mktg 3310 final exam

8/20/2019 MKTG 3310 Final Exam

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MKTG 3310: Final Exam

Promotion

communication by marketers that informs, persuades, and reminds potential buyers of a product

in order to influence an opinion or elicit a response

Promotion Strategy

a plan for the optimal use of the elements of promotion: advertising, public relations, personal

selling, sales promotion, and social media

Promotional Mix

the combination of promotional tools- including advertising, public relations, personal selling,sales promotion, and social media- used to reach the target market and fulfill the organization's

overall goals

Advertising

impersonal, one-way mass communication about a product or organization that is paid for by a

marketer

Publi relations

the marketing functions that evaluates public attitudes, identifies areas within the organizationthe public may be interested in, and executes a program of action to earn public understandingand acceptance

Publiity

public information about a company, product, service, or issue appearing in the mass media as a

news item

Sales !romotion

marketing activities- other than personal selling, advertising, and public relations-that stimulate

consumer buying and dealer effectiveness

Personal selling

a purchase situation involving a personal, paid-for communication between two people in an

attempt to influence each other



Soial media

promotion tools used to facilitate conversations among people online

"n#orming

promotion seeks to convert an existing need into a want or to stimulate interest in a new product.

Early stages of the product life cycles

Persuading

promotion designed to stimulate a purchase or an action. rowth stage of the product life cycle

$eminding

promotion used to keep the product and brand name in the public's mind

T%e A"&A one!t

a model that outlines the process for achieving promotional goals in terms of stages of consumer

involvement with the message! the acronym stands for attention, interest, desire, and action

'ature o# t%e !rodut

"haracteristics of the product can influence the promotional mix! business product or consumer

product

Ty!e o# buying deisions

routine or complex

Pus% strategy

a marketing strategy that uses aggressive personal selling and trade advertising to convince a

wholesaler or a retailer to carry and sell particular merchandise

Pull strategy

a marketing strategy that stimulates consumer demand to obtain product distribution

"ntegrated mar(eting ommuniations

the careful coordination of all promotional message for a product or a service to ensure theconsistency of messages at every contact point at which a company meets the consumer.



$easons #or gro)t% o# integrated mar(eting ommuniations

#.the proliferation of thousands of media choices beyond tradition television has made promotiona more complicated task. $. %ass market has fragmented &. %arketers have slashed their

advertising spending in favor of promotional techniues that generate immediate sales responses

and those that more easily measured

E##et t%at advertising %as on a *onsumer

advertising affects consumers' daily lives, informing them about product and services and

influencing their attitudes, beliefs, and ultimately their purchases.

"nstitutional

a form of advertising designed to enhance a company's image rather than promote a particular

product

Pioneering advertising

a form of advertising designed to stimulate primary demand for a new product or product

category

*om!etitive advertising+ seletive

a form of advertising designed to influence demand for a specific brand

*om!arative advertising

a form of advertising that compares two or more specifically named or shown competing brands

on one or more specific attributes

Advantages o# ne)s!a!er advertising

geographic selectivity and flexibility! short-term advertiser commitments! new value and

immediacy! year-round readership! high individual market coverage! co-op and local tie-inavailability short lead time

&isadvantages o# ne)s!a!er advertising

little demographic selectivity! limited color capabilities! low pass-along rate! may be expensive

Advantages o# maga,ine advertising

ood reproduction, especially for color! demographic selectivity! regional selectivity! local

market selectivity! relatively long advertising life! high pass-along rate



&isadvantages o# maga,ine advertising

long-term advertiser commitments! slow audience buildup! limited demonstration capabilities!lack of urgency! long lead time

Advantages o# $adio advertising

low cost! immediacy of message! can be scheduled on short notice! relatively no seasonal changein audience! highly profitable! short-term advertiser commitments! entertainment carryover

&isadvantages o# $adio advertising

(o visual treatment! short advertising life of message! high freuency reuired to generate

comprehension and retention! distractions from background sound! commercial clutter

Advantages o# television advertising

)bility to reach a wide, diverse audience! low cost per thousand! creative opportunities for

demonstration! immediacy of message! entertainment carryover! demographic selectivity with

cable stations

&isadvantages o# Television advertising

short life of message! some consumer skepticism about claims! high campaign cost! little

demographic selectivity with network stations! long-term advertiser commitments! long leadtimes reuired for production! commercial clutter

Advantages o# "nternet advertising

*astest-growing medium! ability to reach a narrow target audience! relatively short lead timereuired for creating web-based advertising! moderate cost! ability to measure ad effectiveness!

ability to engage consumers through search engine marketing, social media, display advertising,

mobile marketing

&isadvantages o# "nternet advertising

most ad exposure relies on +click-through+ from display ads! measurement for social media

needs much improvement! not all consumers have access to the internet, and many consumersare not using social media

Advantages o# outdoor media

repetition! moderate cost! flexibility! geographic selectivity

&isadvantages o# outdoor media



short message! lack of demographic selectivity! high 'noise' level distracting audience

Media seletions onsiderations )%en develo!ing a media mix

cost per contact, cost per click, reach, freuency, target audience considerations, flexibility of

medium, noise level, and the life span of the medium

'e)+!rodut !ubliity

is instrumental in introducing new product services, help advertisers explain what's different

about their new product by prompting free new stories or positive words of mouth about it

Produt !laement

is a strategy that involves getting a product, service, or company name to appear in a movie,

television show, radio program, magazine, newspaper, video game, video or audio clip, book, or

commercial for another product! on the internet or at special events

S!onsors%i!

a public relations strategy in which a company spends money to support an issue, cause, or event

that is consistent with corporate obectives, such as improving brand awareness or enhancingcorporate image

Trade sales !romotion tools

sale promotion activities targeting a marketing channel member, such as a wholesaler or retailer

*onsumer sales !romotion tools

sales promotion activities targeting the ultimate consumer

Advantages o# !ersonal selling over ot%er #orms o# !romotion

#.personal selling provides a detailed explanation or demonstration of the product. $. he sales

message can be varied according to the motivations and interest of each prospective customer,

can answer customer uestions. &. irect to only ualified prospects. /. "an be controlled byadusting the size of the sale force. 0. "onsiderably more effective than other forms of promotion

in obtaining a sale and gained a satisfied customer

$elations%i! or onsultative selling

a sale practice that involves building, maintain, and enhancing interactions with customers in

order to develop long term satisfaction through mutually beneficial partnerships



Ste!s in t%e selling !roess

#.enrate leads $. 1ualifying leads &. )pproaching the customer and probing needs /.eveloping and proposing solutions 0. 2andling obections 3. "losing the sale 4. *ollowing up

mktg 3310 final exam

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