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MKT 300 Ch. 16: Integrated Marketing Communication
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Terms in this set (34)
Coordination of promotion and other marketing efforts for maximum informational and persuasive impact on customers
integrated marketing communications
A sharing of meaning through the transmission of information
communication
A person, a group, or an organization with a meaning it tries to share with a receiver or an audience
source
The individual, group, or organization that decodes a coded message
receiver
Converting meaning into a series of signs or symbols
coding process (encoding)
The medium of transmission that carries the coded message from the source to the receiver
communications channel
Converting signs or symbols into concepts and ideas
decoding process
Anything that reduces a communication's clarity and accuracy
noise
The receiver's response to a decoded message
feedback
The limit on the volume of information a communication channel can handle effectively
channel capacity
Communication to build and maintain relationships by informing and persuading one or more audiences
promotion
Promotion's goal is to:
to stimulate product demand and build customer relationships
Demand for a product category rather than for a specific brand
primary demand
A way to stimulate primary demand: promotion that informs consumers about a new product
pioneer promotion / new introductory promotion
If customers stall in the _______________ stage of the adoption process, marketers can use methods to encourage product trial in order to move them to __________________.
evaluation, product adoption
List the four elements of the promotion mix
1. advertising
2. personal selling
3. public relations
4. sales promotion
A combination of promotional methods used to promote a specific product
promotion mix
paid non personal communication about an organization and its products transmitted to a target audience through mass media
Advertising
Advertising is highly ___________________ and can reach large or small audiences depending on need.
flexible
A paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation
personal selling
list three types of interpersonal communication used in personal selling
1. kinesic
2. proxemic
3. tactile
Communicating through the movement of head, eyes, arms, hands, legs, or torso
kinesic communication
Communicating by varying the physical distance in face-to-face interactions
proxemic communication
Communicating through touching
tactile communication
a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders
Public Relations
a non-personal communication in a news-story form about an organization, its products, or both
publicity
Activities or materials that act as a direct inducement, offering added value or incentive for the product to resellers, salespeople, or customers
sales promotion
list four factors considered when selecting promotion mix elements
1. promotional resources, objectives, and policies
2. characteristics of the target market
3. characteristics of the product
4.costs and availability
Promoting a product only to the next institution down the marketing channel
push policy
Promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel
pull policy
Personal, informal exchanges of communication that customers share with one another about products, brands, and companies
word-of-mouth communication
An attempt to incite publicity and public excitement surrounding a product through a creative event
buzz marketing
A strategy to get consumers to share a marketer's message, often through email or online videos, in a way that spreads dramatically and quickly
viral marketing
The strategic location of products or product promotions within entertainment media content to reach the product's target market
product placement
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QUESTION
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QUESTION
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QUESTION
Project L costs $65,000, its expected cash inflows are$12,000 per year for 9 years, and its WACC is 9%. What is the project’s NPV?
QUESTION
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