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33 Cards in this Set
- Front
- Back
marketing
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process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy indiv and org objs
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relationship mktg
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>1x exchange
focus: lifetime value of customer |
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mktg mix
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product
price place (distribution) promotion |
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IMC
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concept of mktg comm taht recog added value of a comprehensive plan that evals the strategic roles of a variety of comm disciplines ... and combines them to provide clarity, consistency, and max comm impact
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IMC becoming more impt
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shift from ad to other forms of comm
fragmentation of mass audiences power shirt from manuf to retailers database mktg growth of internet increased role of branding |
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promotion
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comm function of mktg
coordination of all seller-initiated efforts to set up channels of info and persuasion to sell g/s or promote an idea |
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promotional mix
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advertising
direct mktg interactive/internet mktg sales promotion publicity/pr personal selling |
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advertising
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any PAID form of nonpersonal comm about an org, product, service, or idea by an identified sponsor
+: can control mssg, cost effective, create/maintain brand equity -: cost prohibitive, diff to measure/def effectiveness, clutter |
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direct mktg
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orgs comm directly w/customers to generate a response/transaction
ex: dell, ll bean +: customization - use of tech -: clutter, image problems |
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interactive/net mktg
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back/forth flow of info whereby users can participate in and modify the content they receive in real time
ex: sites w/games to draw customers +: low cost |
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sales promo
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provide extra value/incentive to the sales force, distributors, or the end consumer and can stimulate immed sales
consumer oriented: coupons, rebates trade-oriented: car dealers +: appeals to price sensitive consumers, can bump up interest, easier to measure success -: easy to become overreliant (customers only buy on sale), sales promo wars (mut destruction), decrease brand equity |
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publicity and pr
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publicity: non personal comm about an org, p/s, or idea that is not paid for/run under ided sponsorship (+credibility, -no control)
pr: mgmt function which evals public attitudes, id public policies, and execute a program of action to earn public understanding/acceptance |
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personal selling
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p2p comm whereby a seller attempts to assist and/or persuade prospectives to purchase a p/s
+: can directly tailor mssg, immed direct feedback -: overall mssg can get diluted, cost |
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IMC planning model
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provides a framework for developing and implementing an org's IMC program
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opportunity analysis
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where are customer needs/wants not being met?
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competitive analysis
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who are competitors? what's your comp adv?
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target mktg process
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id mkts
group pot customers into mkt segments select a target mkt det how to position the product |
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segmenting
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break mkt into meaningful groups which will vary based on the product
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customer char
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geographic
demographic psychographic - lifestyle |
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buying situations
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outlet type
usage awareness/intentions behavior |
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positioning
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product attribute/benefit
price/quality use/application product class product user competitor cultural symbol repositioning |
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3 organizational designs
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centralized
decentralized in house |
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centralized
ad manager |
responsible for all ad and promo activities, including planning and budgeting, execution and coordination w/other depts and outside agencies
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decentralized
brand/product manager |
responsible for total mgmt of the brand (managing entire mktg program, overseeing planning, budget, sales, and profit perf)
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in house
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less objectivity
lack of experience |
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why use an outside agency
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gain skills not found in house
objectivity experience |
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full service agencies
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offer clients full range:
creative, account, mktg services |
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creative boutiques
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specialize in and provide only ad creative services
often founded by creative depts of full service firms who strike out on their own very diff to succeed |
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media buying specialists
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indep companies that specialize in media planning and buying
most freq used by TV/Radio Agencies and companies develop their ad strategies then hire a buying service to implement |
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direct response agencies
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database mgmt
direct mail research media services creative production |
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sales promo agencies
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promotion planning
creative work research coordination w/ads contest/sweepstakes dev database mktg |
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pr/publicity
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mssg and strategy dev
damage control gen publicity image portrayal lobbying public affairs |
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interactive specialist
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interactive media creation
digital content creation |