Marketing II Flashcards
(45 cards)
What is a promotion?
The function of informing, persuading, and influencing a purchase decision.
What are the 3 customer-focused promotional strategies?
- Highlight product value
- Differentiate product
- Provide information
What are the 2 firm-focused promotional strategies?
- Increasing sales
- Stabilize sales
What is a Promotional mix?
The combination of personal and non-personal selling that marketers use to meet the needs of a firm’s target customers and to effectively and efficiently communicate its message to them
What is Personal selling?
The most basic form of promotion: a direct person-to-person promotional presentation to a potential buyer
What is Non-personal selling?
Forms of selling such as advertising, sales promotion, direct marketing, and public relations
What is Pushing strategy?
Promotion of a product to wholesalers and retailers in a company’s distribution channels
• Companies promote the product to members of the marketing channel, not to end users.
What is Pulling strategy
Promotion of a product by generating consumer demand for it, mainly through advertising and sales promotion appeals
• Potential buyers will request that retailers or local distributors carry the product, thereby pulling it through the distribution channel.
What do Most marketing promotional strategies require?
A combination of push and pull strategies
What is Cooperative advertising?
Allowances that marketers provide to share with channel partners the cost of local advertising of their firm’s product or product line
What are the 5 elements of the promotional mix?
- Advertising
- Personal selling
- Sales promotion
- Public relations
- Sponsorships
What are the (3) advantages and (2) disadvantages of Advertising?
Advantages:
- Reaches large consumer audience at a low cost per contact
- Allows strong control of message
- Message can be modified to suit different audiences
Disadvantages:
- Difficult to measure effectiveness
- Limited value for closing sales
What are the (3) advantages and (2) disadvantages of Personal selling?
Advantages:
- Message can be tailored for each customer
- Produces immediate buyer response
- Effectiveness is easily measured
Disadvantages:
- High cost per contact
- High expense and difficulty of attracting and retaining effective salespeople
What are the (3) advantages and (2) disadvantages of Sales promotion?
Advantages:
- Attracts attention and creates awareness
- Effectiveness is easily measured
- Produces increases in short-term sales
Disadvantages:
- Difficult to differentiate from similar programs of competitors
- Nonpersonal appeal
What are the (2) advantages and (2) disadvantages of Public relations?
Advantages:
- Improves trust in a product or firm
- Creates a positive attitude about the product or company
Disadvantages:
- Difficult to measure effectiveness
- Often devoted to nonmarketing activities
What are the (2) advantages and (1) disadvantage of Sponsorships?
Advantages:
- Viewed positively by consumers
- Enhances brand awareness
Disadvantages:
-Difficult to control message
What are the 6 types of advertising?
- Product advertising
- Institutional advertising
- Informative advertising
- Persuasive advertising
- Comparative advertising
- Reminder-oriented advertising
What is Product advertising?
Messages designed to sell a particular good or service
What is Institutional advertising?
Messages that promote concepts, ideas, or philosophies. It can also promote goodwill toward industries, companies, organizations, or government entities
What is Cause advertising?
A form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the political process
What is Informative advertising used for?
Informative advertising is used to build initial
demand for a product in its introductory phase
What does Persuasive advertising attempt to do?
Persuasive advertising attempts to improve the competitive status of a product, institution, or concept, usually in its growth and maturity stages.
What is Comparative advertising used for?
Comparative advertising compares products directly with their competitors, either by name or by inference.
What is Reminder-oriented advertising used for?
Reminder-oriented advertising maintains awareness of the importance and usefulness of a product in its late maturity or decline stages.
