Marketing 3023: Exam 5 UCF massiah

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

Integrated Marketing Communications (IMC)

sender (firm)

transmitter [encodes message]

communications channel (media)

receiver(consumer)

decodes message

environmental noise is in any step of the process, anything that acts as a distraction

Communication Process (steps)

the firm from which an IMC message originates; must be clearly identified to the audience

Sender

agent or intermediary with which the sender works the develop the marketing communications; for example, a firm's creative department or an advertising agency

Transmitter

process of converting the sender's ideas into a message, which could be verbal, visual, or both

Encoding

medium (print, broadcast, internet) that carries the message

Communication Channel

person who reads, hears, or sees and processes the information contained in the message of advertisement

Receiver

the process by which the receiver interprets the sender's message

Decoding

any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; a problem for all communication channels

Noise

allows receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly

Feedback Loop

a common model of the series of mental stages through which consumers move as a result of marketing communications: Awareness leads to Interests, which lead to Desire, which leads to Action

AIDA Model

measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated use of the various brand elements (brand, name, logo, symbol, character, packaging, or slogan) in the firm's communications to consumers

Brand awareness

occurs when consumers recognize a name (e.g. of a brand) that has been presented to them)

Aided recall

a prominent place in people's memories that triggers a response without them having to put any thought into it

Top-of-mind awareness

A delayed response to a marketing communication campaign

The lagged effect

the first goal of the IMC messages is to build the interest level of their target market

Interest Level

once the marketers have gotten their target market interested, their IMC messages try to move attitudes towards actually wanting/desiring the product

Desire Shift

now that the target market actually desires the product, the IMC messages try to move them into taking action and buying it

Action Shift

a paid form of communication from an unidentifiable source, delivered through a communication channel, and designed to persuade the receiver to take some action, now or in the future

Advertising

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 media

Public Relations

special 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

Sales Promotions

Free samples or POP displays are designed to build __________ sales

Short-term

Contests and sweepstakes are designed to build _______________

Customer Loyalty

two-way flow of communication between a buyer and seller that is designed to influence the buyer's purchase decision

Personal Selling

sales and promotional techniques that deliver promotional materials individually

Direct Marketing

marketing through wireless handheld devices

Mobile Marketing

websites, blogs, and social media

Electronic Media Vehicles

help build brand image and educate customers about their products or services as well as where they can be purchased

Websites

a web page that contains periodic posts; corporate blogs are a new form of marketing communications

Blogs

media content used for social interactions such as YouTube, Facebook, and Twitter

Social Media

an IMC bugeting method that determines the cost required to undertake specific tasks to accomplish communication objectives; the process consists of Setting Objectives, Choosing Media, the Determining Costs

objective-and-task budgeting method

budgeting 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 budgeted

rule-of-thumb methods

measure of how often the audience is exposed to a communication within a specified period of time

frequency

measure of consumers' exposure to marketing communications; percentage of the target population exposed to a specific marketing communication

reach

measure used for various media advertising;

GRP = reach * frequency

gross rating points (GRP)

measurement software for tracking clicks, time on page, etc. Ex: Google analytics

Web Tracking

1. Identify target audience

2. set advertising objectives

3. determine advertising budget

4. convey the message

5. evaluate and select media

6. create advertisements

7. assess impact

Advertising Campaign Steps

Firms conduct research to ___[verb]____ a ___[noun, 2-words]___, then use the info they gain to set the tone for the advertising program and help them select the media they will use to deliver the message to that audience

Identify target audience

a 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 successful

advertising plan

strategy in which orders for merchandise are generated at the store level on the basis of demand data captured by point-of-sales terminals

pull strategy

designed to increase demand by motivating sellers (wholesalers, distributors, salespeople) to highlight the product, rather than the products of competitors, and thereby push the product onto customers

push strategy

communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase

informative advertising

communication used to motivate consumers to take action

persuasive advertising

communication 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 cycle

reminder advertising

used to inform, persuade, or remind consumers about a specific product or service

product-focused advertisements

a type of advertisement that informs, persuades, or reminds consumers about issues related to places, politics, or an industry

institutional advertisements

advertising that focuses on public welfare and generally is sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups

public-service announcements

the content distributed through online and mobile technologies to facilitate interpersonal interactions

social marketing

i. Firms must consider the role that advertising plays in their attempt to meet their overall promotional objectives

ii. Advertising expenditures vary over the course of the product life cycle

iii. The nature of the market and the product influence the size of advertising budgets

