Retail Promotions

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1

communication process

Sender, encoding, transmission device, decoding, receiver, feedback, noise/clutter

2

integrated marketing communication (imc)

coordination and integration of all marketing communication tools, avenue, and sources in a company into a seamless program designed to maximize impact on customers and other stakeholders

3

marketing mix

product, price, promotion, and distribution

4

IMC plan

current situational analysis, swot analysis, marketing objectives, target market, marketing strategies, marketing tactics, implementation, evaluation performance

5

trends in marketing communication

-emphasis on accountability and measurable results( mesaurable gains in sales)
-changes in tasks performed (acct executive, brand/product manager)
-alternative media (websites, social networks)

6

value in IMC

-advances in info tech
-changes in channel power
-increase in global competition
-increase in brand parity
-emphasis on customer engagement
-increase in micro marketing

7

IMC components

advertising tools, promotional tools, IMC foundation, IMC media tools, integration tools

8

standardized- international implications

Standardization Features a uniform product and message across countries, A single option, economies of scale in production,Universal promotional theme,The same marketing message

9

adaptation- international implications

Think globally, act locally, products and marketing messages created for individual countries, Adapted to individual cases,Integration across countries results in learning and synergies

10

corporate image

feelings consumers and businesses have about overall organization and its individual brands. The combined views of all publics. Corporate image contains both tangible and intangible elements. Consists of a unique set of features

11

role of corporate image for consumers

Provides positive assurance, confidence  Reduces search time and efforts. Provides, psychological reinforcement and social acceptance

12

role of corporate image for firms

Good basis for development of new goods and services. Higher margins and profits. Loyal consumers – more frequent purchases, positive WOM, greater channel power. Quality employees. Favorable evaluations for external ratings

13

identifying image

evaluate nature of company's current image

14

creating image

right image sends clear message about organization and its products

15

changing

helps sell new products and attract new customers, necessary when target market shrinks or disappears or image no longer matches company trends

16

overt names

reveal what company does (american airlines, kraft foods)

17

implied names

contains recognizable words or word parts that convey what company does (fedex, ibm)

18

conceptual names

capture the essence of what company offers (google, twitter, krispy kreme- suggests the food is crispy)

19

iconoclastic names

represent something unique, different, and memorable (monster.com, calumet)

20

corporate logo

symbol used to identify a company and its brands. recognizable, familiar, elicits consensual meaning, and evokes positive feelings are four tests for quality logo

21

brand

names assigned to individual goods/services or to a group of complementary products

22

family brand

group of related products sold under one name (campbell's soup offers various lines of soups and veggie products)

23

brand extension

use of established brand name on new goods/services. may not be related to core brand. (nike extended brand name to line of clothing)

24

flanker brands

development of a new brand by a company in goods/services category where currently has brand offering. appeal to target markets a brand can't reach (p&g offers 8 diff types of detergent)

25

ingredientbranding

combining two brands together (intel microprocessors in dell computers)

26

cooperative branding

joint venture where two or more brands are placed in new good/service (gillet venus and olay razor, american airlines and mastercard)

27

complementary branding

marketing of two brands together to encourage co-consumptions or co-purchase (velveeta cheese marketed with rotel tomatoes)

28

private branding

marketed by org. and distributed exclusively within org outlet. advantages include higher gross margins, loyalty towards retail stores

29

developing and building powerful brands

invest in the brand, create awareness, offer authenticity and uniqueness, build trust, deliver experience, offer value, utilize social media and mobile, act responsibly

30

brand loyalty

ultimate objective of building powerful brands- customer purchase only one brand, no other brand regardless price differences.

31

brand equity

characteristics that are unique to brand. helps fight parity problem. brand is different, better, and can be trusted.

