Integrated Marketing Communications Quiz 1

What is marketing communications also known as?

"Advertising and Promotions"

As brand parity increases...

private brands increase in popularity

What is another name for private brands?

Also known as store brands, in house brands, or private brands

What is stimulus codability?

Feeling attached to items that evoke consensually held meanings within a culture or subculture

What is brand metrics?

Measures of returns on brand investments

What is a brand?

Names, symbols, other identifiers applied to companies and/or products

What are the reasons for IMC?

1) Advance in technology 2) Change in channel power 3) Increase in global competition 4) Increase in brand parity 5) Emphasis on customer engagement 6) Increase in micro-marketing

What is the IMC mix?

1) Advertising: Print, broadcast, etc 2) Direct Response: Catalogues, infomercials, etc 3) Public Relations: Outreach, keeping with the message of the mission, etc 4) Sales Promotion: Communication programs to create a quick sale, added incentive, etc 5) Online marketing, social media, marketing 6) Trade shows 7) Investor Relations 8) Non-traditional media: support media 9) Branding 10) Personal Selling

What types of trends are there?

1) Age complexity - Loreal 2) Gender complexity - Target or cleaning ads focused on getting away from gender roles 3) Diverse Lifestyles - LGBTQ community has more money compared to having children 4) Active, Busy Lifestyles - More time vs money - Making it easier 5) Change in communication - Yelp reviews 6) Pursuit of Experience - Buying experiences rather than products 7) Emphasis on health and wellness

Why is brand equity important?

1) Allows for higher prices 2) Creates higher profit margins 3) Gives manufacturers power with retailers 4) Helps obtain retail shelf space 5) Protection against switching to a competitive company 6) Helps maintain market share and competitive advantage

Why is corporate and brand image important to companies?

1) Extend positive feelings to new products 2) Ability to charge higher prices 3) Consumer loyalty 4) Positive word-of-mouth 5) Higher level of channel power 6) Recruitment of new employees

What is brand power?

1) Familiarity, experience, and trust 2) User association 3) Appearance (design and packaging 4) Faith 5) Experience delivered

What are the perceptions of risk?

1) Financial 2) Functional 3) Physical 4) Social 5) Psychological

Why is corporate and brand image important?

1) Gives consumers confidence 2) Gives assurance(s) about purchases 3) Minimizes consumers search time 4) Adds psychological reinforcement and social acceptance of purchases

How do you identify a problem?

1) Information search 2) Evaluate alternatives 3) Purchase decisions 4) Post-purchase evaluation 5)

Why do we spend billions annually on marketing communications activities?

1) It works 2) R.O.I 3) Awareness, Interest, Excitement 4) High reach 5) Differentiation 6) Competitive advantage 7) Company benefits 8) Reputation 9) Brand loyalty 10) Inform and educate

What are the 5 M's?

1) Mission: What are we trying to accomplish? 2) Money: How much can be invested? 3) Message: What messages do you want to get across? 4) Media: What media channel are to be used? 5) Measurement: How will results be measured and assessed? How did we improve or fall short?

What are the components of corporate image?

1) Products sold 2) Retail outlets where products are sold 3) Marketing communications 4) Corporate name and logo 5) Packaging 6) Environmental policies, CSR 7) Company culture

How can you reduce risks?

1) Providing lots of information 2) Demonstrations 3) Free trials 4) Guarantees and Warrantees 5) Association with other organizations 6) Endorsements 7) Testimonial of satisfaction

What will advertising not do?

1) Sell a bad product... twice 2) Sell an overpriced product 3) Sell a poorly distributed product 4) Sell a product for which there is no perceived need 5) Work overnight

What is ingredient branding?

A form of co-branding in which one brand is placed within another brand

What is cooperative branding?

A form of co-branding in which two firms create a joint venture of two or more brands into a new good or service

What is a salient?

A situation in which consumers are aware of the brand, have it in their consideration sets (things they consider when making purchases), regard the product and brand as a good value, buy it or use it on a regular basis, and recommend it to others

What is a flanker brand?

The development of a new brand by a company in a good or service category in which it currently has a brand offering

What is co-branding?

The marketing or alliance of two or more brands in a single marketing effort

What is brand equity?

The perception that a good or service with a given brand name is different, better, and can be trusted

What is a brand extension?

The use of an established brand name on goods or services not related to the core brand

What is the definition of IMC mix?

Various communication components, or elements, that combine to achieve advertising

What is brand parity?

View of consumers that few tangible distinctions exist between competing brands in mature markets

What is problem identification?

When you experience a need or want. When you're dissatisfied.

When should you change corporate image

collapsing

Many consumers are more price sensitive and...

less brand loyal