Marketing Exam Chapters 1-5

Story Grammar

a rule system describing parts of a well-formed story and the order in which they are presented.

Advertising impressions

an estimate of the audience for a media insertion (one ad) or campaign.

Banner blindness

the tendency of internet users to ignore banner ads.

Relevance

sharing stories relevant to your business and industry--- what is pertinent to the market.

Which statement below is most accurate about integrated marketing communications?

Lovemarks

______ is a marketing research technique that plots consumers' views about a brand or product on horizontal and vertical axes of different attributes

a perceptual map

noble purpose

Being in service of something bigger than yourself and adding value for customers.

social identity

Collection of group memberships that help define the individual

Lovemarks

Brands recognizing that the heart rules the head in decision-making.

Immersion

creating emotionally resonant experiences that lead to a higher likelihood of immediate action and easier recall later.

Modern Marketing

moving goods from producer to consumer through advertising and sales.

Golden Circle

a model to explain how legendary leaders achieve what others just as smart, hardworking, and funded do not.

Consumer

the ultimate user of products, services, or ideas

Target Market

a specific portion of the total population most likely to purchase a particular company's products or services

Product

a bundle of features, functions, benefits, and uses capable of exchange.

Promotion

marketing communications or the promotional messages and media used to communicate to a target market.

Integrated Marketing Communcations

align and coordinate all marketing communications from the consumer's perspective to present a cohesive whole that persuades them to purchase

Initiator

the person who first thinks of buying a product or service.

User

the person(s) who use the product or service.

Gatekeeper

the person who control access to the decision-makers ad influencers.

Paid Media

anything the brand pays for its message to appear in front of an audience

Flighting

alternates between running an advertising schedule and stopping ads

Which of the following serve as the main contact with marketing clients in a marketing communication firm?

account executives

A basic tenet in advertising is that if an ad hopes to generate a response it must first _______.

attract attention

Points of Parity

Product elements that make it similar to products in a category

price war

Repeated cutting of prices below competitors.

Customer centric

Understanding who your most valuable customers are and delivering the most value to them.

Archetype

A character in a story created based on a set of qualities identifiable to readers.

brand community

Group of people with social relations structured around being admirers of a brand.

Creator

Someone who brings something new or original into being

Attention

the process by which a consumer selects information to interpret and when they are aware of stimuli in an environment

Influencer

anyone who has an impact on others' decisions

User-generated content

content that comes from a brand's audience but is marketing the brand

Sympathy

a feeling of concern for someone else

Empathy

the ability to understand and share the feelngs of another person

Transportation theory

a mechanism to affect beliefs whereby an audience is drawn into the world of a narrative by becoming involved with the characters through conflict and an identifiable beginning, middle, and end story line.

Classical Drama

chronologically organized plot that draws an audiance into recognizing the feelings of the characters (sympathy) and sharing in them (empathy).

Tension

an emotion of inner striving, unrest, or imbalance.

Advertainment

a form of entertainment created with the purpose of advertising something.

Publicity

the non-paid-for communication of information about a company, product, or servie through media.

Inverted Pyramid Structure

a story that places the most important information in the lead paragraph, then details such as the background in the remaining paragraphs from most to least important. (best for news articles)

Dramatic structure

structure of dramatic works like plays, books, and films with a beginning, middle, and end that follows the journey of characters.

Chief storyteller

an employee of an organization tasked with telling the brand's story to both internal and external audiences.

Myth

a traditional story of ostensibly historical events that serves to explain a practice, belief, or natural phenomenon.

Drama

a state, situation, or series of events involving an interesting or intense conflict of forces.

Binge-watching

watching many or all episodes of a TV series in rapid succession.

Freytag's pyramid

a sequence of five structural phases in drama (Exposition, Complication, Climax, Reversal, Denouement)

Exposition (background)

sets the stage by introducing character and setting, followed by a complication.

Complication (Tension rising)

an inciting moment that creates conflict-producing tension

Climax (Turning point)

Where the story (plot) takes a turning point for better (a comedy) or for worse (a tragedy)

Reversal (tension falling)

results of the climax as a series of events or falling action moves the plot toward a resolution.

Denouement (moment of release)

when the conflict or complication is resolved and tension is released

Story Map

story grammar presented as an outline

Comparative Mythology

studies myths of various cultures and identifies common themes or underlying similarities.

