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ch.4
promotions books and notes
12
Marketing
Undergraduate 2
09/30/2009

Additional Marketing Flashcards

 


 

Cards

Term
communication market analysis
Definition

is the process of discovering the organization's strengths and weaknesses in the area of marketing communication and combining that information with an analysis of the opportunities and threats present in the firm's external enoviroment.

 

Areas examined :

-competitors

-opportunities

-target markets

-product positioning

Term

Competitors

 (communication market analysis)

Definition

discover who is the competition isand what they are doing in the areas of advertising and communication. (domestic and foriegn).

 

examines:

-advertisments

-promotional materials

-annual reports

-a prospectus for a publicly held corporation

-websites

 

primary research helps.

the idea is to obtain as much information as possible about the competition, including what they say to their customers.

Term
promotions opportunity analysis
Definition
is the process marketers use to identify target audiences for a company's goods and services and the communication strategies needed to reach theses audiences.
Term

opportunities

(communication market analysis)

Definition

carefully watching for new market communiation opportunities by examining all of the availible data and information about the market.

 

 1.Are there customers that the competition is ignoring or not serving?

 

2.Which markets are heavily saturated and have intense competition?

 

3.Are the benfits of our goods and services being clearly articulated to the various customer market segments?

 

4.Are there opportunities to build relationships with customers using a slightly different marketing appoarch?

 

5. are there opportunities that are not being pursued, or is our brand positioned with a cluster of other companies in such a mannera that it cannot stand out?

 

 THE PURPOSE OF ASKING THESE Q's IS TO EXPORE NEW COMMUNCATION OPPORTUNITIES.

Term

target market.

(communication market analysis)

Definition

examining various target markets.

requires the marketing dept. to recognize the needs of various consumer and bussiness groups.

determine various ways in which the customer can be reached and also determine the neeeds and wants of indivual groups.

 

Demographics**

THE GOAL IS TO DIVIDE THE OVERALL MARKET INTO SMALLER MARKET SEGMENTS.

Term

customers

 (communication market analysis)

Definition

3 types of customers are studied :

 

1.current company customers

2.the competition's customers

3.potential new cutomers

 

THE POINT IS TO UNDERSTAND HOW PEOPLE IN EACH GROUP THINK, WHY THEY BUY, WHEN THEY BUY, WHERE TO BUY, AND HOW THEY EVAULUATE A PRODUCT AFTER A PURCHASE.

Term

product positioning

 (communication market analysis)

Definition

the quality of products, prices charged, methods of distribution, image,communication tactics, and other factorscreate positioning and are, in turn, affected by the brand's position.

 

Product positioning strategies:

-attributes

-competitors

-use or application

-price-quality relationship

-product user

-product class

-cultural symbol

 

is the preception created in the customers mind?

Term
establishing marketing communications objectives

(the second step of a promotions opportunity analysis)
Definition
Communication objectives help account executives and advertising creatives design effective messages.
communication objectives:
-develop brand awareness
-increase category demand
-change customer beliefs or attitudes
-enhance purchase actions
-encourage purchase actions
-build customer traffic
-enhance firm image
-increase market share
-increase sales
-reinforce purchase decisions

Marketing objectives address:
-sales volume
-market share
-profits
-return on investments
Term
benchmark measures
Definition
a starting point that is studied in relation to the degree of change following a promotional campaign.
Term
establishing a communcations budget
(the third step of promotions opportunity analysis)
Definition
communications budgets differ between consumer marketsa and bussiness to bussiness markets. several factors influence the relationship between expenditures on promotions and sales, including :
-the goal of the promotion
-threshold effects
-carryover effects
-wear-out effects
-random events
Term
hierarchy of effects model
Definition
clarifies the objectives of an advertising campaign and for each indivual advertisment.
Term
Definition
hierarchy effects model (visual)
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