Marketing 3010: Exam 4
How do marketing communications managers state their media objectives? What does this entail?
- Frequency: measuring how often the target audience is exposed to a message within a specified period of time. - Reach: percentage of the target market that hears about the message at least once. - Gross Rating Points: Frequency × Reach
How do marketers measure the success of search engine marketing? What does each entail?
- Impressions: how many times an online ad appears in front of a user - Click through rate: an online measure of reach. The number of times a potential customer actually clicks on ad - Relevance: how useful is the ad message based on what is put in the search engine - Return on investment: Sales Revenue - Advertising Cost / Advertising Cost
What are the new communications realities? What does this mean in terms of shifting the communications model?
- More fragmentation because of technology - Information technology - Model shift •Less broadcasting = broad marketing •More narrowcasting = niche marketing
When measuring success, what is important when setting strategic goals?
- Outcome hoping to achieve - Short-term or long term - Defined & measured
What are types of methods used to plan a marketing communications budget? What do they entail?
- Rule of thumb methods: •Affordable method: the WORST; how much do we have to spend? •Issue: Not seen as an investment, it's seen as a cost •Percentage-of-sales method: for all of our products, a percentage is set and that becomes the budget •Issue: new products don't have a lot of sales •Competitive parity method: Do what the competition does. •Issue: making assumptions that the competition knows better than you do about how much should be spent. - Objective-and-task method: (1) Set your objectives (2) Which of the different tasks will best meet objectives (3) How expensive are those tools •Harder to do; take more time
What is entailed in identifying the target audience? What question is a marketer trying to answer in this step? Why is identifying the target audience important?
-Tone of the message -Target Market -Media Selection •Who is our target audience? •Important because the success of an advertising program depends on how well the advertiser can identify its target audience.
What are the steps when planning an ad campaign?
1. Identify target audience 2. Set advertising objectives 3. Determine the advertising budget 4. Convey the message 5. Evaluate and select media 6. Create advertisements 7. Assess impact
What is important for marketers to understand when it comes to how consumers perceive communications?
Each receiver decodes a message in his or her own way
What is the 4E Framework for social media and what is entailed in each objective?
Excitement, Education, Experience, Engagement Excite customers with relevant offers Educate them about the offering help them Experience products, whether directly or indirectly give them an opportunity to Engaga with their social network
IMC
Integrated Marketing Communications
reach
Measure of consumers' exposure to marketing communications; the percentage of the target population exposed to a specific marketing communication, such as an advertisement, at least once.
frequency
Measure of how often the audience is exposed to a communication within a specific period of time.
gross rating points= GRP
Measure used for various media advertising--print, radio, or telivision; GRP = reach x frequency.
Marketers connect social media and advertising by utilizing what strategies? What is entailed in each?
Retargeting - Product pops up again while browsing later Behaviorally targeting 90% of word-of-mouth happens offline
What metrics have marketers developed to assess individual brand equity in social media?
Social Reach - metric used to determine how many people a person influences Influence - extent to which the person influences others Extended Network - how many people are sharing your posts
Reciever
The person who reads, hears, or sees and processes the information contained in the message or advertisement.
What is the purpose of Integrated Marketing Communications?
To deliver clear, consistent, and compelling messages
AIDI Model
a common model of the series of mental stages through which consumers move as a result of marketing communications: awareness-> Interests-> Desire-> Action->
Lagged affect
a delayed response to a marketing communication campaign.
What is the lagged effect? Why is it important to understand?
a delayed response to a marketing communication campaign. The lagged effect is located between the DESIRE and ACTION mental stages.
point-of-purchase (POP) display
a merchandise display located at the point of purchase, such as the checkout counter in a grocery store
social reach
a metric used to determine to how many people a person influences (e.g., number of indivinduals in the person's social networks such as Facebook and LinkedIn)
advertising
a paid form of communication from an identifiable force delivered through a communication channel and designed to persuade the receiver to take some action now or in the future
What is advertising? Is word-of-mouth marketing a type of advertising?
a paid form of communication from an identifiable force delivered through a communication channel and designed to persuade the receiver to take some action now or in the future yes, word or mouth is a type of advertising
advertising
a paid form of communication from an identifiable source delivered through a communication channel and designed to persuade the receiver to take some action, now or in the future.