32

benefits of brand equity

allows manufacturers to charge more for products, creates higher gross margins, provides power with retailers and wholesalers, captures additional retail shelf space, serves as weapon against consumers switching due to sales promotions, and prevents erosion of market share

33

how companies can measure brand equity

financial value, stock market value, revenue premium, consumer value

34

private brand- tactics

focus on core brands, increase advertising, introduce new products, focus on in store selling and packaging, use alternative methods of marketing

35

brand infringement

when a company creates a brand closely resembling a popular or successful brand

36

cyber squatting (domain squatting)

buying domain names (kohls.com, labronjames.com) that are valuable to specific ppl or business in hopes of making profit by reselling the name.

37

consumer purchasing process

problem recognition, info search, evaluation of alternatives,purchase decision, postpurchase evaluation

38

internal info search

consumer thinks about brands she is willing to consider. may not contain every brand she has experienced, consumer reduces number of potential brands

39

external info search

mental decision- when consumer has enough internal info, moves to decision making process: evaluating alternatives. info is gathered by friends, experts, books, newspapers, ads, in store displays. amount of time spent searching depends on ability, motivation, and costs vs benefits.

40

evaluation of alternatives

third step in consumer buying decision-making process.

41

evoked set method

brands individual considers in purchasing situation. might be reviewed during both info search and evaluation stafes.

42

inept set

brands that are part of a person's memory that aren't considered because they elicit negative feelings caused by bad experience with vendor or brand. originate from negative comments made by friends or family too

43

inert set

brands that consumer is aware but they have neither negative nor positive feelings about them. lack of knowledge about the brand.

44

multiattribute approach

suggests consumer's attitude toward brand is determined by its performance on product or brand attributes or importance of each attribute to the consumer

45

affect referral

consumers choose brands they like best or ones they have emotional connection with.

46

trends in buying environment- age complexity

technology has changed the way children grow up. some adults refuse to grow old, they wear fashion resembling those worn by college students and drive convertibles. this trend challenges marketers to create message that reflects behaviors

47

trends in buying- gender complexity

traditional roles and interests have become blurred. women attend college, delay marriage, wait to start families- men stay at home, help with household chores. Ads targeted towards different gender role are becoming harder.

48

trends in buying- active busy lifestyles

many are concentrated on less material possessions and more on experiences with friends and family. more free time is more important than more money

49

diverse lifestyles- trends in buying

percentage of young ppl growing of age, marryingm having children are lower. lesbian and gay population has increased. ppl spend more time enriching their lives

50

trend in buying- communication revolution

advances in social media and smartphones have impacted consumers. these tech are used to engage consumers

51

trend in buying- experience pursuits

includes getaways, luxurious purchases, fancy dinners. consumers prefer experiences over things therefore companies provide them with moments to remember rather than more things

52

health emphasis- trend in buying

people are becoming more interested in health and maintaining youthful appearance

53

b 2 b buyer behavior purchases

people make decisions, several people are involved when selling to business

54

users

members of org who actually use the goods/services

55

buyers

individuals given formal responsibility of making purchase

56

influencers

ppl who shape purchasing decisions by providing info or criteria utilized in evaluating alternatives such as engineers

57

deciders

individuals who authorizes the purchase decisions

58

gatekeepers

individuals who control the flow of info to members of the buying center

59

dual channel marketing

firms sell same goods and services to both consumers and businesses. ex- when product sold in business markets is adapted to consumer markets

60

international implication

marketing team needs to understand cultural differences related to products, messages, and selling techniques. understand nuances of purchasing process for transactions in foreign countries. build powerful brands to represent imc program.have a visible global brand presence

61

imc planning context (integrated marketing communications)

analysis of the three cs: customers, competitors, communications

62

customers- imc planning context

marketing department examines current customers, former customers, potential new customers, and competitors customer, potential new customers, and competitor's customer

63

competitors- imc planning context

examining competitors methods of strategies. use primary and secondary research

64

communications

analysis of company's context by examining firm's current communications at all levels and in all channels

65

market segment

set of businesses or group of individual consumers with distinct characteristics. viable only if it's within market segment should be similar in nature, having same needs, attitudes, interests

66

market segmentation

identifying specific consumer and business groups based on their needs, attitudes, and interests

67

methods of segmentation

demographics (gender, income, ethnic groups), psychographics, generations, geographic area, geodemographic, benefit, usage

68

product positioning

perception in consumer's mind of the nature of a company and its products relative to competitors.

