Advertising TECEP

marketing mix

(4Ps) product, price, place/distribution, and promotion

direct mail

(a form of direct response advertising) advantages: targetability, measurability, accountability (it can be financially justified), flexibility, and effeciency -mailing lists: internal/house lists (current or prospective customers) & external: either house lists of other companies or compiled lists (bought from other companies)

direct-response advertising

(a major form of direct marketing) communicating through mediums which encourage buyers to purchase directly from the advertiser (ex. advertising on a certain website and measuring click-through and purchasing traffic rates, telemarketing, direct mail, "call now" TV advertising)

advertising

(a subcategory of marketing) non-personal communication paid for by a sponsor (this isn't just an expense, it's an investment) -it should: inform, influence, remind and increase salience (prominance in the customer's mind and memorable), add value, and assist your other company efforts -you have lots of control over making it but not over how it's received & it's never neutral or unbiased

emotion-based & message-based persuasion

(both use central processing) relating the message to their own situation & processing the message's arguments

classical conditioning

(by Ivan Pavlov) exemplified by training dogs: bell (CS) → meat powder (US) → salivate (UR) → (repeat) → bell (CS) → salivate (CR) -U = unconditioned & S = stimulus & R = response (US naturally → UR & after training, CS naturally → CR) [this can also apply to persuading customers through peripheral cues/US]

direct response tv advertising (DRTV)

(in the form of an infomercial or 30, 60, or 120 second long commercial) asks viewers to make an immediate response (ex. "Call now and we'll throw in a free...!")

PRIZMNE

(made/administered by Nielsen Claritas; Potential Rating Index by ZIP Markets, New Evolution) geodeomographic segmentation/categorization method by zip code in 1 of 66 different clusters with creative names (includes characteristics like age, income, education)

multi-level marketing & single-level marketing

(often used in direct selling) salespeople are paid for selling and for sales made by the people they recruit or sponsor (pyramid selling = similar but it relies on getting paid based on commissions from people you recruit) & salespeople are only paid for sales they personally make

sign & symbol

(singers sing; runners run; dancers dance; signs signify) external stimulus which convey meaning depending on culture, context, etc. & represents something else (possible metaphorically)

corrective advertising

(the FTC can order this) Advertising that clarifies or qualifies previous deceptive advertising claims.

regulations

-benefits: customer choice (they force companies to be truthful), this additional information causes product quality to improve, and reduced prices -disadvantages: the (additional) cost (for companies) of complying, enforcement costs (for the regulatory agencies), and unintended side effects

good brand names

-distinct from competitive brand names -facilitate consumer learning of brand associations -compatible with the brand's desired image and its packaging -memorable and easy to pronounce -process: specify brand name objectives, brainstorm names, evaluate names, choose a name, and trademark

criticisms against advertising

-it's untruthful/deceptive -it's manipulative -it's offensive/in bad taste (insults our intelligence, vulgar, inappropriate, outlandish humor, excessive repetition of the same ads) -it creates/perpetuates stereotypes -it persuades people to buy things they don't really need -it plays on people's fears and insecurities

ethical issues

-lying/misleading/misrepresenting information on the packaging, copying a popular brand's packaging, not making the packaging safe enough (ex. safe for children and safe from tampering) -slotting allowances, making consumers think their odds of winning are better than they actually are or not awarding the prizes from a sweepstakes, etc. -invading people's online privacy (collecting/selling consumer info/statistics), and paying bloggers/people to drum up business as if it were a personal opinion

brand logo

-part of the trade dress which represents the brand, they should be recognizable, convey the same meaning to all target members, and evoke positive feelings -research shows that moderately detailed ones are better than too simple or too complex, and natural designs are better than abstract ones -changes usually have a negative effect on loyal customers of an established brand

