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Princ. of Marketing
Kotler, Armstrong, Principles of Marketing 11th ed, Ch 14 vocab
| Question | Answer |
|---|---|
| Marketing communications mix (promotion mix) | The specific mix of advertising, personal selling, sales promotion, and public relations a company uses |
| 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 service |
| Public relations | Building good relations with the company’s various publics by obtaining favorable publicity, building up a good “corporate image,” and handling or heading off unfavorable rumors, stories, and events |
| Personal selling | Personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships |
| Direct marketing | Direct communications with carefully targeted individual consumers—the use of telephone, mail, fax, email, the internet, and other tools to communicate directly with specific consumers |
| Integrated marketing communications (IMC) | The concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products |
| Buyer-readiness stages | The stages consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction, and purchase |
| Personal communication channels | Channels through which two or more people communicate directly with each other, including face to face, person to audience, over the telephone, or through the mail |
| Word-of-mouth communication | Personal communication about a product between target buyers and neighbors, friends, family members, and associates |
| Buzz marketing | Cultivating opinion leaders and getting them to spread information about a product or 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 objectives, 2) determining the tasks that must be performed to achieve these objectives, and 3) estimating the costs of performing these tasks |
| 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 wholesalers, the wholesalers promote to retailers, and the retailers promote to consumers |
| Pull strategy | A promotion strategy that spends a lot on advertising and promotion to build up consumer demand. If successful, consumers will ask their retailers for the product, the retailers will ask the wholesalers, and the wholesalers will ask the producers. |
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