Mgt ch 10

Impression

When someone notices a promo effort

OOH

"out of home" and refers to advertising people will encounter when away from home. This includes posters, digital and print ads in transit shelters, at airports and venues with major foot traffic, and digital and conventional billboards and signage.

Trade Association

(professional association) Group of people in same industry who band together and gather and share info and represent industry to the public and government

media content strategy plan

A document, for the managers and employees of the firm to see, that details the specifics of the firm's marketing efforts including the goals, target audiences, distribution channels, keywords, content types, calendar, publishing procedures, action items, KPIs, and analytics across all the different types of marketing efforts the firm will attempt

search engine optimization (SEO)

A general approach to website design intended to result in the site being displayed toward the beginning of a search engine's (e.g., Google, Yahoo!, etc.) listing for that term

brand ambassador

A person who represents your brand, company, product, or service to others to increase brand awareness, sales, and positive attitudes among the public. They can be paid or volunteer. They often receive your products and services to use and show off to the public. Also called a spokesperson

diversification

A strategy whose goal is growth based on adding new products or services to the firm's existing collection of offerings

market expansion

A strategy whose goal is growth, based on selling in areas or to groups previously not served by the business

customer vector report

A type of CRM report that segments by customer (or customer group) on purchases or dates of purchase

press release

A written announcement intended to draw news media attention to a specific event

Community service

Activities undertaken to help support, repair or improve the community, its institutions, infrastructures, or people. Examples include clean-up days, disaster relief, or helping-your-neighbor efforts, among others

Social Media Management Platform

An online service that captures and displays the feeds from social media platforms and makes it easy to post across multiple platforms, schedule posts, on different platforms, help see social media statistics. Free and freemium examples include Hootsuite, buffer, tweetdeck, socialoomph, and followerwonk.

AIDA (attention, interest, desire, and action) formula

Attention: Get their attention with a catchy headline. Something clever or a play on words may do the trick. It needs to be short—no longer than 10 words and preferably less. Sometimes a subtitle may be used, especially if the attention-getting title may not give enough information. Interest: While the title should start to pique their interest, the opening paragraph should really capture them. This first paragraph should include the who, what, when, where, why, and how of the story. If you are really good, you can get all that in the opening sentence. The idea is to "hook" them and get them to read further. Desire: Now provide the meat of the press release—details that tell us more about the opening information and increase our interest. Depending on what your press release is about, this could include features of your new products, or some biographical information on the new person you hired. Start with the most important information in the story because editors frequently de

Traditional sales funnel(get funnel)

Awareness: process of getting your message out as much as you can to the target market or intended people Interest: process of prospective customers taking some action to learn more about the product through website catalog or store. Consideration: process of getting into the prospective customers final list of brands they are considering of purchasing and doing what you can to tip their decision towards your business (samples or test drives) Purchase: end of initial promo funnel person buys product and becomes a customer of firm.

cognitive dissonance

Doubt that occurs after a purchase has been made. An inconsistency between experience and belief

virtuous cycle

Situations where one good turn invites a another one from someone else are called virtuous cycles

Viral Marketing

Electronic equivalent word of mouth advertising (advertisers spread message quickly and widely through email, websites, blogs, other tools)

Shared media

Generally called word of mouth or referral advertising. These are promotional mentions of your brand firmer, product or services or use your experiences with them made by customers and others, and posted or shared through their social media sites.

Paid media

Generally referred to as bought or paid advertising, paid media, our promotions, where your firm paid another for the placement and distribution of the material

Earned media

Generally, what has been called publicity or press or public relations these refer to do it yourself and paid efforts to get the message of your brand, business product or service out to the general public or the mass media (TV radio print) in hopes it gets repeated buy them

Referrals

Getting customers to refer their friends to you

Hit rate

How many prospects or leads you need in order to make one sale also called conversion rate

Promotional Mix

How much of each message conveyance you will use to sell your product as well as your objective in using each one

Succinct message

Key point in as few, and as memorable words as possible

key performance indicators (KPIs)

Measures or metrics that identify the outcomes that are most important to the success of a business. While outcomes like sales or products produced are KPIs, events leading up to these are also usually considered key, like customers coming to your store or website for sales, or number of products started.

free ink

Mentions of your company or products in the media for which your firm did not pay

Donations

Monetary or other gifts to organizations or people who are in need

Business directory sites

Online services that provide equivalent of the old telephone directory, listing businesses, websites, phone numbers, and other info for prospective customers.

