Term
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Definition
| people paralyzed by the fear that if they waited a little longer or searched harder, they could find what they think they want at the best price |
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Term
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Definition
| given up on making consumer decisions and will put up with whatever works |
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Term
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Definition
| Barry Schwartz; most people don't want more options, they just want what they want |
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Term
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Definition
| commodities--products--services--experiences; fundamental shift in how we experience the world from primarily functional to primarily emotional |
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Term
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Definition
| shifting from passive consumption to active participation; not scripted but delivered on the spot by service providers; finely crafted and precision-engineered as any other product |
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Term
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Definition
| expect to participate in what will be offered to us; we expect the relationship w/ manufacturers to continue beyond the point of purchase |
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Term
| Point of Differentiation (P.O.D.) |
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Definition
| cost less; do something unique from competitors; message strategy |
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Term
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Definition
| how are you like your existing product or competitors; message strategy |
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Term
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Definition
| awareness; attitudes; memory (benefits, image, group norms); action |
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Term
| Integrated Marketing Communications (IMC) |
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Definition
| ads have to send 1 coherent message to it's consumers; more than 1 can cause confusion |
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Term
| Tools of Marketing Communications |
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Definition
1)Media Advertising
2)Direct Response & Interactive Advertising
3) Place Advertising
4) Store Signage & Point of Purchase Advertising
5) Trade and Consumer Oriented Promotions
6) Event Marketing & Sponsorship
7) Marketing-Oriented Public Relations and Publicity
8) Personal Selling |
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Term
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Definition
| using multiple communication tools in conjunction with one another can produce greater results (synergistic effects) than tools used individually and in an uncoordinated fashion |
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Term
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Definition
1) Start with the customer/prospect
2) Use any form of relevant contact or touch point
3) Speak with a single voice
4) build relationships
5) affect behavior |
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Term
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Definition
| marketing communication; the degree to which consumers favorably perceive the brand's features and benefits as compared to competitive brands and how strongly these views are held in memory |
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Term
| Marketing Communications' Objective |
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Definition
| to enhance brand equity by moving customers to favorable action toward the brand-trying it, repeat purchasing it, and becoming loyal toward the brand |
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Term
| Fundamental Marcom Decisions |
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Definition
1) Directed to a specific target market
2) Clearly positioned
3) Created to achieve a specific objective
4) Undertaken within budget constraints |
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Term
| Types of Purchase Behavior |
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Definition
| Routing, Limited, & Extensive Problem Solving |
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Term
| Routing Problem Solving (RPS) |
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Definition
| low risk, high frequency; very little external search, typically low prices, frequently purchased goods (milk, toothpaste, bath soap) |
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Term
| Limited Problem Solving (LPS) |
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Definition
| low risk, low frequency; limited external search and evaluation of alternatives, often when little time or effort to spend (choosing a restaurant, buying a coffee maker) |
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Term
| Extensive Problem Solving (EPS) |
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Definition
| high risk, low frequency; detailed and effortful processing, typically big ticket items (computers, cars) |
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Term
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Definition
| brand attitudes; cognitive (multiattribute) attitudes based on features, benefits, group norms, etc |
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Term
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Definition
| brand attitudes; affective attitudes based on liking for ad, celebrity use, humor, pleasant music, etc |
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Term
| Multi-Attribute Attitude Model (Cognitive Attitudes) |
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Definition
attitude = sum of (beliefs * importance of beliefs)
to change a person's attitudes either influence beliefs, influence importance of beliefs, or add another attribute |
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Term
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Definition
Overall Evaluation (OE) = A + Vm + Vs
Vm = value of benefits
Vs = vallue during shopping
A + Vm = "Brand Equity"
focus on the Vs can lead to short term gains. Not long term since you make less $, have less $ for advertising. Brand equity continues to fall |
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Term
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Definition
| the process of using an established relationship between one stimulus (music) and response (pleasant feelings) to bring about the learning of the same response (pleasant feelings) to a different stimulus (the brand) |
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Term
| Operant Conditioning (instrumental learning) |
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Definition
| involves rewarding desirable behaviors such as brand purchases with a positive outcome that serves to reinforce the behavior |
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Term
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Definition
| if a seconf item is fairly different from the first, we tend to see it as more different than it actually is |
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Term
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Definition
| basing decisions based on another un-related factor prior to the current decision |
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Term
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Definition
1) Segment the market on one or more dimensions (characteristics and behaviors)
2) Decide ont he market coverage strategy (mass/selective/niche)
3) Carry out a further refinement (non users, brand loyals, other brand loyals, switchers)
4) Decide on which refined segment(s) to target |
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Term
| Measurable Consumer Characteristics |
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Definition
| Demographics, Geodemographics, Psychographics, Behaviorgraphics |
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Term
| Behaviorgraphic Targeting |
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Definition
describe how people behave with respect to a particular product category or class of related products
best predictor of future behavior is past behavior |
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Term
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Definition
describe aspects of consumers' psychological make-ups and lifestyles as they relate to buying behavior in a particular product category (attitudes, values, or motivations)
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Term
| Customized Psychographic Profiles |
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Definition
typically customized to the client's specific product category
contain questionnaire items related to the unique characteristics of the product category |
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Term
| General Purpose Psychographic Profiles |
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Definition
| can be purchased as "off-the-shelf" psychographic data from services that develop psychographic profiles of people independently of any particular product or service |
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Term
| VALS Psychographic Segments |
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Definition
Innovators
Thinkers
Believers
Achievers
Strivers
Experiencers
Makers
Survivors |
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Term
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Definition
| consumers who reside within geodemographic clusters such as zip codes or neighborhoods also share demographic and lifestyle similarities (PRIZM NE) |
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Term
| Major Demographic Aspects |
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Definition
1) Age structure of the population
2) Change in household compositions
3) Ethnic population developments |
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Term
DAGMAR Approach and Refinement
(Defining Advertising Goals for Measured Advertising Results) |
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Definition
| Unaware--> Aware--> Comprehension--> Attitude/Conviction (hard to change over time)--> Action (#1 goal) |
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Term
| Positioning Concept (Message Strategy) |
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Definition
1) Point-of-Difference (POD)
2) Point-of-Parity (POP)
3) Combination Strategy
must be clear about the Competitive Fram of Reference (CFR) |
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Term
| Peripheral-Route Advertising |
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Definition
| motivational advertising; focus on generating by using humor, music, etc. to increase consumer interest in the ad |
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Term
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Definition
1) Stopping Power: attention device
2) Transmission Power: information processor
3) Persuasive Power: information processor
4) Locking Power: storage device |
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Term
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Definition
Humore
Warmth
Sex Appeal
Music
Fear Appeals
Use of Celebrities |
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Term
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Definition
| use mordern music playing on airways; always think of the product everytime you hear the song after the ad |
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