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marketing midterm
| Question | Answer |
|---|---|
| central route of the elaboration likelihood model | deep processing of information, the receiver is very active and an involved participant, high ability and motivation to attend, comprehend, and evaluate messages (I understand politics, I like the politician's message, I'll vote for them) |
| peripheral route of the elaboration likelihood model | superficial processing of information |
| What is the elaboration likelihood model? | The 2 rts that can be taken in persuading people to make a decision. 1 is the centrl rt, where ppl are invlvd/invsted in the core of a msg, the other is the peripheral route where ppl are not cognitively invlvd with a msg but persuaded by peripheral cues |
| how can the influence of a knowledgeable source be reduced? | if audience members think that he or she is biased or has underlying personal motives for advocating a position (such as being paid to endorse a product). |
| What is credibility? | the extent to which the recipient sees the source as having relevant knowledge, skill, or experience and trusts the source to give unbiased, objective information. |
| What is internalization? | when the receiver adopts the opinion of the credible communicator since he or she believes information from this source is accurate. |
| Two things that make up credibility | knowledge/expertise, trustworthiness |
| What makes up source attractiveness? | similarity, familiarity, likeability |
| What is likeability (in regards to source attractiveness)? | an affection for the source as a result of physical appearance, behavior, or other personal traits (physical attractiveness is related to this) |
| What is similarity (in regards to source attractiveness)? | a supposed resemblance between the source and the receiver of the message |
| What is familiarity (in regards to source attractiveness)? | knowledge of the source through exposure |
| What do consumers want from a source regardless of if they aren't a celebrity? | admirable physical appearance, talent, and/or personality. |
| Why are message factors important? | They determine the effectiveness of marketing communications |
| What are some message factors? | order of presentation, conclusion drawing. message sidedness, refutation appeal, verbal vs. visual messages, comparative advertising, fear appeals, humor appeals |
| Why would an ad go for a feal appeal? | to evoke an emotional response and arouse individuals to take steps to remove the threat |
| Example of a fear appeal in advertising | Partnership for a Drug-Free America, stresses physical danger that can occur if behaviors are not altered. |
| What do fear appeals do? | Stress physical danger, disapproval, or social rejection that can occur, in order to discourage or alter certain behaviors |
| Low level of fear means? | There's no motivation |
| What happens if there's too much fear in a fear appeal? | a person won't act (deer in headlights) |
| What is the best level of fear in order to motivate a person to act? | A moderate level |
| What is segmentation? Name some segments | the process of dividing the market up into homogeneous subgroups; demographic, psychographic, behavioristic, and benefit segmentation |
| Benefit segmentation | what do different people want out of this product |
| Demographic segmentation | age, income, ethnicity, religion, etc. they are very powerful in describing the behaviors of people |
| What is psychographic segmentation? | people’s interests, opinions, attitudes, lifestyle variables … didn’t end up being as impactful as some people thought |
| Behavior segmentation | behavior with respect to the product, usage level |
| What do behavior segmentation and benefit segmentation both crossover with? | Demographics |
| Why is behavior segmentation useful? | Often the characteristics of people correlate with what people want in a product |
| What is targeting? | To divide consumers into segments and then tailor marketing strategies towards specific specific segments in order to be as effective as possible for those particular segments |
| What is comparative targeting? | To advertise by saying "use our product instead of our competitor" |
| What is the issue with targeting decisions? | They can be complicated and nuanced |
| What is positioning? | How a brand is thought of in the minds of consumers and how they are distinguished from their competitors |
| Pros of advertising | Broad reach, builds awareness, informs, persuades, builds brand loyalty, image |
| cons of advertising | expensive, not good at closing the deal, hard to reach select groups |
| pros of direct marketing | 2-way communication, customize, personalize, relationship building, narrowcast (can reach select groups) |
| cons of direct marketing | expensive per person, negative perceptions |
| pros of sales promotion | can get people to act right now (close the deal), incentive |
| cons of sales promotion | negative perceptions (negative image), gets people to expect them |
