BUAD 471 Exam 1

Brand Manager

The person responsible for the planning, implementation, and control of the marketing program for an individual brand.

External Analysis

The phase of the promotional planning process that focuses on factors such as the characteristics of an organization's customers, market segments, positioning strategies, competitors, and marketing environment.

80/20 Rule

20% of their buyers account for 80% of their sales volume.

Financial Audit

An aspect of the advertising agency evaluation process that focuses on how the agency conducts financial affairs related to servicing a client.

Integrated Marketing Communications Plan

A document that provides the framework for developing, implementing, and controlling an organization's integrated marketing communications program.

Advertising Agency

A firm that specializes in the creation, production, and placement of advertising messages and may provide other services that facilitate the marketing communications process.

Direct - Response Advertising

A form of advertising for a product or service that elicits a sales response directly from the advertiser.

Incentive Based System

A form of compensation whereby an advertising agency's compensation level depends on how well it meets predetermined performance goals such as sales or market share.

Qualitative Audit

An audit of the advertising agency's efforts in planning, developing, and implementing the client's communications programs.

Fixed-Fee Method

A method of agency compensation whereby the agency and client agree on the work to be done and the amount of money the agency will be paid for its services.

Demographic Segmentation

A method of segmenting a market based on the demographic characteristics of consumers.

Behavioristic Segmentation

A method of segmenting a market by dividing consumers into groups based on their usage, loyalties, or buying responses to a product or service.

Geographic Segmentation

A method of segmenting a market on the basis of different geographic units or areas.

Benefit Segmentation

A method of segmenting markets on the basis of the major benefits consumers seek in a product or service.

Selective Attention

A perceptual process in which consumers choose to attend to some stimuli and not others.

Selective Exposure

A process whereby consumers choose whether or not to make themselves available to media and message information.

Cognitive Dissonance

A state of psychological tension or post purchase doubt that a consumer may experience after making a purchase decision. This tension often leads the consumer to try to reduce it by seeking supportive information.

Integrated Marketing Communications (IMC)

A strategic business process used to develop, execute, and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates, and other targeted relevant external and internal audiences. The goal is to both generate short-term financial returns and build long term brand and shareholder value.

Promotional Pull Strategizing

A strategy in which advertising and promotion efforts are targeted at the ultimate consumers to encourage them to purchase the manufacturer's brand.

Promotional Push Strategizing

A strategy in which advertising and promotional efforts are targeted to the trade to attempt to get them to promote and sell the product to the ultimate consumer.

Undifferentiated Marketing

A strategy in which market segment differences are ignored and one product or service is offered to the entire market.

Fee Commission Combination

A type of compensation system whereby an advertising agency establishes a fixed monthly fee for its services to a client and media commissions received by the agency are credited against the fee.

Concentrated Marketing

A type of marketing strategy whereby a firm chooses to focus its marketing efforts on one particular market segment.

Differentiated Marketing

A type of marketing strategy whereby a firm offers products or services to a number of market segments and develops separate marketing strategies for each.

Hierarchy of Needs

Abraham Maslow's theory that human needs are arranged in an order or hierarchy based on their importance. The need hierarchy includes physiological, safety, social/love and belonging, esteem, and self-actualization needs.

Trade Advertising

Advertising targeted to wholesalers and retailers.

Digital/Interactive Agency

Agencies that specialize in the development and strategic use of various digital and interactive marketing tools such as websites for the Internet, banner ads, search engine optimization, mobile marketing, and social media campaigns.

Full Service Agency

An advertising agency that offers clients a full range of marketing and communications services, including the planning, creating, producing, and placing of advertising messages and other forms of promotion.

Category Management System

An organizational system whereby managers have responsibility for the marketing programs for a particular category or line of products.

Decentralized System

An organizational system whereby planning and decision-making responsibility for marketing, advertising, and promotion lies with a product/brand manager or management team rather than a centralized department.

Collateral Services

Companies that provide companies with specialized services such as package design, advertising production, and marketing research.

Psychographic Segmentation

Dividing the product on the basis of personality and/or lifestyles.

Contact (or Touch) Point

Each and every opportunity a consumer has to see or hear about a company and/or its brands or have an encounter or experience with it.

Market Segments

Identifiable groups of customers sharing similar needs, wants, or other characteristics that make them likely to respond in a similar fashion to a marketing program.

Specialized Marketing Communication Services

Organizations that provide marketing communication services in their areas of expertise including direct marketing, public relations, and sales promotion firms.

Functional Consequences

Outcomes of product or service usage that are tangible and can be directly experienced by a consumer.

Brand Loyalty

Preference by a consumer for a particular brand that results in continual purchase of it.

Psychosocial Consequences

Purchase decision consequences that are intangible, subjective, and personal.

Competitive Advantage

Something unique or special that a firm does or possesses that provides an advantage over its competitors.

Positioning

The art and science of fitting the product or service to one or more segments of the market in such a way as to set it meaningfully apart from competition.

Brand Identity

The combination of the name, logo, symbols, design, packaging, image and associations held by consumers toward a brand.

Culture

The complexity of learned meanings, values, norms, and customs shared by members of a society.

Marketing Mix

The controllable elements of a marketing program including product, price, promotion, and place.

Advertising Manager

The individual in an organization who is responsible for the planning, coordinating, budgeting, and implementing of the advertising program.

Account Executive

The individual who serves as the liaison between the advertising agency and the client. They are responsible for managing all of the services the agency provides to the client and representing the agency's point of view to the client.

Brand Equity

The intangible asset of added value or good-will that results from the favorable image, impressions of differentiation, and/or the strength of consumer attachment of a company name, brand name, or trademark.

Public Relations

The management function that evaluates public attitudes, identifies the policies and procedures of an individual or organization with the public interest, and executes a program to earn public understanding and acceptance.

Group System

The organization of an advertising agency by dividing it into groups consisting of specialists from various departments such as creative, media, marketing services, and other areas. These groups work together to service particular accounts.

Departmental System

The organization of an advertising agency into departments based on functions such as account services, creative, media, marketing services, and administration.

Selective Perception

The perceptual process involving the filtering or screening of exposure, attention, comprehension, and retention.

Selective Comprehension

The perceptual process whereby consumers interpret information based on their attitudes, beliefs, motives, and experiences.

Selective Retention

The perceptual process whereby consumers remember some information but not all.

Internal Analysis

The phase of the promotional planning process that focuses on the product/service offering and the firm itself, including the capabilities of the firm and its ability to develop and implement a successful integrated marketing communications program.

Consumer Behavior

The process and activities that people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services so as to satisfy their needs and desires.

Internal Search

The process by which a consumer acquires information by accessing past experiences or knowledge stored in memory.

Market Segmentation

The process of dividing a market into distinct groups that have common needs and will respond similarly to a marketing action.

Integrated Marketing Communications Management

The process of planning, executing, evaluating, and controlling the use of various promotional-mix elements to effectively communicate with a target audience.

Shaping

The reinforcement of successive acts that lead to desired behavior pattern or response.

External Search

The search process whereby consumers seek and acquire information from external sources such as advertising, other people, or public sources.

Promotional Mix

The tools used to accomplish an organization's communications objective. This includes advertising, direct marketing, sales promotion, publicity/public relations, and personal selling.

Integrations Processes

The way information such as product knowledge, meanings, and beliefs is combined to evaluate two or more alternatives.