Term
Most relevant customers: RFM formula |
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Definition
Those who: bought recently, buy frequently, and spend the most money |
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Term
Size of direct marketing in terms of media spending |
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Definition
20% of all advertising spending in 2005 |
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Term
How marketers obtain customer data |
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Definition
-Product registration -Purchasable consumer lists - Database: Corporate memory of all important consumer info Name, address, phone, email, purchase history Allows marketer to select most relevant customers and target them
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Term
Infomercials as direct response advertising |
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Definition
- Direct response advertising - 60% of infomercial purchasers prefer it to store shopping |
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Term
Drawbacks of direct marketing |
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Definition
- bad reputation (negative attitude) - lack of store experience - lack of prestigious affiliation - clutter - privacy issues (do not call lists) |
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Term
Personal selling: Pros and Cons |
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Definition
Pros: Cons: labor intensive costly time consuming poor reputation
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Term
Role of personal selling in IMC |
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Definition
-Gathering information: -Providing information - Fulfilling orders - Building relationships |
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Term
What is a sales promotion? |
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Definition
- Direct inducement that offers extra incentives - Aimed at accelerating product movement from producer to consumer - over 50% of advertising/promotion goes to sales promotion -expensive, but effectie -ex) clearance, sales, red-tag events |
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Term
Sales promotion: pros and cons |
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Definition
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Term
Incentives in pull strategy vs incentives in push strategy |
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Definition
-Incentives in pull strategy: consumers -Incentives in push strategy: retailers |
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Term
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Definition
- management of the relationships and communications with the public for the purpose of creating mutual good will |
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Term
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Definition
-a group of people whose needs must be satisfied by the organization |
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Term
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Definition
PR unpaid media no control no repetition high credibility hard to measure results
Advertising |
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Term
Tools that PR practitioners use |
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Definition
-news releases / press releases - press kits - photos and audio visual materials - publications |
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Term
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Definition
-cash or in-kind donation to support a property in return for access to commercial potential associated with that property - alternative when advertising is restricted -sponsorship is conditional |
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Term
Benefits and drawbacks of a sponsporship |
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Definition
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Term
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Definition
-nonsponsor advertises with a sports event and gives a false impression that it is a sponsor |
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Term
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Definition
- corporate partnership with a nonprofit organization or a charitable event (ex: RED) -public may or may not respond favorably to cause-related marketing (ex: buy-less-crap) |
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Term
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Definition
-donating a physical site to a school / city / etc Coors Field Minute Maid Park
- may purchase naming right |
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Term
purpose of corporate advertising |
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Definition
- aimed at increasing awareness of company and enhancing company image - may enhance: |
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Term
the role of a marketing plan |
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Definition
- the goal is to create exchanges that satisfy the needs, wants, and objectives of consumers - key is consumer-centricity |
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Term
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Definition
- what marketer wants to achieve -2 types: |
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Term
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Definition
-how to achieve objectives -defines target market -optimizes 4 p's: produce, price, place, promotion |
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Term
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Definition
what actions to take to achieve the objectives |
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Term
needs-satisfying objectives |
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Definition
-what kinds of needs and how to satisfy them |
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Term
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Definition
specific, quantitative goal within a certain time period |
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Term
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Definition
- fits most companies - good for new product launches - traditional marketing approach situation analysis ↓ marketing objectives ↓ marketing strategy ↓ marketing tactics |
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Term
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Definition
- suitable for small companies - day-to-day short them decisions - focus on a single, competitive tactic - ex) Domino's Pizza marketing results ↑ marketing strategy ↑ marketing tactics |
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Term
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Definition
- a company's relative promotional spending in the market - market "shouting" |
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Term
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Definition
- "liveblood of the business is the consumer, not the product" - creating, maintaining, and enhancing long-term relationships with customers and other stakeholders - sale is not the end but the beginning in relationship marketing |
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Term
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Definition
- employees - investors - retailers |
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Term
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Definition
company's sales total sales in that market |
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Term
IMC approach to marketing |
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Definition
- everything a marketer does sends a message - every contact between a consumer and a brand contributes to the consumer's brand concept - every single marketing activity has a communication element in it - communication is not part of marketing, marketing is a part of communcation |
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Term
sources of brand messages |
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Definition
- planned messages - product messages - service messages - unplanned messages |
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Term
requirements (or characteristics) of (advertising) objectives |
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Definition
- must be: specific realistic measureable
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Term
