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CHAPTER 8 VOCAB

QuestionAnswer
Ethnocentrism Tendency to view and value things from the perspective of one’s own culture.
Self-reference criterion (SRC): Unconscious reference to one’s own cultural values, experiences, and knowledge as a basis for decisions.
Industry analysis Trends within an entire industry.
Market analysis Emphasizes on the demand side of the equation
Competitor analysis Determining who the brand’s competitors.
Brand awareness Indicator of consumer knowledge about the existence of the brand
Top-of-the-mind awareness Easy retrieval of a brand from memory
Trial usage Reflects actual behavior by encouraging customers to try a product
Repeat purchase Purchasing a product for a second time
Brand switching Long and expensive task in which consumers are persuaded to switch brands.
Percentage-of-sales approach Calculates the budget based on a percentage of the prior year’s sales or the projected year’s sales.
Share of voice: Firm’s advertising presence in the market
Response models Helps to maintain greater objectivity.
Advertising response function Mathematical relationship that associates money spent on advertising and sales generated
Objective-and-task approach Begins with the stated objectives for a campaign.
Build-up cost analysis Building up the expenditure levels for tasks.
Strategy: Represents the mechanism to do something.
Execution Execution is actual “doing” in the execution of an ad plan—the making and placing of ads across all media.
Copy strategy Consists of copy objectives and methods
Media plan Specifies where the ads will be placed and what strategy is behind their placement
Created by: Rhudiperez
 

 



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