CSUF MKTG 351 Final Exam Review Questions and Answers 100% Pass

CSUF MKTG 351 Final Exam Review Questions and Answers 100% Pass Promotional Mix 1) advertising 2) public relations 3) sales promotions 4) personal selling 5) social media promotion Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response promotional strategy a plan for the optimal use of the elements of promotion to elicit a particular response; main goal is to convince buyers that the products offer competitive advantage advertising mass communication, high control, relatively low cost per customer, low credibility public relations unpaid, effective, limited control, higher credibility sales promotion all non-advertising and public relations activities that focus on promoting sales; typically short-term although may have spillover long-term effect; intended to induce product trial and additional sales personal selling in-person selling, more costly; more effective; works well for high cost items; aimed to inform and influence customers social media recent addition to promotional mix, shift of control of communication efforts to consumers Integrated Marketing Communications (IMC) aims to align all elements of the promotional mix for the best possible results marketing communication the process by which marketers impress on the buyers the value that their products have to offer Promotional Goals informing (early stages), persuading (late intro/ early maturity), reminding (later stages), connecting (ongoing) AIDA concept Attention: gain awareness of target market Interest: create appealing message for target market Desire: convince to create preference for Action: communication should have call to action- go out and buy it factors affecting promotional mix -nature of the product -stages in the product life cycle -type of buying decision -push and pull strategies nature of the product mass media (advertising) will work well for mass produced, consumer products where personal selling will work better for customized, business products Stages of Product Life Cycle early stage: advertising/public relation for awareness and sales promotion to induce trial growth stage: advertising and public relations for establishing differential advantage, reduce sales promotion maturity stage: persuasive reminder advertising and sales promotion to increase sales decline stage: advertising reduced, personal selling efforts continue Type of Buying Decision simple/routine: require no deliberation, reminder advertising and sales promotion can be very effective