brand equity models

1. Brand Asset Valuator - differentiation, relevance (customer identification), (brand's level of) esteem, and knowledge (customer's familiarity) 2. Dimensions of Brand Knowledge - brand awareness (knowledge of brand's existence: brand recall > brand recognition), and brand image (feelings/views toward brand: favorability, strength, and uniqueness are good in associations & are based on attributes [product related or not, ex. features vs. price], benefits [functional, symbolic, or experiential], or overall evaluation/attitude) 3. Brand Awareness Pyramid - trying to increase your brand awareness (and ultimately achieve front/top-of-mid awareness/TOMA, where your product is the most thought of in its category) 4. Customer-Based Brand Equity Model - (http://image.slidesharecdn.com/cbbepyramid-100131204801-phpapp02/95/customer-based-brand-equity-pyramid-1-728.jpg?cb=1264970897 & http://image.slidesharecdn.com/chp2-posted-111116144240-phpapp01/95/customer-based-brand-equity-14-728.jpg?cb=1321455638) 5. Brand Dynamics Pyramid - (bottom to top:) presence, relevance, performance, advantage, and bonding 6. Brand-Related Personality Dimensions - most common: sincerity, excitement, competence, sophistication, and ruggedness

tests of ethicality

1. Golden Rule: would you want others to act the same way towards you? 2. professional ethics: would an objective panel of your professional colleges view the action as proper? 3. TV/headline: would you want/be comfortable if it were put on tv or published for the public to know you did it? 4. categorical imperative: would you want everyone to act that way?

tactics to increase motivation, opportunity, and ability

1. appealing to information or hedonic needs, use novel stimuli (unusual, distinctive, unpredictable, and somewhat unexpected & breaking through habituation), use intense and prominent cues (loud, bright, colorful, big, etc to gain involuntary attention/hard to ignore), use motion/movement, make the brand more relevant to the consumer, increase the consumer's curiosity about brand 2. make it easy for the audience to encode your message into their memory (using repetition is one method), reduce the processing time it takes to understand your message (using pictures and imagery create a total-message/gestalt processing so audience members can encode your whole message instead of each element of it) 3. helping consumers access existing knowledge structure (associations/links in the customer's memory regarding the product) by connecting info with info they already have in their memory (putting the message in context helps, ex. verbal framing = words with picture which help them make sense) or help them create new knowledge structures (exemplar-based learning = giving demonstrations or analogies to help consumers make connection which help them understand your message)

age groups

1. children and teens = < 20 yo (todlers < 4-12 = kids < teenagers) -preshoolers = < 5 & elementry school = 6-11 (influence parents) & tweens = 8-12 (opinions and popular/fads) 2. young adults = 20-34 yo 3. middle agers = 35-54 yo 4. olders/mature = 55-64 yo 5. elders = 65-74 yo -healthy hermits & ailing outgoers & frail recluses & healthy indulgers 6. the very old = 75+ yo

FTC (Federal Trade Commission) regulations

1. deceptive advertising: a representation, omission, or practice that is likely to mislead the consumer (to the customer's detriment) acting reasonably in the circumstances & covert/masked advertising is using sources which people don't expect to be advertising as ways of promoting messages about their product (ex. buzz-building/viral campaigns, and infomercial which appear to be tv programs) 2. unfair practices: acts that are likely to cause substantial injury to consumers which aren't reasonably avoidable by consumers, and which aren't outweighed by benefits to the consumers or competition & (applied to three areas: advertising substantiation, promotions directed at children or other vulnerable populations, and trade regulation rules [ex. Children's Online Privacy Protection Act of 1998 protecting < 13yo]) 3. information regulation: giving consumer the information they need (the 1966 Fair Packaging and Labeling Act regulates price-off labeling in order to not trick consumers into thinking something is on sale when it is continually "on sale")

enhancing brand equity

1. letting the brand's excellence speak for itself 2. creating appealing messages 3. leveraging positive associations that already exist (ex. connecting your brand with having a lot of friends and a fun time), you can use the current reputation of people (creators or endorsers), things (ex. sponsering and causes), places (ex. "made in the USA" or at a popular retailer), and other brands (co-branding [joint venture products or CRM], ingrediant branding [a branded product inside another product; ex. "intel inside"]) to your advantage by associating your brand with them

