Promotional Mix
1) advertising
2) public relations
3) sales promotions
4) personal selling
5) social media
promotion
Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
promotional st...
CSUF MKTG 351 FINAL EXAM REVIEW 144 QUESTIONS AND ANSWERS
Promotional Mix - answer 1) advertising
2) public relations
3) sales promotions
4) personal selling
5) social media
promotion - answer Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
promotional strategy - answer a plan for the optimal use of the elements of promotion to elicit a particular response; main goal is to convince buyers that the products offer competitive advantage
advertising - answer mass communication, high control, relatively low cost per customer, low credibility
public relations - answer unpaid, effective, limited control, higher credibility
sales promotion - answer all non-advertising and public relations activities that focus on promoting sales; typically short-term although may have spillover long-term effect; intended to induce product trial and additional sales
personal selling - answer in-person selling, more costly; more effective; works well for high cost items; aimed to inform and influence customers social media - answer recent addition to promotional mix, shift of control of communication efforts to consumers
Integrated Marketing Communications (IMC) - answer aims to align all elements of the promotional mix for the best possible results
marketing communication - answer the process by which marketers impress on the buyers the value that their products have to offer
Promotional Goals - answer informing (early stages), persuading (late intro/ early maturity), reminding (later stages), connecting (ongoing)
AIDA concept - answer Attention: gain awareness of target market
Interest: create appealing message for target market
Desire: convince to create preference for
Action: communication should have call to action- go out and buy it
factors affecting promotional mix - answer -nature of the product
-stages in the product life cycle
-type of buying decision
-push and pull strategies
nature of the product - answer mass media (advertising) will work well for mass produced, consumer products where personal selling will work better for customized, business products
Stages of Product Life Cycle - answer early stage: advertising/public relation for awareness and sales promotion to induce trial growth stage: advertising and public relations for establishing differential advantage, reduce sales promotion maturity stage: persuasive reminder advertising and sales promotion to increase sales
decline stage: advertising reduced, personal selling efforts continue
Type of Buying Decision - answer simple/routine: require no deliberation, reminder advertising and sales promotion can be very effective
complex/ high involvement: personal selling can work well
Push and Pull Strategies - answer Push: incentivize wholesalers or retailers to carry the product (ex. trade discounts)
Pull: incentivizes end consumers directly
advertising - answer impersonal, one-way mass communication paid for by a marketer to increase sales in the long run
advertising response function - answer elongated S shaped figure- starts with too little to do much for sales, moves over to relatively high effectiveness where increase will lead to increase in sales, then to a saturation point where more advertisement won't do much
Major Types of Advertising - answer institutional and product
institutional advertising - answer Advertising that promotes organizational image as a whole; makes sense for parent brands and advocacy advertising
advocacy advertising - answer a form of advertising in which companies promote a positive image or try to overcome negative perceptions
product advertising - answer promotes individual products; three types:
pioneer, competitive, and comparative advertising
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