Determine the advertising budget

i. The firm determines the key message it wants to communicate to the target audience

ii. The firm decides what appeal would most effectively convey the message

Convey the message

Provides target audience with reasons to respond in the desired way, logical starting point is to tout key benefits of product or service, should communicate its problem-solving ability clearly and in a compelling fashion

the message

a strategy of differentiating a product by communicating its unique attributes; often becomes the common theme or slogan in the entire advertising campaign

unique selling proposition (USP)

used in a promotion to help consumers make purchase decisions by offering factual info and strong arguments built around relevant issues that encourage them to evaluate the brand favorably on the basis of the key benefits it provides

informational appeals

aims to satisfy consumers' emotional desires rather than their utilitarian needs

emotional appeal

the process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience

media planning

the combination of the media used and the frequency of advertising in each medium

media mix

the actual purchase of airtime or print pages

media buy

channels that are ideal for reaching large numbers of anonymous audience members; include national newspapers, magazines, radio, and television

mass media

channels that are focused and generally used to reach narrow segments, often with unique demographic characteristics of interests

niche media

specification of the timing and duration of advertising

advertising schedule

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

continuous schedule

an advertising schedule implemented in spurts, with periods of heavy advertising followed by periods of no advertising

flighting

combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods

pulsing

large type designed to draw attention

headline

additional smaller headline in an ad that provides a great deal of info through the use of short and simple words

subhead

the main text portion of an ad

body copy

characteristics that identify the sponsor of a specific ad

brand elements

assessments 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 do

pretesting

includes monitoring key indicators, such as daily or weekly sales, while the ad is running to shed light on any problems with the message or the medium

tracking

evaluation of an IMC campaign's impact after it has been implemented

posttesting

additional sales caused by advertising

lift

the legal exaggeration of praise, not quite deception because its so far exaggerated it should be obvious

puffery

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 media

public relations

commercial 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 campaign

cause-related marketing

popular PR tool; occurs when corporations support various activities (financially or otherwise), usually in the cultural or sports and entertainment sectors

event sponsorship

Special 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

sales promotion

provides a stated discount to consumers on the final selling price of a specific item; the retailer handles the discount

coupons

a type of short-term price reduction that can take several forms, such as a "featured price," a price lower than the regular price; a "buy one, get one free" offer; or a certain percentage "more free" offer contained in a larger packaging; can involve a special financing arrangement, such as reduced percentage interest rates or extended repayment terms

deal

an item offered for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing

premium

a brand-sponsored competition that requires some form of skill or effort

contest

a form of sales promotion that offers prizes based on a chance drawing of entrants' names

sweepstakes

offers potential customers the opportunity to try a product or service before they make a buying decision

sampling

specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time

loyalty programs

a merchandise display located at the point of purchase, such as at the checkout counter in a grocery store

point-of-purchase (POP) displays

a consumer discount in which a portion of the purchase price is returned to the buyer in cash; the manufacture, not the retailer, issues the refund

rebates

inclusion of a product in nontraditional situations, such as in a scene in a movie or television program

product placement

efforts of two or more firms joining together to reach a specific target market

cross-promoting

a sales philosophy and process that emphasizes a commitment to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to all parties

relationship selling

1. Generate and quantify leads

2. preapproach

3. sales presentation and overcoming reservations

4. closing the sale

5. follow-up

personal selling process

Step 1 of Personal Selling Process -

generate a list of potential customers and assess their potential

generate and quantify leads

a list of potential customers

leads

process of assessing the potential of sales leads

qualify

marketing activities that draw the attention of customers through blogs, twitter, linkedin, and other online sources, rather than using more traditional activities that require having to go out to get customers' attention, such as making a sales call

inbound marketing

major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry

trade shows

a method of prospecting in which salespeople telephone or go to see potential customers without appointments

cold calls

a method of prospecting in which salespeople telephone potential customers

telemarketing

Step 2 of Personal Selling Process

in the personal selling process, occurs prior to meeting the customer for the first time and extends the qualification of leads procedure; in this step, the salesperson conducts additional research and develops plans for meeting with the customer

Preapproach

a good technique for practicing the sales presentation prior to meeting with a customer; the salesperson acts out a simulated buying situation while a colleague or manager acts as the buyer

role playing

Step 3 of Personal Selling Process

sales presentation and overcoming reservations

Step 4 of Personal Selling Process

Obtaining a commitment from the customer to make a purchase

closing the sale