Marketing Management

Chapters 13, 15, 16, 17, 18

Promotion

Communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior. +look at honesty and fairness. +each marketing segment may require a unique promotion blend

Personal Selling

Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone or even via an online conference.

Mass Selling

Communicating with large numbers of potential customers at the same time.

Advertising

Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.

Sales Promotion

Those promotion activities—other than advertising, publicity, and personal selling—that stimulate interest, trial, or purchase by final customers or others in the channel.

Publicity

Any unpaid form of nonpersonal presentation of ideas, goods, or services.

Sales Mangers

Managers concerned with managing personal selling.

Advertising Managers

Managers of their company's mass-selling effort in television, newspapers, magazines, online, and advertising on social media sites.

Sales Promotion Managers

Managers of their company's sales promotion effort.

Public Relations

Communication with noncustomers—including the press, labor, public interest groups, stockholders, and the government.

Intergrated Marketing Communications

The intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message.

AIDA Model

Consists of four promotion jobs: (1) to get Attention, (2) to hold Interest, (3) to arouse Desire,and (4) to obtain Action.

Communication Process

A source trying to reach a receiver with a message.

Source

The sender of a message.

Receiver

The target of a message in the communication process, usually a potential customer.

Noise

Any distraction that reduces the effectiveness of the communication process.

Encoding

The source in the communication process deciding what it wants to say and translating it into words or symbols that will have the same meaning to the receiver.

Decoding

The receiver in the communication process translating the message.

Message Channel

The carrier of the message.

Pushing

Using normal promotion effort—personal selling, advertising, and sales promotion—to help sell the whole marketing mix to possible channel members.

Pulling

Using promotion to get consumers to ask intermediaries for the product.

Adoption Curve

Shows when different groups accept ideas.

Innovators

The first group to adopt new products.

Early Adopters

The second group in the adoption curve to adopt a new product; these people are usually well respected by their peers and often are opinion leaders. salespeople and mass media.

Early Majority

A group in the adoption curve that avoids risk and waits to consider a new idea until many early adopters try it and like it.

Late Majority

A group of adopters who are cautious about new ideas. See also Adoption curve.

Laggards or Nonadopters

Prefer to do things the way they have been done in the past and are very suspicious of new ideas. See also Nonadopters and Adoption curve.

Primary Demand

Demand for the general product idea, not just the company's own brand.

Selective Demand

Demand for a company's own brand rather than a product category.

Task Method

An approach to developing a budget—basing the budget on the job to be done.

+direct response/ direct promotion

this seeks immediate feedback

marketers

they need to capture customers ATTENTION. Because it starts with the customer looking and searching which is initiating it.

internal marketing

selling to salesman that sell between intermediaries so like wholesalers and retailers

Advertising Agencies

Specialists in planning and handling mass-selling details for advertisers.

Cooperative Advertising

Producers sharing in the cost of ads with wholesalers or retailers.

Product Advertising

Advertising that tries to sell a specific product.

Institutional Advertising

Advertising that tries to promote an organization's image, reputation, or ideas rather than a specific product.

Pioneering Advertising

Advertising that tries to develop primary demand for a product category rather than demand for a specific brand.

Competitive Advertising

Advertising that tries to develop selective demand for a specific brand rather than a product category.

Direct Competitive Advertising

Competitive advertising that aims for immediate buying action.

Indirect Competitive Advertising

Competitive advertising that points out product advantages—to affect future buying decisions.

Comparative Advertising

Advertising that makes specific brand comparisons using actual product names.

Reminder Advertising

Advertising to keep the product's name before the public.

Advertising Media

The various means by which a message is communicated to its target market.

Pay-per-Click

An advertiser pays media costs only when a customer clicks on the ad that leads to the advertiser's website.

Retargeting or behavioural

Displaying ads to a web user based on sites he or she has previously visited; also called behavioral retargeting.

Click-through Rate

The number of people who click on the ad divided by the number of people the ad is presented to.

Influencers

Trusted or well-known figures who can sway attitudes or purchase decisions among a particular target market—to promote a brand.

Copy Thrust

What the words and illustrations of an ad should communicate.

Corrective Advertising

Ads to correct deceptive advertising.

Trade Promotion

Sales promotion aimed at intermediaries.

+Addressable TV

is a technology that allows cable tv to deliver specific ads to each household instead of advertising to everyone watching a particular show

+Specialized advertising

Shell gas stations show video ads on screens built into the gas pumps while customers fill up their cars. The goal is to get the customers to go inside the stores and make additional purchases. The fuel pump ads are a form of ______ media.