marcom program evaluation

1. measuring results 2. providing feedback 3. taking corrective action

marcom implementation decisions

1. mixing elements - advertising (creating long-term equity) and sales promotion (short-term sales increase) are both important 2. creating messages - messages should align with the brand's positioning and objectives 3. selecting media - there are many options which have different benefits/ideal applications 4. establishing momentum - follow ups and reinforcement are important to keep your campaign effective

memory

1. multiple store approach: long-term/LTM, short-term or working/STM (which has a limited processing ability), and sensory stores/SS & (-one or more sensory preceptors [each of the senses] then -sent to the appropriate SS which is rapidly lost unless -if the info is payed attention to it's sent to STM where it says for < 30 seconds -possible goes into LTM which is organized into schemata/organization packets/knowledge structures [connections] which are thought to be unlimited storage) 2. levels of processing approach: people have limited processing capacity so they have to manage/allocate their processing power accordingly & lower-level sensory analysis would use less processing capacity than higher and deeper levels of sensory analysis 3. spreading activation theory: links between concepts and memories are dependent on the strength and importance of the links in the network & when a concept is primed, activation is spread to the connected links (getting weaker the farther away it gets)

personal selling steps

1. prospecting and qualifying (finding potential buyers who have the need and ability to buy the product) 2. preapproach (set up a metting with the prospect and gather important information about them) 3. approach (after first contact/meeting you choosing the appropriate approach: referring to a current client the prospect knows, giving them a small gift, offering them a benefit/coupon/research/etc., ask them an intriguing question, let them examine a sample product, etc.) 4. sales presentation (giving the sales pitch) -SPIN method (to understand their unique situation): situation, problem, implication (explore the consequences of their problems), and need-payoff (helping prospects make the connection between how the product will help them personally) questions 5. handling objections (helping prospects overcome their reasons to not buy the product) 6. close (trying to get some sort of commitment from the prospect: a purchase, or just moving them in the right direction by leaving a sample, etc.) 7. follow-up (attempting to reduce the consumer's post-purchase anxiety/cognitive dissonance which are common which high-involvement purchases; this also strengthens the relationship)

persuasive tools observed by Robert Cialdini

1. reciprocation ("returning the favor"; giving gifts/free samples) 2. commitment and consistency (committing to something [especially in public] and the fact that people want to be consistent [instead of hypocritical] both increase the likelihood of them doing something, this is especially effective if the person spent a lot of time into personally choosing that decision) 3. social proof ("everybody else is doing it") 4. liking (we are more likely to accept a message when we like the person giving it & common aspects: physical attractiveness, similarity) 5. authority (if the person giving the message has authority [regardless of the area] the message will be more believed, ex. scientist, president, doctor, engineer, atheletes, etc.) 6. scarcity (when something is rare/"limited supply" it seems more urgent and like a once in a lifetime offer)

fundamental marcom decisions

1. targeting - finding and only communicating with target audience 2. positioning - (it can be based on product benefits, typical users, or in relation to competitors) brand positioning is your brand's focus and shapes the way your brand is thought of by your target audience, highlighting the key feature/benefit 3. setting objectives - what is the communication supposed to do/accomplish? this will affect your strategy and medium 4. budgeting - top-down/TD = senior management decides allotted money & bottom-up/BU = the manager of the advertising department decides on allotted money amount

key IMC features

1. your approach should start with the customer/prospect instead of the company ("outside-in") ~give the customer control/product or service on their terms, more personably contact customers how they want to be contacted 2. use any form of relevant contact (touch point/contact = any message medium capable of reaching target customers and presenting the brand favorably) ~360-degree branding means the brand's touch points should surround the target audience 3. all your marketing should speak with a single voice (to avoid duplicated efforts or contradictory messages) ~have a positioning statement which encapsulates what your brand intends to stand for and base your marketing on that 4. build relationships (an enduring link) between your brand and customers ~aid customer retention, and loyalty (give them something to continue voluntarily coming back for instead of choosing a competitor), ex. loyalty programs, special events, positive experience with product/service 5. remember the goal is to affect behavior/get results

