WVU MKTG 380 - Exam 2 Study Guide (4 pages)

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Exam 2 Study Guide



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Exam 2 Study Guide

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Pages:
4
Type:
Study Guide
School:
West Virginia University
Course:
Mktg 380 - Integrated Promotions
Integrated Promotions Documents
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MKTG 380 1st Edition Exam 2 Study Guide Chapter 11 Database marketing Two steps Identifying customer and building relationship Geocoding adding geographic codes plot on map combine with demographic lifestyle infor and identify cluster Consumer lifetime value represents the profit revenue of a customer throughout the lifetime of the relationship Purpose of data mining develop marketing communications and programs Internet and customer communications low cost available 24 7 customer access to additional info build bond with a customers Permission marketing consumers give permission can be offered through internet phone or mail Highest response rate frequency programs reward loyalty encourages repeat purchases Customer relationship management data base tech many CRM programs failed CRM reasons for failure implemented before a solid customer strategy is created rolling out CRM program before changing the organization to match the crm program Direct mail Most common form of direct marketing Types of list response list or complied list Direct sale consumer direct sales Host parties amway mary kay avon Catalogs long term impact low pressure sales first stage in buying cycle Chapter 12 Coupons 300 billion printed 2 5 billion redeemed average value 1 55 80 house hold use Coupon distribution manu issues about 80 freestanding inserts 90 most pop Disadvantages of coupons reduced reve 80 used by brands necessary evil Keys to successful premiums match the premium to the target market premium reinforce the firms product integrate the premium and don t expect premiums Contests require activity and skill can require purchase to enter sweepstakes must publish odds cannot require purchase can enter as many times as want Perceived values of sweepstake extrinsic value attractiveness of prize Intrinsic value fun skill Refunds soft goods Rebates hard goods Sampling delivery of free goods or service b 2 b consumer survey Planning consumer promotion support brand image and position strategy Trade promotions consist of trade allowances trade incentives trade shows and trade contests Trade allowance financial incentives to channel members Slotting and exit fee slotting fees funds charged by retailers to stock items retailer justification manu objections exit fees Trade incentives consist of cooperative merch agreement premium or bonus pack co op advertising programs Chapter 13 Public relations and its functions department of communications develop strategy that fits with IMC Examples of activities affecting a company s image image destroying and image building Cause marketing partnership with charity supporting cause can create bond Benefit of cause related marketing additional customer increase profit goodwill for the future Green marketing and its segmentation product environmentally safe consumer support but only when equal Preventing image damage damage control negative publicity and events Proactive prevention strategies entitling and enhancements 4 types of reactive strategies internet interventions crisis management apology strategies impression management Sponsorships and its forms and objectives build brand equity positive feelings ex enhance company image Chapter 14 Government regulatory agencies Food and drug admin federal communications commission us postal service bureau of alcohol federal trade commission FTC created in 1914 by passing federal trade commission act presides over marketing communications Unfair and deceptive advertising 1938 wheeler lea amendment an advertisements or communication is deceptive or misleading Deception claim is factual statement Puffery an exaggerated statement and not factual statement Claims must be substantiated FTC process consent order administrative complaint courts and legal channel corrective advertising trade regulation rulings Council of BBB bureau keeps record of complaints provide summary report on companies CARU guidelines cases involving children 12 and under online privacy practices of web sites Concerns and criticism of advertising 1 Causes people to buy more than they can afford 2 Overemphasizes materialism 3 Increases the costs of goods and services 4 Perpetuates stereotypes 5 Makes unsafe products such as alcohol and tobacco seem attractive 6 Is often offensive 7 Advertising to children is unethical Ethics consumers buy more than they can afford Chapter 15 Evaluation categories message evaluation tech online evaluation metrics respondents behavior evaluations online evaluation metrics respondent behavior evaluations Message evaluations every stage of deve concept testing after ad design pretesting not used widely by agencies Ad tracking respondents shown brief portion of ad or stills with brand name removed Copy testing finished or final stages of dev and evaluates main message Emotional reaction test affective advertisements and used for materials designed to elicit emotions Online evaluation metrics click through primary measurement Behavioral evaluation only evaluation measures results not all communications objectives Test markets used to assess Evaluating IMC greater demand for accountability ROI of advertising and marketing no agreement of marketing ROI


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