+Click Fraud

occurs when a person or software program automatically clicks on ads without having any interest in the ads subject

+programmatic advertising

refers to the use of software and artificial intelligence to automatic placing online advertising on websites or in social media to target users

+native advertising

designed to not look like ads; it mimics the look and feel of the platform on which the ad appears

Paid Media

Messages generated by a brand (or company or nonprofit organization) and communicated through a message channel the brand pays to access.

Owned Media

Promotional messages generated by a brand (or company or nonprofit organization) communicated through a message channel the brand directly controls.

Earned Media

Promotional messages not directly generated by the company or brand, but rather by third parties such as journalists or customers.

User-Generated Content

Any type of communication created by customers for other customers. User-generated content can take many forms.

Search Engine Optimization SEO

The process of designing a website so that it ranks high in a search engine's unpaid results.

Pass-Along

When one customer passes information on to one or more other customers.

Branded Services

Valued services a brand provides that are not directly connected to a core product offering.

White Paper

An authoritative report or guide that addresses important issues in an industry and offers solutions.

Case Studies

Success stories about how a company helped another customer.

Landing Page

A customized web page that logically follows from clicking on an organic search result, online advertisement, or other link.

Blog

A regularly updated website, usually managed by one person or a small group and written in an informal, conversational style.

Infographic

A visual image such as a chart or diagram used to represent information or data.

Branded Apps

Sponsored software applications that benefit customers by providing entertainment, solving a problem, and/or saving time.

Brand Community

A group of customers joined around a particular brand or common set of shared interests.

Referral Program

Offers a current customer an incentive for recommending a new customer to a business.

Social Media

Websites or software applications that allow users to create and share ideas, information, photos, and videos and interact in a social network.

YouTube

A video-sharing website where users upload, view, rate, share, create playlists, and comment on videos.

Facebook

An online social networking website that allows registered users to create profiles, upload photos and video, and send messages to friends, family, and colleagues.

Instagram

A free online photo- and video-sharing service geared to mobile phones.

Pinterest

A website that allows registered users to share ideas and images they find online with fellow users.

LinkedIn

A social networking website for businesspeople who create personal or company profiles.

Snapchat

A mobile app and service for sharing photos, videos, and texts with other people. GEN Z

Twitter

A social networking microblogging service that allows registered users to send out short (280 characters or less) messages called "tweets."

Marketing Automation Software

Software that tracks individual customers' behavior and triggers actions in response to specific customer actions.

+STEPPS

1. Social Currency 2. Triggers 3. Emotion 4. Public 5. Practical Value 6. Stories

+Opinion Leader

like to share their views-and they also get attention from other customers who respect their views. Marketers value personal recommendations from opinion leaders. For example, some movie fans like to be the first to see new flicks.

+BzzAgent

a company that starts conversations. BzzAgent works with about 800,000 "agents" in the United States, Canada, and the United Kingdom. Agents who sign up to help with a particular campaign receive product samples and information.

+Hootsuite

a dashboard that offers marketing managers the ability to submit messages to Facebook, Iwitter, LinkedIn, and other social media on a scheduled basis.

Price

The amount of money that is charged for "something" of value.

Target Return Objective

A specific level of profit as an objective.

Profit Maximization Objective

An objective to get as much profit as possible.

Benefit Corporation

A legal corporate structure that allows for goals that may include positive impacts on society, employees, the community, and the environment.

B Corporation (B Corp) Certification

A private certification that a corporation meets a high standard for social and environmental performance.

Sales-Oriented Objectives

An objective to get some level of unit sales, dollar sales, or share of market—without referring to profit.

Status Quo-Objectives

"Don't-rock-the-pricing-boat" objectives.

Nonprice Competition

Aggressive action on one or more of the Ps other than Price.

Administered Prices

Consciously set prices aimed at reaching the firm's objectives.

One-Price Policy

Offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Flexible-Price Policy

Offering the same product and quantities to different customers at different prices.

Dynamic Pricing

Pricing products at a particular customer's perceived ability to pay.

Skimming Price Policy

Trying to sell the top of the market—the top of the demand curve—at a high price before aiming at more price-sensitive customers.

Penetration Pricing Policy

Trying to sell the whole market at one low price.

Introductory Price Dealing

Temporary price cuts to speed new products into a market and get customers to try them.

Basic List Price

The prices that final customers or users are normally asked to pay for products.