B2C & B2B

Business to Consumer & Business to Business

figurative

Language that communicates ideas beyond the ordinary or literal meaning of the words. -simile (a comparison using the words "like" and "as") -metaphor (a comparison that doesn't use "like" or "as"; ignites your imagination but must be clearly understood) -allegory (an extended metaphor/story in which the characters and events represent other things) -personification (giving human qualities to a nonhuman)

marketing public relations (MPR)

PR that focuses on getting customers (credibility's crucial) -proactive: communicates the brand's merits and usually takes advantage of other marcom tools; on offense, seeking opportunities instead of solving problems (publicity for product releases, executive statements, and feature articles are the main types, as well as guerrilla marketing, diffusion marketing, and street marketing) -reactive: tries to fix problems which have arisen (conspiracy [the company has policies,etc. which are undesirable to customers] and contamination [a product or store has undesirable/harmful features] rumors are some things which need to be responded to)

communication process

[developed by Wilbur Schramm] source → communication objective → message → message channel(s) → receiver → communication outcome (what happens as a result) → feedback (often not formally/directly given) → (which is seen by the source) ~noise/interference is found along the entire process

hierarchies of effects models

[ex. AIDA & DAGMAR] learning → feeling → doing 1. high involvement/standard learning hierarchy/extended problem solving: becoming aware, acquiring information, forming beliefs regarding the brand's ability to satisfy the consumer's need (cognition) → beliefs, feeling, and evaluations of the brand are developed and integrated (affect) → based on feelings and evaluations the consumer decides whether or not to purchase the brand (conation/purpose to do an action) 2. low involvement: minimal cognition → conation/behavior → affect 3. dissonance-attribution: conation → affect → cognition 4. limited problem solving: affect → conation → cognition 5. integrative models: (they depend on moderators, such as involvement)

attitude

a general and somewhat enduring positive or negative feeling toward/evaluating judgement of something

market segment

a group of customers who share a similar set of needs and wants

elasticity

a measure of how easily demand for a product fluctuates due to changes in price, advertising, etc. -elasticity of price = % change in quantity demanded ÷ % change in price [replace "price" with "advertising" to get that measurement]

customer lifetime value

a prediction of the net profit attributed to the entire future relationship with a customer (the net present value/NPV of the profit a company can get from the average new customer during a certain number of years) ~factors: -retention rate = the likelihood that a customer will stay a customer for 5 years -average yearly sales -total revenue = # of customers × average yearly sales (per customer) -total costs each year (costs of selling products) = total revenue × cost % of product price -gross profit = total revenue - total cost -discount rate (accounts for the fact that today's money isn't equal to it's value in the future, ex. today's money can be invested and start earning interest but future money can't, thus money earned in the future is worth less than the same amount earned today) = (1 + interest rate)^number of years before receiving the money -NPV profit = reciprical of the discount rate × gross profit -cumulative NPV profit = Σ the NPV profits of all the years -lifetime value per customer (the average worth of a customer) ~ways to increase lifetime value: increase the retention rate, increase the referral rate, increase the average purchase volume/amount, cut direct costs, and reduce marketing communications costs

human adaptation/habituation

adapting to and becoming desensitized to common things in your suroundings

location-based service (LBS)

advertisements, restaurant suggestions, etc. that change based on our phone's GPS tracking

promotional/communications mix

advertising, public relations, sales promotion, personal selling, direct marketing, and online marketing/social media (sometimes these areas are said or broken up differently)

theory of reasoned action (TORA)

all forms of planned behavior (not spontaneous or impulsive) are determined by attitudes and normative influences ~attitude formation: attutude toward brand = Σ the belif/expectation of using/buying the brand leading to a certain desired outcome × how desirable the certain outcome is -attitude changing strategies: change beliefs, alter outcome evaluations, or intrudce a new outcome into the evaluation process

marketing communications

all marketing mix variables working together to facilitate exchange by establishing shared meaning with its customers

