MKTG 3310: Final Exam

Promotion
communication by marketers that informs, persuades, and reminds potential buyers of a product
in order to influence an opinion or elicit a response

Promotion Strategy
a plan for the optimal use of the elements of promotion: advertising, public relations, personal
selling, sales promotion, and social media

Promotional Mix
the combination of promotional tools- including advertising, public relations, personal selling,
sales promotion, and social media- used to reach the target market and fulfill the organization's
overall goals

Advertising
impersonal, one-way mass communication about a product or organization that is paid for by a
marketer

Public relations
the marketing functions that evaluates public attitudes, identifies areas within the organization
the public may be interested in, and executes a program of action to earn public understanding
and acceptance

Publicity
public information about a company, product, service, or issue appearing in the mass media as a
news item

Sales promotion
marketing activities- other than personal selling, advertising, and public relations-that stimulate
consumer buying and dealer effectiveness

Personal selling
a purchase situation involving a personal, paid-for communication between two people in an
attempt to influence each other

Social media
promotion tools used to facilitate conversations among people online

Informing
promotion seeks to convert an existing need into a want or to stimulate interest in a new product.
Early stages of the product life cycles

Persuading
promotion designed to stimulate a purchase or an action. Growth stage of the product life cycle

Reminding
promotion used to keep the product and brand name in the public's mind

The AIDA concept

a model that outlines the process for achieving promotional goals in terms of stages of consumer
involvement with the message; the acronym stands for attention, interest, desire, and action

Nature of the product

Characteristics of the product can influence the promotional mix; business product or consumer
product

Type of buying decisions

routine or complex

Push strategy
a marketing strategy that uses aggressive personal selling and trade advertising to convince a
wholesaler or a retailer to carry and sell particular merchandise

Pull strategy
a marketing strategy that stimulates consumer demand to obtain product distribution

Integrated marketing communications

the careful coordination of all promotional message for a product or a service to ensure the
consistency of messages at every contact point at which a company meets the consumer.

Reasons for growth of integrated marketing communications

1.the proliferation of thousands of media choices beyond tradition television has made promotion
a more complicated task. 2. Mass market has fragmented 3. Marketers have slashed their
advertising spending in favor of promotional techniques that generate immediate sales responses
and those that more easily measured

Effect that advertising has on a Consumer

advertising affects consumers' daily lives, informing them about product and services and
influencing their attitudes, beliefs, and ultimately their purchases.

Institutional
a form of advertising designed to enhance a company's image rather than promote a particular
product

Pioneering advertising
a form of advertising designed to stimulate primary demand for a new product or product
category

Competitive advertising- selective

a form of advertising designed to influence demand for a specific brand

Comparative advertising
a form of advertising that compares two or more specifically named or shown competing brands
on one or more specific attributes

Advantages of newspaper advertising

geographic selectivity and flexibility; short-term advertiser commitments; new value and
immediacy; year-round readership; high individual market coverage; co-op and local tie-in
availability short lead time

Disadvantages of newspaper advertising

little demographic selectivity; limited color capabilities; low pass-along rate; may be expensive

Advantages of magazine advertising

Good reproduction, especially for color; demographic selectivity; regional selectivity; local
market selectivity; relatively long advertising life; high pass-along rate

Disadvantages of magazine advertising

long-term advertiser commitments; slow audience buildup; limited demonstration capabilities;
lack of urgency; long lead time

Advantages of Radio advertising

low cost; immediacy of message; can be scheduled on short notice; relatively no seasonal change
in audience; highly profitable; short-term advertiser commitments; entertainment carryover

Disadvantages of Radio advertising

No visual treatment; short advertising life of message; high frequency required to generate
comprehension and retention; distractions from background sound; commercial clutter

Advantages of television advertising

Ability to reach a wide, diverse audience; low cost per thousand; creative opportunities for
demonstration; immediacy of message; entertainment carryover; demographic selectivity with
cable stations

Disadvantages of Television advertising

short life of message; some consumer skepticism about claims; high campaign cost; little
demographic selectivity with network stations; long-term advertiser commitments; long lead
times required for production; commercial clutter

Advantages of Internet advertising

Fastest-growing medium; ability to reach a narrow target audience; relatively short lead time
required for creating web-based advertising; moderate cost; ability to measure ad effectiveness;
ability to engage consumers through search engine marketing, social media, display advertising,
mobile marketing

Disadvantages of Internet advertising

most ad exposure relies on "click-through" from display ads; measurement for social media
needs much improvement; not all consumers have access to the internet, and many consumers
are not using social media

Advantages of outdoor media

repetition; moderate cost; flexibility; geographic selectivity

Disadvantages of outdoor media

short message; lack of demographic selectivity; high 'noise' level distracting audience

Media selections considerations when developing a media mix

cost per contact, cost per click, reach, frequency, target audience considerations, flexibility of
medium, noise level, and the life span of the medium

New-product publicity
is instrumental in introducing new product services, help advertisers explain what's different
about their new product by prompting free new stories or positive words of mouth about it

Product placement
is a strategy that involves getting a product, service, or company name to appear in a movie,
television show, radio program, magazine, newspaper, video game, video or audio clip, book, or
commercial for another product; on the internet or at special events

Sponsorship
a public relations strategy in which a company spends money to support an issue, cause, or event
that is consistent with corporate objectives, such as improving brand awareness or enhancing
corporate image

Trade sales promotion tools

sale promotion activities targeting a marketing channel member, such as a wholesaler or retailer

Consumer sales promotion tools

sales promotion activities targeting the ultimate consumer

Advantages of personal selling over other forms of promotion

1.personal selling provides a detailed explanation or demonstration of the product. 2. The sales
message can be varied according to the motivations and interest of each prospective customer,
can answer customer questions. 3. Direct to only qualified prospects. 4. Can be controlled by
adjusting the size of the sale force. 5. Considerably more effective than other forms of promotion
in obtaining a sale and gained a satisfied customer

Relationship or consultative selling

a sale practice that involves building, maintain, and enhancing interactions with customers in
order to develop long term satisfaction through mutually beneficial partnerships

Steps in the selling process

1.Genrate leads 2. Qualifying leads 3. Approaching the customer and probing needs 4.
Developing and proposing solutions 5. Handling objections 6. Closing the sale 7. Following up