Term
| Four Key Tactical Decisions of the Marketing Mix |
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Definition
| Product, Price, Communication (promotion), Distribution (place) |
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Term
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Definition
| Helps define form. Place, time, or possession utility in customers' minds. |
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Term
| Communication through four venues... |
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Definition
| Advertising, Personal selling, Sales promotion, and Publicity/sponsorship |
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Term
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Definition
| Advertising, Sales promotion, personal selling, Publicity/sponsorship |
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Term
| The Purpose of a Communication strategy |
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Definition
| is to effectively deliver desired meanings to potential consumers, to understand what relationship formation tasks are required and assign some method of communication to accomplish that task, and finally to ensure messages sent directly are consistent with messages sent indirectly |
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Term
| Integrated Marketing Concept (IMC) |
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Definition
| blending/mixing of advertising, personal selling, sales promotion, publicity, and sponsorship |
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Term
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Definition
| Environmental factors, Communication Objectives, IMC plan, Communication process |
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Term
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Definition
| defines the specific actions that must be taken or provisions that must be given to create time, place, form, or possession utility to create the necessary value for the customer and CLOSE the sale |
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Term
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Definition
| to inform, remind, persuade, or reinforce some message |
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Term
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Definition
| control, build equity, cost per contact low, versatile, good access, and availability |
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Term
| Advertising Disadvantages |
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Definition
| poor focus, avoidance, one way, high total costs |
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Term
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Definition
| objectives, budget, message, media selection, measure results |
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Term
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Definition
| to identify and select the specific 'sales goal' and 'selling task' the advertisement needs to accomplish |
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Term
| Options for Advertising Objectives |
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Definition
| inform, persuade, differentiate, remind, reinforce |
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Term
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Definition
| specifies wording, sender, format, structure, and argument type |
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Term
| Publicity/Sponsorship Role |
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Definition
| deliver corporate level messages and establish credibility |
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Term
| Publicity/Sponsorship Advantages |
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Definition
| credibility, image creation, and getting and holding attention |
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Term
| Publicity/Sponsorship Disadvantages |
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Definition
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Term
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Definition
| objectives, budget, select methods and implement, and measure results |
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Term
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Definition
| create 'positive images' to firm or product; or to lend 'credibility' the firm's messages |
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Term
| Options for Publicity Objectives |
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Definition
| PR event, Press release, Sponsorship, Corporate identification materials, Web sites |
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Term
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Definition
| encourage trial stimulate interest or demand, or motivate immediate action |
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Term
| Sales Promotion Advantages |
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Definition
| immediacy, the extent it can be targeted, and it builds or breaks relationships and habits |
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Term
| Sales Promotion Disadvantages |
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Definition
| limited long term effect, and acclimation |
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Term
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Definition
| distribute and acquire information, negotiate, persuade, and provide service |
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Term
| Personal Selling Advantages |
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Definition
| 2-way communication, immediate reaction, ability to build relationship, and effectiveness per contact |
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Term
| Personal Selling Disadvantages |
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Definition
| cost per contact, and the limited number of people that can be contacted |
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Term
| Personal Selling Objectives |
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Definition
| identify specific 'selling tasks' that the personal selling activity needs to accomplish for establishing a 2-way communication to identify and solve problems, and build personal relationships that lead to customer satisfaction and firm profits |
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Term
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Definition
| impacts possession utility directly, but also communicates information about form, time, and place utilities |
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Term
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Definition
| specify the overall IMPACT the price of the product or service will have on the firm's STRATEGIC OBJECTIVES and positioning |
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Term
| Pricing Objective Decision Options |
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Definition
| profit, volume, competitive, relationship |
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Term
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Definition
| specifies the discipline or THEORETICAL BASE that will be used to actually calculate the specific price that will be assigned to a product or service |
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Term
| Price Orientation Cost Options |
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Definition
| cost based (value calculated at end), demand based (value not calculated), value based (value calculated at beginning) |
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Term
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Definition
| specify how prices will be generally initiated and managed/changed over the life of the product |
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Term
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Definition
| Skimming, Penetration, Competitive |
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