CSUF MKTG 351 Final Exam Review (Ron Imus MKTG 351 Final Exam Review) Rated 100% Correct!!
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CSUF MKTG 351
CSUF MKTG 351 Final Exam Review (Ron Imus MKTG 351 Final Exam Review) Rated 100% Correct!!
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 ...
CSUF MKTG 351 Final Exam Review (Ron Imus MKTG
351 Final Exam Review) Rated 100% Correct!!
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 strategy
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
mass communication, high control, relatively low cost per customer, low credibility
public relations
unpaid, effective, limited control, higher credibility
sales promotion
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
in-person selling, more costly; more effective; works well for high cost items; aimed to
inform and influence customers
social media
recent addition to promotional mix, shift of control of communication efforts to
consumers
Integrated Marketing Communications (IMC)
aims to align all elements of the promotional mix for the best possible results
marketing communication
the process by which marketers impress on the buyers the value that their products
have to offer
Promotional Goals
informing (early stages), persuading (late intro/ early maturity), reminding (later stages),
connecting (ongoing)
AIDA concept
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
-nature of the product
-stages in the product life cycle
, -type of buying decision
-push and pull strategies
nature of the product
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
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
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
Push: incentivize wholesalers or retailers to carry the product (ex. trade discounts)
Pull: incentivizes end consumers directly
advertising
impersonal, one-way mass communication paid for by a marketer to increase sales in
the long run
advertising response function
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
institutional and product
institutional advertising
Advertising that promotes organizational image as a whole; makes sense for parent
brands and advocacy advertising
advocacy advertising
a form of advertising in which companies promote a positive image or try to overcome
negative perceptions
product advertising
promotes individual products; three types:
pioneer, competitive, and comparative advertising
pioneer advertising
early stages of product; explaining benefits of product class, not brands
competitive advertising
growth stage of product; new companies enter market; shift to focus on persuasion of
individual brands
comparative advertising
explicit comparison made between brands; effective for smaller brands; more prominent
in highly competitive markets; illegal in many countries
advertising budget methods
percentage of sales method
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