Kotler|Armstrong Principles of Marketing Chapter 14 Vocabulary

Promotion mix (marketing communications mix)
The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships.
Advertising
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
Sales promotion
Short-term incentives to encourage the purchase or sale of a product or services.
Personal selling
Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships.
Public relations (PR)
Building good relations with the company’s various publics by obtaining favorable publicity, building up a godd corporate image, and handling or heading off unfavorable rumors, stories, and events.
Direct marketing
Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.
Integrated marketing communications (IMC)
Carefully integrating and coordinating the company’s many communications channels to deliver a clear, sonsistent, and compelling message about the organization and its products.
Buyer-readiness stages
The stages consumers normally pass through on their way to a purchase, including awareness, knowledge, liking, preference, conviction, and, finally, the actual purchase.
Personal communication channels
Channels throgh which two or more people communicate directly with each other, including face to face, on the phone, via mail or e-mail, or even through texting or an Internet chat.
Word-of-mouth influence
Personal communications about a product between target buyers and neighbors, friends, family members, associates, and other consumers.
Buzz marketing
Cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.
Nonpersonal communication channels
Media that carry messages without personal contact or feedback, including major media, atmospheres, and events.
Affordable method
Setting the promotion budget at the level management thinks the company can afford.
Percentage-of-sales-method
Setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.
Competitive-parity method
Setting the promotion budget to match competitors’ outlays.
Objective-and-task method
Developing the promotion budget by (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and these tasks. The sum of these costs is the proposed promotion budget.
Push strategy
A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members, which in turn promote it to final consumers.
Pull strategy
A promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the products, creating a demand vacuum that “pulls” the product through the channel.