Top-of-Mind awareness
a prominent place in peoples, memories that triggers a response without them having to put any thought into it.
hits
a request for a file made by web browsers and search engines. Hits are commonly misinterpreted as a metric for websites success, however, the number of hits typically is much larger than the number of people visiting a website
advertising plan
a section of the firm's overall marketing plan that explicitly outlines the objectives of the advertising campaign, how the campaign might accomplish those objectives, and how the firm can determine weather teh campaign was successful
Unique selling proposition (USP)
a strategy of differentiating a product by communicating its unique attributes; often becomes teh common themee or slogan in the entire advertisign campaign
sentiment analysis
a technique that allows marketers to analyze data from social media sites to collect consumer comments about companies and their products
institutional advertisements
a type of advertisement that informs, persuades, or reminds consumers about issues related to places, politics, or an industry (e.g. Got Milk? ads)
search engine marketing = SEM
a type of web advertsing whereby companies pay for keywords that are used to catch consumers attention while brwsing a search engine.
lift
additional sales caused by advertising
public service advertising (PSA)
advertising that focuses on public welfare and generally is sponsored by nonprofit institutuins, civic groups, religious organizations, trade associations, or political group; a form of social marketing
emotional appeal
aims to satisfy consumers' emotional desires rather than their utilitarian needs
Feedback Loop
allows the receiver to communications with the sender and thereby informs the sender whether the message was received and decoded properly
object-and-task method
an IMC budgeting method that determines, the cost required to undertake specific tasks to accomplish communication objectives; process entails setting objectives
fighting
an advertising schedule implemented in spurts, with periods of heavy advertising followed by periods of no advertising
Transmitter
an agent or intermediary with which the sender works to develop the marketing communications; for example, a firms creative department or an advertising agency
keyword analysis
an evaluation of what keywords people use to search on the internet for their products and services
premium
an item offered for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing.
Noise
any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; a problem for all communication channels
pretesting
assessments performed before an ad campaign is implemented to ensure that the various elements are working in an integrated fashion and doing what they are intended to do.
What is the AIDA model and what does it suggest? What is entailed in each step of the mental stages?
awareness, Interest, Desire, Action ->Think->Feel->Do-> -A common model of the series of mental stages through which consumers move as a result of marketing communications; mental to actions •A-AWARENESS: attention of the consumer Top-of-mind awareness vs. Aided recall •Aided recall: means with a little bit of help, you remember it. Ex.) show you a logo •Top-of-mind awareness: knowing something off the top of your head. Ex.) Naming a hockey team off the top of your head. •I-INTERESTS: Want to do a little more research •D-DESIRE: Like the product of service and want it •A-ACTION: Buy the product or service
rule-of-thumb methods
budgeting methods that base the IMC budgeting on either the firm's share of the market in relation to competition, a fixed percentage of forecasted sales, or what is left after other operating costs and forecasted sales have been budgeted.
niche media
channels that are focused and generally used to reach narrow segments, often with unique demographics characterisitcs or interests
mass media
channels that are ideal for reaching large numbers of anonymous audience members; include national newspapers, magazines, radio, and television
pulsing
combines the continuous and fighting schedules by maintaining a bass level of advertising but increasing advertising intensly durign certain persiods
cause-related marketing
commercial activity in which business and charities for a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaign
reminder advertising
communication use to remind consumers of a product or to prompt repurchasees, especially for products that have gained market acceptence and are in the maturity stage of their life cycle
information advertising
communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase
persuasive advertising
communication used to motivate consumers to take action
pull strategy
designed to get consumers to pull the product into the supply chain by demaning it.
push strategy
designed to increase demand by motivating sellers--wholesalers, distributors, or salespeople--to highlight the product, rather than the products of competitors, and therby push th eproduct onto consumers
cross-promoting
efforts of two or more firms joining together to reach a specific target market
influence
in a social media context, the extent to which the person influences others (e.g., how much do the people in a person's network read that perons content)
extended network
in social media, it is the total number of people a person or entity reaches or has influence over
relevance
in the context of search engine marketing (SEM), it is a metric used to determine how useful an advertisement is to the consumer.
tracking
includes monitoring key indicators, such as daily or weekly sales volume, while the advertisement is running to shed light on any problems with the message or the media
product placemnet
inclusion of a product in nontraditional situations, such as in a scene in a movie or television program
IMC encompasses what channels/components? What is entailed in each of these? What are the advantages/disadvantages of each of these? Which tools are associated with each of these channels?
