MKTG 330 CSULB Moisio Exam 1 Questions & Answers Correctly Answered.

Objectives of MARCOM Programs - Informing, Persuading, Inducing Action Informing - Telling customers about their products, services, and terms of sale Persuading - convincing customers to choose certain products and brands, shop in particular stores, go to certain websites, attend certain events, and other specific behaviors Inducing Action - getting customers to make a purchase or action that is far more immediate than delayed in nature Marketing Communications - represents the collection of all elements in an organization's marketing mix that facilitate exchange by establishing shared meaning with its customers -Intentional and unintentional Promotional Mix - the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, direct marketing, and social media—used to reach the target market and fulfill the organization's overall goals Integrated Marketing Communications (IMC) - the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every contact point at which a company meets the consumer, speaking with one single voice. earned media - a category of promotional tactic based on a public relations or publicity model that gets customers talking about products or services. (Social media, word-of-mouth, buzz) paid media - a category of promotional tactic based on the traditional advertising model, whereby a brand pays for media space(paid search promotion, display ads)owned media - a new category of promotional tactic based on brands becoming publishers of their own content in order to maximize the brands' value to customers(website, app) Reasons for integration - Using multiple communication tools in conjunction with one another can lead to greater results than when used individually and uncoordinated. Synergistic effect in IMC - TV and Online advertisements used together produce more attention, positive thoughts, and higher credibility than the sum of each used individually. 5 key features of IMC - 1. Start with the customer or prospect 2. Use any form of relevant contact or touch point 3. Speak with a single voice 4. Build relationships 5. Affect behavior 1) Start with a Customer or Prospect - -Consumers crave control. Evidenced by consumer generated content. Personalization is important. -Reduced dependence on mass media, Contact customers using touch points that reach them when, where, and how they wish to be contacted. 2. Use any form of relevant contact - -Touch points: ANY message medium capable of reaching target customers and presenting the brand favorably. -360 degree branding: touch points need to surround your target audience. 3) Speak with a Single Voice - Coordination of messages and media is absolutely critical to achieving a strong, unified image and moving customers to action. Use positioning statement. positioning statement - a statement that summarizes company or brand positioning using this form: to (target segment and need) our (brand) is (concept) that (point of difference)4. Build relationships rather than engage in flings - Creating a relationship is an enduring link between the brand and customer that leads to repeat business and brand loyalty Leaky bucket - in effect, firms are putting customers into a leaky bucket, and instead of preventing them from leaking away through the bottom of the bucket, the firm keeps topping up the bucket with new customers. -Much cheaper to retain customers than earn new ones.