69

product positioning approaches

attributes, competitors, use or application, price-quality relationship, product user, product class, cultural symbol

70

marketing communications objectives

develop brand awareness, increase category demand, change customer beliefs/attitudes, enhance purchase actions, encourage repeat purchases, build customer traffic, enhance firm image, increase market share, increase sales, reinforce purchase decisions

71

benchmark measure

starting point that has been established in relation to degree of change following promotional campaign- constitutes baseline from which future outcomes can be assessed

72

establishing communications budgets

final two steps of IMC planning process. budgets are based on communication and marketing objectives. it is allocated to trade journals and telemarketing.

73

threshold effect

present when advertising programs begins to affect consumer responses. ex- a new good or service may be so innovative that consumers quickly become aware of it and willing to buy item immediately (iphone)

74

diminishing returns

promotional campaign has saturated the market, further expenditures have minimal impact.

75

carryover effects

when consumer has been exposed to company's message for so long that when time comes to buy, individual remembers key company. ex- washing machine breaks down and needs replacement, remembering maytag brand will be the company's goal

76

wearout effect

when consumers become annoyed at the marketing communication because it becomes old and boring

77

decay effect

when company stops advertising, consumers begin to forget the message

78

percentage of sales budget

allocations derived from sales from previous year or anticipated sales for the next year. relatively easy to prepare

79

meet the competition budget

seeks to prevent loss of market share. expenditures are raised or lowered to match those of the competition

80

what we can afford budget

sets marketing allotment after all the company's other budgets have been determined or while determining other budgets. money is allocated based on what company leaders feel they can spend

81

objective and task budget

management lists the communication objectives to pursue during the year and then calculates cost of accomplishing each objective

82

payout planning

management establishes ratio of advertising to sales or market share. normally allocates greater amounts in early years to yield payouts in later years

83

quantitative models

computer stimulations to model relationships between advertising or promotional expenditures with sales and profits. limited to larger organizations with strong computer and stats departments

84

IMC components

media advertising accounts for more than 41 percent of marketing communications budget

85

globally integrated marketing communications (gimc)

understand international market, create borderless marketing plan, think globally but act locally, local partnerships, communication segmentation strategies, market communication analysis, solid communication objectives

86

advertising management

process of preparing and integrating company's advertising efforts with overall IMC message. review role of advertising in IMC effort, select an in-house or external advertising agency, develop advertising campaign management strategy, and complete creative brief

87

relationship between advertising and IMC process

it represents one part of traditional promotions mix of advertising, consumer trade,

88

in-house advertising

lowers cost, consistent brand message, better understanding of product and mission, faster ad production, works closer with ceo, and lower turnover rate in creative team.

89

external advertising agency

reduces costs, greater expertise, outsider's perspective, access to top talent.

90

choosing an agency

set goals, select process and criteria, screen initial list of applicants, request client references, reduce list of two or three viable agencies, request creative pitch

91

goal setting

identify and prioritize corporate goals. goals provide sense of direction and prevent personal biases from affecting selection decisions. guides company leaders by providing clear idea of what is to be accomplished

92

selection criteria

size of agency, relevant experience of agency, conflicts of interest, creative reputation and capabilities, production capabilities, media purchasing capabilities, other services available, client retention rates, personal chemistry.

93

creative pitch

provide a formal presentation that addresses specific problem, situation, or set of questions, a process also called a shootout. takes time to prepare pitch and creates expenses for advertising agencies.

94

agency selection

company marketers meet with agency creatives, media buyers, account executives, and other ppl who will work on the account.