User review sites

Online sites where customers

Incentive media

Overlap of paid and owned. Media reflects the partnerships where you are paying for connections, useful to your business. This includes affiliate, marketing, brand ambassador's, native advertising, and sponsored content.

affiliate marketing

Partnerships between firms where a firm (often a content creator) mentions the product or service of another firm. That mention includes a link to purchase the product or service, and each time the link is clicked and produces the agreed-upon outcome (seeing the website, having a cookie placed, leaving their email, requesting information, buying the product) the content creator gets paid by the other firm

Sponsorships

Paying for a local organization's needs in exchange for recognition

organic traffic

People who come to your website based on their own actions (e.g., typing in your URL, clicking on a link mentioning your site on a web page, or clicking on a search engine finding based on where your site naturally—or "organically"—appears in the search results) where you have not paid for the link. It is also called unpaid search

Sales lead

People who receive a promo impression and give some thought of buying the product

Up-selling

Selling additional accessories or higher quality versions of the product at a higher cost

Word-Of-Mouth

Spreading info about business through comments friends and customers make to potential customers.

customer retention (CR)

Techniques that focus on efforts to promote satisfaction with and interest in the firm

keywords and description tags

Terms included in the hidden portion of a web page (called the document head) that are used by search engines such as Yahoo! and Google to describe your website and evaluate its focus and category placement

Brand promise

The gains provided(benefits) for the help given(pains removed) by the product or service here from offers

business profile kit

The name for the media kit you create for your own business (to distinguish it in your mind from the media kits of other organizations).

Brand

The name of firm puts on itself and its products to differentiate them from competitors offerings

personal selling

The process of selling your products and services; includes prospect and evaluate, prepare, present, close, and follow up

Owned media

These are promotional materials directly and wholly owned by your company like your name, your websites, your signage, and

Social media embassies

These combine elements of owned and shared media that represent the social media platforms on which your brand business products or services have a formal presence (like a company page). The page belongs to you, but also, it exists in media platform that you don't own or control.

Media partnerships

These occur at the overlap of shared and earned media and represent the arrangements by your brand company, product or service with outside individuals or organizations to promote your brand to the public or their own social media public basis these partnerships include influencer, marketing, a.k.a., Brand ambassadors, trade and professional organizational memberships, local organization memberships, sponsorships, co-branding, Co- advertising donations, and community service.

Unbundle

To break apart a product or service into components

newsworthy events

To garner serious attention from the media and the public, a news story needs to deliver certain essentials that will hold their attention and keep your news in their thoughts. It should have public recognition, importance, and interest

Cross-selling

To sell related products

Co-Marketing

Type of media partnership where 2 products jointly pay to advertise together (usually when products are used together like chips and salsa)

advertorial

Typically a paid advertisement from a company written in the form of an editorial, making the company's point about an issue, and published in the mass media.

native advertising

forms of ads inserted into the regular flow of noncommercial web pages so that it appears to be "native" to the page. The FTC regulates that native advertising carry an identifier (such as "Sponsored" in front of the item) to show it is an ad and not a statement by the page's content creator

sponsored content

material you develop or have developed to present to customers information about your company, brand, products, or services. Links to this material are placed on other people or brand websites or social media feeds, in hopes potential customers will click on the links and learn more about your offering

product expansion

A strategy whose goal is growth, based on selling existing customers a product or service they have never bought before

market penetration

A strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base

customer relationship management (CRM)

The process of tracking the customer's different contacts with the firm, and using these data to help improve sales as well as the customer's experience

Marketing funnel

Rule of thumb in mkt that takes large number of people to be made aware of your product in order to find a purchaser

Prospects

Sales leads who actually make some effort to learn more about the product or service or business in anticipation of a possible purchase

Media integration

The overlap of paid and earned media is based on generating leads through three paid types of efforts: advertorials(editorials written by a company as a type of ad), lead generation purchases(mailing or subscription list), contests, or sweepstakes

Public relations

The practice of deliberately managing the release and spread of information between an individual or an organization and the public.

lead generation

The promotional technique of obtaining prospective customers through paid and unpaid efforts to obtain contact information from people with the plan to send these prospects advertisements or other messages in hopes of getting them to become customers.

techniques

Trial close ("Which credit card would you like to use to pay for that?") Assumptive close ("I'll just need your credit card for payment.") Urgency close ("This rate will end at the end of the day.") Alternate choice close ("Would you prefer the standard or deluxe model?") Chances-are close (Customer asks to think about it and you say, "What are the chances you will buy later?") Make-a-suggestion close (Offer a waffling customer suggestions on why it is a good idea to buy.) Try-before-you-buy close (Offer a trial period, if your business can handle that.) What-will-it-take close (Ask "What will it take to close this deal?")

Co-Branding

When 2 companies or brands combine to create a new product or service that combines both brands (nike and leBron sneakers)

Influencer

customer role describing a person or group who can make credible or recognize suggestions or recommendations to others regarding purchase choices