MKT 3010:Exam 4
130 Cards in this Set
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Integrated marketing communications (IMC)
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represents the promotion dimension of the four Ps; encompasses a variety of communication disciplines—general advertising, personal selling, sales promotion, public relations, direct marketing, and electronic media—in combination to provide clarity, consistency, and maximum communicative …
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Sender
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the firm from which an IMC message originates; must be clearly identified to the intended audience
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Transmitter
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an agent or intermediary with which the sender works to develop the marketing communications; for example, a firm’s creative department or an advertising agency
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Encoding
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the process of converting the sender’s ideas into a message, which could be verbal, visual, or both
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Communication channel
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the medium—print, broadcast, the internet—that carries the message
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Receiver
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the person who reads, hears, or sees and processes the information contained in the message or advertisement
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Decoding
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the process by which the receiver interprets the sender’s message
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Noise
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any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; a problem for all communication channels
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Feedback loop
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allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly
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AIDA model
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a common model of the series of mental stages through which consumers move as a result of marketing communications: Awareness leads to Interests, which lead to Desire, which leads to Action
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Brand awareness
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measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging, or slogan) in the firm’s communications to consumers
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Aided recall
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occurs when consumers recognize a name (e.g., of a brand) that has been presented to them
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Top-of-mind awareness
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a prominent place in people’s memories that triggers a response without them having to put any thought into it
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Lagged effect
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a delayed response to a marketing communication campaign
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Advertising
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a paid form of communication from an identifiable source, delivered through a communication channel, and designed to persuade the receiver to take some action, now or in the future
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Public Relations
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the organizational function that manages the firm’s communications to achieve a variety of objectives, including building and maintaining a positive image, handling or heading off unfavorable stories or events, and maintaining positive relationships with the media
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Sales promotions
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special incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays
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Personal selling
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the two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision
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Direct marketing
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sales and promotional techniques that deliver promotional materials individually to potential customers
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Mobile marketing
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marketing through wireless handheld devices
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Blog (weblog)
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a web page that contains periodic posts; corporate blogs are a new form of marketing communications
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Social media
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media content used for social interactions such as YouTube, Facebook, and Twitter
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Objective-and-task method
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an IMC budgeting method that determines the cost required to undertake specific tasks to accomplish communication objectives; process entails setting objectives, choosing media, and determining costs
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Rule-of-thumb methods
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budgeting methods that base the IMC budget on either the firm’s share of the market in relation to competition, a fixed percentage of forecasted sales, or what is left after other operating costs and forecasted sales have been budgeted
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Frequency
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measure of how often the audience is exposed to a communication within a specified period of time
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Reach
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measure of consumers’ exposure to marketing communications; the percentage of the target population exposed to specific marketing communication, such as an advertisement, at least once
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Gross rating points (GRP)
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measure used for various media advertising—print, radio, or television; equals reach times frequency
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Search engine marketing (SEM)
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a type of web advertising whereby companies pay for keywords that are used to catch consumers’ attention while browsing a search engine
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Impressions
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the number of times an advertisement appears in front of the user
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Click-through rate (CTR)
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the number of times a user clicks on an online ad divided by the number of impressions
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Relevance
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a metric used to determine how useful an advertising message is to the consumer
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Return on investment (ROI)
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the amount of profit divided by the value of the investment. In the case of an advertisement, it is the sales revenue generated by the ad minus the ad’s cost divided by the ad’s cost
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Advertising plan
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a section of the firm’s overall marketing plan that explicitly outlines the objectives of the advertising campaign, how the campaign might accomplish those objectives, and how the firm can determine whether the campaign was successful
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Pull strategy
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designed to get consumers to pull the product into the supply chain by demanding it
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Push strategies
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designed to increase demand by motivating sellers—wholesalers, distributors, or salespeople—to highlight the product, rather than the products of competitors, and thereby push the product onto consumers
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Informative advertising
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communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase
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Persuasive advertising
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communication used to motivate consumers to take action
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Reminder advertising
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communication used to remind consumers of a product or to prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle
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Product-focused advertisements
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used to inform, persuade, or remind consumers about a specific product or service
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Institutional advertisements
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a type of advertisement that informs, persuades, or reminds consumers about issues related to places, politics, or an industry
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Public service advertising (PSA)
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advertising that focuses on public welfare and generally is sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups; a form of social marketing
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Social marketing
