Term
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Definition
| Personal Selling, Advertising, Publicity, Sales Promotion |
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Term
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Definition
| face to face communication between sellers and potential customers Advantages – immediate feedback which helps salespeople to adapt presentation Disadvantage – very costly |
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Term
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Definition
| is paid mass communication through the various media with an identifiable sponsor Traditional Media-- TV, magazines, radio, billboards, New media -- the internet, faxes, cell phones Advantage – Can reach a large number of people very efficiently Disadvantage – can be costly |
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Term
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Definition
is unpaid mass communication through the various media usually in the form of a news story. in this people are paid
These people try to get free media exposure for firms, people or issues
Examples - Celebrities on Lettermen Show or Channel 13 highlights of Rockets games on their 10 News show
Advantage very inexpensive but difficult to control when message will be sent and who will receive it. |
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Term
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Definition
Any thing other than advertising, publicity or personal selling. Extra incentives to get the consumers to perform
Aimed at the trade – price deals, trade shows, price deals, catalogs, merchandising aids, ad allowances
Aimed at consumers – coupons, contests, displays, samples, point of purchases materials, sponsored events
Aimed at Sales force – bonuses, contests, displays, training materials |
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Term
| Three General promotion objectives are? |
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Definition
| Informing, Persuading, Reminding |
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Term
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Definition
| is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behaviors. |
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Term
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Definition
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Term
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Definition
| develop a favorable set of attitudes so customers will buy and keep buying |
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Term
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Definition
| if target market already has favorable attitudes you want to remind them of product |
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Term
| the communication process |
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Definition
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Term
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Definition
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Term
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Definition
| the source deciding what to say and translating it into words or symbols that convey meaning |
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Term
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Definition
| the carrier of the message |
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Term
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Definition
| any distraction that reduces the effectiveness of the communication process |
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Definition
| the receiver translating the message |
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Definition
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Term
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Definition
| using normal promotion efforts to sell the marketing mix to channel members |
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Definition
| getting customers to ask middlemen for the product, usually because of promotion directed to final consumers or users |
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Term
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Definition
| Shows when different groups accept ideas. It emphasizes the relations among groups and shows that individuals in some groups act as leaders in accepting a new idea. |
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Term
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Definition
1. Innovators –2-5% first to adopt- young and well educated – risk takers
2. Early adopters – 10-15% - opinion leaders tend to be younger- greatest contact with salesmen
Word of Mouth communication – spread information to family and friends
Early Majority 34%– avoid risk and wait to many others have tried it
Late Majority 34% - very cautious about new ideas and are older. Make little use of market dominant information
Laggards –5-6% prefer to do things the way they have in the past. Older and less well educated |
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Term
| How do opinion leaders help in the communication of product information? |
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Definition
| They can help spread positive word to word marketing. Not only that if your product is not good they can be negative as well. |
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Term
| Introduction (Promotion Blend Vary over Product Life Cycle) |
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Definition
| objective is informing Advertising and trade sales promotion |
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Term
| Growth (Promotion Blend Vary over Product Life Cycle) |
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Definition
| emphasis is selective demand advertising and trade sales promotion |
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Term
| Maturity (Promotion Blend Vary over Product Life Cycle) |
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Definition
| advertising and sales promotion as promotions become more persuasive |
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Term
| Decline (Promotion Blend Vary over Product Life Cycle) |
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Definition
| total promotion budges declines but often it depends on market situation |
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Term
| What the major ways to set the promotion budget |
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Definition
Budget based on percent of past or expected sales
most common approach
main advantage is ease
can lead to major problems, including cutbacks when more money is needed
Task method—budgets for what needs to be accomplished
usually the sensible approach
requires that activities be evaluated against objectives |
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