Marketing Communications
A plan for the optimal use of the elements of promotion:
Advertising
Public Relations
Personal Selling
Sales Promotion
Social Media
What is a Promotional Strategy
Corporate identity; advocacy advertising
What is institutional advertising?
Revenue - Expenses
What is profit?
The process by which meanings are exchanged or shared through a common set of symbols.
What is Communication?
New brands with a small market share
What type of brands spend proportionally more on advertising?
Setting prices so that total revenue is as large as possible relative to total costs.
What is profit maximization?
Personal
Direct communication
Feedback driven
Highly visible communication
What are the benefits of internet social media advertising?
A desirable, exclusive, and believable advertising appeal selected as the theme for a campaign.
What is unique selling proposition?
Net profit after taxes divided by total assets.
What is ROI (Return of Investment)?
Inform, persuade, connect, remind
What are the goals and tasks of promotions?
An arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer’s brand.
What is cooperative advertising?
Discounting early purchases, Limiting early sales at discounted prices, Overbooking capacity
Ads decrease; sales promotion; personal selling; reminder & persuasive
What is the promotional mix when a product is on a mature state of the product life cycle?
Direct mail, door to door delivery, packaging with another product, retail store demo
what are the methods of sampling
Consumers’ responsiveness or sensitivity to changes in price.
Percentage change in quantity demanded of good A / percentage change in price of good A
What is Elasticity of Demand?