32 Cards in this Set
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The Marketing Mix
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- Product
- Price
- Place
- Promotion
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Promotion
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The coordination of marketing communication efforts to influence attitudes or behavior
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Marketing Communications purpose
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- Inform
- Persuade
- Remind
- Build relationships
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Source
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Firm or person sending a message
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Encoding
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Transmitting an idea into a form of communication that conveys meaning
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Message
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Communication in physical form that goes from a sender to a receiver
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Medium
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Communication vehicle through which a message is transmitted
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Receiver
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Individuals or organization that intercepts and interprets the message
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Decoding
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Proces whereby a receiver assigns meaning to a message
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Noise
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Anything that interferes with effective communication
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Feedback
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Receiver's reactions to the message
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Which sense do we learn the most through?
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Sight
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Promotion mix
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The major communication elements that the marketer controls
- The extent of their control varies
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Extent of marketer's control over communication (High to Low)
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- Advertising
- Sales promotion
- Personal selling
- Direct marketing
- Public relations
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How is the extent of the marketer's credibility related to the marketer's control?
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Inversly
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Advertising
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Non-personal communication from an identified sponsor using mass media
- Provides marketers with total control
- Rich and dynamic advertising images can help to build or reinforce brand image
- May provide factual information or offer reminders to consumers
- Lacks credibility with cy…
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What is the most visible element of IMC?
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Advertising
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Personal selling
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Direct interaction between a company representative and a customer
- Flexible; salespeople can modify message to match customer needs
- Immediate feedback
- High cost per contact
- Difficult to ensure message consistency between different sales representatives
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When does personal selling add value?
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When products are:
- complicated
- expensive
- rarely purchased
- new or significantly altered
- products and their values are unknown
- suppliers are changing
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Sales promotion
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Contests, coupons, and other incentives designed to build interest or encourage product purchase during a specified period
- provides retailers with incentives
- builds retailer and consumer excitement
- encourages immediate purchase and trial
- reaches price-sensitive consumers
- …
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Public relations
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Communication activities that create or maintain a positive image of a firm and its products
- relatively low cost
- highly credible
- poor message control; no guarantee that message will even reach the target
- difficult to track the results
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Direct marketing
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Efforts to gain a direct response from individual consumers
- Easily target specific customers with different offers
- Easily measure results
- Can provide expensive information and multiple offers with a single appeal
- Facilitates marketing database information collection
- Consume…
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Cognition = ?
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Think
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Affect = ?
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Feel
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Behavior = ?
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Do
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What approach increases the likelihood the message will be received?
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Multichannel
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The Lagged Effect
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- Advertising does not always have an immediate impact
- Effects of starting or stopping an advertising campaign are usually not detected immediately
- It is difficult to determine which exposure led to purchase
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PUSH Strategy
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Focus is on supply
- Use supply chain promotion
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Pharmaceutical Representatives give doctors samples of medication to give to their patients. This is an example of what?
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PUSH Strategy
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PULL Strategy
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Focus is on demand
- Use consumer-oriented promotion
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Media advertisement of pharmaceuticals so consumers will ask their doctor for them. This is an example of what?
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PULL Strategy
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Rule of Thumb Methods
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- Competitive party
- Percentage-of-sales
- Available budget
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MKT 300: Exam 2