Marketing exam 5 UCF

Term
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advertising
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Terms in this set (51)
advertising
A paid form of communication delivered through media from an identifiable source about an organization, product, service, or idea designed to persuade the receiver to take some action now or in the future.
AIDA model
Awareness leads to Interests, which lead to Desire, which leads to Action.
aided recall
An awareness metric that occurs when consumers recognize a name (e.g., of a brand) that has been presented to them.
brand awareness
Measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers.
click-through rate (CTR)
the number of times a user clicks on an online ad divided by the number of impressions
communications channel
the medium of transmission that carries the coded message from the source to the receiver
decoding
The process by which the receiver interprets the sender's message
direct marketing
sales and promotional techniques that deliver promotional materials individually
encoding
the processing of information into the memory system—for example, by extracting meaning.
feedback loop
allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly
gross rating points (GRP)measure used for various media advertising - print, radio, or television; GRP = reach x frequencyIntergrated Marketing Communications (IMC)Represents the promotion dimension of the four Ps; encompasses a variety of communication disciplines—general advertising, personal selling, sales promotion, public relations, direct marketing, and electronic media—in combination to provide clarity, consistency, and maximum communicative impact.lagged effecta delayed response to a marketing communication campaignobjective-and-task methodan IMC budgeting method that determines the cost required to undertake specific tasks to accomplish communication objectives; process entails setting objectives, choosing media, and determining costspersonal sellinga purchase situation involving a personal, paid-for communication between two people in an attempt to influence each otherpublic relations (PR)the organizational function that manages the firm's communications to achieve a variety of objectives, including building and maintaining a positive image, handling or heading off unfavorable stories or events, and maintaining positive relationships with the mediareturn on marketing investment (ROMIThe amount of profit divided by the value of the investment. In the case of an advertisement, the ROI is (the sales revenue generated by the ad - the ad's cost) / the ad's costrule-of-thumb methodsbudgeting methods that base the IMC budget on either the firm's share of the market in relation to competition, a fixed percentage of forecasted sales, or what is left after other operating costs and forecasted sales have been budgetedsales promotionsSpecial incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays.search engine marketing (SEM)an activity used in online searches to increase the visibility of a firm by using paid searches to appear higher up in search resultstop-of-mind awarenessa prominent place in people's memories that triggers a response without them having to put any thought into itadvertising plana section of the firm's overall marketing plan that explicitly outlines the objectives of the advertising campaign, how the campaign might accomplish those objectives, and how the firm can determine whether the campaign was successfulbrand elementscharacteristics that identify the sponsor of a specific adcause-related marketingcommercial activity in which businesses and charities form a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaigncontinuous (advertising) scheduleAn advertising schedule that runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relatively steady rates and that require a steady level of persuasive or reminder advertising.emotional appealaims to satisfy consumers' emotional desires rather than their utilitarian needsflighting (advertising schedule)an advertising schedule implemented in spurts, with periods of heavy advertising followed by periods of no advertisinginformational appealused in a promotion to help consumers make purchase decisions by offering factual information and strong arguments built around relevant issues that encourage them to evaluate the brand favorably on the basis of the key benefits it providesinformative advertisingcommunication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchaseinstitutional advertisementA type of advertising that promotes a company, corporation, business, institution, or organization. Unlike product-focused advertisements, it is not intended to sell a particular product or service.media buythe actual purchase of airtime or print pagesmedia planningthe process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audienceniche mediaChannels that are focused and generally used to reach narrow segments, often with unique demographic characteristics or interests.persuasive advertisingcommunication used to motivate consumers to take actionpoint-of-purchase (POP) displaya merchandise display located at the point of purchase, such as at the checkout counter in a grocery storeposttestingthe evaluation of an IMC campaign's impact after it has been implementedpretestingassessments performed before an ad campaign is implemented to ensure that the various elements are working in an integrated fashion and doing what they are intended to dopull strategya marketing strategy that stimulates consumer demand to obtain product distributionpush strategya marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandisereminder advertisingcommunication used to remind consumers of a product or to prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycleunique selling proposition (USP)a strategy of differentiating a product by communicating its unique attributes; often becomes the common theme or slogan in the entire advertising campaignclosing the saleobtaining a commitment from the customer to make a purchasecompany sales forceThe people who are employees of the selling company and are engaged in the selling process.The communication process steps aresender to encoding to media to receiving and decodingInteractive and Offline IMC Strategies-personal selling -sales promotions (contests) -direct marketing (telemarketing)Interactive and Online IMC Strategies-direct marketing (mobile marketing) -online marketing (blogs, social media)Passive and Offline IMC Strategies-advertising -sales promotions (coupons) -PR -direct marketing (catalogs)Passive and Online IMC Strategiesdirect marketing (email marketing)Steps in Planning and Executing an Ad Campaign1. Identify target audience 2. Set advertising objectives 3. Determine the advertising budget 4. Convey the message 5. Evaluate and select media 6. Create advertisements 7. Assess impactsales promotioncoupons, money off promotions, product samplesPersonal selling process1. Generate and qualify leads 2. Preapproach 3. Sales presentation and overcoming reservations 4. Closing the sale 5. Follow-up