Term
| 4 elements of the Promotional Mix |
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Definition
1 advertising
2 personal selling
3 sale promotion
5 publicity and public relation |
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Term
| Promotional mix: Advertising |
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Definition
| non-personal communication from identified sponsor using mass media |
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Term
| Promo Mix: Personal Selling |
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Definition
| Direct interaction between company representative and consumer |
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Term
| Promo Mix: Sale Promotion |
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Definition
Short term incentives
- encourages sales during a SPECIFIC time period |
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Term
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Definition
Portrays organization and produces positivity
- gives people a positive perception of your business |
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Term
Communication Model (5 elements)
what are they?
Using TV ad example fill them in accordingly |
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Definition
1. Source- brand
2. Message- what they want us to know or understand
3. Medium- transmission(TV)
- noise/interference: anything that interrupts message
ex. other commercials
4. Receiver- Us/Audience
5.Feedback- what did we think? |
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Term
Decoding and encoding
- to be effective they must...
- decoding defn |
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Definition
- they must match up
- decoding: process of assigning meaning to message by reciever
- message personally relevant, source is someone receiver likes, creatively executed, receiver pays attention to medium |
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Term
AIDA
what does this stand for |
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Definition
Attention
Interest
Desire
Attention |
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Term
Types of appeals
-rational
-emtotional |
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Definition
rational: use your thinking
emotional: Peripheral- EOM model |
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Term
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Definition
| non personal communication paid for by a known sponsor that uses mass media to persuade, inform, and remind audience |
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Term
Product Ad
- defn
- purpose |
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Definition
Defn: message focuses on a specific product
Purpose: educate people about a new product and what it does
- emphasize a brands features and try to convince the target market to choose it over other options |
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Term
Who creates an Ad?
Designing the Ad? (creativity)
Selecting Ad Media? (factors) |
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Definition
who creates?
-coordinated comprehensive plan
- it carries out promo objectives/results in a series of ads over a period of time
Designing the Ad:
creative strategy is a process that turns concept into an Ad
- creatives try to develop new idea
Selecting Ad Media
1. reach frequency and impact
2. choose among major TYPES
3. select specific media VEHICLE
4. decide on media TIMING |
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Term
Types of Ads: Television
pros/cons |
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Definition
pros:
- creative
- prestigious
- high impact messages
- network tv/cost effective for mass media
Cons
- quickly forgotten
- requires frequent repetition
- fragmented audiences
- shorter ads=clutter |
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Term
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Definition
Pros
- good for selecting target market
- heard out of house
- low cost
Cons
- listeners may not pay very much attention |
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Term
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Definition
Pros
wide exposure and extensive market coverage
Cons
most don't spend time reading newspapers |
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Term
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Definition
Pros
narrowly targeted audiences by specialized magazines
Cons
expensive
long deadlines |
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Term
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Definition
Pros
very high reach
low cost
Cons
Hard to communicate complex messages |
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Term
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Definition
| schedule of how much to spend each month and on what type of advertising |
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Term
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Definition
identify amount of money you can afford to spend on promotions, then let it filter down to the activities
(CHEAPER/SIMPLER/EASIER) |
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Term
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Definition
Identify what the goal is, then let the goal determine how much you spend
- more thorough/complex/takes more money and time!
- if have the money/time, this is the best |
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Term
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Definition
| Match what your competition is spending on promotion |
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Term
Buzz
Viral
Stealth
Guerrilla Marketing
DEFN EACH |
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Definition
Buzz- word of mouth from customers, usually authentic
Viral Marketing- video clips, interactive games (with ads for product in them)
Stealth- marketers acting as "consumers" to deceive people about the involvement of their product
Guerrilla- ambush customers with promos in places they would not expect |
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Term
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Definition
Push- -if I put my product in front of consumers eyes they will buy it, give incentives to retailers so your product can get on the shelf
Pull
-consumer demands the product (focus on consumer so that they pull it through the channel)
- consumer requests product to the retailer |
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Term
Gross rating points GRP
how to calculate
what does it measure? |
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Definition
calculates how many impressions your going to get
Frequency x Reach
OR rating x number of ads=GRP
compares media vehicles |
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Term
Cost per thousand
how to calculate? |
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Definition
cost to deliver a msg to a thousand people
= cost of ad/(# of people targeted/1000) |
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Term
Evaluating Recall:
Unaided recall vs Aided Recall |
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Definition
research by telephone survey/personal interview
Unaided: ask person if they remember an Ad during a specified period without giving brand name or something assc with it
Aided: test uses name of brand or something similar to help prompt answers |
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Term
Brand Placement
-Defn
-3 types |
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Definition
-Practice of integrating specific products and brands into filmed entertainment
- name brand product is used as a prop or set in TV show or movie
- increase brand awareness and image
1. Verbal- it is mentioned (makes a hole in one and says he drank redbull right before)
2.Visual-brand can be observed on set (if happy Gilmore sees a sign for an ad, all he does is see it does not interact)
3.Hands on- interacted with (also visual) (Happy Gilmore subway commercial) |
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Term
Movie: ET and Reeses
- reeses sales increased by how much? |
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Definition
60%
other examples
Castaway- FedEx
Talladega Nights- Ricky Bobby and wonder bread |
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Term
Brand Placement research
-Delorme and Reid
- Russell |
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Definition
Delorme and Reid 1999
- liked brands increased movie going experience
- made film more enjoyable and realistic
- caused greater identification with character
Russell, 2002
- congruous placements are more persuasive
- incongruent placements were easier to recall |
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Term
Trade promotions (2 types)
- discounts and deals
- boosting and boasting |
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Definition
Discounts and deals: merchandise allowance, case allowance. Price break on the product
Industry boosting and boasting: trade shows, promotional products( give to other people with your name on it), incentive programs( who ever sells the most of my brand I will give you some type of reward) |
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Term
| Types of Sales people (3 types) |
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Definition
1.Order taker: person you call that takes your order
2.Missionary salesperson: someone out there promoting the product but cant actually sell you the product ( A doctor/ Pharmaceutical rep)
3.Order Getter: Person can sell the product to you (Bartels can sell me prescription drugs) |
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Term
Types of selling
- relationship
- transactional
- which one is related to CRM? |
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Definition
Relationship selling: focus on relationship
- seen as a consultant, has companies/customers best interest in mind
Transactional selling: focus on one time sale, only on transaction, not too concerned about building customer relationship
CRM is related to relationship management |
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Term
Types of Sales Force Commissions (5)
important ones
1. straight comission
2. comission-with-draw
3. Straight Salary
4. Combination |
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Definition
Straight commission plan (TRANSACTIONAL SELLING)
-Commission-with-draw plan (loan out of commission, owe back at end of month)
-Straight Salary Compensation plan
-Qouta-Bonus Plan
-Combination plan- most companies do this
(some salary with commission of sales) |
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Term
Public Relations
what does it do |
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Definition
Attempts to influence the way consumers, stockholders and other publics feel about companies, brands, politicians, celebrities
- Tylenol and tamper proof packaging
- Issue Press release to shift peoples view about your company |
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Term
Promotional Mix Impact
- how can you tell if it was effective? |
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Definition
-how do you measure effectiveness?
-QR codes (can track this measure/how many times it was scanned)
you need some sort of way to measure if your promotional campaign was successful! |
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