Marketing Chapter 15 Marketing Communication

Promotion
Communication by marketers that informs, persuades, reminds, and connects potential buyers to a product for the purpose of influencing an opinion or eliciting a response
Promotional strategy
A plan for the use of the elements of promotion: advertising, public relations, personal selling, sales promotion, direct-response communication, and social media
competitive advantage
the set of unique features of a company and its products that are perceived by the target market as superior to the competition
Communication
the process by which we exchange or share meanings through a common set of symbols
Interpersonal communication
Direct, face to face communication between two or more people
Mass communication
Communication of a concept to a large audience.
the communication process
sender –> encoding –> message transmission –> decoding –> receiver
Sender
The originator of the message in the communication process.
Encoding
The conversion of the senders ideas and thoughts into a message, usually in the form of words or signs.
Channel
A medium of communication such as voice, radio, or newspaper used for transmitting a message
Noise
Anything that inferences with, distorts, or slows dowm the transmission of information
Receivers
The people who decode a message
Decoding
Interpretation of the language and symbols sent by the source through a channel
Feedback
The receivers response to a message
Goals of promotion
informing, persuading, reminding, connecting
Informing (informative promotion)
Seeks to convert an existing need into a want or to stimulate interest in a new product.
Persuading (persuasive promotion)
Designed to stimulate a purchase of an action.
Reminding
Used to keep the product and brand name in the publics mind,
Promotional mix
The combination of promotional tools including advertising, publicity, sales promotion, personal selling, direct-response communication, and social media used to reach the target market and fulfill the organizations overall goals
Advertising
impersonal, one way mass communication about a product or an organization that is paid for by a marketer. Traditional media such as television, radio, newspapers, magazines, billboards, online banner advertising, etc are among the most commonly used mediums.
Publicity
public information about a company, a product, a service, or an issue appearing in the mass media as a news item. Not paid for by marketers. Use to maintain a positive image and educate the public about their goals and objectives, new products, etc.
Public relations
the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance.
Sales promotion
marketing activities other than personal selling, advertising, direct response marketing, and public relations that stimulate consumer buying and dealer effectiveness. Include free samples, contests, sweepstakes, coupons, premiums.
Personal selling
A purchase situation involving a personal, paid for communication between two people in an attempt to influence each other. Both the buyer and seller have objectives to accomplish.
Direct response communication
Communication of a message directly form a marketing company and directly to an intended individual target audience. Uses a variety of media to deliver a personalized message (TV and radio, newspapers and magazines, telephone, internet, email and websites, mail).
Online marketing
two way communication of a message delivered through the internet to a consumer.
Social media
A collection of online communication tools that facilitate conversations online
consumer generated content
Any form of publically available online content created by consumers
paid media
A category of promotional tactic based on the traditional advertising model whereby a brand pays for advertising space.
Earned media
A category of promotional tactic based on a public relations model that gets customers talking about products or services. For example search engine optimization, where companies embed key words into content to increase their positioning on search results.
Owned media
A category of promotional tactic based on brands becoming publishers of their own content to maximize the brands value to consumers. Includes a company’s website, facebook, twitter, youtube channels, blogs, etc.
AIDA concept
A model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message: attention, interest, desire, and action.
Factors that affect the promotional mix
Nature of the product, stage in the product life cycle, target market characteristics, type of buying decision, available funds, push and pull strategies
Push strategy
A marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or retailer to carry and sell a particular merchandise. (starts with manufacturer –> wholesaler to retailer –> retailer to consumer –> consumer buys from retailer)
Pull strategy
A marketing strategy that stimulates consumer demand to obtain product distribution. Manufacturer focuses promotional efforts on end consumers and as consumer start demanding the product, the retailer orders from the wholesaler.
Integrated marketing communications
the careful coordination of all promotional messages for a product or service to ensure the consistency of messages at every contact point where a company meets the consumer.