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the application of marketing principles to a social issue to bring about attitudinal and behavioral change among the general public or a specific population segment
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Unique selling proposition (USP)
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a strategy of differentiating a product by communicating its unique attributes; often becomes the common theme or slogan in the entire advertising campaign
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Informational appeals
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used in a promotion to help consumers make purchase decisions by offering factual information and strong arguments built around relevant issues that encourage them to evaluate the brand favorably on the basis of the key benefits it provides
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Emotional appeal
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aims to satisfy consumers’ emotional desires rather than their utilitarian needs
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Media planning
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the process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience
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Media mix
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the combination of the media used and the frequency of advertising in each medium
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Media buy
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the actual purchase of airtime or print pages
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Mass media
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channels that are ideal for reaching large numbers of anonymous audience members; include national newspapers, magazines, radio, and television
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Niche media
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channels that are focused and generally used to reach narrow segments, often with unique demographic characteristics or interests
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Advertising schedule
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the specification of the timing and duration of advertising
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Continuous schedule
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runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relatively steady rates and that require a steady level of persuasive or reminder advertising
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Flighting
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an advertising schedule implemented in spurts, with periods of heavy advertising followed by periods of no advertising
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Pulsing
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combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods
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Pretesting
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assessments performed before an ad campaign; is implemented to ensure that the various elements are working in an integrated fashion and doing what they are intended to do
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Tracking
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includes monitoring key indicators, such as daily or weekly sales volume, while the advertisement is running to shed light on any problems with the message or the medium
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Posttesting
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the evaluation of an IMC campaign’s impact after it has been implemented
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Lift
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additional sales caused by advertising
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Puffery
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the legal exaggeration of praise, stopping just short of deception, lavished on a product
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Cause-related marketing
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commercial activity in which businesses and charities form a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaign
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Event sponsorship
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popular PR tool; occurs when corporations support various activities (financially or otherwise), usually in the cultural or sports and entertainment sectors
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Coupons
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provides a stated discount to consumers on the final selling price of a specific item; the retailer handles the discount
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Premium
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an item offered for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing
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Contest
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a brand-sponsored competition that requires some form of skill or effort
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Sweepstakes
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a form of sales promotion that offers prizes based on a chance drawing of entrants’ names
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Sampling
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offers potential customers the opportunity to try a product or service before they make a buying decision
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Loyalty programs
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specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time
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Point-of-purchase (POP) displays
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a merchandise display located at the "blank", such as at the check-out counter in a grocery store
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Rebates
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a consumer discount in which a portion of the purchase price is returned to the buyer in cash; the manufacturer, not the retailer, issues the refund
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Product placement
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inclusion of a product in nontraditional situations, such as in a scene in a movie or television program
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Cross-promoting
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efforts of two or more firms joining together to reach a specific target market
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Relationship selling
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a sales philosophy and process that emphasizes a commitment to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to all parties
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Leads
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a list of potential customers
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Qualify leads
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the process of assessing the potential of sales leads
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Trade shows
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major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry
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Cold calls
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a method of prospecting in which salespeople telephone or go to see potential customers without appointments
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Telemarketing
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a method of prospecting in which salespeople telephone potential customers
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Preapproach
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in the personal selling process, occurs prior to meeting the customer for the first time and extends the qualification of leads procedure; in this step, the salesperson conducts additional research and develops plans for meeting with the customer
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Role playing
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a good technique for practicing the sales presentation prior to meeting with a customer; the salesperson acts out a simulated buying situation while a colleague or manager acts as the buyer
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Closing the sale
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obtaining a commitment from the customer to make a purchase
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Sales management
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involves the planning, direction, and control of personal selling activities, including recruiting, selecting, training, motivating, compensating, and evaluating, as they apply to the sales force
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Company sales force
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comprised of people who are employees of the selling company and are engaged in the selling process
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Independent agents
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salespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer; also known as manufacturer’s representatives or reps
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Manufacturer's representatives
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salespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer
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Reps
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Bsalespeople who sell a manufacturer’s products on an extended contract basis but are not employees of the manufacturer
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Order getter
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a salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale
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Order taker
