Mktg 4304 final
Freestanding inserts (FSIs)
Most coupons are sent through print media with free standing inserts (FSI) accounting for about 88% of all coupons distributed. The advantage of using FSIs is that consumers must make a conscious effort to clip the coupon. This helps create brand awareness and encourages a purchase on the next trip to the store.
Storyboard
Used to evaluate already-made broadcast ads
Ambush marketing
a brand's association with an event when the brand has not paid the rights to be an official sponsor.
Slotting fees
A fee charged by retailers to stock new products
corporate social responsibility
Companies have an obligation to act ethically and to consider the needs of society. Consumers today expect corporate transparency. It is the responsibility of management to ensure the company and its employees act in a socially-responsible manner. Organizations need ethical guidelines for employees, a code of ethics, and an ethical hotline. It is the public relations department's charge to make sure internal stakeholders are aware of a corporations social responsibility efforts.
Theater test
Copytesting can occur during the final stages of development or after an ad is finished. The purpose of copytesting is to evaluate the main message and format of the ad. Portfolio tests are used with print ads and theater tests with TV ads.
CRM
Customer relationship management (CRM) programs were built on the premise of using database technology to customize products and communications to meet the needs of individual customers and to enhance their relationship with the company.
Opportunities to see
Even with high coverage, it is insufficient for a target audience member to have just one 'Opportunity To See' (OTS) the advertisement. In traditional media, around five OTS are believed required for a reasonable impact. To build attitudes that lead to brand switching may require more. To achieve five OTS, even in only 70 percent of the overall audience, may require 20 or 30 peak-time transmissions of a commercial, or a significant number of insertions of press advertisements in the national media. As these figures suggest, most consumers simply don't see the commercials that often (whereas the brand manager, say, sees every one and has already seen them many times before their first transmission, and so is justifiably bored).
Greenwashing
Faking green marketing
Frequency
Frequency is the number of times your schedule was exposed to an average person or household during a time period. For example, if your commercials, due to repetition, reached a total of 30 million households in a region that has 10 million households, the number would be 3.
Spiff money
Funds used in trade contests
Gross Rating Points
Gross Rating Points (GRPs) equal Reach times Frequency, expressed as a percentage. GRPs measure the total of all Rating Points during an advertising campaign. A Rating Point is one percent of the potential audience. For example, if 25 percent of all targeted televisions are tuned a show that contains your commercial, you have 25 Rating Points.
Gross Impressions
Number of total exposures of the audience to an advertisement
Public Relations
Public relations role is to identify and monitor internal and external stakeholders. PR should assess and monitor the corporate reputation and audit its corporate social responsibility. PR can be used to create positive, image-building activities that will reflect positively on a company. It also has the responsibility to prevent and reduce image damage from negative events.
Media Multiplier Effect
The combined impact of using two or more media is stronger than using either medium alone
Sponsorship management
To build brand equity and positive feelings toward a company, companies often engage in sponsorships and event marketing. The premise behind sponsorships is that positive feelings toward the sport, athlete, team, concert, or whatever is being sponsored will be transferred to the brand.
Puffery
an exaggerated claim about your product and is not intended to be a factual statement
Stealth marketing
attempt to get consumers to look at a product through a personal contact without them every realizing it was a sales pitch
Impression management
attempt to project a certain type of image to others and to consciously or unconsciously attempt to control the images that are projected in real or imagined social interactions
Trade incentives
channel member must perform some type of marketing function to receive the funds. Most trade incentives are with retailers. The three types are cooperative merchandising agreements, premium or bonus packs, and cooperative advertising programs.
Cause related marketing
program whereby a firm ties a marketing program to a charity in order to generate goodwill
Cost per Thousand (CPM)
commonly used measurement in advertising. Radio, television, newspaper, magazine, out-of-home advertising, and online advertising can be purchased on the basis of showing the ad to one thousand viewers.
Crisis management
company can either accept the blame for an event and offer an apology or they can refute the charges against them. Form of damage control.
Green marketing
development and promotion of products that are environmentally safe
Effective frequency
effective frequency is the number of times a person must be exposed to an advertising message before a response is made and before exposure is considered wasteful.
Online evaluation metrics
evaluations examine online advertising and marketing campaign with the unique measures the Internet is able to capture
stakeholder
is any person or group that has a vested interest in an organization's activities
Relationship selling
is building relationships rather than just making a sale
Brand infringement
is using a brand name that is already being used or a brand name that is very close to another brand name with the intent of capturing sales from its popularity
Metrics
measurements. Can be click-through or length-of-engagement
Cognitive neuroscience
measures brainwave activity and is the latest advance in advertising research. It is a better indicator of a person's true reaction since it does not rely on self-reporting.
Data mining
mining the data for useful information
Homeostasis
natural craving for a balance in life
Cross promotion
once event is over. can be used to increase the impact of an event marketing program. Cross-promote with the event's advertising program and publicity releases. Cross-promote with other event sponsors.
Brand parity
quality becomes less of a concern, because consumers believe that only minor quality differences exist between brands
Damage control
reacting to negative events, regardless of the cause
Lifetime Value
represents the present value of future profits a customer will generate over his or her lifetime relationship with a company.
Warmth monitor
similar to the computer mouse used by Millward Brown to measure emotions during copytesting. The disadvantage is the emotions are still self-reported.
Event marketing
sponsorship marketing only involves a company's support of a specific event
Corrective advertisements
the company must run a series of ads to correct the false and deceptive advertising and bring people back to the neutral state before the deceptive advertising. FTC can require this
Ratings
the evaluation or assessment of something, in terms of quality (as with a critic rating a novel), quantity (as with an athlete being rated by his or her statistics), or some combination of both.
hit
the mention of the company's name (or its brands) in a news story or in any media
Direct response/Direct marketing
the targeting of goods and services to customers without the use of other channels of distribution.
Reach
total number of different people or households exposed, at least once, to a medium during a given period. Reach should not be confused with the number of people who will actually be exposed to and consume the advertising, though. It is just the number of people who are exposed to the medium and therefore have an opportunity to see or hear the ad or commercial.