Lanham Act of 1946

allows people to sue in order to receive fast relief from false advertising as well as monetary damages and attorney fees

psychographics

based on customers' lifestyle, attitudes, values, motivations, etc.

demographics

based on customers' physical attributes (ex. age, income, ethnicity, gender, etc.)

geodemographics

based on location (ex. where customers live, work,play, etc.)

behavioral segmentation

based on ways of behaving (ex. previous purchases, internet searches, etc.)

behavioral modification methods

classical and operant conditioning, shaping (changing the conditions which precede a behavior; John Watson introduced), modeling/vicarious learning (learning from others' mistakes/victories), etc.

communication

comes from a Latin word which means "common" & both people must be engaged in it in order to be effective (if one person isn't paying attention it won't work)

TACT

components of a behavior which should be considered in order to accurately measure attitudes: the target of the behavior, specific action, context of the behavior, and time when it happens & (directly experiencing something will lead to more accurate attitude-behavior correlation)

support arguments & counterarguments

confirm the message & refute and thinking of reasons why the message is wrong

source bolstering & source degration

confirming its credibility & refuting its credibility

brand adoption process

consumers accepting/buying new brands (first customers must know the product exists/awareness class, then they must try the product or service/trier class, then they must buy it again/repeater class) ~advantageous characteristics: -relative advantage (better than competition, however price and learning curve can be detrimental to people trying the product), -compatibility (perceived to fit how the consumer already does things), -complexity (if it is difficult to learn how to use people will be less inclined to take the time to try it), -trialability (people want to be able to test it out before making a commitment to a new product, ex. so they probably wouldn't buy a subscription they will be stuck with for 3 years), and -observability (the ability to see/feel/notice the positive results and difference of the new brand versus an old one & how noticeable it will be to other people that they are testing something, ex. a new hairstyle is more noticeable than a new perfume)

intellectual property

creations which the creator's are given exclusive rights to and which are protected under law -patents: gives monopoly rights exclusiely to the owner for 20 years without renewal (types: utility [protects use/function], design [protects appearance], and plant [agriculture]) -copyrights: protects the tangible *form* in which an idea or invention is expressed (includes a song, book, artwork, etc.); it's not necissary to register a copyright; a US copyright lasts for the author's life +70 years (or for a "work for hire": 90 years after publication or 120 yers after creation, whichever comes first) & fair use allows it to be used for the puposes of criticism, comments, news reporting, teaching, scholardhip, or research -trademarks: a distinctive sign or indicator used by an individual or entity; doesn't have to be registered but offers benefits

geotargeting

delivering different content to a website user based on his or her geographic location

morphemes & phonemes

derived from words or a combination of words & distinct units of sound that distinguish one word from another ("front" vowels [ones that say their name] vs. "back" vowels; research show that front vowels convey feminine traits)

database marketing (DBM)

direct marketing relies on this in order to and indirect marketing also uses it to collect and keep track of information about potential and current customers and target the most likely consumers (includes behavior, demographic, geographic, etc. info)

