MKTG 3010 EXAM 3 VERIFIED STUDY GUIDE
Promotional/marketing communication mix - Answers - specific blends of tools that the
company uses to persuasively communicate customer value
Components of the promotional mix - Answers - - advertising
- public relations
- personal selling
- direct and digital marketing
- sales promotions
Advertising - Answers - Pros: broad reach, expressive, many options and inventory
Cons: expensive, impersonal, lots of clutter
Personal selling - Answers - personal presentation by sales force
Pros: relationship-building, direct feedback, responsive
Cons: expensive to scale, only applicable to large and singular purchases
Sales promotion - Answers - short-term monetary incentives
Pros: persuasive, creates engaging value
Cons: short-lived effect, can devalue product, does not bring loyalty
Public relations - Answers - obtaining favorable publicity
Pros: earned media, can be more impactful
Cons: hard to control the message
Direct and digital marketing - Answers - engaging directly with individuals to obtain an
immediate response
Pros: targeted
Cons: personal messages are not great for brand positioning
Integrated marketing communications - Answers - integrating a company's promotion to
make a clear, consistent, and compelling message about an organization's brand with
the goal of synergy
Synergy - Answers - the whole is greater than the sum of its parts
Types of media - Answers - - paid
- owned
- earned
- shared
Paid media - Answers - promotional channels paid for by the marketer, including
traditional media and online and digital media
, Owned media - Answers - promotional channels owned and controlled by the company
Earned media - Answers - PR media channels that are not directly paid for or controlled
by the marketer, but that include the content because of interest to the viewer or user
Shared media - Answers - media shared by consumers with other consumers, such as
social media, blogs, mobile media, and viral channels as well as traditional word of
mouth
Push strategy - Answers - a marketing strategy that uses aggressive personal selling
and trade advertising to convince a wholesaler or a retailer to carry and sell particular
merchandise
Pull strategy - Answers - a marketing strategy that stimulates consumer demand to
obtain product distribution
Advertising and communication objectives - Answers - - informative
- persuasive
- reminding
Advertising vs. communication - Answers - advertising: articulated as an ROI, more
quantitative
communication: who do we want to reach? what do you want them to know? what do
you want them to do?
Advertising budget methods - Answers - - affordable method
- percentage of sales method
- competitive method
- objective and task method
Affordable method - Answers - budget is the highest level that the company can afford
Percentage of sales method - Answers - budget is a percentage of sales
- common, but static
Competitive method - Answers - (pairing) spend around the same as competitors on
advertising
Objective and task method - Answers - define objectives, assign tasks to meet
objectives, budget for tasks
Buyer-readiness strategies - Answers - - awareness
- knowledge
- liking
- preference
Promotional/marketing communication mix - Answers - specific blends of tools that the
company uses to persuasively communicate customer value
Components of the promotional mix - Answers - - advertising
- public relations
- personal selling
- direct and digital marketing
- sales promotions
Advertising - Answers - Pros: broad reach, expressive, many options and inventory
Cons: expensive, impersonal, lots of clutter
Personal selling - Answers - personal presentation by sales force
Pros: relationship-building, direct feedback, responsive
Cons: expensive to scale, only applicable to large and singular purchases
Sales promotion - Answers - short-term monetary incentives
Pros: persuasive, creates engaging value
Cons: short-lived effect, can devalue product, does not bring loyalty
Public relations - Answers - obtaining favorable publicity
Pros: earned media, can be more impactful
Cons: hard to control the message
Direct and digital marketing - Answers - engaging directly with individuals to obtain an
immediate response
Pros: targeted
Cons: personal messages are not great for brand positioning
Integrated marketing communications - Answers - integrating a company's promotion to
make a clear, consistent, and compelling message about an organization's brand with
the goal of synergy
Synergy - Answers - the whole is greater than the sum of its parts
Types of media - Answers - - paid
- owned
- earned
- shared
Paid media - Answers - promotional channels paid for by the marketer, including
traditional media and online and digital media
, Owned media - Answers - promotional channels owned and controlled by the company
Earned media - Answers - PR media channels that are not directly paid for or controlled
by the marketer, but that include the content because of interest to the viewer or user
Shared media - Answers - media shared by consumers with other consumers, such as
social media, blogs, mobile media, and viral channels as well as traditional word of
mouth
Push strategy - Answers - a marketing strategy that uses aggressive personal selling
and trade advertising to convince a wholesaler or a retailer to carry and sell particular
merchandise
Pull strategy - Answers - a marketing strategy that stimulates consumer demand to
obtain product distribution
Advertising and communication objectives - Answers - - informative
- persuasive
- reminding
Advertising vs. communication - Answers - advertising: articulated as an ROI, more
quantitative
communication: who do we want to reach? what do you want them to know? what do
you want them to do?
Advertising budget methods - Answers - - affordable method
- percentage of sales method
- competitive method
- objective and task method
Affordable method - Answers - budget is the highest level that the company can afford
Percentage of sales method - Answers - budget is a percentage of sales
- common, but static
Competitive method - Answers - (pairing) spend around the same as competitors on
advertising
Objective and task method - Answers - define objectives, assign tasks to meet
objectives, budget for tasks
Buyer-readiness strategies - Answers - - awareness
- knowledge
- liking
- preference