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a salesperson whose primary responsibility is to process routine orders or reorders or rebuys for products
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Sales support personnel
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employees who enhance and help with a firm’s overall selling effort, such as by responding to the customer’s technical questions or facilitating repairs
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Selling teams
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combinations of sales specialists whose primary duties are order getting, order taking, or sales support but who work together to service important accounts
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Salary
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compensation in the form of a fixed sum of money paid at regular intervals
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Commission
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compensation or financial incentive for salespeople based on a fixed percentage of their sales
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Bonus
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a payment made at management’s discretion when the salesperson attains certain goals; usually given only periodically, such as at the end of the year
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Sales contest
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a short-term incentive designed to elicit a specific response from the sales force
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Business ethics
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refers to a branch of ethical study that examines ethical rules and principles within a commercial context, the various moral or ethical problems that might arise in a business setting, and any special duties or obligations that apply to persons engaged in commerce
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Marketing ethics
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refers to those ethical problems that are specific to the domain of marketing
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Ethical climate
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the set of values within a marketing firm, or in the marketing division of any firm, that guide decision-making and behavior
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Corporate social responsibility
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refers to the voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders
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Globalization
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refers to the processes by which goods, services, capital, people, information, and ideas flow across national borders
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Advertising
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A paid form of communication from an identifiable source, delivered through a communication channel, and designed to persuade the receiver to take some action, now or in the future.
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Reverse Innovation
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When companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets.
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Glocalization
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The process of firms standardizing their products globally, but using different promotional campaigns to sell them.
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Gross National Income (GNI)
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Consist of GDP plus the net income earned from investments abroad (minus any payments made to nonresidents who contribute to the domestic economy
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Gross Domestic Product (GDP)
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Defined as the market value of the goods and services produced by a country in a year, the most widely used standardized measure of output.
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Trade surplus
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Occurs when a country has a higher level of exports than imports
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Trade Deficit
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Results when a country imports more goods than it exports
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Tariff
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a tax levied on a good imported into a country; also called a duty
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Duty
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a tax levied on a good imported into a country; also called a tariff
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Dumping
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the practice of selling a good in a foreign market at a price that is lower than its domestic price or below its cost
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Quota
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designates the maximum quantity of a product that may be brought into a country during a specified time period
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Exporting
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producing goods in one country and selling them in another
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Franchising
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a contractual agreement between a franchisor and a franchisee that allows the franchisee to operate a business using a name and format developed and supported by the franchisor
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Strategic alliances
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a collaborative relationship between independent firms, though the partnering firms do not create an equity partnership; that is, they do not invest in one another
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Joint venture
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formed when a firm entering a new market pools its resources with those of a local firm to form a new company in which ownership, control, and profits are shared
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Direct investment
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when a firm maintains 100% ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries
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Extended Network
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In social media, it is the total number of people a person or entity reaches or has influence over.
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Influence
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In a social medial context, the extent to which the person influences others (eg. how much do the people in a person's network read that person's content)
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Social Reach
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A metric used to determine how many people a person influences (eg. number of individuals in the networks such as facebook and linkedin)
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Keyword Analysis
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An evaluation of what keywords people use to search on the internet for their products and services
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Conversion Rates
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Percentage of consumers who buy a product after viewing
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Click Paths
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Shows how users proceed through the information on a website- not unlike how grocery stores try to track the way shoppers move through their aisles
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Bounce Rate
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The percentage of time a visitor leaves the website almost immediately, such as after viewing only one page
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Page Views
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The number of times an internet page gets viewed by any visitor
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Hits
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A request for a file made by web browsers and search engines. Hits are commonly misinterpreted as a metric for website success, however the number of hits typically is much larger than the number of people visiting a website
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Sentiment Analysis
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A technique that allows marketers to analyze data from social media sites to collect consumer comments about companies and their products
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Gamification
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The process of building customer loyalty through the offering of free apps.
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Microblog
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Differs from a traditional blog in size. Consist of short sentences, short videos, or individuals images. Twitter is an example of a microblog.
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Personal Blogs
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Websites written by people that receive no products or remuneration for their efforts
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Professional Blogs
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Websites written by people who review and give recommendations on products and services
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Corporate Blogs
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A website created by a company and often used to educate consumers
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blog(weblog)
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A Web page that contains periodic posts; corporate blogs are a new form of marketing communications.
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MKT 3010:Exam 4