Marketing Communication and Branding Flashcards

Flashcards covering key concepts from the lecture notes on Marketing Communication and Branding.

How does communication take place in marketing?

Transmitting, receiving, and processing information, ideally with the receiver decoding the message as intended by the sender.

What is an Integrated Marketing Communications (IMC) program?

Coordination and integration of all marketing communication tools into a seamless program to maximize impact on customers.

What are the key components of the Marketing Mix?

Products, prices, distribution systems, and promotions.

What are the components of Promotion?

Advertising, digital marketing, social media, alternative marketing, database marketing, direct response, personal selling, sales promotions, and public relations.

What are the steps of an Integrated Marketing Communications Plan?

Current situational analysis, SWOT analysis, marketing objectives, target market, marketing strategies and tactics, implementation, and evaluation of performance.

Which trends are affecting marketing communications?

Emphasis on accountability, mobile marketing, integration of media platforms, changes in channel power, increased global competition, increased brand parity, emphasis on customer engagement, focus on convenience, and cause-related marketing.

What is meant by GIMC?

A globally integrated marketing communication program that operates on a global level, using either standardization or adaptation.

What is standardization in GIMC?

Creating a global product using a more universal promotional theme.

What is adaptation in GIMC?

Creating products and marketing messages designed for and adapted to individual countries.

What is a brand image?

What the company and its products stand for and how it is known on the market.

What are the visible components of a brand image?

Goods or services sold, retail outlets, advertising, marketing communications, name and logo, package and labels, and employees.

What are the invisible components of a brand image?

Corporate personnel, environmental policies, corporate culture, country location, and media reports.

What are the benefits of a strong brand image from a consumer perspective?

Provides confidence, assurance, reduces search time, and provides psychological reinforcement.

What are the benefits of a strong brand image from a company perspective?

Extension of positive customer feelings, ability to charge higher price, consumer loyalty, positive word-of-mouth, higher channel power, ability to attract talent, and favorable financial ratings.

What different types of brand names do companies use?

Overt names, implied names, conceptual names, and iconoclastic names.

What are family brands?

A group of related products sold under one name.

What is brand extension?

The use of an established brand name on new goods or services.

What is cooperative branding?

Joint venture of 2 or more brands into a new product or service

What is stimulus codability?

Logos that inspire shared meanings among consumers.

What are the four tests of quality brand logos and names?

Recognizable, familiar, elicits a consensual meaning, and evokes positive feelings.

What are the keys to successful image rejuvenation?

Help former customers rediscover the brand, offer timeless consumer value, stay true to the original but contemporize, and build a community.

How to build powerful brands?

Invest in the brand, create awareness, offer authenticity and uniqueness, build trust, deliver an experience, offer value, utilize social media/mobile phones, and act responsibly.

What are the changes in private brands?

Improved quality, perceived as a value purchase, higher loyalty toward retail outlets, differentiate retail outlets, increased advertising, increased quality of displays and packaging.

What tactics from manufacturers to combat retail private brands?

Focus on core brands, increase advertising, introduce new products, focus on in-store selling and packaging, and use alternative methods of marketing.

What are the primary purposes of packaging?

Protect product, provide ease of shipping and handling, easy placement on shelves, prevent theft, prevent tampering, meet consumer needs, and communicate the marketing message.

What information do labels provide?

Identifying the product, nutritional information, and contents.

What is Brand infringement?

Using a name for a brand that closely resembles another popular brand.

What is Cybersquatting/domain squatting?

Buying domain names of popular brands in the hope of making a profit from reselling the name.

What is Standardization in international branding?

Same brand name and brand products are sold in all countries

What is Adaptation in international branding?

The brand name and/or the products may be different in each country.

What does internal search involve?

Consumer thinks about the brands they will consider and eliminates those with negative experiences

What does External Search involve?

consumer will continue to the external search, which consists of the evaluation of the alternatives

What are the three components of attitude when purchasing?

attitude: Cognitive, Affective, Conative

What are Cognitive Maps?

knowledge structures and memories embedded in an individual’s mind

What is the Evoked Set?

the brands a person considers in a purchasing situation

What is the Inept Set?

The brands that are part of a consumer memory that are not considered because they elicit negative feelings

What does Affect Referral involve?

consumer chooses the brands they like the best or the ones they have emotional connections to

What is Age Complexity?

Kids act more grown-up because of all the technology and middle-aged people don’t want to 'get' old and act as if they’re younger

How segments are identified in Industry market in B-to-B market segments?

They use the NAICS code, a 6-digit code, to divide companies into 20 broad sectors

How a company can overcome international differences when adapting to buying processes?

Understad cultural differences related to products, messages, and selling techniques

What is the Buying Center?

The group of individuals making purchase decisions on behalf of the business

What is Attributes approach in product positioning?

product traits or characteristics that set a brand apart from the rest

What is Competitors approach in product positioning?

usage of competitors to show the contrast between products

What is Benchmark measure?

A starting point to be compared with the degree of change following a promotional campaign

What is Product-specific research?

the characteristics of a product that turn into selling points

What is Consumer-oriented research?

Help marketers understand the context of a product’s use

What is Target-market research?

reveals the best market for a particular benefit of a good or service

What are Generic Messages?

An ad that directly promotes the benefits of a product without a sense of superiority, mainly used by the leader in the industry. They stimulate brand awareness

What is Message strategy?

the primary tactic or approach used to deliver the message theme

What are Assertative ads?

When consumers are implied to 'buy this' they feel some resistance, especially among the most loyal consumers

What is Fear Appeal?

Fear increases viewer interest in an ad and can increase the ad’s persuasiveness

What are Fantasy Executions?

These lift the audience beyond the real world to a make-believe experience, some are realistic and others might be completely irrational

What are Typical Persons in advertising design?

paid actors or models who portray or resemble everyday people. Or actual, typical everyday people

What are the stages of Buzz Marketing?

Inoculation, Incubations, Infection

What are In-Store Marketing Tactics?

color, light and sounds are elements of In-store Marketing

What is media strategy?

Analysing and choosing media for an advertising and marketing campaign

What is Marketing Analysis in media planning?

comprehensive review of the marketing program, with a statement about current sales, current market share, and prime prospects to be solicited

Who are Account Planners?

They provide the voice and serve as the advocate for the consumer within the advertising agency

How Weighted CPM is calculated?

Formula: (Ad cost X 1000) / Actual Audience reached

What is CrowdSourcing?

The practice of obtaining information or input into a task or project by enlisting the services of a large number of people, either paid or unpaid, typically via the Internet

What is Media Multiplier Effect?

The combined impact of using two or more media will be stronger than using either medium alone