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MAR 3023 fall 2013 Dr. Mike BradyExam 4 Review SheetGeneral Overview of the Exam 4 Content:- Integrated Marketing Communicationso Know what a promotion is and understand what the purposes of promotion are Promotion: Encouragement of the progress, growth, or acceptance of something; furtherance. In Marketing: Promotion One of the four elements of the marketing mixThe communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision.-Proctor & Gamble (P&G) Advertise the most. Own a ton of different products. o Know the elements of the promotion mix (APPS) and be able to identify examples of each -They have to think about the competitors, regulations, type of product, etc before they deal with APPS. APPS:-Advertising is a paid, non-personal communication about an organization and its products transmitted to a target audience through mass media.-Personal selling is a paid, personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation.-Public relations is a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders.-Sales promotion is an activity or material that acts as a direct inducement offering added value or incentive for the product to resellers, salespeople, or customersEx: free samples, games, rebates, sweepstakes, contests, premiums, and coupons.o Know what integrated marketing communications (IMC) are and why companies use themIMC: Coordination of promotion and marketing efforts for maximum impact. All of the things a company does from a promotional sense in order to send a single message to consumers. Ex: Everytime the Redsocks stole a base at world series, people got a free taco. Fans loved it. o Know the difference between the traditional promotion mix and IMCTraditional- Marketing, sales, PR, point of purchase, special events, and etc were all separate. IMC- Takes all those things and coordinates them so they fit together in order to helpconsumers understand and like them. Everything fits together so that the whole is better. o Know the goals of IMC and an example -Consistent message to customers-Coordinate/manage promotional efforts-Synchronization of promotional elements-Use more precisely targeted promotional toolso Understand the difference between a push and a pull promotion strategy and be able toidentify an example of each from a scenarioPush policy-Promoting a product only to the next institution down the marketing channel.-The producer promotes the product to wholesalers, the wholesalers promote it to retailers, andthe retailers promote it to consumers.Ex: Trade shows and personal selling-Push money: also known as "spiffs". An extra commission paid to retail employees to push products. Pull Policy-Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel.Ex: Children’s toys. Advertise so well that the child begs the parent for the toy, making the parent go to the store to demand that toy. -Ford Australia only produces a car when one is ordered by a customer; Dell did the same thingo Understand the communication process and that messages are sent through channels and know what channels areCommunication Process: The process that describes the exchange of information between two or more people.-Messages are sent through channels- Email, Phone, Mail, In Person, Etc. o Know the elements of the communication process: Source/sender -> encoding information -> message development -> media -> decoding -> feedback -> source/sender. Know what each of these are, parts of each, and what noise is.1. Source/Sender (has original information)- the person/organization that has information to share. •Company•Salesperson**•Celebrity – have “Q-scores”. (Q stands for quality) considers two factors:-Consumers level of familiarity with a name: % who have heard of her/him-The number of respondents who indicate that a person, program or character is a favorite. -The score is calculated by dividing the two numbers. Divide favorite #/Familiarity #. -Some argue that Q is better than NielsenEx: So if 50% are familiar and 10% list as a favorite, then the score is 20. -The average is 18•TVQ rates broadcast television programs• Cable Q rates cable television programs• Performer Q rates living celebrities• Dead Q rates the current popularity of deceased celebrities• Sports Q rates sports figures• Cartoon Q rates cartoon characters, video games, toys and similar products• Brand Attachment Q rates brand and company name.2. Encoding Information- The process of the sender putting words, thoughts, and messages into symbolic form in such a way that they will be understood by the receiver/consumer. Writing on a paper, talking to someone, etc. -symbols are particularly good for this. Ex: Starbucks green lady symbol3. Message Development- The Channel: how the communication travels from the source to the receiver.Two types:1.Nonpersonal channels – no personal contact with consumer-Print, broadcast, etc2. Personal channels – involves direct contact. Best are through TV and Internet.-Direct selling-Salespeople-WOM-“Buzz marketing”4. Media- Buzz Marketing: a subset of “viral marketing” wherein companies hire socially active consumers to promote products to their friends, relatives, and acquaintances.- consumers are typically unaware that the person is on the “payroll” - ex: Sony Ericsson used undercover marketers to act like tourists for the purpose of promoting its digital camera phone.- P&G’s Tremor company employs 250,000 teens between the ages of 13-19 to promote its products.5. Decoding- the process of transforming the message back into thought.•The key is for the decoded message to resemble the encoded message.•Problems can occur if there is too much…Decoding Gone Wrong:Panasonic created a new web browser and had received license to use the cartoon character Woody Woodpecker as an interactive internet guide. The day before the huge marketing campaign, Panasonic realized its error and pulled the plug. Why? "Touch Woody - The Internet Pecker.”Noise-anything that interferes with or distorts the message.6. Feedback- The final piece of the communications process. The receiver’s response to the message.-Can be difficult to assess-One way to get feedback from objective


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FSU MAR 3023 - Exam 4

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