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Princ. of Marketing

Kotler, Armstrong, Principles of Marketing 11th ed, Ch 14 vocab

Marketing communications mix (promotion mix) The specific mix of advertising, personal selling, sales promotion, and public relations a company uses
Advertising Any paid form of nonpersonal 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
Public relations 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
Personal selling Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships
Direct marketing Direct communications with carefully targeted individual consumers—the use of telephone, mail, fax, email, the internet, and other tools to communicate directly with specific consumers
Integrated marketing communications (IMC) The concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products
Buyer-readiness stages The stages consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction, and purchase
Personal communication channels Channels through which two or more people communicate directly with each other, including face to face, person to audience, over the telephone, or through the mail
Word-of-mouth communication Personal communication about a product between target buyers and neighbors, friends, family members, and associates
Buzz marketing Cultivating opinion leaders and getting them to spread information about a product or service to others in their communities
Nonpersonal communication channels Media that carry messages without personal contact or feedback, including major media, atmospheres, and events
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 competitors’ outlays
Objective-and-task method Developing the promotion budget by 1) defining specific objectives, 2) determining the tasks that must be performed to achieve these objectives, and 3) estimating the costs of performing these tasks
Push strategy A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to wholesalers, the wholesalers promote to retailers, and the retailers promote to consumers
Pull strategy A promotion strategy that spends a lot on advertising and promotion to build up consumer demand. If successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers.
Created by: cannons