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Flashcards in Test 4 Deck (32):
1

Comparative advertising

Comparing your brand to another and showing why yours is better

2

Institutional advertising

This is used to create and organizational image. For example, it can show employee friendliness. It is not used to target customers but instead create and image for the company

3

Reinforcement advertising

Targets customers who already have their product, but want to remind them that they have made the right decision. (Geico 15%)

4

Advertising platform

This consists of the basic issues or selling points that are to be used during the advertising

5

Advertising appropriation

This is the total amount of money that is used on advertising.

6

public relations

Communication efforts used to create and maintain favorable relations between and organization and its stakeholders

7

Continuous media schedule

Advertising runs at a constant level throughout the campaign

8

Flighting

Advertisements run in increments where for a while it runs a lot, followed by a break in the advertising for a while

9

Pulsing

combines fighting and continuous: during the entire campaign, just a portion of advertising runs continuously

10

Stage 1 of the ad campaign:

The target audience

11

The needs of a prospect

Without a prospect, you will not be able to sell what you want.

12

Sterotypes of sales people

x

13

Prospecting

This often involves engaging at trade shows, which allows the salepeople to find who they might want to target later on during the approach selling process

14

The approach

This part of the selling process involves gathering information about byers needs and objectives. In addition, building rapport and a favorable impression are important

15

Sales Presentation

During this step, the salesperson needs to attract and hold the prospects ttention. Some keys to the presenation is letting the customer hold and test the product

16

The close

the sales person can use several techniques, but an important one is to try to get to the problem and ask the question of why they wont

17

cost of attaining a new customer vs gaining a new one

x

18

Price

The value paid for a product in a marketing exchange

19

Price competition

a marketer emphasizes price as an issue and matches or beats competitors prices `

20

Price relative to the marketing mix

x

21

Price interpretation

refers to what the price means or is communicated to customers

22

Internal and external price reference

Internal: What the product is worth to a person who frequently buys the product
External: A price used to compare to customers

23

Price and quality

The higher the price, the higher the quality

24

Elastic demand

A measure of sensitivity to change in price

25

Integrated Marketing communications

The goal is to maximize informational and persuasive impact on customers

26

Communication

A sharing of meaning through the transmission of information

27

decoding process

Converting sign or symbols into concepts and ideas

28

Noise

Anything that reduces a communications clarity and accuracy

29

Communication Channel

The medium of transmission that carries the coded message from the source to the receiver

30

Channel Capacity

The limit on the volume of information a communication can handle effectively

31

Source

Where the information is coming from

32

The role of promotion

This is communication that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization positively and accept its products