Marketing Integration: Chapter 1

Question 1

Exchange

Answer 1

A central concept in marketing. The use of basic marketing activities to create and sustain relationships with customers.

Question 2

Marketing

Answer 2

AMA’s 2007 definition

Marketing is the activity, set of institutions, and process for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.

signals change of marketing from just a one-time exchange into a developing and sustaining relationships.

Question 3

Value

Answer 3

Customer’s perception of all the benefits of a product or service weighed against all the costs of acquiring and consuming it.

Question 4

Marketing Mix

Answer 4

The Four P’s

Price

Promotion

Place

Product

Question 5

Integrated Marketing Communications (IMC)

Answer 5

Involves coordinating the various promotional elements and other marketing activities that communicate with a firm’s customers.

a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuassive brand communications programs over time with cosnumers, customers, prospects, employers, associates and term financial returns and buld long-term brand and shareholder value.

Question 6

The Marketing Revolution’s major characteristics

Answer 6

• Shifting of marketing expenditures from traditional media advertising to other forms of promotion as well as nontraditional media
• The rapid growth of the Internet and social media that is changing the nature of how companies do business and the way they communicate and interact with consumers.
• A shift in marketplace power from manufacturers to retailers
• The growth and development of database marketing
• Demands for greater accountability from advertising agencies and changes in the way agencies and other marketing communication firms are compensated

Question 7

Brand Identity

Answer 7

a combination of many factors including the name,. logo, symbols, design, packaging and performance of a product or service as well as the image or type of associations that come to mind when consumers think of a brand.

Question 8

Promotion

Answer 8

defined as the coordination of all seller-initiated efforts to set up channels of information and persuassion in order to sell goods and services or promote an idea.

Question 9

Promotional mix

Answer 9

The basic tools used to accomplish an organization’s communication objectives.

Advertising, direct marketing, Interactive/internet marketing, Sales promotions, Publicitiy/PR, and Personal Selling

Question 10

Advertising

Answer 10

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

Question 11

Direct Marketing

Answer 11

organizations communicate directly with target customers to generate a response and/or a transaction.

Question 12

Direct Response Advertising

Answer 12

A product is promoted through an ad that encourages the consumer to purchase directly from the manufacturer.

Question 13

Interactive Media

Answer 13

allow for a back and forth flow of information whereby users can participate in and modify the form and content of information they receive in real time.

Question 14

Sales Promotions

Answer 14

marketing activities that provide extra value or incentives to the sales force, the distributors, or the ultimate consumer and can stimulate immediate sales.

Question 15

Consumer oriented sales promotion

Answer 15

targeted to the ultimate user of a product or service and includes couponing, sampling, premiums, rebates, contests, sweepstatkes and various Poin-of-purchase matrials.

Question 16

Trade oriented sales promotion

Answer 16

is targeted towar marketing intermediaries such as wholealers, distributors, and retailers

Question 17

Personal Selling

Answer 17

a form of person-to-person communication in which a seller attempts to assist and/or persuade prospective buyers to purchase the company’s product or service or act on an idea.