Term
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Definition
Objective: optimize sales and profits of a category ketchup |
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Term
Long Term objective communication program |
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Definition
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Term
Short Term Objectives communication program |
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Definition
Increase Traffic Increase Sales |
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Term
Brands: Value to Retailers |
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Definition
Brand Loyalty Attract Customers Reduce Promotional expenses Eases entry in New Markets Higher prices lead to greater ROI |
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Term
Brands: Value to Customers |
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Definition
Promise of Quality Simplifies buying process Reduces info search about retailers |
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Term
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Definition
Heighten Brand Awareness Develop Favorable Associations Consistent Reinforcement Create Emotional Connections |
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Term
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Definition
Aided Recall *stimulates visits with mind awareness |
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Term
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Definition
Memorable Name Symbols Event Sponsorship Repeated Exposure |
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Term
| Associations with Brand Name |
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Definition
Merchandise Category: Office Depot - Office Supplies Price Quality: Neiman Marcus - High End Fashion Specific Attribute: 7 Eleven - Convenience Lifestyle/Activity: Electronic Boutique - Computer games |
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Term
| Integrated Marketing Communications |
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Definition
| Consistent Brand Image through all marketing channels |
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Term
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Definition
Objectives: 1) Inform 2) Persuade 3) Remind *Sales Promo * PR *Advertising *Atmosphere *Salespeople |
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Term
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Definition
Special Sales Merchandise Demonstrations Coupons Premiums Sweepstakes & contests |
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Term
| Steps to Develop Retail Communication Program |
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Definition
1) Establish Objectives 2) Determine Budget 3) Allocate Budget 4) Implement/Evaluate Program |
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Term
| Customer Relations Management |
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Definition
A business philosophy & set of strategies, programs, and systems Focus on identifying & building loyalty with most valuable customers |
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Term
| Information of each customer within CRM |
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Definition
History of Purchases Preferences Descriptive Info responses to promotions Customer Contacts by retailer (touch points) |
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Term
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Definition
•Estimating Lifetime Value •Based on assumptions that the customer’s future purchase behaviors will be the same as they have been in the past Classify Customers: Recency, Frequency, Value of purchase • |
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