MAR 3023 Fall 2014 Dr Mike Brady Exam 4 Review Sheet General Overview of the Exam 4 Content Integrated Marketing Communications o Know what a promotion is and understand what the purposes of promotion are encouragement of the progress growth or acceptance of Promotion something furtherance Purpose of influencing informing or persuading a potential buyers purchasing decision o Know the elements of the promotion mix APPS and be able to identify examples of each Advertising Personal selling Public relations paid personal communication that seeks to inform customers paid non personal communication about an organization and its products transmitted to a target audience through mass media and persuade them to purchase products in an exchange situation maintain favorable relationships between an organization and its stakeholders offering added value or incentive for the product to resellers salespeople or customers a broad set of communication efforts used to create and an activity or material that acts as a direct inducement Ex free samples games rebates sweepstakes contests coupons Sales Promotion o Know what integrated marketing communications IMC are and why companies use them Integrated marketing communications marketing efforts for maximum impact o Know the goals of IMC and an example coordination of promotion and Goals consistent message to customers coordinate manage promotional efforts more precisely targeted promotional tools o Understand the difference between a push and a pull promotion strategy and be able to identify an example of each from a scenario Push policy promoting a product only to the next institution down the marketing channel producer promotes the product to wholesalers wholesale promotes to retailers who promote to customers Trade shows and personal selling Pull policy promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel o Understand the communication process and that messages are sent through channels Children s toys and know what channels are Communication process between two or more people Channels letters email in person the process that describes the exchange of information 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 The source the person organization that has information to share Company salesperson celebrity Q score Q score quality divides the level of familiarity with a name by the number of respondents who indicate that a person or character is a favorite the process of putting words thoughts messages into symbolic form in such a way that they will be understood by the receiver consumer symbols how the communication travels from the source to the receiver The channel Encoding Nonpersonal no personal contact print broadcast Personal involves direct contact salespeople WOM Buzz marketing the process of transforming the message back into thought Noise anything that interferes with or distorts the message the receivers response to the message 3 successive stages Cognitive thinking stage receiver becomes aware of message Affective feeling stage where the receiver forms a liking or preference Behavioral doing where the receiver acts on preference Decoding Feedback Response o Know what advertising is and what effective adverting can do for a company Advertising target audience through mass media a paid form of nonpersonal communication that is transmitted to a Effective ads influence customers purchasing behavior throughout their lifetimes o Know all parts of the six point advertising strategy Primary purpose what is the purpose of our ad Primary benefit what unique benefit can we offer Secondary benefit what other key benefits will customers receive from product Target audience at whom are we aiming this ad Audience reaction what response do we want from our audience Company personality what image do we want to convey o Understand different advertising mediums and an example of each Movies TV and video games Product placement mentions interactivity Newspaper direct mail magazines Advertising and PR Coupons flyers classified ads Sports Soccer Nascar Volleyball o Understand the different types of advertising and be able to recognize each one think of Product advertising promotes the used features and benefits of specific an example of each one products Pioneer primary demand Advocacy advertising Competitive focuses on a product category conveys a firms position on a public issue points out a brands advantages relative to competing brands Comparative compares 2 or more brands on 1 or more characteristics Reminder reminds customers of an established characteristics and benefits Reinforcement assures current users they have made the right choice o Know what the next wave of advertising is and why Mobile ads advertisements sent to mobile phones or other wireless devices o Understand new frontiers in advertising What is the current state Why is this not working and what are companies doing that is new Current state with all the advertising clutter recall of a typical ad is 10 o Know the different advertising schedules and an example in which it would make sense to use each one Continuous products Flighting Pulsing runs steadily throughout the year good for continuously used runs in spurts heavy non good for seasonal products a combination runs steadily but with bursts at certain times o Know how advertising is measured in reach frequency and effectiveness Reach the percentage of consumers in the target audience exposed to a particular ad in a stated period advertisement Frequency the number of times these targeted consumers are exposed to the o Know what Nielsen ratings are as well as why and how they are used Nielsen composition of TV audiences an audience measurement system designed to assess the size and Uses a people meter that has the capability to measure each household members viewing habits o Understand print media and the use of advertising Print media 54 of mag revenues comes from ads almost 80 of households subscribe to or purchase magazines Circulation primary circulation subscribers pass along readership number of people who read the mag after the primary subscriber total circulation primary x pass along o Know what Public Relations is and some companies that are successful in their PR efforts communication efforts used to create
View Full Document
Unlocking...