trade allowances

discounts or other financial benefits manufacturers offer to wholesalers and retailers 1. off-invoice = a fixed discount offered to a retailer during the specific time the deal is available -forward/bridge buying = when retailers buy enough of a product during deals that they don't have to buy any at the regular price -diverting = when a trade deal is restricted to a limited geographic location so retailers buy it and sell it for a slight profit to retailers who wheren't in that location 2. bill-back = earning discounts by either featuring the product in ads (joint advertising) or by making special displays for it 3. slotting/street money/stocking = additional fees retailers charge manufactures in order to make room in their warehouse and on their shelves to carry the new product -stock-keeping unit/SKU = a store's product identification code, often portrayed as a machine-readable bar code that helps the item to be tracked for inventory -deslotting = when contracts require a certain amount of a product then the retailer will stop selling the product and charge the manufacturer a fee (typically used for new products which are established and might fail) 4. everyday low pricing (EDLP)/value pricing (from manufacturers) = consistently offering an inexpensive price for a product instead of relying on promotions 5. pay-for-performance programs = giving retailers incentives for selling a certain amount of a product within the specified time of the deal (instead of off-invoice deals) -scanner-verified promotions/scan downs = bases retailers' sales volume on their scanned records from checkouts 6. account-specific/co-marketing = promotional advertising that's customized/tailored for a specific retailer (instead of offering everyone the same incentives)

American Association of Advertising Agencies (AAAA/4As) code of ethics

don't knowingly create advertisements which contain: -false, or misleading statements or exaggerations (visual or verbal) -testimonials which don't reflect the real opinion of the individual(s) involved -price claims that are misleading -claims insufficiently supported or that distort the true meaning or practical application of statements made by professionals or scientific authority -statements, suggestions, or pictures offensive to public decency or minority segments of the population

marcom outcomes

enhancing brand equity and affecting behavior

generations

exact dates vary depending on the source 1. baby boomers (born in the population boom of 1946-1964 right after WWII; aka boomers & want to continue youth) -the baby boomers had lots of kids (mini boom) but not as many as their parents (currently, there are fewer young adults) 2. gen x (born between 1965 and 1981; aka baby busters) -one marketing firm categorized into: Yup & Comers (most education and income), Bystanders (female Afro-Americans and Hispanics, lowish income, loves fashion/shopping), Playboys (white males, like pleasure before duty), and Drifters (frustrated with their lives, least educated, seek security and self-esteem) 3. gen y/millenials (born 1982-1996)

marketing mix modeling

figuring out what effect each element of a brand's marcom mix has on sales volume -formula [" = ditto]: sales volume during the period being analyzed = (expense for major element 1 × estimate of element 1's effects on sales) + (" for element 2) + (" for element 3) + ...

marketing

focuses on satisfying customer needs and wants through exchange process (usually: money for product)

PR/public relations & publicity

fostering goodwill between the company and its various publics (ex. employees, suppliers, consumers, government agencies, stockholders, etc.) & free non-personal (to a mass audience) communication (ex. news story)

FDA (Food and Drug Administration) regulations

has authority over food, tobacco, and drug products 1. product labeling: ex. nutrition facts (and trans fat per serving) 2. advertisements for prescription drugs: (direct-to-consumer/DTC advertising for these products has become more common) & balanced perspective (must include negative/side effects along with the benefits)

ethics and morality

important in marcom: honesty, honor, virtue, and integrity

green marketing

improving the environment and satisfying the customers (failing to actually improve the environment but pretending like you are is called greenwashing) -3 types: showing the relationship between the product/service and the environment, promoting a green lifestyle without highlighting a product/service, and ads showing corporate environmental responsibility -claims should 1) be specific, 2) reflect current disposal methods, 3) be substantive, and 4) be supportable

Advertising Self-Regulatory Council (ASRC)

includes all the other self regulatory agencies (ex. AAAA/4As, and NAD/National Advertising Division) which covers many different areas (ex. advertising, online, children, etc.)

