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Marketing Ch 15/16 Q
| Term | Definition |
|---|---|
| Promotion | communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response |
| Promotional Strategy | a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media |
| Competitive Advantage | one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors |
| What are the four goals of promotion? | Inform the target audience, Persuade the target audience, Remind the target audience, Connect with the audience |
| Promotional Mix | the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, and social media—used to reach the target market and fulfill the organization’s overall goals |
| Advertising | impersonal, one-way mass communication about a product or organization that is paid for by a marketer |
| Public Relations | the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance |
| Publicity | public information about a company, product, service, or issue appearing in the mass media as a news item |
| Sales Promotion | marketing activities—other than personal selling, advertising, and public relations—that stimulate consumer buying and dealer effectiveness |
| Personal Selling | a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other |
| Content Marketing | Content marketing entails developing valuable content for interested audience members, and then using digital means to pull customers to that informative content |
| Social Media | Social media are promotion tools used to facilitate conversations and create engagement and other interactions among people online |
| Paid Media | a category of promotional tactics based on the traditional advertising model, whereby a brand pays for media space |
| AIDA Model | a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action |
| Integrated Marketing Communications | the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every point at which a company has contact with the consumer |
| Factors Affecting Promotional Mix | Nature of the Product, Target Market Characteristics, Type of Buying Decision, Available Funds, Push and Pull Strategy |
| Attention | The advertiser must first gain the attention of the target market because a firm cannot sell something if the market does not know the good or service exists |
| Interest | The next step is to create interest in the product |
| Desire | Potential customers may like the concept of a product, but they must then be persuaded that the product is the best option to fulfill their needs and desires |
| Action | Finally, consumers must be motivated to take action by making a purchase |
| Communication Process | Senders encode messages that are transmitted on a channel to a receiver who decodes the message and provides feedback. Nosie affects the transmission of information |
| Institutional Advertising | a form of advertising designed to enhance a company’s image rather than promote a particular product (maintain a favorable attitude) |
| Product Advertising | a form of advertising that touts the benefits of a specific good or service |
| Pioneering Advertising | a form of advertising designed to stimulate primary demand for a new product or product category (introductory stage) |
| Competitive Advertising | a form of advertising designed to influence demand for a specific brand |
| Comparative Advertising | a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes |
| Advertising Response Function | a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns |
| Media Planning | the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience |
| Newspapers | One of the oldest forms of media, although they have significantly declined in popularity, Advantages include geographic flexibility and timeliness, Disadvantages include distractions from competing ads and news stories |
| Magazines | Cost per contact usually high as compared with the cost of advertising in other media |
| Radio | Advantages include selectivity and audience segmentation, a large out-of-home audience, low unit and production costs, timeliness, and geographic flexibility |
| Television | includes network television, independent stations, cable television, and direct broadcast satellite television, Can reach very broad or highly segmented markets, Can be very expensive, especially for network and popular cable channels |
| Internet | Advertising space for goods and services is widely available on Internet sites and search engines. Programmatic ads allow advertisers to purchase ad space targeting specific groups in real time, thus maximizing reach and return on investment |
| Out-Of-Home Media | Outdoor advertising takes a variety of forms: billboards, skywriting, signs in arenas Ideal for convenience products and services as well as for directing consumers to local businesses Exposure is high, yet amount of clutter from competing ads is low |
| Alternative Media | Includes shopping carts in grocery stores, computer screen savers, interactive kiosks in department stores, advertisements run before movies at the cinema, posters on bathroom stalls, and advertainments |
| Media Mix | the combination of media to be used for a promotional campaign |
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