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21 terms

Marketing ch.15

STUDY
PLAY
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