Term
| Integrated Mktg Communications |
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Definition
coordination of promo & mktg efforts ↓ max. info & persuasive impact send consistent message ↓ costs |
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Definition
| sharing of meaning through transmission of info |
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| "Persuasive" coding / media channel |
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Definition
media's appeal matches receiver's personality (ex. Cheerios aren't going to list ingredients on Nick Jr. ads) |
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Definition
be careful when translating messages Coors's "Turn it Loose" ↓ Spanish ↓ "Drink Coors & get diarrhea" |
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Definition
| converting meaning → series of signs & symbols |
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Medium must appeal to target mkt. (ex. Beer & NFL) |
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Definition
limit on how much info a comm. channel can handle (ex. speed-talking) |
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Definition
communication that builds & maintains relationships informs & persuades *can be managed *utilizes integrated mktg. communications |
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Term
| Promotion Objectives (x8) |
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Definition
Create Awareness Stimulate Demand Encourage Product Trial Identify Prospective Customers Retain Loyal Customers Assist Reseller Support Combat Competitors ↓ Sales Fluctuations |
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Term
| Steps to Create Demand for a new Product / Line |
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Definition
Primary Demand - for the product category Pioneer Promotion - informs about a new product Selective Demand - for the brand ex. (Apple iPod - demand for music players → iPods available → Apple products) |
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Term
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Definition
stimulate product trials (ex. coupons, test drives, "30-day returns") |
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Term
| Promo efforts - Retain loyal customers |
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Definition
frequent-user programs, reward programs, etc. (ex. Best Buy's "Reward Zone") |
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Term
| Promo efforts - ↑ Reseller Support |
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Definition
promo efforts should support the reseller ex. paying % of reseller advertising $$$ OR issuing coupons in reseller's mkt. |
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Term
| Promotion Mix (def. & x4) |
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Definition
combo of methods → promote a specific product - Advertising - Personal Selling - Public Relations - Sales Promos |
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Term
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Definition
1. paid for 2. identified sponsor 3. expensive 4. time-specific/limited 5. 1-way *transmitted through mass media **slow feedback & difficult to measure impact |
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Term
| Personal Selling (def. & pros/cons) |
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Definition
paid personal communication to inform & persuade customers to purchase Pros - feedback, typically more successful Cons - ↑ $$$/person, P.O. customers |
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Term
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Definition
focus on "other stakeholders" (ex. suppliers, employees, media, gov, etc.) Mediums: News Releases, stories, word of mouth, etc. **Super Bowl parties, publicity, etc. |
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Definition
form of Public Relations - free -no "direct" control - good or bad GOALS: 1) make it favorable 2) respond to rumors/events |
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Term
| Sales Promos (def. & examples) |
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Definition
Direct inducements, offering ↑ value & incentives (ex. coupons, contests, rebates, samples, etc.) |
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Definition
What do you hope to accomlish? Constraints? - ↑ Awareness - ↑ Sales - Positive Org. Image - Budget Size - Target Market Profile - Product Type - Product Life Cycle |
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Definition
promotes only to next spot down the mktg. channel *stresses personal selling |
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Promotes directly to consumers * ↑ consumer demand "pulls" products through mktg. channel |
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Word-of-mouth opinion leaders |
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Term
| Effective Communication Program (x6) |
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Definition
1) Identify Target Audience 2) Objectives 3) Message 4) Medium 5) Message Source 6) Collect Feedback |
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"Designing Message" A - grab Attention I - hold Interest D - arouse Desire A - obtain Action |
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Definition
Affordable - Whatever you can afford to spend % of Sales - easy to calculate, dependent on sales Competitive Parity - you spend what competition spends (can be based on mkt. share) Objective Task - identify objective → what tasks will achieve it |
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