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135 Cards in this Set

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Strategic Planning
The process of identifying a problem that can be solved with marketing communication, then determining objectives, deciding on strategies, and implementing the tactics.
Objectives
What you want to accomplish
Strategies
How to accomplish the objectives
Tactics
Actions that make the plan come to life
Seven principles that link creative thinking and strategic planning to business results
1. Always start from scratch
2. Demand a ruthlessly simple definition of the Business problem
3. Discover a proprietary emotion
4. Focus on the size of the idea, not the size of the budget
5. Seek out strategic risks
6. Collaborate or perish
7. Listen hard to your customers
Strategic Business Unit (SBU)
A line of products or all of the offerings under a single brand name
Return on investment (ROI)
A measurement that shows whether, in general, the costs of conducting the business, the investment, are more than matched by the revue produced in return
Marketing Plan
Developed for a brand or product line and evaluated annually, although sections dealing with long-term goals might operate for a number of years. Mirrors the company's business plan and contains many of the same components
(Business mission - Research of external/internal environment - goal formulation - strategy formulation - tactical formulation - implementation - feedback and control)
Market Situation Analysis
Based on extensive market research that assesses the external and internal environments that affect marketing operations. (SWOT)
Share of Market
Measurements referring tot he percentage of the category purchases that are made by the brand's customers.
Marketing Mix Strategy
Includes decisions about the target market, brand position, product design and performance, pricing, and distribution; marketing communication
Campaign Plan
Tightly focused on solving a particular marketing communication problem in a specified time:
-SWOT
-Key Strategic Campaign Decisions
-Media Strategy
-Message Strategy
-Other Marcom Tools Used in Support
Campaign Management
Measurable Objectives
1. A specific effect that can be measured
2. A time frame
3. A baseline (where we are or where we begin)
4. The goal (a realistic estimate of the change the campaign can create; benchmarking is used to justify the projected goal)
5. Percentage change (subtract the baseline form the goal; divide the difference by the baseline)
Position
How consumers define the product or brand in comparison to its competitors
Features
To determine where the brand has an advantage over its competitors
Product Differentiation
A strategy designed to focus attention on product differences that are important to consumers and that distinguish the company's product from that of its competitors
Parity products
Undifferentiated products (milk, gas, drugs, etc)
Feature analysis
Structures an assessment of features relative to competitors' products to identify where a brand has an advantage
Competitive advantage
found where the product has a strong feature in an area that is important to the target and where the competition is weaker
Superiority Position
Something that is faster, fancier, safer, or newer
Preemptive Position
Being the first in the category often creates category leadership and dominance
Value Position
Like Walmart
Psychological position
Like Volvo
Benefit Position
How does the product help the consumer
Usage Position
How, where, and when is the product used and who's using it?
Competitor strategy
How can the prouduct go head to head with or move completely away from competitors
Category Factors
Is competition coming from outside the category?
Perceptual Map
Plots all of the competitors on a matrix based on the two most important consumer decision factors
Repositioning
To make a new position realted to the brand's core concept
Selling Approaches
Hard - Persuasion
Soft - building image for a brand and touch consumer's emotions
Brand image
The mental impression consumers construct for a product
Brand linkage
The richness of the brand image determines the quality of the relationship and the strength of the associations and emotional connections that link a customer to a brand
Integrated Perception
A brand is an integrated perception that includes fragments of information, feelings, and personal experience. All of which come together to give the brand meaning
Share of Wallet
The amount customers spend on the bran
Historical Method
Historical info is the source of this method. A budget may simply be based on last year's budget, with a percent increase for inflation, etc
Objective-task method
looks at the objectives for each activity and determines the cost of accomplishing each objective
Percentage-of-sales Method
Compares the total sales with the total advertising budget during the previous year or the average of several years to compute a percentage
Competitive Budgets
This method uses competitors' budgets as benchmarks and relates the amount invested in ads to the product's share of the market
Share of mind
Share of market
Account Planning
The research and analysis process used to gain knowledge of the consumer that is expressed as a key consumer insight about how people relate to a brand or product
Account Planner
A person in an agency who uses a disciplined system to research a brand and its customer relationships to devise advertising message strategies that are effective in addressing consumer needs and wants
Insight mining
Finding the "a-ha" in a stack of research reports, data, and transcripts
Communication Brief/Creative Brief
Strategy document which explains the consumer insight and summarizes the basic strategy decisions
Outline of a typical Communication Brief
Problem
Target Audience
Consumer insights
Brand imperatives
Communication objectives
The proposition or selling idea
Support
Creative Direction
Media Imperatives
IMC Plan
Follows the same basic outline as an advertising plan, but the difference is the scope of the plan and the variety of marketing communication areas involved in the effort:
Public Relations
Consumer Sales Promo
Trade Sales Promo
Point-of-purchase
Direct Marketing
Sponsorship and Events
Packaging
Specialties
Stakeholder
Any group of people who have a stake in the success of a company or brand
Internal Marketing
Employees are particularly important and their support for marketing, advertising, and marketing communication programs is managed
6-8 principles of IMC
6 - Stakeholders overlap
7 - All contact points deliver brand messages
8 - Consistency drives synergy
Contact Points/Touch Points
All the ways and places where a person can come into contact with a brand, all the points where a message is delivered about the brand
Strategic Consistency
Messages vary with the interest of the stakeholder but the brand strategy remains the same
Cross-functional planning
Everyone involved in delivering messages or responding to consumer messages needs to be involved in planning the campaign so no off-strategy messages undercut the consistency of the effort
Media
The way messages are delivered to target audiences and, increasingly, back to companies, as well as among audience members themselves
Media Vehicle
A specific TV program, newspaper, magazine, or radio station or program
Mass media
The communication channels through which messages are sent to large, diverse audiences
Broadcasting media
Cast their audio and visual signals broadly to reach mass audiences
Niche media
Communication channels through which messages are sent to niche segments (identifiable groups of people with a distinct common interest)
Addressable media
Like the Internet, mail, and the telephone, are used to send brand messages to specific geographic and electronic addresses; Interactive media, such as the phone and internet, allow 2 way communication between companies and customers (b2c, c2c)
Measured Media
The ability of media planners to analyze the cost of a media buy relative to the size of the medium's audience.
