome of an offer deisnged to motivate people to visit a business