Chapter 6
The Marketing Program
The Marketing Program
Paid, nonpersonal communication transmitted through media such as television, radio, magazines, newspapers, direct mail, outdoor displays, the Internet, and mobile devices
Advertising
A combination of name, symbol, term, or design that identifies a specific product
Brand
Misleading a consumer into thinking that a good or service is more environmentally friendly than it actually is
Greenwashing
Activities, mechanisms, or processes designed by the firm to help ensure the successful implementation of the marketing strategy
Formal marketing controls
The immediate financial outlay or commitment that must be made to purchase the product
Transactional costs
The coordination of all promotional activities (media advertising, social media, direct mail, personal selling, sales promotion, public relations, packaging, store displays, website design, personnel) to produce a unified, customer-focused message
Integrated marketing communication (IMC)
The use of two or more brands within one product to capitalize on the equity of each brand
Cobranding
Codes of conduct that consist of formalized rules and standards that describe what the company expects of its employees
Codes of ethics
All communication aimed at informing and persuading employees about the merits of the marketing strategy
Internal promotion
The degree of superiority of a firm’s goods or services
Quality
The strategic combination of the four basic marketing mix elements, commonly known as the 4Ps: product, price, place (distribution), and promotion
Marketing program
Creating a mental image of the product offering and its differentiating features in the minds of the target market
Positioning
A broad concept that relates to an organization’s obligation to maximize its positive impact on society while minimizing its negative impact
Social responsibility
A shared set of guiding principles that bind the entire organization together as a single, functioning unit
Shared goals and values
A business philosophy aimed at defining and increasing customer value in ways that motivate customers to remain loyal
Customer relationship management (CRM)
Activities that create buyer incentives to purchase a product or that add value for the buyer or the trade
Sales promotion
A positive attitude toward a brand that causes customers to have a consistent preference for that brand over all other competing brands in a product category
Brand loyalty
When an incentive (usually money or expensive gifts) is offered in exchange for an illicit advantage
Bribery
Measures of performance to evaluate success
Key performance indicators (KPIs)
The heart of the firm's product offering
Core product
A customer’s subjective evaluation of benefits relative to costs to determine the worth of a firm’s product offering relative to other product offerings
Value
Creating differences in the firm’s product offering that set it apart from competing offerings
Differentiation
When firms charge different prices to different customers
Price discrimination
The use of a marketing-like approach to motivate, coordinate, and integrate employees toward the implementation of the firm’s marketing strategy
Internal marketing
Increasing transactions to focus on more fully serving the needs of current customers
Share of customer