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mgmt 323 ch 12
ch 12
| Term | Definition |
|---|---|
| Promotion Mix (Marketing Communications Mix) | the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships |
| Advertising | any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor |
| Sales Promotion | short term incentives to encourage the purchase or sale of a product or service |
| Personal Selling | personal representation by the firm’s sales force for the purpose of making sales and building customer relationships |
| Public Relations (PR) | building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events |
| Direct Marketing | direct connections with carefully targeted individual consumers to both obtain and immediate response and cultivate lasting customer relationships |
| Integrated Marketing Communications | carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its products |
| Push Strategy | a promotion strategy in which the sales force and trade promotion are used to push the product through channels, the producer promises the product to channel members who in turn promote it to final customers |
| Pull Strategy | a promotion strategy in which a company spends a lot of money on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that pulls the product through the channel |
| Advertising Objective | a specific communication task to be accomplished with a specific target audience during a specific period of time |
| Advertising Budget | the dollars and other resources allocated to a product or company advertising program |
| Affordable method | setting the promotion budget at the level management thinks the company can afford |
| Percentage of sales method | setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price |
| Competitive parity method | setting the promotion budget to match competitor’s outlays |
| Objective and task method | sum of 1) defining specific objectives 2) determining the tasks that must be performed to achieve these objectives 3) estimating the costs of performing these tasks |
| Advertising strategy | the plan by which the company accomplishes its advertising objectives, it consists of two major elements: creating advertising messages and selecting advertising media |
| Madison & Vine | a term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching consumers with more engaging messages |
| Creative concept | the compelling big idea that will bring the advertising message strategy to life in a distinctive and memorable way |
| Execution styles | the approach, style, tone, words, and format used for executing an advertising campaign. - Slice of life - Lifestyle - Fantasy - Mood/Image |
| Advertising Media | vehicles through which advertising messages are delivered to their intended audiences |
| Return on advertising investment | net return on advertising investment divided by the costs of the advertising investment |
| Advertising Agency | marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs |
Created by:
Keagan28