95

account executives

serves as go-between for advertising agency and client company. is actively involved in soliciting account, finalizing details of contract, and working with personnel within agency to make sure advertisements meet client's specification. helps define company define theme of overall imc program and provides other support as needed.

96

creatives

develop and design advertisements. members of advertising agencies or freelancers. create ads and marketing materials. work long hours and face enormous pressures to design effective ads that produce tangible results

97

traffic manager

works closely with ad agency's account executive, creatives, and production staff. schedules various aspects of agency's work to make sure it's completed on time. responsible for making sure props, actors, and items needed be ordered.

98

account planners

provides voice and will be advocate for consumer within ad agency. makes sure creative team understands consumer and business. interacts with account executives and client to understand target audience of ad campaign.

99

quality communication

manager of marketing department works closely with ad agency's account manager to overcome obstacles.

100

advertising campaign management process

conduct and review advertising research, establish advertising objectives consistent with overall imc program, review advertising budget, select appropriate media based on viewing habits of target market, prepare creative brief

101

advertising goals

build brand awareness, inform, persuade, support other marketing efforts, encourage action.

102

pulsating schedule of advertising

continuous advertising during the year with bursts of higher intensity at specific times.

103

continuous campaign schedule

advertising in level amounts keeps brand name repetitively in front of consumers

104

flighting schedule

ads are presented only during peak times and not at all during other times of the year

105

media selection

selecting right media requires understanding of media usage habits of target market and then matching info with profile of each medium's audience.

106

creative brief

takes info provided to produce ads and use it to convey desired message. saves agency considerable time and effort and results in stronger ad campaign for client

107

the objective of creative brief

identifies objective of ad campaign. reviews main objective before designing specific ads or the ad campaign.

108

the objectives

guides ad design and choice of an executional framework

109

target audience

focuses on type of industry and specific member of buying center. the more detail available regarding target audience, the easier it becomes for creative to design an effective ad.

110

message theme

presents outline of key ideas that the ad program conveys. it represents benefit or promise the ad uses to reach consumers or businesses.

111

the support

takes form of facts that substantiate message theme. supporting evidence allows creatives to design ads that attract attention to the materials that substantiate made about products

112

the constraints

any legal and mandatory restrictions placed on ads. includes legal protections for trademark, logos, and copy registrations. takes overall imc message and tailor it to specific ad campaign. gives company better chance of reaching customers with messages that return measurable results and help guarantee success.

113

hierarchy effect

awareness, knowledge, liking, preference, conviction, actual purchase

114

means-end theory

ad should contain message or means that leads consumer to desired end state. end states are personal values and helps achieve personal values.

115

leverage point

moves consumer from understanding product's benefits to linking those benefits with personal values. creatives build pathway that connects product benefit with potential buyer's value system

116

taglines

should be something memorable that identifies uniqueness of brand or conveys some type of special meaning.

117

verbal and visual images

visual ads place the greatest emphasis on picture or visual element of the ad. verbal/written ad places more emphasis on the copy. visual is more easily remembered and lead to more favorable attitudes toward both ad and brand.

118

visual experanto

universal language that makes global advertising possible for any good/service. it recognizes visual images are more powerful than verbal descriptions. ex- exotic can have many meanings to different cultures

119

types of ad appeal- fear

fear increases viewer interest in ad because it leaves a better memory than other types. behavioral response model explains the way fear works where various incidents can lead to negative or positive consequences which then affect future behaviors

120

severity and vulnerability

attempts to cause business leaders to believe low quality decisions would result from inadequate research.

121

rewards to response efficiency

intrinsic and extrinsic rewards are first factors where intrinsic comes from gaining social accpetance by quitting and feeling better and extrinsic includes saving on cost of cigs as compared to the price of nicoderm cq.

122

appeal strength-

advertisers believe moderate fear level will be most effective. a low level of fear may not be noticed and the fear level may not be convincing in terms of severity and vulnerability.

