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27 Cards in this Set
- Front
- Back
promotions opportunity analysis
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process marketers use to identify target audiences for a company's goods and services and the communication strategies needed to reach these audiences
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five steps in promotion opportunity analysis
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conduct a communications marketing analysis
establish objectives create a budget prepare a promotional strategy match tactics with strategy |
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conduct a communication market analysis
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SWOT
competitors opportunities target markets customers product positioning |
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competitive analysis
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identifies major competitors
indentifies communication strategies and tactics of each competitor |
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opportunity analysis
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explore new communication opportunities
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target market analysis
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identify the benefits customers are seeking and determine the various ways to reach them
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customer analysis
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current
competitors potential what goes on in the minds of customers |
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establishing marketing communications objectives
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guide in designing a message
oriented toward a single objective |
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threshold effects
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for new products, initial ads yield little behavioral response.
with time and exposures, recall and willingness to purchase increases |
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concave downward function
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an incremental expenditure in advertising will result in lower increases in sales
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marginal analysis
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at some point additional advertising expenditures with have an adverse effect on profits
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carryover effect
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promoting for products only purchased when needed comes to mind when its time to buy
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decay effect
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when consumers forget about the company after advertising stops
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random events
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9/11 - no one could use funny advertising
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percentage of sales
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sales from the previous year or anticipated sales
simple not used - too many disadvantages works opposite of what needs to happen |
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meet the competition
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prevent loss of market share
could be a waste |
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what we can afford
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set after everything else is allocated for
view marketing as non essential |
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objective and task
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estimates the cost of accomplishing each objective
best difficult for large companies |
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payout planning
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establishes a ratio of advertising to sales or market sales
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quantitative models
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computer simulations
far from perfect limited to larger organizations |
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match tactics with strategies
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tactics support the communication strategies
halloween coupons gift certificates rebates themes |
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market segmentation
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identifying specific purchasing groups based on their needs, attitudes, and interests
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test to determine if a particular market segment is viable
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homogeneous
different from the population as a whole large enough reachable |
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geodemographic segmentation
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indentifies potential customers from demographic information, geographic information, an pyschographic information
direct mail PRIZM |
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benefit segmentation
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focuses on the advantages consumers receive from a product rather than the characteristics of consumers themselves
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usage segmentation
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20/80 rule
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b2b segmentation
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NAICS/SIC code
type size location usage values |