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elements of marketing
Pricing, Distribution, Promotion, Conception
Marketing Key Concepts
Utility, Exchanges, Perception, Satisfaction
Cycle of Marketing Process Participants
Customers to Markets to Marketers
Market Types
Consumer, Business, Government
Types of Government Market Types
Local, Regional, Transnational or Global
Theories of Learning
Cognitive and Conditioning
type of learning that involves memory, thinking, and problem solving, relevant to complex purchases and learning from other people
theory of learning involving trial & error, relevant to simple, everyday purchases
consumer behavior: results of learning
Attitude to Interest to Habit to Loyalty
underlying forces driving decisions
basic and often instinctive motivation
motivations learned during lifetime
Maslow\'s Hierarchy of Needs
Physiological, Safety, Social, Esteem, Self-Actualization
motive involving problem removal or avoidance
motive involving benefit, bonus, or reward
interpersonal influences
family, culture, society (reference groups and opinion leaders)
nonpersonal influences
time, point of sale, environment
market segmentation process
1.) Identify people with shared needs and characteristics 2.) Aggregate these groups into market segments according to their mutual interest in the product\'s utility
4 P\'s of the Marketing Mix
Product (Concept)-Promotion-Price-Place (Where it is distributed geographically)
market segmentations
behavioristic, geographic, psychographics, demographics
Order of product life cycle
Inroduction, Growth, Maturity, Decline
price factors
demand, corporate goals and strategies, production & distribution, competition
distribution to network or buyer club
distribution to exclusive, selective, or intensive
distribution to franchises
Marketing Communication Types
collateral materials, personal selling, public relations, sales promotion, product advertising
functions of marketing research
consumer needs & market segments, product development, assess effectiveness, financial planning, quality control
Marketing Research Purposes
recruit new customers, retain current customers, regain lost customers
Steps in the Research Process
1.) Analyze situation 2.) Conduct informal, explanatory research 3.) Establish research objectives 4.) Conduct Formal Research 5.) Interpret and Report Findings
quantitative methods
experiment, observation, surveys
top-down marketing plan
Situation Analysis, Marketing Objectives, Marketing Strategies, Marketing Tactics; Used in larger corporations
Bottom-up marketing plan
marketing tactics, marketing strategy, marketing results; used for small business- \"Survival Mode\"
keys to building brand equity
customers, not product are focus; know that customers have choices; market relationships, not transactions
importance of relationships
cost of lost customers; cost of acquring new customers; value of loyal customers
levels of relationships
transactional, reactive, accountable, proactive, partnership
levels of intergration
unified image, consistent voice, good listener, world-class citizen
sources of brand messages
planned (controlled messages), unplanned (customer reviews), product, service
integration triangle
say (planned messages), do (product & service messages), confirm (unplanned messages)
Elements of SWOT analysis
Strengths, Weaknesses, Opportunities, Threats
Tradiontional Advertising Pyramid
Awareness, Comprehension, Conviction, Desire, and Action
Elements of the Creative Mix
Target Audience, Product Concept, Communications Media, Advertising Message
methods of allocating funds
sales percentage, market share, objective/task, empirical research
decisions and issues of media planning
which media, where, what time of year, how often, how to integrate
challenges of increasing media options
more competitors, rising costs, media complexity, greater audience fragmentation, more media options
media planning activities
situation anaylsis, marketing plan, advertising plan
advertising plan
set media objectives, determine media strategy, select media classes, select media within clases
media use decisions
print, broadcast, other
message-distribution objectives
audience size, message weight, audience accumulation & reach, exposure frequency, continuity
number one medium of US ad spending
direct mail
the number of people in the medium\'s audience
audience size
total size of the audience for a set of ads or entire campaign
message weight
GRP formula
reach x average frequency
how many times an ad is played, repetition
duration of an ad campaign needed to create/ sustain memory
brand development index, indicates the sales potential of a particular brand in a specific market
category development index, indicates the potential of an entire category
BDI formula
(percent of brands total US sales in the area) divided by (percent of total US pop in the area) x 100
CDI formula
(percent of the product category\'s total US sales in the area) divided by (percent of total US pop in the area) x 100
direct marketing is communication that...
generates direct orders, promopts information requests, generates store or business traffic, builds and maintains customer database
types of direct reponse ads
catalog, print, broadcast, interactive, direct mail
2 Types of Direct Marketing
Personal Selling and Telemarketing
Advantages of Personal Selling
most persuasive, best way to establish a relationship, interactive
Disadvantages of Personal Selling
labor intensive, expensive, bad reputation, easy to ruin relationships
advantages of telemarketing
cost, customer acceptance, interactive
communication functions of sales representatives
gathering info for company, providing information to customers, fulfilling customer orders, building client relationships
Push strategy
producer to resellers to end users
Pull strategy
producer to end user to resellers back to producers
role of public relations
1.) Develop goodwill 2.) Affect public opinion 3.) Improve reputation
PR Tools
News releases, press kits, photos, feature articles, printed materials, posters & exhibits, mutlimedia
cash or in-kind payment for a commercial opportunity
support of a cause without commercial incentive
types of sponsorship
sports, arts, entertainment, cause, fairs/fesivals/annual events
goals of corporate communications
1.) Improve public relations 2.) establish corporate identity 3.) recruit new employees
elements of the creative team
copywriter, art director, creative director
elements of audience resonance
Informal, Transformational
Elements of strategic relevance
audience needs and wants, client goals
four elements of advertising strategy
target audience, product concept, communications media, advertising message
integrated marketing communications
relationship marketing, consitency, interaction throughout
in what form do advertising messages come?
narrative, dramatic, commericial, autobiography
types of local advertisers
franchises and dealers, stores with branded merchandise, specialty businesses, government and non-profit
types of local advertising
product advertising, institutional advertising, classified advertising
identify products and their sources and differentiate them from other products
types of scheduling methods
continuous, flighting, pulsing
individuals reading an ad look at the _____ first
three components of message strategy
verbal, nonverbal, technical
ways to measure sponsorship results
pre-post sponsorship surveys, measure spending equivalencies, tracking devices
5 standard subjects for ad visuals
humor, testimonial, negative appeal, product in use, product alone

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