123

humor

advantages- funny ad captures viewer's attention leading to improved comprehension and recall of the ad message and tagline. happy consumers associate good mood with ad's products. problems- fails when consumers remember joke but not product or brand. fails to accomplish advertising objectives

124

sex ad approach

subliminal techniques, sensuality, sexual suggestiveness, nudity or partial nudity, overt sexuality

125

musical appeals

connects with emotions, memories, and other experiences. can gain attention of someone who previously wasn't listening to or watching program. gains attention and increases retention of info when it becomes intertwined with product

126

rational appeals

print media and internet offer best outlets for this appeal. print and internet ads allow readers greater opportunities to process copy info. tv and radio commercials are short which makes it difficult for viewers to process message arguments. high involvement decisions require considerable cognitive activity and consumers spend more time evaluating attributes of individual brands.

127

emotional appeal

consumers ignore most ads, rational appeals go unnoticed unless consumer is in market for particular product at time it's advertised, and emotional ad can capture viewer's attention and create attachment between consumer and brand.

128

scarcity appeals

urge consumers to buy particular product because of limitation. it can be limited number of products available or that the product will be made available for only limited time

129

cognitive strategies

presents rational arguments or pieces of info to consumers. key message describes product's attributes or benefits customers can obtain by purchasing product

130

generic message (cognitive)

ad that directly promotes product's attributes or benefits without any claim of superiority. works best for brand leader firm or one that dominates industry. makes brand synonymous with product category (campbell's can declare soup is good food without making any claim to superiority)

131

preemptive message (cognitive)

claim of superiority based on product's specific attribute or benefit with intent of preventing competition from making the same or similar statement. (me too brands or copy cats)

132

unique selling proposition (cognitive)

explicit, testable claim of uniqueness or superiority that can be supported or substantiated in some manner.

133

hyperbole (cognitive)

untestable claim based on attribute or benefit (nbc states that it has america's favorite comedies)

134

comparative aadvertising (cognitive)

allows advertiser to directly or indirectly compare product to competition on some product attribute or benefit.

135

affective strategies

ads that invoke feelings or emotions and match those feelings with good, service, or company.

136

resonance advertising

connects product with consumer's experiences in order to develop stronger ties between product and consumer

137

comfort marketing

encourage consumers to purchase branded products rather than generic version to reassure consumers looking for value that a branded product has stood the test of time

138

emotional advertising

elicit powerful emotions that eventually lead to product recall and choice

139

conative message advertisements

create situations in which cognitive knowledge of product or affective liking of product may come later after actual purchase or during product usage.

140

promotional support conative ads

tied with other promotional efforst including coupons, phone-in promotions, or sweepstakes that consumer enters by filling out form on ads or going to particular store.

141

executional frameworks

ad appeal will be presented. takes place in conjunction with advertising appeal and message strategy. animation, slice-of-life, testimonials, authoritative, demonstrations, fantasy, and informative are types of executional frameworks

142

sources and spokespersons

celebrity spokespersons are most common but declining in appearances in ads. ceo spokespersons can become major asset to firm. experts provides testimonials and serve as authoritative figures to enhance credibility of product. typical persons include aid actors/model or actual, typical everyday people- becoming more common.

143

source characteristics

effectiveness of an ad that utilizes spokesperson depends on degree to which person has one or more of the characteristics: credibility, attractiveness, similarity, likeability, trustworthiness, and expertise.

144

creating an ad process

creative brief which outlines message theme of ad, creative develops means-end chain starting with attribute of product, selects message strategy; appeal; and executional framework, chooses source or spokesperson.

145

advertising effectiveness

consistency, campaign duration, repeated taglines, consistent positioning, simplicity, indentifiable selling point, create effective flow, beating ad clutter

146

variability theory

variable encoding occurs when consumer sees same ad in different environments. it increases recall and effectiveness by encoding it into brain through various methods


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