Unformatted text preview:

ADV3008 FINAL EXAM STUDY GUIDE I Love Saving Money PRICE INCENTIVE SALES PROMOTION Integrated Marketing Communication IMC A management concept designed to make all aspects of marketing communication work together as a unified force cid 120 Advertising cid 120 cid 120 Sales promotion Public relations Sales Promotion A direct inducement which offers an extra value or incentive for the product to the sales force distributors or the final consumer with the primary objective of creating an immediate sale cid 120 Incentive to behave in a certain way short term behavior oriented Advertising vs Sales Promotion cid 120 Creates an image over time cid 120 Relies on emotional appeals o Advertising to the heart o Sales promotion to the wallet Contributes somewhat to profitability cid 120 cid 120 Adds intangible value Sales Promotion vs Advertising Creates immediate action cid 120 cid 120 Rational appeals cid 120 cid 120 Adds tangible value Coordinating Promotions Contributes significantly to short term profitability cid 120 Awareness before promotion cid 120 Speak with one voice if ad focuses on college student promotion should focus on college students Behavioral Learning cid 120 cid 120 Future behavior is determined by reinforcement accompanying past behavior Promotional tools act as reinforces along with product performance the primary reinforcement to increase the probability of repeat purchase o Get coupon for Dannon yogurt so buy it instead of Chobani o Sales promos can t save a failing product Shaping the process of learning a complex behavior by learning a series of successive approimations of the final behivor cid 120 Errors in implementations improper fading overuse o Overuse danergouse because then consumer is always expecting coupons and won t pay full price i e Bed Bath Beyond Price Oriented Promotional Tools Samples products given to consumers free of charge opportunity to try the product before making a purchase cid 120 Eliminate financial risk inconvienence Samples effective when ADV3008 FINAL EXAM STUDY GUIDE cid 120 Brand is clearly superior cid 120 cid 120 cid 120 Attitudes or behaivors must be created or changed Product comes in limited varieties Purchase cycle is short i e soft drinks o i e diet drinks are for women but Coke Zero is for men Coupons certificates presented to a dealer that give the bearer a stated savings on the purchase of a product likely users are current users of the product retains current users encourages brand switching increases in home inventory amount of product your currently have at home i e shampoo PB lengthens purchase cycle Money Refunds Rebates a partial refund following a purchase consumer purchases product then mails in proof of purchase then the refund will be sent at a later time redemption problems o delay of reinforcement o effort required cid 120 cid 120 cid 120 cid 120 cid 120 cid 120 I Get What I Don t Have to Pay for It ADDED VALUE SALES PROMOTION Added Value Promotions cid 120 Product is sold at full price cid 120 Consumers get more for their money cid 120 Doesn t reduce price value ratio Premium an extra item offered at a low price or free as an extra incentive to purchase Objectives of Premiums cid 120 Encourage brand switching cid 120 Trade up to larger size cid 120 cid 120 Put a long term message in front of the consumer Increase repeat purchase Methods of distribution In package In store cid 120 cid 120 cid 120 Package itself cid 120 Mail cid 120 Online Sweepstakes A game where participants have an equal chance of winning a prize but make no payment to enter cid 120 Increase awareness and engagement Lottery sweepstakes with a charge to enter illegal in most situations donations from non profit organizations ADV3008 FINAL EXAM STUDY GUIDE Contest winners selected based on skill charge to enter Promotions to Retailers More money spent than on consumer promotions Objectives cid 120 Retail incentive to push vs pull product cid 120 Maintain or increase distribution cid 120 Maintain or expand shelf space cid 120 Preempt competition cid 120 Change consumer purchase patterns Types of Retail Promotions cid 120 Buying allowances cid 120 Advertising allowances co operative advertising temporary price reductions from manufacturer to retailer o o o Payments by the manufacturer to the retailer o Funding of the retailer s advertising of the product cid 120 Contests cid 120 Sweepstakes cid 120 Point of purchase P O P promotional materials placed at the point of purchase o Types of P O P cid 131 Outside signs cid 131 Window displays cid 131 Counter displays cid 131 Display racks cid 131 Banners posters cid 131 Shelf talkers o P O P Objectives Increase consumer learning Increase purchase behavior Low cost production and implementation cid 131 cid 131 cid 131 cid 131 Ease of evalution o Good P O P for Retailers cid 131 Monetary incentive cid 131 Tied to other items cid 131 Easy to set up I Want You To Want Me PUBLIC RELATIONS Public relations a management function that formulates and executes a program of action to earn the understanding and goodwill of its publics NOT FREE advertising if it s free it s not advertising since you have no control ADV3008 FINAL EXAM STUDY GUIDE Differences between Advertising and Public Relations Goals cid 120 Advertising inform persuade and remind target to buy specific brands of products cid 120 PR develop understanding and goodwill favorable attitudes not as sales oriented cid 120 PR seen as more credible o Not as filtered staged not creating a billion dollar commercial cid 120 Major advertising costs media time space cid 120 Major PR costs non media cid 120 Advertising more control over message since you re paying big for it cid 120 PR less control over message Credibility Cost Control Interest cid 120 Advertising editorial interest not very important cid 120 PR critical to success If the editor of newspaper is not interested in your story won t be covered o Buying time or space so doesn t matter if they re not interested o o Advertising more likely to have a business background o PR more likely to have a journalism background Similarities between Advertising and Public Relations cid 120 Personal cid 120 Stimulate interest in a target group cid 120 Research based situation analysis o Specific group of people i e legislators o o What is it that we re trying to achieve i e gathering facts to get started cid 120 Specific objectives cid 120 Detailed knowledge of media Reasons to Use Public Relations cid 120


View Full Document

FSU ADV 3008 - FINAL EXAM

Documents in this Course
Exam 3

Exam 3

12 pages

Exam 1

Exam 1

4 pages

Notes

Notes

1 pages

Exam 1

Exam 1

6 pages

Test 2

Test 2

11 pages

Test 2

Test 2

10 pages

Exam 2

Exam 2

14 pages

Test 2

Test 2

26 pages

Copy Cats

Copy Cats

47 pages

Exam 3

Exam 3

20 pages

Exam 1

Exam 1

20 pages

Load more
Download FINAL EXAM
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view FINAL EXAM and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view FINAL EXAM 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?