Marketing the Core: Chapter 14

promotional mix
the combination of one or more of the communication tools used to inform, persuade, or remind prospective buyers
integrated marketing communications
the concept of designing marketing communication programs that coordinate all promotional activities to provide a consistent message across all audiences
communication
the process of conveying a message to others; it requires six elements
six elements of communication
source, message, channel of communication, receiver, process of encoding and decoding
advertising
any paid form of nonpersonal communication about an organization, product, service or idea by an identified sponsor
feedback
the sender’s interpretation of the response and indicates whether the message was decoded and understood as intended
noise
includes extraneous factors that work against effective communication by distorting a message or the feedback received
response
the impact the message had on the receiver’s attitudes, knowledge, and behaviors
personal selling
the two way flow of communication between a buyer and seller, often in a face to face encounter, designed to influence a person’s purchase decision
wasted coverage
communication with consumers who are not the target audience
public relations
a form of communication management that seeks to influence the feeling, opinions, or beliefs held by customers about a company and its products or services
publicity
a nonpersonal, indirectly paid presentation of an organization, product or service
sales promotion
short term offer designed to arouse interest in buying a product or service
direct marketing
promotional element that uses direct communication with consumers to generate a response in the form of an order, request for further information, or a visit to retail outlet
four stages of product life cycle
introduction, growth, maturity, decline
introduction stage
informing costumers in an effort to increase level of awareness
growth stage
to persuade consumers to buy the product
maturity stage
maintain existing buyers
decline stage
period of phase out for a product and little money is spent on the promotional mix
push strategy
directing the promotional mix to channel members to encourage them to order and stock the product
pull strategy
directing the promotional mix at the ultimate consumer to encourage them to ask the retailer for the product
behavioral targeting
collecting information about your web browsing behavior to determine the banner and display ads that you will see when you surf the web
hierarchy of effects
the sequence of stages a prospective buyer goes through: awareness, interest, evaluation, trial, and adoption
direct orders
the result of direct marketing offers that contain all the information necessary for a potential buyer to make a decision to purchase and complete the transaction
lead generation
the result of direct marketing offer designed to generate interest in product and a request for additional information
traffic generation
the outcome of direct marketing offer designed to motivate people to visit a business