| pros of publicity/sponsorship/product placement | builds image and awareness, no red flag, people don't think they're being marketed to (thus, credibility) |
| cons of publicity/sponsorship/product placement | marketer has limited/little or no control over message |
| Rosser Reeves known for? | Unique selling proposition (USP) and hard sell |
| What is narrowcasting? | where you send an offer to certain people based on their purchase history; selecting who you are gonna talk to |
| What was the advantage that Rosser Reeves had? | He developed advertising in the 1950s, where you couldn’t avoid it because there wasn’t a tv remote and you had to get up to change the channel; You could irritate your way to the minds of consumers back then |
| Rosser Reeves Unique Selling Proposition | If you buy this, you will get this, find something your competitors can't match, what makes you different from competitors and is unique about your product |
| What is a stand-up presenter? | someone speaking directly to you in an ad |
| What is drama advertising? | A little story |
| What did David Ogilvy believe/what was he known for? | Selling is really about emotion. The consumer wants what the object means, t advertising creates meaning with imagery (image advertising) |
| David Ogilvy method | Especially for mundane products, create the story, create the meaning, people want to believe in something, people want to believe in a brand, and that a brand has meaning |
| A client's organization can be organized in what two ways | centralized and decentralized |
| centralized organization | an organization with functional areas/sub departments that do something specific in providing the service or making the product (ex: finance department, marketing department) |
| decentralized organization | organized around brands, also known as brand management organizations, has a brand manager for different brands involved in day-to-day management, package design, social media presence, etc. |
| What’s a key feature of a decentralized organization? | It’s organized around a brand |
| Why is it better to hire an advertising agency than to do advertising in house? | Most companies will not have much advertising to do all-year round, you don't want a bunch of directors sitting around, it's harder to fire people inside your org. than outside, outside agencies worry about losing biz so they’re always high performing |
| What is a full service advertising agency? | An agency that offers a complete package of services including research, survey work, selecting media, planning |
| What is a creative boutique? | A smaller-scale agency that offers less services, but customizes them to specific clients. Specializes in branding, creative projects, advertising, graphic design, and digital marketing |
| What do media buying services/media specialist companies do ? | Buy large blocks of media and sell it to clients at a better price |
| What were some additions to advertising agencies? | social media, media buying, direct marketing |
| What is media buying? | process of purchasing offline or digital media space to run advertisements |
| What did Leo Burnett do? | Created personalities as products, realized that humans can’t connect with frosted flakes, but they can with tony the tiger, spinach ---> the green giant |
| What happened to advertising agencies in the late 1800s? | they began losing the media function because media buying services had better prices |
| What are the 3 ways in which advertising agencies are compensated? | commissions, some type of fee arrangement, or percentage charges |
| What is the traditional method of agency compensation? | commission system, usually 15 percent, from the media on any advertising time or space it purchases for its client. |
| What is a criticism of the traditional method of agency compensation? | it encourages agencies to recommend high-priced media to their clients to increase their commission level |
| What are new approaches to agency compensation? | fixed-fee method, fee—commission combination, cost-plus agreement, Incentive-Based compensation |
| What is the fixed-fee method of compensation? | the agency charges a basic monthly fee for all of its services and credits to the client any media commissions earned |
| What is the fee—commission combination compensation? | the media commissions received by the agency are credited against the fee. If the commissions are less than the agreed-on fee, the client must make up the difference. |
| What is the cost-plus agreement compensation? | when the client agrees to pay the agency a fee based on the costs of its work plus some agreed-on profit margin (often a percentage of total costs) |
| What is the Incentive-Based compensation? | tying ag. comp. to performance, including objt. measures, ex: sales or mrkt share, AND subjt. measures, ex: eval. of the quality of the agency’s crtve work. clients determine agency comp. through media com. , fees, bonuses, or some comb. of these methods |
| elaboration likelihood model |
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lavenderdreamy
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