What do Media do?
Media deliver messages. They are interactive, engage and connect and touch a consumer
(Principle) Every Technological advance has threatened older media, and every new medium is launched in the footprints of its predecessor media
(Principle) Word of mouth delivers personalization, as well as a high level of persuasion
Media Salespeople
Work for a specific vehicle, such as a magazine or local television station, with the objective of building the best possible argument to convince media planners to use the medium they represent.
They are responsible for assembling packets of information/sales kits
Sales Kits
Compiling profile info about the people who watch, listen, ore read the medium, along with the numbers describing audience size and geographical coverage.
Cross-Media/Multichannel
Deliver a similar cross-media ad sales program... Integrated deals with Radio, internet, outdoor, tv, etc
Media reps/brokers
People/companies who sell space (in print) and time (in broadcast) for a variety of media
Media Planning
Determine the best way to deliver a message
Media Researchers
Compile audience measurement data, media costs, and availability data for the various media options being considered by the planners
Media Planners
Develop the strategic decisions outlined in the media plan, such as where to advertise geographically, when to advertise, and which type of media to use to reach specific types of audiences
Media buyers
implement the media plan by contracting for specific amounts of time or space
Expected to maintain good media supplier relations to facilitate a flow of info within the fast-changing media marketplace
Media Plan
Identifies the best media to use to deliver an advertising message efficiently to a targeted audience
Balance message impact and cost - maximizing impact while minimizing cost
Media Mix
The way various types of media are strategically combined to create a certain kind of impact
Multiplatform
Describes multichannel and multimarketing communication areas
In addition to traditional measured media advertising, they go into a variety of different tools! (Guerilla, events, social media, etc)
Generations
Traditionalists - All print and radio
Boomers - 50's-60's also grew up with TV
Gen Xers - 30's-40's had video games, VCRS, Walkman, Tape recorders
Gen Yers - twenty had cellphones and computers
Millenials - most recent generation
Exposure
Doesn't equate to readership or viewership. First step in making an impact is perception
Circulation
Circulation
Impressions are different from circulation
Refers to copies sold
Gross Impressions
Estimate of total impressions
Impressions is one person's opportunity to be exposed one time to an ad in a specific vehicle
Ratings
Percentage of exposure
Easier measurement to work with because it converts the raw figure to a percentage of households
Share
The percent of viewers based on the number of sets turned on
Reach
The percentage of the media audience exposed at least once to the advertiser's message during a specific time frame
Frequency
The number of times a person is exposed to the advertisement
Intrusiveness
The ability of a medium to grab attention by being disruptive or unexpected
The more intrusive a medium, the more it can be personalized, but also the more costly it is to use
Relationship Marketing
Originated with public relations
Shifts the focus from the objective of getting a one-time purchase by a target to the maintenance of long-term involvement from all of the firm's critical stakeholders
Critical Touchpoint
One that connects the brand and customer on an emotional level and leads to a yes or no decision about a brand relationship
Experiential Marketing
Touch-point strategies and programs use events and store design, among other means, to engage consumers in a personal and involving way
Packaging
Receiving increased attention as a key contact point
Viral Marketing
Designed to create a ground-swell of demand for a brand. Depends totally on consumers creating buzz through their own e-mails and mentions on blogs, FB, YouTube, and Twitter
Customer Service
Represents a company's attitude and behavior during interactions with customers
If an interaction is positive, it can strengthen a customer-brand relationship; if negative, it can weaken or destroy a brand relationship
Guerilla Marketing
Uses the power of involvement to create memorable brand experiences
Product Placement
A brand appears in a TV program, movie, or even in print as a prop
Advertainment/Branded Entertainment
The use of media of entertainment to engage consumers with brands
Webisodes
Similar to TV programs with recurring episodes in a developing story
Branded Apps
Generally free apps that are linked to a brand
Newspaper Lead Time
The advance time needed to produce a publication.