it encompasses a variety of communication disciplines - advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media - in combination to provide - Advertising •Paid & from an identifiable source •Persuasive •Why you would want to buy our product vs. someone else's •Most visible element of IMC •Generates awareness & interest (CIADI Model) •Impersonal *Tools: broadcast, print, internet, outdoor - Sales Promotion •Special incentives •Excitement-building programs •End user or channel members •Short-term *Tools: Discounts, coupons, POP displays, demonstrations, premiums, contests, sweepstakes, rebates, sampling, pop-up stores, cross-promoting, specialty advertising - Public Relations •"Free" media attention •Importance of PR has grown *Tools: new releases, annual reports, brochures, PSAs, press kits, event sponsorship. - Personal Selling •Two-way flow of communication •A person having a dialogue trying to get you to buy •Buyer & seller •Influence purchase decision *Venues: -Over the internet -Telephone -Face-to-face -Video teleconferencing - Direct Marketing •Easily personalizable •Growth of data •New technologies *Tools: Telephone, mail, catalogs, email, mobile marketing - Online Marketing •Content distributed through online & mobile technologies •Interpersonal interactions •Build connections •Share information •Clear call to action *Tools: websites, blogs, social media
mobile marketing
marketing through wireless handheld devices
Brand Awareness
measures how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (brand name, logo, symbol, character, packaging or slogan) in the firms communications to consumers
social media
media content used for social interactions such as YouTube, Facebook, and Twitter.
social media
media content used for social interactions such as youtube, facebook, and twitter
Aided Recall
occurs when consumers recognize a name (e.g., of a brand) that has been presented to them.
conversion rates
percentage of consumers who buy a product after viewing it
event sponsorship
popular PR tool; occurs when corporations support various activities (financially or otherwise), usually in teh cultural or sports and entertainment sectors.
How does IMC relate to the 4Ps?
represents the promotion dimension of the four P's
Integrated Marketing Communications = IMC
represents the promotion dimension of the four P's; encompasses a variety of communication disciplines-- general advertising, personal selling, sales promotion, public relations, direct marketing, and electronic media--in combination to provide clarity, consistency, and maximum communicative impact
continuous schedule
runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relativity steady rates and that require a steady level or persuasive or reminder advertising
direct marketing
sales and promotional techniques that deliever promotional maerials individually.
What and who is involved in the communications process? What does each entity entail?
sender-> transmitter encodes message->communications channel (media)-> reciever (consumer) decodes message -Sender: The firm from which an IMC message originates; the sender must be clearly identified to the intended audience. -Transmitter: An agent or intermediary with which the sender works to develop the marketing communications; for example, a firm's creative department or advertising agency. -Communications Channel: The medium—print, broadcast, the Internet—that carries the message. -Receiver: The person who reads, hears, or sees and processes the information contained in the message or advertisement.
click paths
shows how users proceed through the information on a website--not unlike how grocery stores try to track the way shoppers move through their aisles
sales promotions
special incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays
sales promotions
special incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays.
loyalty programs
specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time
Social Marketing
teh content distributed through online and mobile technologies to facilitate interpersonal interactions
media buy
the actual purchase of airtime or print pages
return of investment = ROI
the amount of profit divided by the value of the investment. in the case of an advertisment, the ROI is (the sales revenue generated by the as - the ad's cost) / the ad's cost
media mix
the combination of the media used and the frequency of advertising in each medium
posttesting
the evaluation of an IMC campaign's impact after it has been implemented
Sender
the firm form which an IMC message originates; the sender must be clearly identified to the intended audience
click through rate = CTR
the hnumber of times a user clicks on an online ad divided by the number of impressions.
puffery
the legal exaggeration of praise, stoppign just short of deception, lavished on a product
Communication Channel
the medium--print, broadcast, the internet--that carries the message.
impressions
the number of times an advertisement appears in front of the user
page views
the number of times an internet page gets viewed by any visitor
public relations (PR)
the organizational function that manages the firm's communications to achieve a variety of objectives including building and maintaining a positive image, handling or heading off unfavorable stories or events and maintaing positive relationships with the media
public relations
the organizational function that manages the firm's communications to achieve a variety of objectives, including building and maintining a positive image, handeling or heading off unfavorale stories or events, and maintaining positive relationships with the media.
bounce rate
the percentage of times a visitor leaves the website almost immediately, such as after viewing only one page
Decoding
the process by the receiver interprets the senders message
gamification
the process of building customer loyalty through the offering of free apps
Encoding
the process of converting the senders ideas into a message, which could be verbal, visual, or both.
media planning
the process of evaluating and selecting the media mix that will deliver a clear, consistent, compleing message to teh intended audience
advertising schedule
the spcification of teh timeing and duration of advertisign
personal selling
the two-way flow of communication between a buyer and a seller that is designed to influence the buyers purchase descision.
informational appeals
used in a promotion to help consumers make purchase decisions by offering factual information and strong arguments built around relevant issuses that encourage them to evaluate the brand favorably on the basis of the key benifits it provides
product-focused advertisements
used to inform, persuade and remind consumers about a specific product or service