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MKTG CH16
MKTG CH16
44
Marketing
Undergraduate 4
04/14/2013

Additional Marketing Flashcards

 


 

Cards

Term
PROMOTIONAL STRATEGY
Definition
plan for the optimal use of the elements of promotion, advertising, public relations, personal selling, sales promotion, and social media
Term
competitive advantage
Definition
set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition
Term
promotion
Definition
communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.
Term
communication
Definition
process by which meanings are exchanged or shared through a common set of symbols
Term
Communication divided into 2 categories
Definition
interpersonal communication
mass communication
Term
interpersonal communication
Definition
direct face-to-face communication between 2 or more people. people see each other and respond immediately
Term
mass communication
Definition
communicating a concept or message to large audiences.
Term
Marketers are both
Definition
senders and receivers of messages
Term
sender
Definition
the originator of the message in the communication process
Term
encoding
Definition
the conversation of a senders ideas and thoughts into a message, usually in the form of words or signs
Term
Transmission can be hindered by
Definition
noise
situational factors
Term
Common understanding is required
Definition
between two communicators or a common frame of reference
Term
Why wouldn't a message be decoded properly?
Definition
because of the selective exposure
distortion
retention
Term
feedback
Definition
interpersonal communication
verbal or nonverbal
Term
Indirect feedback
Definition
enables mass communicators to decide whether to continue, modify, drop a message
Term
Internet and social media are used
Definition
for feedback, positive or negative, and is unfiltered, personalize feedback
Term
informing
Definition
seeks to convert an existing need into a want or to stimulate interest in anew product
Term
the new products cannot establish itself against more mature products ___
Definition
unless potential buyers are:
aware of it
value its benefits
understand its positioning in the marketplace
Term
informative messages are for promoting
Definition
automobiles
computers
investments
Term
persuading
Definition
designed to stimulate a purchase or an action
Term
persuading is used in the
Definition
growth stage
Term
informative is used in the
Definition
early stages of the product life cycle
Term
by the time the persuading stage is established
Definition
general product awareness and some knowledge of how the product can fulfill its wants
Term
reminding promotion
Definition
used to keep the product and brand name in the publics mind
Term
reminding is in the
Definition
maturity stage of the plc
Term
promotional mix
Definition
advertising
public relations
sales promotion
personal selling
social media
Term
proper promotional mix
Definition
the one that management believes will meet the needs of the target market and fulfill the organization's overall goals.
Term
advertising
Definition
any form of impersonal paid communication in which the sponsor or company is identified
Term
primary benefits of advertising is
Definition
reaching and able to communicate to a large number of people at one time
Term
cost per contact is
total cost to advertise is
Definition
low
high
Term
public relations
Definition
marketing function that evaluates:
public attitudes
identify areas within an organization the public may be interested in
executes a program of action to earn public understanding and acceptance
Term
How do marketers use public relations?
Definition
maintain a public image, but also to educate the public about the company's goals and objectives
introduce new products
help support the sales effort
Term
publicity
Definition
public information about:
company
product
service
issue appearing in the mass media as a news item
Term
publicity is not
Definition
free
Term
sales promotion
Definition
consist of all marketing activities other than personal selling, advertising, and public relations that stimulate consumer purchasing and dealer effectiveness
Term
personal selling
Definition
purchase situation involving a personal, paid for communication between 2 people in an attempt to influence each other
Term
relationship selling
Definition
emphasizes win-win outcome and the accomplishment of mutual objectives that benefit both buyer and salesperson, in the long term
Term
IMC
Integrated Marketing Communications
Definition
careful coordination of all promotional messages, traditional advertising, direct marketing, social media, interactive, public relations, sales promotion, personal selling, event marketing and other communications for a product or service to assure the consistency of messages at every contact point where a company meets the consumer.
Term
IMC carefully works out the
Definition
roles that various promotional elements will play in the marketing mix
Term
most common rift is typically occurs between
Definition
personal selling and other elements of the promotional mix
Term
IMC has grown in popularity because
Definition
proliferation of media choices
promotional messages
slashed advertising spending
Term
factors affecting the promotional mix
Definition
nature of the product
stage in the life cycle
target market characteristics
type of buying decision
funds available for promotion
push-pull strategy
Term
push strategy
Definition
marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchnadise
Term
pull strategy
Definition
a marketing strategy that stimulates consumer demand to obtain product distribution
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