MKTG Final Promo

Communication Model

The process whereby meaning is transferred from a source to a reciever.

Parts of the Communication Model (ESMMRDNF)

EncodingSourceMessageMediumReceiveDecodingNoiseFeedback

Encoding

The process of translating an idea into a form of communication that will convey meaning.

Source

An organization or individual that sends a message.

Message

The communication in physical form. Goes from a sender to a receiver.

Medium

A communication vehicle through which a message is transmitted to a target audience.

Recieve

Who or what intercepts and interprets the message.

Decoding

Process by which a receiver assigns meaning to the message.

Noise

Anything that interferes with effective communication.

Feedback

Receivers reaction to the message.

Promotion Mix (5 elements)

The major elements of marketer-controlled communication.-Advertising-Public relations-Personal selling-Sales promotion (contests, coupons, incentives)-Direct marketing

Integrated Marketing Communication (IMC)

A strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences.Goal of IMC is to build relationships with customers.

Promotion

Coordination of a marketer's communication efforts to influence attitudes or behavior.

Control Continuum

Amount of control a marketer has over the message.

Word of Mouth (WOM)

When consumers provide information about products to other consumers.

Buzz Marketing

Using high-profile entertainment or news to get people to talk about your brand.work with new products, no financial pay.

Guerrilla Marketing

Marketing activity in which a firm 'ambushes' consumers with promotional content in places they are not expecting to encounter this kind of activity.

Consumer-generated media (CGM)

On-line consumer generated comments, opinions, and product related stories available to other consumers through digital technology.

Database Marketing

The creation of an ongoing relationship with a set of customers who have an identifiable interest in a good or service.

Hierarchy of Effects

A series of steps prospective customers move through, from initial awareness of a product to brand loyalty.

Competitive-parity method

A promotion budgeting method in which an organization matches whatever competitors are spending.

Bottom-up budgeting techniques

Allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish them.

Top-down budgeting techniques

Allocation of the promotion budget based on management's determination of the total amount to be devoted to marketing communication.

Push Strategy

The company tries to move its products through the channel by convincing channel members to offer them.

Pull Strategy

The company tries to move its products through the channel by building desire for the products among consumers. This convinces retailers to respond to this demand by stocking these items.

AIDA Model

The communication goals of attention, interest, desire, and action.

Experimental Marketing

Marketing activities that attempt to give customers an opportunity to actually interact with brands. Causes them to make for intelligent and informed purchase decisions.