the ability to charge premium prices

means that a brand's elasticity of demand becomes less elastic (aka demand becomes more stable/non-negotiable) as its equity increases

dual-coding theory

memory is improved when items can be represented by both verbal and visual memory codes (pictures instead of just non-imagery words)

heuristics

mental shortcuts or "rules of thumb" based on peripheral factors (to aid decision making) ~types: 1. affect referral (looking at how they feel about each option and choosing the best) 2. compensatory (the strengths of positives/negatives counteract/balance each other out) 3. noncompensatory (strengths and weaknesses don't balance each other out) -conjunctive model (a minimum level of satisfaction is required for the option to continue being considered and all aspects must meet the minimum requirements, ex. if it is above $X it is eliminated) -disjunctive model (there are minimum levels of satisfaction but only one area must meet or surpass the minimum in order to qualify) -lexicographic model (each characteristic is given a level of importance, ex. color is more important than size) 4. etc. or a combination

return on marketing investment (ROMI)

most commonly measured by: -incremental sales revenue generated by marketing -changes in brand awareness -total sales revenue generated by marketing activities -changes in purchase intention -changes in attitude toward the brand

personal/direct selling

paid person-to-person communication trying to sell products/services (ex. door-to-door salesmen, telemarketers, salespeople) -trade selling (sells products for manufacturers to grocery and drug stores, offering promotional and advertising assistance, and mainly works on servicing accounts) -missionary selling (sells products for manufacturers to wholesalers [who then sell it to retailers]; often used in the pharmsceuticals industry [and the wholesalers {aka detail reps/detailers} try to persuade doctors to prescribe them]) -technical selling (aka sales engineers; they are educated in a technical field and able to explain the complex workings of the product) -new-business selling (constantly try to get new customers because customers are infrequent buyers) -retail selling (the customer comes to the salesperson) -inside sales (ex. telemarketing)

exposure & the truth effect

people coming into contact with your message (number of people and frequency are important factors) & repeated message exposure makes it more likely that the message is true

psychological reactance

people react against/resist things which they perceive will threaten/reduce their freedom to choose to do what they want (this happens in appeals to scarcity)

user imagery & usage imagery

people's ideas of the types of people who use a certain brand & people's ideas of the ways people use a certain brand

sales promotions

promotional activities which attempt to stimulate short-term buyer behavior (ex. increase short-term sales) -trade (push efforts): giving the wholesalers/distributors and retailers a good deal -consumer (pull efforts): coupons, free samples, etc. for consumers -salesforce: a company might also give promotional benefits to their own sales force to encourage increased sales/competition -retail: attracting consumers to a specific retailer instead of a brand

concretizing & imagery

providing consumers with more concrete (versus abstract) information & visually descriptive or figurative language creating sensory experiences

QR codes

quick response code (scanned with smartphone and takes you directly to a website, coupon, etc.)

target markets

should be measurable, substantial, accessible, differentiable, and actionable ~strategies: -undifferentiated marketing (marketing to mass market) -differentiated marketing (separate marketing mixes applied to each segment) -concentrated marketing (one strategy is used to market to only one segment)

general purpose psychographic profiles

stock data about certain groups of people which advertisers can use (it's obtained quicker and cheaper than custom data) -Futures Company's MindBase is a common one (major categories: I am Expressive, Driven, At Capacity, Rock Steady, Down to Earth, Sophisticated, Measure Twice, and Devoted) -Strategic Business Insights'/SBI VALs (values, activities/attitudes, and lifestyles) system is another common one [resources/money/education, innovation ↕ higher = up] motivation: ideals & achievement & self-expression innovators thinkers & achievers & experiencers believers & strivers & makers survivors

data warehousing & data mining

storing information in order to have it later when it's needed & the process of analyzing data in a database to extract information not offered by the raw data alone (key factors: RFV/recency, frequency, and monetary value of purchases)

perceptual encoding

taking in info to determine/make judgements -step 1: feature analysis (examining the basic features of a stimulus) -step 2: active synthesis (paying attention to the context in which the information is received)

direct marketing & indirect marketing

targeting individuals with an interactive system of marketing which uses one or more advertising media to effect a measurable response and/or transaction/purchase at any location (ex. online, email, telemarketing, direct mail, social media, in person) & using intermediaries in the distribution channel

relational communications

the *way/form* you say something in is sometimes more important than what you actually say, relationships are tricky but important to maintain

trade dress

the appearance of a product or service to the consumer (ex. shape, color, lettering, packaging, sounds, design, style, etc.)

