MAR 3023 Exam 4 Questions & Answers 2024/2025
What is Promotion? - ANSWERSThe link between manufacturer and the buyer, they are trying to influence the consumer and inform them about the benefits of the product and persuade them to buy the product
Promotion Mix - ANSWERSThe levers and strat...
What is Promotion? - ANSWERSThe link between manufacturer and the buyer, they are trying to
influence the consumer and inform them about the benefits of the product and persuade them to buy
the product
Promotion Mix - ANSWERSThe levers and strategic tools that companies can use to turn the dial in terms
of how you become aware and persuaded of a particular product
Advertising - ANSWERSa paid, non-personal communication about an organization and its products
transmitted to a target audience through mass media
Personal Selling - ANSWERSa paid, personal communication that aims to inform customers and persuade
them to purchase products in an exchange situation
Public Relations - ANSWERSa broad set of communication efforts used to create and maintain favorable
relationships between an organization and its stakeholders
Sales Promotion - ANSWERSis an activity or material that acts as a direct inducement offering added
value or incentive for the product to resellers, salespeople, or customers; free samples, games, rebates,
sweepstakes, contests, premiums, and coupons
Integrated Marketing Communications - ANSWERSCoordination of promotion and marketing efforts for
maximum impact
Goals of IMC - ANSWERSConsistent:
-Consistent message to customers
Coordinated:
-Coordinate/manage promotional efforts to be logically connected
,Complementary:
-Synchronization to create a greater overall campaign
Continuity:
-Use more precisely targeted promotional tools over time
Two General Promo Strategies - ANSWERS-Push Policy
-Pull Policy
Push Policy - ANSWERS-The firm is targeting someone within the distribution network
-Promoting a product only to the next institution down the marketing channel
-The producer promotes the product to wholesalers, the wholesalers promote it to retailers, and the
retailers promote it to consumers
-Trade shows and personal selling
-Push money: also known as "spiffs". An extra commission paid to retail employees to push products
Pull Policy - ANSWERS-Promoting a product directly to consumers to develop strong demand that pulls
products through the marketing channel
-Children's toys
-Ford Australia only produces a car when one is ordered by a customer; Dell did the same thing
Communication Process - ANSWERS-The process that describes the exchange of information between
two or more people
-Messages are sent through channels:
letters, email, in person
The Source - ANSWERS-the person or organization that has information to share
-Company
-Salesperson
-Celebrities Q-scores
, Q-scores (Celebrities) - ANSWERS-The way celebs get paid for promotions
-Measure of familiarity and liking
-Consumers level of familiarity with a name - % who have heard of her/him
-The number of respondents who indicate that a person, program or character is a favorite
-The score is calculated by dividing the two numbers
-Some argue that Q is better than Nielsen
Encoding - ANSWERS-the process of putting words, thoughts, messages into symbolic form in such a way
that they will be understood by the receiver/consumer
- symbols are particularly good for this
The Channel - ANSWERShow the communication travels from the source to the receiver
The Channel Two Types - ANSWERSNonpersonal channels:
-no personal contact with consumer
-Print, broadcast
Personal channels:
-involves direct contact
-Direct selling
-Salespeople
-WOM
-"Buzz marketing"
Buzz Marketing - ANSWERS-a subset of "viral marketing" wherein companies hire socially active
consumers to promote products to their friends, relatives, and acquaintances.
-consumers are typically unaware that the person is on the "payroll"
Decoding - ANSWERS-The process of transforming the message back into thought.
-The key is for the decoded message to resemble the encoded message.
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