Marketing Communications and Promotion: Terms and Definitions, Quizzes of Principles of Marketing

Download Marketing Communications and Promotion: Terms and Definitions and more Quizzes Principles of Marketing in PDF only on Docsity! TERM 1 Promotion DEFINITION 1 Communication by marketers that informs, persuades and reminds potential buyers of a product in order to influence an opinion or elicit a response TERM 2 Promotional strategy DEFINITION 2 A plan for the optimal use of elements of promotion: advertising, public relations, direct marketing, personal selling and sales promotion TERM 3 Communication DEFINITION 3 The process by which we exchange or share meanings through a common set of symbols Interpersonal communication Direct face to face Mass communication Communication to large audience TERM 4 Integrated marketing communications DEFINITION 4 The method of carefully coordinating all promotional activities to produce a consistent unified message that is customer focussed TERM 5 Viral Marketing DEFINITION 5 A marketing method that relies on people to personally pass on a marketing message or information either by word of mouth or through other interpersonal communication TERM 6 Communication process DEFINITION 6 Sender:The originator of the message in the communication process EncodingConversation of the senders ideas and thoughts into a message, usually in the form of words or signs TERM 7 Message transmission DEFINITION 7 Chanel: a medium for communication for transmitting a message, such as a voice, radio or newspaper Noise: Anything that interferes with, distorts or slows down the transmission or information TERM 8 The receiver and decoding DEFINITION 8 Receiver: The person who decodes the message Decoding: Interpretation of the language and symbols sent by the source through a channel Feedback: A receivers response to a message TERM 9 Strategic criteria for selecting various elements of the promotional mix DEFINITION 9 Personal selling Adverting Sales promotion Public Relations TERM 10 Promotion tasks and examples DEFINITION 10 Informative promotion Persuasive promotion Reminder promotion TERM 21 Pull strategy DEFINITION 21 Maunfacturer promotes to consumer Consumer demands product from retailer Retailer demands product from wholesaler Wholsaler demands product from manufacturer TERM 22 AIDA Process DEFINITION 22 Attention Gain attention of target audience Interest Develop target messages to create interest among innovaters and early adapters Desire Convince customers to buy product Action Convince customers they need it TERM 23 Advertising and market share DEFINITION 23 Advertising response function Advertising increases sales and market share, but then produces diminishing returns Guerrilla Marketing Unconventional marketing using low budget, relying on creativity and imagination to get results TERM 24 ... DEFINITION 24 Make creative decisions Medium- choosing the right channelIdentify product benefitsBuzz marketing- word of mouth marketing through the internetAdvertising appeal identifies a reason for a person to buy a productUnique selling proposition- desirable exclusive and believable advertising appeal select as a them for a campaign TERM 25 Common advertising appeals DEFINITION 25 Profit Health Love Fear Admiration Convenience Fun and pleasure Vanity and egotism Environmental consciousness Humour TERM 26 Advertising DEFINITION 26 Cooperative advertising An arrangement in which the manufacturer and the retailer split the cost of advertising the manufactures brand Infomercial 30 minutes or long advertisement that looks more like a TV talk show than a sales pitch TERM 27 Media selection considerations DEFINITION 27 Media mix Cost per reach Reach Frequency Audience selectivity TERM 28 Media scheduling DEFINITION 28 Continuous media schedule Flighted media schedule Pulsing media schedule Seasonal media schedule TERM 29 The objectives of sales promotions DEFINITION 29 Sales promotion usually works best in affecting consumer behaviour rather attitudes TERM 30 Tools for consumer sales promotion DEFINITION 30 Loyal customers Competitors customers Brand switchers Price buyers TERM 31 Tools for promotion DEFINITION 31 Coupon Rebate Premium Loyalty marketing program Frequent buyer program TERM 32 Managing unfavourable publicity DEFINITION 32 crisis management TERM 33 personal selling DEFINITION 33 Relationship building with customers in order to develop long term satisfaction, though mutually beneficial partnerships TERM 34 Traditional personal selling DEFINITION 34 Focus on closing sales Limited sales planning Most contact time with customers about product Product specific needs assessment Proposals and presentaiton based on pricing and product feature TERM 35 Relationship selling DEFINITION 35 Sell advice, assistance and counsel focus on improving the customers bottom line Consider sales planning as top priority Presentations based on profit impact and strategic benefits