Ch. 12 Buzz Marketing

promotion
coordination of a marketer’s communication efforts to influence attitudes or behavior
integrated marketing communication (IMC)
business process that marketers use to plan, develop, execute, and evaluate brand communication programs
communication model
process meaning is transferred from a source to a receiver
encoding
process of translating an idea into form of communication that conveys meaning
source
an organization or individual that sends a message
message
communication in physical form that goes from a sender to a receiver
medium
communication vehicle through which a message is transmitted to a target audience
receiver
organization or individual that intercepts and interprets the message
decoding
process by which a receiver assigns meaning to the message
noise
anything that interferes with communication
feedback
response to the message
promotion mix
major elements of marketer communication including advertising, sales, public relations, etc
word of mouth (WOM)
consumers provide info about products to other customers
buzz marketing
high profile entertainment or new to get people to talk about your product
viral marketing
creating info or entertaining messages that are designed t be passed along in an exponential fashion
buzz
word of mouth that customers view as authentic
guerrilla marketing
firm ambushes consumers with promotional content in places unexpecting
experimental marketing
gives customers chance to interact with the product
database marketing
creation of an ongoing relationship with a set of customers who have an interest in a good and the data of their responses
hierarchy of effects
series of steps prospective customers move through from initial awareness of a product to brand loyalty
top-down budgeting techniques
allocation of budget for promotion based on management’s determining how much
percentage-of-sales method
promotion budget based on certain percentage of last year’s sales
competitive-parity method
promotion budget is to match what competitors are spending
bottom-up budgeting techniques
promotional department asks for a certain budget
push strategy
company tries to move its products through the channel by convincing channel members to sell them
pull strategy
build desire for the product