The Hero's Journey

a common heroic narrative where a protagonist sets out, has transformative adventures, and returns home.

Story Circle

(Dan Harmon) ordinary person is challenged with a need, they accept and go out into the unknown searching for a resolution, they find it in a great challenge, they succeed, take a reward, and return home a changed person who changed things. (think National Treasure)

Outside-in Marketing Strategy

What --> How --> Why

Inside-out Marketing Strategy

Why --> How --> What

(More successful)

Points of differentiation

the attributes that make the brand distinctive from competitors'

Price Promotions

when products are offered at a discounted price.

Hero

The most common archetype (the protagonist), of a narrative who displays characteristics of courage, perseverance, and sacrifice.

Marketing Mix

the combination of controllable marketing variables a firm uses to achieve sales objectives in the target market (four Ps - Product, Price, Place, Promotion)

Market

a collection of people who wish to buy a specific product, known as an industry or business sector.

Positioning

the way consumers view competitive brands of products in a market

Price

the amount a customer must pay to acquire a product

Place (distribution)

carrying the products to consumers and the extent of market coverage

SMART objective guidelines

Specific, Measurable, Achievable, Relevant, Timely

Target Audience

the specific group of consumers most likely to want a product or service and the group who should see marketing communications

Decider

the person who ultimately determines whether, what, where, and how to buy.

Buyer

the person who handles the actual purchase

Firmographics

data used to segment companies into meaningful categories for B2B marketing

Technographics

data used to segment companies based on the technology they use such as hardware, software, tools, and applications

Earned Media

getting media to talk about the brand in newspaper and trade articles, on broadcast news and podcasts, or in blogs, without payment

Shared Media

nonpaid forms of social media where the brand talks about itself, consumers talk about the brand, and they both talk directly through social networks, reviews, forums, and consumer blogs

Owned Media

content created by the brand on platforms it owns and controls, such as websites, corporate blogs, videos, webinars, brand podcasts, and email to list s of brand subscribers

Marketing Objectives

focus on a direct return on the firm's marketing investment, such as reaching a specific level of sales, revenue, or market share.

Communications objectives

focus on effective communications, such as specific level of advertising recall or brand or product awareness or a measurable change in attitudes, brand image, or reputation.

Media Planning

determines the types of advertising media used, the amount of budget allocated to each (media mix), and the specific time schedule for each media vehicle.

Frequency

the average number of exposures received by a portion of a defined population that was reached

Impressions

each time an ad is shown, often calculated as Reach x frequency.

Internet Impressions

a single display of online content to a user's web-enabled device.

Gross rating point (GRP)

measures the size of an audience reached by a specific traditional media vehicle or schedule during a specific time.

Cost per impression (CPI)

an internet advertising metric that defines cost according to the number of impressions

Cost per click (CPC)

an internet advertising metric that is the amount spent to get an advertisement clicked.

Cost per acquisition (CPA)

the total cost of acquiring a customer based on dividing the dollar amount spent.

Cost per mile (CPM)

the cost to reach 1,000 people or households to compare the cost effectiveness of 2 or more alternative media vehicles.

Connected TV (CTV) advertising

combines the technical capabilities of digital advertising with the user experience of television.

Pulsing

combines continuous advertising with intermittent planned spikes in ad runs

Reach

the number or percentage of people or households of a defined population exposed to a particular advertising media vehicle or media schedule during a specific time.

Resonance

engagement generated through the prolonging of a message by reflection and amplification.

Resound

fans' echoing messages to widely celebrate a brand.

Bull's-eye

the center of a target, which is the precise point to achieve the desired results.

Creative work

the visual and verbal combination that informs and persuades an audience about a product.

Campaign

a set of coordinated activities based on a common theme to promote a product through different media.

Actionable insight

a true understanding of people in the target audience and situations related to the product that can be used to meet marketing objectives.

Big idea

a driving, unifying force behind brand marketing efforts.

Having legs

a campaign theme can be created for many different media, for a long period of time.

Secondary research

information previously collected for other purposes that is publicly available.

Primary research

new research conducted to answer specific questions.

Focus groups

a small group of 6-10 people who participate in a discussion led by a moderator.