Strategic Communication and Integrated Marketing Communications

Vocabulary flashcards covering fundamental concepts, definitions, segmentation types, strategic tools, and case examples from the Strategic Communication lecture notes.

Marketing

The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Marketing Mix (Four P's)

The four basic elements of marketing—product, price, place, and promotion—that are combined into a program to facilitate exchange with consumers.

Promotion

The communication process in marketing used to create a favorable predisposition toward a brand, product, service, idea, or person.

Promotional Mix

The blend of communication tools used by a firm to carry out the promotion process and communicate directly with target audiences.

Integrated Marketing Communications (IMC)

The management of promotional tools to create a unified, synergistic communication effect focused primarily on the message itself rather than its delivery method.

Advertising

A paid, mass-mediated attempt to persuade delivered through mass communication media such as television, radio, and newspapers.

Market Segmentation

The process of dividing large, diverse, heterogeneous populations into smaller, homogeneous segments of buyers with similar needs and responses.

Product Differentiation

Creating a perceived difference between an organization's brand and that of the competition in the mind of an audience.

Positioning

The process of designing a product or service so that it can occupy a distinct and valued place in the consumer's mind and telling people about it.

Brand Name

The written or spoken part of a company that customers recognize and respect.

Line Extension

Introducing new products within the same product category under an existing brand name.

Brand Extension

Using an existing brand name to enter a new product category.

Economies of Scale

An economic phenomenon where high-volume sales result in high-volume production, lowering the production cost of each item sold.

Brand Loyalty

Consumer preference for and repeat purchase of a specific brand to the exclusion of competitors' brands.

Inelasticity of Demand

A condition resulting from brand loyalty where consumers are less sensitive to price changes because of their dedication to a specific brand.

Sales Promotion

The use of incentives such as free samples, coupons, premiums, contests, rebates, and price discounts to generate short-term responses from buyers.

Direct Marketing

A system of marketing by which an organization communicates directly with customers to generate a response and/or transaction.

Sponsorship

Funding an event or charitable cause, or creating an event, to highlight a firm's brand to a specific target audience.

Point-of-Purchase Promotion

Promotional materials and displays used in a retail setting to attract customers.

Public Relations

Communication focused on establishing a good image and reputation for a company while fostering goodwill between a firm and its constituents.

Target Marketing

Developing different marketing strategies to satisfy different consumer needs through market identification, segmentation, targeting, and positioning.

Psychographic Segmentation

Dividing a market on the basis of personality, hobbies, lifecycles, lifestyles, values, beliefs, attitudes, and opinions.

Geographic Segmentation

Dividing a market on the basis of region, city size, metropolitan area, and/or density.

Demographic Segmentation

Dividing a market based on demographic variables such as age, race, gender, education, income, and social class.

Behavioristic Segmentation

Dividing consumers into groups according to their usage localities, loyalties, or buying responses to a product.

80-20 Rule

The principle stating that 80% of a company's revenue or sales comes from 20% of its loyal, heavy-spending buyers.

Benefit Segmentation

Grouping consumers on the basis of specific attributes or benefits sought in a product to satisfy their needs and wants.

Repositioning

Altering a product or brand's position due to declining or stagnant sales or anticipated opportunities in other market positions.

Social Listening

The process of tracking and analyzing online conversations across social media, blogs, forums, and review sites to understand what people say about a brand, competitor, or industry.

Marketing Plan

A document describing an organization's overall marketing strategy and programs, including situation analysis, objectives, target market selection, implementation, and feedback mechanisms.

Internal Analysis

An assessment within a firm evaluating product strengths and weaknesses, brand image, in-house promotional capability, and past promotional performance.

The Hire

A series of BMW promotional short films made with top directors, including 'Ambush' starring Clive Owen and the BMW 7-series, directed by John Frankenheimer.

AT&T Football Helmet

An promotional technology example featured in the notes that helps hard of hearing players communicate with coaches.

Phil Knight

The Stanford graduate associated with Nike, a brand that originated with running shoes utilizing a waffle maker for sole design.