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Flashcards in Midterm Deck (41)
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1

Situation analysis

The situation analysis should be thought of as an unbiased assessment of what’s happening now. It is a fact-finding mission.

2

marketing concept

the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition

3

four Ps

Product, Price, Place, Promotion

4

ad research

a specialized form of marketing research conducted to improve the efficiency of advertising

5

ethnography

the scientific description of the customs of individual peoples and cultures

6

SWOT analysis

strengths, weaknesses, opportunities, threats

7

primary research

Info you construct yourself (surveys, focus groups, etc.)

8

secondary research

Info that has been previously gathered by others. Always start with first to see if what you need is already available.

9

features

surface statements about your product. capabilities and explanation of what product does

10

benefits

how this product can help you and make your life better

11

integrated marketing communication

Tools: PR, Advertising, Sales Promotion, Direct Marketing, Interactive Marketing, Personal Selling
Speaking to the consumers with a consistent voice

12

demographics

age, gender, income, education, marital status, occupation

13

psychographics

lifestyles, product usage, media usage

14

quantitative research

Broader, numerical info that is statistically reliable and projectable

15

qualitative research

In-depth, non-numeric info. Consumer's attitudes, feelings, beliefs. Attempts to find out why.

16

problems/opportunities

bridge from your situation analysis to your objectives and strategies.

17

elements of good objectives

measurable, realistic, timely

18

marketing communication strategy

the "promotion" part of the "marketing mix" or the "four Ps": price, place, promotion, and product. It can also refer to the strategy used by a company or individual to reach their target market through various types of communication

19

positioning

An effort to influence consumer perception of a brand or product relative to the perception of competing brands or products. Its objective is to occupy a clear, unique, and advantageous position in the consumer's mind.

20

branding

Found a need and made a promise to consumers.
A brand is a collection of perceptions in the mind of the consumer.

21

brand equity

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

22

segmentation approaches

aimed marketing to target specific segments of an overall market using demographics and psychographics

23

relationship marketing

a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales

24

media objectives

reach, frequency, gross impressions, GRPs(Gross Rating Point) TRPs(Television rating point), etc.

25

media strategy

Plan of attack, how to accomplish your objectives.

26

media tactics

Actual executions, making the plan come to life.

27

creative strategy

explains how the advertising campaign will meet the advertising objectives of the business

28

strategic focal point

key message

29

physical/psychological continuity

physical: something in each ad that leaves a similar impression (slogan, tagline, trade characters)
psychological: unify the way people think about their advertising (similar theme, image, tone or attitude)

30

preemptive claim

making something unique to your brand that is inherently ubiquitous to the category