androgyny & adaptive selling

the degree to which individuals feel that they are characterized by traits associated with both men and women & changing your sales behavior/strategy during your interaction with the customer in order to most effectively sell to that individual customer in that situation

brand

the design elements (logo, graphic features, sign, symbol, design, etc.), statements (name, term, tagline, slogan, etc.), application of design and statements (corporate advertising, stationary, signage, livery = signage for vehicles or uniforms, etc.), or a combination of them intended to identify the goods or services of a seller (or group of sellers) and differentiate them from their competition, they sometimes have specific values (pirates try to steal aspects of a successful competitor)

revenue premium

the difference in the revenue (brand's net price × volume) of a branded item and a corresponding private-labeled/store brand item -formula: RP for brand = revenue of brand - revenue of private brand

brand equity

the goodwill that an established brand has built up

brand concept

the image that the sponsor wants the brand to have (often centered a specific functional, symbolic, or experiential need)

factors effecting persuasion

the strength and quality of your message's arguments, peripheral cues, the mode of communication (tv, radio, written, etc.), the receiver's involvement (which is effected by the message's relevance and the audience's involvement), the receiver's initial position/opinion on the subject

semiotics & semantics

the study of signs and the analysis of meaning-producing events (meaning is a constructive process, aka it's determined by both the sender and the receiver) & the branch of linguistics that is concerned with meaning

encoding & decoding

translating thought into symbolic form (ex. words) & interpreting/deriving meaning from a message

consumer processing model (CPM) & hedonic experiential model (HEM)

using reason/logic regarding purchases -(steps: being Exposed to info, paying Attention, Comprehending info, Agreeing with info, Retaining/remembering info, Retrieving info from memory, Deciding from alternatives/options, and Acting based on the decision), thus try to strengthen links/connections or make new ones & spontaneously following feelings/emotions regarding purchases (more often relied on if all options are positive or the consumer isn't concerned with getting the best price/deal, etc.)

integrated marketing communications (IMC)

using the promotional mix and marketing mix to optimize the communication of a consistent message (instead of using each segment to communicate a completely different message)

telemarketing

using the telephone to interact with and sell directly to consumers -toll-free (800, 855, 866, 877, and 888 numbers) -pay-per-call (900 numbers) -automatic call distributor/ACD (automated system which handles/filters incoming calls) -Telemarketing Sales Rule/TSR = law/regulation by the Federal Trade Commission in 1995 requiring telemarketers to clearly state their purposes and offers, record express permission for the sale, keep good record, etc. -the National Do Not Call Registry (supported by a Congressional mandate which was revised in 2007) allows people to register their phone numbers and avoid getting unsolicited calls (cell phones were automatically on the list; exceptions include: if it's a business phone, political calls, non-profit calls, companies which you have an existing business relationship with [have recently purchased], and bill collection agencies) -silent calls = calls generated by predictive dialing technology but often leave people who answer with disturbing silence -telesales = cold calling marketing

elaboration likelihood model (ELM)

whether or not and the degree of thinking about and engaging in a message the recipient will do depends on their (MOA:) 1) motivation, 2) opportunity, and 3) ability to process the message ~routes/processing (their high EL causes them to use central processing and low EL causes them to use peripheral processing): -central processing (thinking about and engaging in the actual message) -peripheral processing (paying attention to factors unrelated to the actual message, ex. the speaker's appearance, accent, the background, etc.) -dual routes/processing (using both to some degree) [central processing usually makes the impression last longer than when using peripheral processing]

syntax & kinds of meaning

word order (governed by grammar) & -denotative (dictionary definition), -connotative (implied or interpreted definition), -structural (based on sentence structure), and -contextual (context effects word usage and interpretation)