advertising objectives pyramid |
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Definition
[image] - action: buy product / brand - desire: want product / brand - conviction: believe product features and benefits exist - comprehension: know brand features and benefits - awareness: know brand exists |
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Term
target audience > target market |
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Definition
- everyone who should know about the brand - larger than target market - includes purchasers and people that may influence purchaser's decision |
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Term
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Definition
- TV - radio - newspapers - etc |
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Term
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Definition
- more specific than media type - certain category of a certain media type - ex) 'Desperate Housewives,' 'NY Times,' 'People,' Google, Facebook |
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Term
advertising-sales relationship |
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Definition
- sales can be made without advertising - advertising takes a long time - market share increase related to marketing budget increase - sales increase with additional advertising, but flattens at some point - sales response takes time - advertising durability is brief - some level of minimum investment is necessary |
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Term
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Definition
- how to direct advertising messages to the righty people in right place at right time |
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Term
why is the importance of a media planner increasingly recognized |
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Definition
- increasingly complex media environment - high demand for accountability - requires: analytical skills creative mind
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Term
increasing media options = fragmentation of audience |
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Definition
- consumers spending more time with media than ever before - increase in time spent with consumer-supported media than advertising-supported media - selective / partial consumption - simultaneous use of media - consumption of partial contents |
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Term
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Definition
- advertising costs increased faster than inflation - media vehicles with a big audience are sold at a premium - :30 second spot on "American Idol" costs $700K |
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Term
media objectives: audience objectives |
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Definition
- define specific types of people the advertiser wants to reach - sex, age, income, education, occupation, marital status, children, activities, etc |
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Term
media objectives: message distribution objectives |
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Definition
- message weight - message distribution - message continuity |
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Term
reach-frequency relationship |
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Definition
-reach: number of people or households exposed to a certain type of media at least once in a given period of time -frequency: average number of times individuals of householes are exposed to an ad -inverse relationship between reach and frequency |
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Term
continuity: continuous, flight, pulsing |
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Definition
- how to spread out media budget throughout a certain period of time - continuous: |||||||| - flighting: ||||___|||| - pulsing: ||||,,,,|||| |
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Term
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Definition
- "advertising needs to be there when a consumer is ready to buy" - to schedule ads when a consumer is likely to buy the product |
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Term
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Definition
- achieving objectives while minimizing the cost |
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Term
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Definition
achieving objectives whatever the cost |
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Term
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Definition
- cost per point - cost it takes to reach 1% gross rating |
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Term
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Definition
- cost per thousand - total cost # in audience x 1000 |
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Term
pros and cons of each media type (newspapers, magazines, t, radio, internet, direct mail, outdoor / transit) |
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Definition
- newspapers: quick placement, local targeting, audience interest, timely - magazines: high quality graphics / reproduction, prestige factor, color, selective target - tv: sound, movement, demonstration, social dominance - radio: intimacy, loyalty, quick changes, frequency, reproduced - internet: immediate response, interactive, selective, global - direct mail: measureable, 3-D, graphics, personal, adaptable - outdoor / transit: local targeting, graphics, color, simple message, reproduction possible |
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Term
people in the creative team |
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Definition
- they encode message marketer wants to convey - copy writer - art director - creative director - "creatives" |
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Term
what makes great advertising? |
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Definition
- audience resonance - a message that resonates with the audience - "WOW!" - strategic relevance - message achieves advertising objectives |
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Term
what is a creative brief? |
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Definition
- guidelines for developing an ad - brief statement of intended advertising strategy - developed by account planning team - determines what to say - leaves how to say it up to creatives |
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Term
imaginary roles the creatives take on during creative process |
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Definition
- explorer - artist - judge - warrior |
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Term
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Definition
- creativity is everywhere - creativity is important in all business and human functions - "is it remarkable?" - otaku - design rules now - dont be safe (safe = risky) - very good is boring |
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Term
key driving forces in development of direct marketing |
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Definition
- 60% of women work outside of home more income less time to shop
- expanding use of credit cards |
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Term
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Definition
- Strength (internal) - Weaknesses (internal) - Opportunities (external) - Threats (external) - 4 categories used by advertising managers when reviewing a marketing plan |
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Term
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Definition
- alternative advertising method - compensated inclusion of branded products or brand identifiers with mass media programming - Stephen Spielberg (ET & Reese's Pieces) - Why? Consumers are tuning out (do-not-call lists, pop-up and spam blockers) - offers new way to reach consumers |
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Term
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Definition
- Sam Shahid (Calvin Klein, A&F) - "Sex can be used for any product" - criteria: physically attractive models, suggestive behavior, setting and photographic techniques, verbal elements - prevalent in high circulation magazines, primetime tv, banner ads on high-traffic websites - AIDA: attention, interest, desire, action - "distraction effect": pay more attention to sex-content than brand/product info |
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