Retailers like to place ads and press releases in newspapers
Newspaper Market Selectivity
Allows newspapers to target specific consumer groups
Newspaper Rate Card
List of the costs for advertising space and the discounts given to local advertisers and advertisers who make volume buys; national advertisers pay a higher rate
Newspapers One-order, one-bill
Newspaper reps sell space for many different newspapers, and it saves an advertiser or its agency from the need to make a multitude of buys to run a national or regional campaign in newspapers
Newspaper Standard Advertising Unit
Makes it possible for newspapers to offer advertisers a great deal of choice within a standard format
An advertiser can select one of the 56 standard ad sizes and be assured that its ad will work in every newspaper in the country
Newspaper Co-op Advertising
An arrangement between the advertiser and the retailer whereby the retailer buys the ad and the manufacturer pays half or a portion depending on the amount of space the manufacturer's brand occupies
Newspaper Display Advertising
Can be of any size and can be placed anywhere in the newspaper except the editorial page
Newspaper Run-of-Paper Rate
Advertisers who don't care where their display ads run in the newspaper
Newspaper Preferred-Position Rate
Lets them select sections in which the ad will appear
Newspaper Supplements
Magazine-style publications inserted into a newspaper
Free Standing Insert
Like the grocery ads in the newspaper
Audit Bureau of Circulations (ABC)
An independent auditing group that represents advertisers, agencies, and publishers
Consumer Magazines
Directed at people who buy products for personal consumption
Business Magazines
Trade - retailers, wholesalers, and other distributors
Industrial - Manufacturers
Professional - Physicians, lawyers
Farm - Agriculture
Corporate - Airlines
Vertical Publication
Presents stories and information about an entire industry
Horizontal publication
Business functions that cut accross industries, like Direct Marketing
Traditional Delivery/Controlled Circulation
Through newsstand purchases or home delivery via the USPS; measured media and their circulation/sales can be determined
Uncontrolled Circulation
The magazine is distributed free to specific audiences
Usually lower readership and lower ad costs
Magazine Double-page Spread
Two ad pages face each other
A double page ad must jump the gutter, the white space running between the inside edges of the pages, so no headline words can run through the gutter
Bleed
A page without outside margins, and the ad's ink extends to the very edge of the page
Gatefold
More than 2 connected pages that fold in on themselves; the use of multiple pages that provide photo essays is an extension of the gatefold concept
Guaranteed Circulation
Readers-per-copy
Directional Advertising
Like what the yellow pages do. It tells people where to go to get the product/service they want
Showing
Typically based on a traffic count, the number of vehicles passing a particular location during a specified period of time.
100 showing is the basic standard unit will expose to 100% of the market population everyday
Boards are usually rented for 30-day periods
Painted bulletins are bought on an individual basis, usually for one, two, ore three years
Broadcast Media
Media forms that transmit sounds or images electronically; includes radio, TV and other video forms, and movie advertising
Radio Affiliates
Radio networks are groups of affiliated stations
Local Public Radio
Usually the NPR stuffs
Cable Radio
Launched in 1990, this tech uses cable TV receivers to deliver static-free music via wires plugged into cable subscribers' stereos
Morning Drive Time segment
The period when the most listeners are tuned in to radio
Radio Aperture
Knowing when the target audience is most likely to be listening and responsive
Spot buys
Local advertising on a city-by-city basis
to gain local ground
Time-shifting
The tech to make it possible to record the programming without the hassles of videotape, letting users pause, do instant replays, and begin watching programs even before the recording has finished
HUT
Households Using Television
Doesn't tell you if anyone is watching the program
TV Sweeps period
Quarterly periods when more extensive audience data and demographics are gathered
Zip
Fast Forward
Zap
Change Channels
Broadband
To indicate a high speed connection to the internet
Bandwidth
Describes the carrying capacity of an individual's computer connection; how much digital data it can handle
Zines
Magazines or newsletters that are only available over the internet
Banner ads
Overall click-through rate has dropped to less than 1%
The most successful banner ads achieve 5-7% click-through and can help build brand awareness even if they don't deliver a high level of response
Offline advertising
Appears in conventional media to drive traffic to a website
Ads in print, etc
Tag Clouds
Visual representations of the use of keywords in searches and tags in social networking
Creates a collage of words associated with a certain phrase or name
Issues of the internet
Measuring Internet advertising and privacy concerns
Database Marketing
Advertiser can input key demographic and behavioral variables, making the consumer feel like the ad is just for him or her