Advertising & Promotion Chapter 1

Exchange
A central concept in marketing and the use of the basic marketing activities to create and sustain relationships with customers.
Marketing
the activity, and process for communicating, delivering and exchanging offerings that have value for customers.
Value
The customers perception of all the benefits of a product or service.
Marketing Mix
Product, Price, Place and Promotion. to facilitate the potential for exchange with customers in the market place.
Integrated Marketing Communication
Involves coordinating the various promotional elements and other marketing activities that communicate with a firms customers.
Promotion
the coordination of all seller initiated efforts to set up channels of information and persuasion in order to sell goods and services or promote an idea
Promotional Mix
The basic tools used to accomplish an organizations communication objectives. Advertising, Publicity, Sales Promotion, Direct Marketing, Personal Selling.
Advertising
Any paid form of non personal communication about an organization, product, service or idea by an identified sponsor.
Direct Marketing
In which organizations communicate directly with target customers to generate a response and or a transaction.
Direct-response advertising
whereby a product is promoted through an ad that encourages the consumer to purchase directly from the manufacturer.
Interactive Media
allows for a two day flow of communication whereby users can participate in and modify the form and content of the information they receive in real time.
Social Media
the online means of communication and interactions among people that are used to share, create, and exchange content such as information, insights experiences, perspectives and even media themselves.
Sales Promotion
Marketing activities that provide extra value or incentives to the sales force.
Publicity
Refers to non-personal communications regarding an organization, product, service or idea not directly paid for or run under identified sponsorship.
Public Relations
The management function which evaluates public attitudes, identifies the policies and procedures of an individual or organization with the public interest.
Personal Setting
A form of person to person communication in which a seller attempts to assist or persuade buyers to buy the company products.
Contact(or touch ) point
Refers to each and every opportunity the customer has to see or hear about the company or its brand or have an encounter / experience with it.
Integrated marketing communication management
Involves the process of planning, executing, and controlling the use of the various promotional mix elements to effectively communicate with target audiences.
Integrated Marketing communication plan
Provides the framework for developing, implementing, and controlling the organizations IMC program.
Marketing Plan
A written document that describes the overall marketing strategy and programs developed for an organization.
Marketing Plan Basic Elements
1) Detailed Situation Analysis
2) Marketing Objectives
3) Marketing Strategy
4) Program Implementing the Marketing Strategies
5) Monitoring and evaluating performance process.
Internal Analysis
assesses relevant areas involving the product/service offering and the firm itself.
Marketing Objectives
Refer to what is to be accomplished by the overall marketing program.
External Analysis
Focuses on factors such as characteristics of the firms, customers, market segment and positioning strategies.
Communication Objectives
Refer to what the firm seeks to accomplish with its promotional program.