Marketing ch.15

21 terms by liiizlee 

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promotional mix

the combination of 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

Integrated marketing communications (IMC)

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

Communication

the process of conveying a message to others and requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding

Advertising

any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor

Personal selling

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

Public relations

form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services

Publicity

nonpersonal, indirectly paid presentation of an organization, good, or service

Sales promotion

a short-term inducement of value offered to arouse interest in buying a good or service

Direct marketing

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

push strategy

involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product

pull strategy

involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product

hierarchy of effects

the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product). The stages include awareness, interest, evaluation, trial, and adoption

Direct orders

the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction

Lead generation

the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information

Traffic generation

the outcome of a direct marketing offer designed to motivate people to visit a business

percentage of sales method

choosing the promotion budget by setting it as a percentage of past or anticipated sales

competitive parity

budgeting the promotion budget by matching the competitor's level of spending or the proportion per market share

all you can afford

budgeting promotion budget by allowing money to be spent on promotion only after all budget items are covered

objective and task

promotion budgeting that (1) determines its promotion activities (2) outlines the tasks to accomplish these objectives, and (3) determines the promotion cost of performing these tasks

advertising, personal selling, sales promotion, public relations, direct marketing

five basic integrated marketing communications (IMC) tools

allowances and discounts, cooperative advertising, salesforce training

3 types of trade oriented sales promotions

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