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marketing
final
| Question | Answer |
|---|---|
| positioning | the process of determining how to differentiate a firm's product offering from those of its competitors in the mind of the consumer |
| positioning strategies | 1. position based on specific product features 2. benefits 3. usage occasion |
| usage occasion | places you go to or things you do or use for different/special occasions |
| position against another product | if you're #1, you do not compare yourself to other companies. you're just legitimizing them. |
| product class dissociation | remove yourself from the product category you're thought to be in. we don't make luxury cars, we make cadallics |
| transitory position | short lived ex: largest cruise ship highest, fastest thrill ride only indoor water park in the Poconos |
| underpositioned | seen as just another company |
| confused positioning | buyers have a confused image of the company |
| repositioning | a deliberate attempt to change a company's image in consumer's mind relative to it's competitors. A&F- rich, white, old men to younger people |
| brand | a product characteristic. name, symbol, design (or combo) intended to identify the services of the company and differentiate from the competitor. |
| brand equity | value of the name/logo |
| goals of branding | brand loyalty minimize price competition |
| image | the impression that prevails in the mind of the public about a particular product or service |
| position | what you do in the mind of the consumer |
| examples | company Position Image Friendlys causal dining ice cream |
| cognitive dissonance (purchaser's anxiety) | buyer's remorse... the difference between what you expect and what you want. |
| dissonance increases: | 1. as the dollar value of the purchase increases 2. as the relative attractiveness of unselected alternates increase. 3. as the importance of the decision increases. |
| dissonance strategies | 1. direct supportive communication to recent purchase 2. compliment client on purchase decision 3. money back guarantee 4. liberal return 5. trial membership |
| promotional mix | advertising, sales promotion, personal selling, publicity, merchandising. |
| print media | newspapers, magazines |
| electronic | tv, radio, internet |
| outdoor | billboards |
| advertising | any paid form of non-personal presentation by an identified sponsor. |
| personal selling | oral presentation in a conversation with one or more perspective purchasers for the purpose of making a sale. |
| publicity | unpaid communication about the business or its product or service in the mass media. |
| sales promotion | short term incentive to encourage purchase or sale of a product or service |
| merchandising (part of purchase advertising) | actions taken to increase sales to customers already in the establishment. |
| personal selling | oral presentation in a conversation with one or more perspective purchaser for the purpose of making a sale |
| sales promotion | short term incentive to encourage purchase or sale of a product or service. |
| publicity | unpaid communication about the business or its product or service in the mass media |
| merchandising (part of purchase advertising) | actions taken to increase sales to customers already in the establishment |
| rifle approach | pinpointing your message to a specific market |
| shotgun approach | opposite of rifle. your message is widespread, not targeted. many outside you target will be exposed. |
| goal of promotion | is to have an individual be familiar with the company before they need them |
| newspaper advantages | 1.short lead-time, time between publisher's deadline and printing of the ad. 2. good coverage of a market 3. paid circulation -if youre paying for it youre going to read it. 4. service |
| disadvantages | 1. read rapidly and discarded- short life 2. readership low for under the age of 30 3. other geographic selectivity, not suitable for reaching specific limited audiences |
| radio advantages | 1. commercials are inexpensive to produce 2. selectivity- reach specific audience 12 mins/hr of commercial 3. flexibility- very short closing time, can change the message almost up to the time it goes on air. 4. trade |
| continued... | 5. personal- can be written so you speak directly to the consumer. |
| limitations | 1. creative limitations- absence of visual image, short lived, fleeting message. 2. limited listener attention 3. cant have an ad just once. do it over and over- saturation |
| 1. short life 2. frequency is important 3. your name should be mentioned frequently 4. use jingles to associate with the commercial. | |
| reach | the number of people that will be exposed to your ad. |
| frequency | the number of times that you expose an individual to your message. |
| magazine features and advantages | 1. high selectivity 2. leisurely reading 3. color- reproduction quality 4. long time 5 coupon and direct response advertising 6. prestige |
| response mechanism AKA hook | useful when trying to measure the effectiveness of an ad. |
| limitations | 1. closing date (30-90 days) before publication (long lead time) 2. not going after the general public |
| outdoor ads | hotels and resorts are among top outdoor ad spenders |
| directional | provides directions for people already headed there. |
| informational | entices people to visit (impulse visit) |
| advantages | creativity |
| PR | orchestrated attempt to develop awareness and appreciation of the rec organization |
| markating | the 4 P's |
| promotion | communicating with your market |
| publicity | free media coverage |
Created by:
jayembee123
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