MKTG EXAM 3
Positive effects of Advertising
+ paid, non personal & mass media expensive but efficient
Negative effects of Advertising
- doesnt have accurate feedback feedback isnt accurate becuase of so many different factors only is up for a limited time
Radio and television signals as well as ink on the paper of a magazine or newspaper are all considered
Communication channels
_____________ identifies changes in public opinion affecting an organization.
Environmental monitoring
Steps in the ad campaign development process
Identify & analyze target audience Determine advertising objectives Create advertising platform Determine ad budget Develop media plan Creating the ad message
Which of the following statements is true about sales promotion?
It can increase sales by providing extra purchasing incentives.
If a firm's promotional budget were extremely limited, for which of the following reasons would it be more likely to rely on personal selling as its main promotional tool?
It is easier to measure a salesperson's effects on sales than advertising's effects on sales.
Four Ps of Promotion
Personal Selling Public Relations Sales Promotion Advertising
Four Ps of promotion
Price Place Promotion Product
native advertising
ads fit in so well you cant tell its an ad
Rick is a sales representative for Lucent Technologies. He has reviewed a prospect's account and credit history, identified product needs, and gathered the appropriate literature he needs. Rick feels he is ready for the ____ step of the personal selling process.
approach
6. closing the sale
ask them to buy & they buy
reinforcement ads
assures current users that theyve made the right choice
Make the presentation
attrach & hold attention
3. Create advertising platform
basic issues/ selling points to be included in ad campaign MUST be important to the customer
2. Determine advertising objectives
be clearly stated precise and measurable specify a target audience have a benchmark specify a time period
preapproach
before sale know what youre talking about and prepare presentation
positive effects of sales promotion
build brand awareness encourage trial loyalty
objective-and-task budget
built from the bottom up, make objectives, how much $ to get those objectives?
Tyler is a purchasing agent for Kellogg's. He is currently negotiating with his suppliers to receive a _______, which is a temporary price reduction to resellers for purchasing specified quantities of a product.
buying allowance
promotion : definition
communication built by building relationships by informing/persuading one or more audiences its a general term
public relations definition
communication efforts used to create and maintain favorable relations between an organization and its stateholders
competitive advertising
compares 2+ brands directly
6. Creating the ad message
consider product features, target audience, campaign objectives media type and regional issues must go with creative brief
Matt was in a group considered to be actual or potential purchasers of a new mountain bike produced by Specialized Sports. He and the other consumers were shown three different advertisements and asked to judge several dimensions of each one. Matt participated in a(n)
consumer jury
integrated marketing communications
coordination of marketing efforts to ensure maximum informational/persuasive impact ex: all sorts of media fit together like a puzzle
Public relations definition
create/maintain relationships between organization and stake holders
Primary demand
demand for a product category, NOT a specific brand
Secondary demand
demand for a specific brand
prospecting
develop list of potential clients
sales promotion definition
direct inducement to buy a product ex: coupon, part of a promotion
aspects of the POST TEST
evaluating ad effectiveness recognition unaided recall (remember the brand w no help) aided recall
Negative effects of Personal Selling
expensive time consuming
account planner
expert on ad company
approach
first impressions referral creative/professional vibes
A schedule in which advertisements run for set periods of time, alternating with periods in which no ads are run is known as
flighting
negative effects of sales promotion
fraud use coupons on products they buy any way stockouts
order getter
get new customers
creative brief
groundwork and rules of how advertising will be executed
7. followup
handwritten letter or something to show them that they have still made the right decision
technical
help customers apply products
missionary
help customers sell to their customers
trade
help retailers promote
Account planning/planner
laison between business and target audience
pulsing
low level of ad consistency with high spending on ad during peak seasons
Amanda is determining the media plan for her tax accounting business. She is currently selecting an advertising medium and is looking for a medium that is not expensive, allows for a short lead time, has large reach, and provides frequent communication. Based on these, Amanda should avoid
magazines
cooperative advertising
manufacturer helps pay retailers cost
Q score
measurement of familarity/appeal of a celebrity/entertainment product high Q score is good
5. Developing the media plan
media mix target audience
word of mouth
non paid, personal not considered one of promotion factors becuase its not controllable
flighting
only ad during the time ppl are going to buy
difference between earned media and owned media
owned - website, social media accounts unowned- publicity earned through promotional efforts; shares, likes, mentions
Positive effects of Personal selling
paid, personal communication big impact immediate results
Sara is concerned about the effectiveness of Magnum, Inc.'s promotional messages, and is seeking an approach with immediate feedback. Sara is most likely to achieve this through
personal selling.
At one time, Wheaties offered two free golf balls with the purchase of a twin pack of Wheaties cereal featuring Tiger Woods. This is an example of a
premium
what to do if u have negative publicity
prevent negaive incidents establish policies/procedures expedite coverage be forthright and open take quick action
advocacy advertising
promotes an organizations position on a public/social issue
institutional advertising
promotes brands image, not specific brand
Pull policies
promoting a product directly to consumers to make strong consumer demand that pulls products through the channel
push policies
promoting a product to the next institution down the marketing channel
To gain maximum benefit from promotional efforts, marketers must strive to
properly plan, implement, coordinate, and control communications.
Janetta tells her sales manager that she will be devoting more effort to ____ in the coming weeks, as her list of potential customers has dwindled below the level of 30 firms recommended by the selling plan.
prospecting
Steps in the personal selling process
prospecting preapproach approach make the presentation overcoming objections closing the sale followup
If during an advertising campaign a certain portion of advertising runs continuously, and then during specific periods additional advertising is used to intensify the level of communication, a(n) ____ media schedule is being used.
pulsing
reminder advertising
reminds of established brands
order takers
repeat customers
Mister Sub offers customers a card that allows them to have a free sub for every seven that have been purchased and provides various discounts throughout the year. The primary promotional objective of programs such as this is
retaining existing customers.
trade allowances
rewards/money/price reductions to encourage store to have product
what are the big sales mistakes
sales people doing things other than selling sales ppl chasing after small sales poorly coordinated efforts failure to use analytics territories out of balance
SEM SEO
search engine marketing search engine optimization
competition matching
similiar market, stable
guerilla/buzz
stimulate hype and publicity ex: flash mob
account manager
team leader, expert on the client
overcoming objections
think on your feet, know how to improvise
what is the COPY on the verbal part of the ad
verbal part of the ad
brand brief
what image a company wants for itself