Exam 4 Review Sheet This sheet is intended to help you organize your notes so that you can study more effectively This sheet is NOT intended to be a comprehensive review of all the material covered in class so do not assume that it will take the place of coming to class or taking good notes Nor is the test limited to just this material General Overview of the Exam 4 Content Integrated Marketing Communications o Know what a promotion is and understand what the purposes of promotion are Promotion encouragement of the progress growth or acceptance of something One of the four elements of the marketing mix The communication link between sellers and buyers for the purpose of influencing informing and persuading a potential buyer s purchasing decision o Know the elements of the promotion mix APPS and be able to identify examples of Advertising a paid non personal communication about an organization and its products transmitted to a target audience through mass media Personal selling paid personal communication and persuade them to purchase products in an exchange situation Public Relations broad set of communication efforts used to creat and maintain favorable relationships between an organization and its stakeholders Sales promotion an activity or material that acts a direct inducement offering added value or incentive for the product to resellers salespeople or customers free samples games rebates sweepstakes contests premiums and coupons o Know what integrated marketing communications IMC are and why companies use that seeks to inform customers each them Coordination of promotion and marketing efforts for maximum impact o Know the difference between the traditional promotion mix and IMC Traditional Promotion Mix has pieces all over IMC puts the pieces together o Know the goals of IMC and an example Consistent consistent message to customers Coordinated coordinate manage promotional efforts to be logically connected Complementary synchronization to create a greater overall campaign Like a puzzle Goals Continuity use more precisely targeted promotional tools over time 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 wholesaler wholesaler promotes it to retailers and the retailers promote it to consumers o Trade shows and personal selling o Push money also known as spiffs and extra commission paid to retail employees to push products Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel Children s Toys Form Australia only produces a car when one is order by a customer dell did the same thing Pull policy o Understand the communication process and that messages are sent through channels and know what channels are Communication process The procces that described the exchange of information between two or more people o Messages are sent through channels Letters emails in person 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 Sender The person organization that has information to share o Company o Salesperson o Celebrity Encoding Information Message development Media Decoding The process of putting words thoughts messages into symbolic form in such a way that they will be understood by the receiver consumer The process of transforming the message back into through o The key is for the decoded message to resemble the encoded message o Problems can occur if there is too much NOISE anything that interferes with or distorts the message Feedback The receiver s response to the message o Can be difficult to assess o One way to get feedback from objective sources o Know the three parts stages of response models Cognitive stage The thinking stage Affective stage The feeling stage object Behavioral stage The doing stage o Where the receiver becomes aware of the message o Where the receiver forms a liking or preference for the ad o Where the receiver acts on the preference Advertising and PR Advertising o Know what advertising is and what effective adverting can do for a company A paid form of nonpersonal communication that is transmitted to a target audience through mass media o Effective advertising can influence customers purchasing behavior throughout their lifetimes o Most organizations even nonprofits engage in advertising o Know all parts of the six point advertising strategy o Understand different advertising mediums and an example of each Movies TV and Video games Product placement Mentions Interactivity Newspaper direct mail magazines Coupons Flyers Classified ads Sports Soccer Nasar volleyball o Know what advertising pervasiveness is and why it is so difficult for a company to get a customer to pay attention to their advertisement o Understand the different types of advertising and be able to recognize each one think of an example of each one Advocacy advertising Product advertising Conveys a firms position on a public issue Promotes the use features and benefits of specific products o Pioneer advertising Focuses on stimulating demand for a product category instead of a specific brand got milk beef what s for dinner o Competitive advertising focuses on stimulating demand for a specific brand Tabasco chipotle Comparative Compares two or more bands on one or more characteristics Reminds costumers of an established brand s characteristics and benefits Reminder Reinforcement Assures customers they made the right decision o Know what the next wave of advertising is and why Mobile ads Advertisements sent to mobile phones or other wireless devices o First mobile ad was sent in 2000 o Now accounts of 2 of advertising market o Understand new frontiers in advertising What is the current state Why is this not working and What are companies doing that is new Branded entertainment Recall of a branded entertainment episode is 24 Unilever who owns axe paid 50 000 to U of Maryland for college humor to host a prank o In return the company was allowed to stream their video on its website and in conjunction with its brand that targets young males Another example o Gatorade s replay This was done in an attempt to tie the drink back to its core market athletes Guerilla marketing Aggressive
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