MKTG 384 IMC Test 1 - Study Guide. PDF

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QUIZLET: https://quizlet.com/433279856/marketing-384-exam-1-flash-cards/ Chapter 1: ● ● ● ●

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Marketing involves *Exchange (something of value to one another, desire and ability to give up something to the other AND a way to communicate with each other) Value → Customer’s perceptions of benefits of a product Marketing Mix (product, price, place and **promotion) ○ Promotion is the primary focus of an IMC Plan Importance of IMC program projecting a consistent and unified image to customers ○ Recognize that there’s added value to an IMC plan ○ Helps develop and sustain brand identity and brand equity ○ **Sustainability** (practices done today that won’t negatively impact the future) Elements of the Promotional Mix (Understand costs & benefits associated with each) ○ Advertising, Direct marketing, Digital/Internet marketing, Sales promotion, PR, Personal selling ○ Slight differences if B2B OR B2C IMC involves audience contacts or touch points (some are customer-initiated whereas others are company-created) Paid V Owned V Earned MEDIA Primary (stimulates demand for general product class or entire industry) & Selective (creates demand for a specific company’s brands) Demand Planning an IMC Process ○ Marketing Plan ○ Analysis of Promotional Program Situation (internal and external) ○ Analysis of Communication Process (marketing v communication objectives) ○ Budget Determination ○ Develop IMC Program ○ Integrate and Implement everything

Chapter 2: Role of IMC in the Marketing Process ● Strategic Marketing Plan is based on a situational analysis and guides allocation of organization’s resources ○ Allows for understanding of market opportunities, competition (ie competitive or SWOT analysis) and market segments ● Target Marketing Process ○ Identify markets w/ unfulfilled needs ○ Determine market segmentation (geographic, demographic, socioeconomic, psychographic or divided by customer buying situations) ■ Behavioristic segmentation (**80-20 rule**) ○ Select a target market ○ Position through marketing strategies ■ Positioning - Fitting product/service to one or more segments of the broad market to make it unique w/i the marketplace

Salient attributes → important to consumers and the basis for making a purchase decision ■ Positioning by price/quality (usually done for luxury items where cost isn’t the primary concern) ■ Positioning by use/application ■ Positioning by product class (position against a product) ■ Positioning by product user (like extreme segmentation) ■ Positioning by competitor ■ Positioning by cultural symbols ■ Repositioning (difficulties involved w/ it) Factors that determine PRICE ■ Costs, demand factors, competition, perceived value, product quality & advertising Direct v Indirect marketing channels Promotional Push (directed to promote a manufacturer’s products) V Promotional Pull (directed toward ultimate customer) strategies ■

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Chapter 3: Organizing for Advertising and Promotion 5 Major Groups 1. Advertiser (Client) 2. Ad Agency a. Agency consolidation through **superagencies b. Full-service agencies c. Account services/Account management i. Account executive - Understands the advertiser’s marketing and promotional needs and interprets them to agency personnel d. Marketing services i. Research dept, account planners and media department e. Creative services i. Copywriters ii. Art department iii. Traffic department: coordinates all phases of production f. Organization and structure i. Departmental (more traditional) V Group system (grouping of people from different departments; 300 Plan) g. Creative Boutiques 3. Media Organizations 4. Marketing Communication Specialist Organizations (think more of those in charge of purchasing air time, etc.) a. Direct-marketing agencies b. Sales promotion agencies c. Digital/interactive agencies d. PR firms

5. Collateral Services a. Support functions used by advertisers, agencies, media organizations and specialized marketing communication firms Agency compensation methods ● Commissions from media ● Fee, cost and incentive-based systems ● Percentage charges *Gaining and Losing Clients* Chapter 4: Perspectives on Consumer Behavior ● Searching and selecting ● Purchasing and using ● Evaluating ● Disposing Basic Model of Consumer Decision Making 1. Problem recognition a. Need recognition (diff. Btw ideal and actual state) b. Out of stock, dissatisfaction, new needs/wants, related products/purchases and market-induced recognition → SOURCES 2. Information search a. Internal (followed by the) External search 3. Alternative evaluation a. Evoked set - Subset of all the brands of which the consumer is aware b. Evaluative criteria: Objective & Subjective c. Functional and psychosocial consequences 4. Purchase decision a. Purchase intention (predisposition to buy a certain brand by matching purchase motives with attributes of brands considered) b. Brand loyalty 5. Post Purchase evaluation a. Cognitive dissonance Chapter 5: The Communication Process Model 1. Source/Sender 2. Encoding 3. Channel Message 4. Decoding 5. Receiver **Cyclical action where **NOISE** affects all parts of the process**

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Personal and Nonpersonal Channels ○ Viral marketing ● Field of experience → experiences, perceptions, attitudes and values a person brings to the communication situation ● Response/Feedback Levels of Audience Aggregation → the different levels lead to different communication techniques and how they should be approached (from top to bottom of pyramid) ● Individual and group audiences ● Niche markets ● Market segments ● Mass markets and audiences **Different response models** (SHOULD BE ON QUIZLET) Chapter 6: Source, Message and Channel Factors ● Persuasion Matrix ○ Helps marketers see how each controllable element interacts w/ the consumer’s response process ○ Independent Variables: Source, message, channel, receiver, destination ○ Dependent Variables: Message presentation, attention, comprehension, yielding, retention and behavior ○ Pairings: (2)Channel & Message Presentation (determining channel to communicate will lead to how the message is presented), (1)Receiver & Comprehension (determining who you’re marketing to will influence how they perceive the message), (3)Message & Yielding (what you’re saying/the message will determine if they yield/receive anything out of it), (4)Source & Attention (Who or how you’re communicating the message will impact whether people pay attention or not) ● Source Attribute Paired w/ Process ○ Credibility (expertise, trustworthiness)→ Internalization (adopting opinion of a credible communicator) ○ Attractiveness (similarity, familiarity and likeability)→ Identification (receiver is motivated to seek some type of relationship with the source) ○ Power (ability to administer rewards and punishments to the receiver)→ Compliance (perceived control, perceived concern, perceived scrutiny) ● Message Structure ○ Order of presentation ■ Primacy V Recency Effect ○ Conclusion Drawing ○ Message Sidedness ■ One-sided V Two-sided message ● Refutational approach (two-sided message where you refute the arguments against your product)

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○ Verbal V Visual Messages Comparative advertising Fear Appeals Humor Appeals ○ Can contribute to **Wearout Channel Factors ○ Personal V Nonpersonal channels ○ Effects of Alternative Mass Media ■ Self-paced V externally paced Effects of context and the environment Clutter ○ Amount of advertising in a medium

More ● Mnemonics ○ Memory aids, especially those techniques that use vivid imagery and organizational devices ● Subliminal Perception ○ Registration of sensory input without conscious awareness ● AIDA Model ○ Decision making process based off 4 stages: Attention, Interest, Desire & Action ● Hierarchy of Effects Model ○ Method advertisers use to help clarify the objectives of an advertising campaign ● Innovation Adoption Model ○ Model represents stages a consumer passes in the adoption process for an innovation such as a new product ■ Series of steps include Awareness, Interest, Evaluation, Trial & Adoption ● Dissonance/Attribution Model ○ Consumers fist behave, then develop attitudes and then learn or process information (do → feel → learn; usually characteristic of a low involvement product, easy purchases) ● Sleeper Effect ○ Initially discounted messages becomes more effective as time goes on ● Wearout ○ Tendency for a television or radio commercial to lose its effectiveness when it is seen and/or heard repeatedly ● Cognitive → learn ● Affective → feel ● Conative → do...