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Chapter 18 MKTG 250
| Question | Answer |
|---|---|
| Traffic Generation | the outcome of a direct marketing offer designed to motivate people to visit a business. |
| Lead Generation | the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information. |
| Direct orders | the result of a direct marketing offer that contains all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction.` |
| Obective and Task Budgeting | involves allocating funds to promotion whereby the company: (1) determines its promotion objectives; (2) outlines the tasks to accomplish these objectives; and (3) determines the promotion cost of performing these tasks. |
| All-you-can-afford budgetin | involves allocating funds to promotion only after all other budget items are covered. |
| Competive parity budgeting | involves allocating funds to promotion by matching the competitor’s absolute level of spending or the proportion per point of market share. Also called matching competitors or share of market |
| Percentage of sales budgeting | involves allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold. |
| Heirarchy of affects | the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action that includes awareness, interest, evaluation, trial, and adoption. |
| Pull strategy | involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product. |
| Push strategy | involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product. |
| Direct marketing | (customized)a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. |
| Sales Promotion | (mass) short-term inducement of value offered to arouse interest in buying a product or service. |
| Publicity | is a nonpersonal, indirectly paid presentation of an organization, product, or service. |
| Public relations | (mass)a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other public about a company and its products or services. |
| Personal selling | (customized)consists of the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision. |
| Advertising | (mass)any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. |
| Noise | consists of extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process. |
| Feedback | in the feedback loop, is the sender’s interpretation of the response, which indicates whether a message was decoded and understood as intended during the communication process. |
| Response | in the feedback loop, is the impact the message had on the receiver’s knowledge, attitudes, or behaviors during the communication process. |
| Field of experience | is a mutually shared understanding and knowledge that the sender and receiver apply to a message so that it can be communicated effectively during the communication process. |
| Decoding | is the process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process |
| Encoding | is the process of having the sender transform an idea into a set of symbols during the communication process. |
| Recievers | consist of consumers who read, hear, or see the message sent by a source during the communication process. |
| Channel of communication | is the means (e.g., a salesperson, advertising media, or public relations tools) of conveying a message to a receiver during the communication process. |
| Message | consists of the information sent by a source to a receiver during the communication process. |
| Source | is a company or person who has information to convey during the communication process. |
| Communication | is the process of conveying a message to others that requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding. |
| Integrated Marketing Communications (IMC) | is the concept of designing marketing communications programs that coordinate all promotional activities—advertising, personal selling, sales promotion, public relations, and direct marketing—to provide a consistent message across all audiences. |
| Promotional mix | is the combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them to try it, and (3) remind them later about the benefits they enjoyed by using the product. |
| Complexity | Technical sophistication of the product. |
| Risk | Financial, social, physical risks. |
| Ancillary | Degree of service or support required after the sale |
| 18.4 | 1 personal selling/sales promotion peaks in purchase 2 advertsing is best for pre and post purchase 3 public relations continues to decline 4 advertising is most important in prepurchase |
| Stages of buying | Prepurchase stage: • Advertising to inform customer. 2. Purchase stage: • Personal selling, sales promotion, social media to reach final decision. 3. Postpurchase stage: • Personal contact after the sale increases satisfaction. |
| Developing promotional mix from lifecycle stage | 1. intor - inform; publicity in magazines, advertize,sales promotions (free samples) 2. growth- persuade; personal selling, advertising for differences 3. maturity- remind; advertise to remind, sales promotion in discounts, limited personal selling 4 declined- phase out; little advertisement |
| four W's | 1 who is the target 2what are the objectives,budget, kinds of promtion 3 where shoud the promotion be run 4 when should promotion be run |
| Specific heirarchy of effects | Awareness—Recognize/remember brand. • Interest—Learn about product. • Evaluation—Appraise attributes. • Trial—Purchase and use. • Adoption—Repeated purchase. • Plus “advocacy” stage where loyal consumers recommend brands |
Created by:
agk236