MKT 3311 Principles of Marketing chapter 17

Identify Prospects

Certain types of promotional efforts directed at identifying customers who are interested in the firm's product and are most likely to buy it.

Encourage Product Trial

Promotion activities, Free samples, coupons, test drives or limited free-use offers, contests, and games make product trial convenient and low risk for potential customers.

Characteristics of the Target Market

The size, geographic distribution, and demographic characteristics of an organization's target market help dictate the ingredients to be included in a product's promotion mix.

Encoding or coding process

To transmit meaning, a source must convert the meaning into a series of signs or symbols representing ideas or concepts;

Facilitate Reseller Support

Use of various promotional methods helps organizations achieve this goal.

The Promotion Mix

When an organization combines specific methods to promote a particular product

Public Relations

a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders.

Advertising

a paid, non-personal communication about an organization and its products transmitted to a target audience through mass media, such as television, radio, the Internet, newspapers, magazines, direct mail, outdoor displays, and signs on mass transit vehicles.

Personal Selling

a paid, personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation.

Source

a person, group, or organization that has a meaning it attempts to share with an audience.

The Communication Process

a sharing of meaning. Implicit in this definition is the notion of transmission of information because sharing necessitates transmission.

Viral marketing

a strategy to get consumers to share a marketer's message, often through e-mail or online videos, in a way that spreads quickly and dramatically.

Sales Promotion

an activity or material that acts as a direct inducement offering added value or incentive for the product to resellers, salespeople, or customers; examples include free samples, games, rebates, sweepstakes, contests, premiums, and coupons.

Buzz marketing

an attempt to incite publicity and public excitement surrounding a product through a creative event.

Receiver

an individual, group, or organization that decodes a coded message; an audience is two or more receivers.

Noise

anything that reduces a communication's clarity and accuracy. It has many sources and may affect any or all parts of the communication.

Tactile communication

communicating through touching.

The Role and Objectives of Promotion

communication that builds and maintains favorable relationships by informing and persuading one or more audiences to view an organization more positively and to accept its products.

Primary demand

demand for a product category rather than for a specific brand of product.

Kinesic communication or body language

includes movement of one's head, eyes, arms, hands, legs, or torso.

Selective demand

is demand for a specific brand.

Combat Competitive Promotional Efforts

is most common in extremely competitive consumer products markets.

Channel capacity

limited volume of information the communication channel can effectively handle.

Retain Loyal Customers

major goal of most marketers.

Create Awareness

making customers aware of the product; promotional efforts aim to increase awareness of brands, product features, image-related issues, and/or operational characteristics.

Proxemic communication

occurs when either party varies the physical distance which separates the two parties.

Word-of-Mouth Communications

personal informal exchanges of communication that customers share with one another about products, brands, and companies

Decoding process

signs or symbols are converted by the receiver into concepts and ideas.

Integrated marketing communications.

the coordination of promotion and other marketing efforts to ensure the maximum informational and persuasive impact on customers

Pull Channel Policies

the firm promotes directly to consumers with the intention of developing a strong consumer demand for the products.

Communication channel

the means of carrying the coded message.

Push Channel Policies

the producer promotes the product to the next institution down the marketing channel.

Product Placement

the strategic location of products or product promotions within entertainment media content to reach the product's target market.

The goal of IMC

to send a consistent message to customers.