BUS331 Exam 2
Terms
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- IMC
- corrdinated communications that deliver a clear consistent coherent compelling brand message
- Marketing Communication Tools
- sample coupons price packs premiums specialties point of purchase loyalty programs contests
- Personal Selling
- paid, interpersonal, personalized
- Public Relations
- earned relationship with the public
- PR Tools
- spokesperson news releases press conferences annual report events
- MC mix strategy
- push pull
- Pull strategy
- consumer sales, promotion, advertising
- Push Strategy
- personal sales and trade promotions
- Sales promotion
- short term sales promotion
- Stages of the personal selling process
- prospecting and qualifying preapproach approach presentation handling objections closing follow up
- Indirect Marketing channel
- at least one intermediary
- Functions of marketing intermediaries
- helps spread risk take large quantity of limited variety of products into limited quantities of wide variety products
- Retail Classification
- service product assortment price organization
- Types of Wholesalers
- merchant agent/broker
- Vertical marketing systems
- corporate-all owned by same people contractual-franchises administered-1 entity has all of the power
- advertising
- paid non personal communication credible, many people at one time, status symbol>very expensive
- Developing IMC Campaign
- campaign objectives budget strategy evaluate
- Campaign Objectives
- informational emotional behavioral
- budget
- common- % of sales budget> promo drives sales affordable- whatever is left over>sales drive promo share of voice- spend what competitor spends objective task- meet objective
- develop strategy
- message- highlight what makes you stand out, tone, execution, style media- reach, frequency, impact
- Direct Marketing
- tailored, not interpersonal communication
- Conventional Marketing System
- -Manufacturer> wholesaler> Retailer> Consumer
- Direct market channel
- selling directly to the consumer
- Distribution strategies
- intensive exclusive selective
- Hybrid Marketing System
- combination of indirect and direct marketing systems