IMC Exam 3
Terms
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- Trade Promotions
- Aimed at retailers and members of the distrubition channel -purchace for resale
- Consumer Promotions
- Aimed at enc customers who use the product
- Types of Consumer Promotions
- -Cupons -Premiums - prizes gifts, or other special offers consumers recieve when purchacing -Contests and Sweepstakes -Refunds and Rebates -Sampling -Bonus Pack -Price-offs
- Trade Allowances
- Offers financial Incentives to channel members to motivate them to purchace products from company -Off-invoice allowance - per case rebate paid to retailers for an order -Slotting fees- paid to stock new product -Exit Fees - money paid to a retailer to remove an item from inventory
- Trade Contests
- Manufacturers give rewards to channel partners for winning such contests
- Trade Incentives
- Get the vendor to preform a certian fuction for the merchandiser
- Trade Shows
- Manufacturers meet vendors, discus new product ideas, learn about efforts of competing manufacturers
- Point of Purchace Displays
- POP displays
- Buzz Marketing
- “Buzz†or word-of-mouth marketing emphasizes consumers passing along information about a product. It is generated by: 1.Consumers who truly like a brand and tell others. 2.Consumers who like a brand and are sponsored by a company to tell others. 3.Company or agency employees posing as customers of the company, telling others about the brand.
- Things you need for Buzz Marketing
- Inoculation – the product is introduced Incubation – the product is being used by a small set of trendsetters Infection – widespread use of the product Preconditions for effective buzz marketing: 1.Product must be perceived as different and unique 2.The brand must be perceived as distinct 3.Typically more traditional advertising has to supplement buzz
- Guerilla Marketing
- Guerilla marketing are designed to obtain instant results using limited resources and use creativity and a willingness to try unusual approaches to make an impact.
- Product Placement
- as the planned insertion of a brand or product into a movie, television show or some other program influencing viewers.
- Branded Entertainment
- THe brand is woven into the plot of the show.
- Alternative Media
- Video Game Advertising Cinema Advertising: Use of ads/commercials in movie theatre venues; though issues with clutter exist, this is a newer way of getting a message to a captive audience In-Tunnel Subway/ Parking Lot Advertising: Newer forms of traditional outdoor advertising Escalator Advertising: Placing ads on steps and risers of escalators Airline In-Flight Advertising: “Sky Mall†magazine features numerous top-end brands
- Brand Communities
- Reasons why brand communities form: ⬢ Affirmation of the buying decision/swap advice with others ⬢ Provide members a sense of social identity and bonding A savvy marketing department can facilitate the brand community experience by: ⬢ Creating member benefits to encourage customers to join a group ⬢ Sponsoring special events and group meetings ⬢ Promoting communications among members of the group
- Components of E-Commerce
- ⬢ Catalog ⬢ Shopping cart ⬢ Payment system ⬢ Customer Service Info ⬢ Public Relations Info
- E-Commerce Incentives
- ⬢ Financial incentives ⬢ Convenience-based incentive ⬢ Value-added incentive
- E-Commerce Consumer Concerns
- ⬢ Seller Opportunism and Distrust ⬢ Security and Privacy ⬢ Some Most Comfortable Purchasing Traditionally
- Interactive Marketing
- the development of marketing programs that create interplay between consumers and businesses rather than simply sending messages to potential customers.
- Tactics of Interactive Marketing
- Various Tactics: ⬢ Banner ads ⬢ Blogs and social networks ⬢ Email marketing and newsletters ⬢ Online promotions ⬢ Podcasts ⬢ Viral campaigns
- Blogs
- • From a marketer’s perspective, it can spur positive or negative buzz about products, brands and companies. • Companies often hire individuals to monitor blogs and respond to negative comments. • Some companies sponsor their own blogs to offer customers updates and information (www.flypaper.bluefly.com ). • Researcher ComScore Networks reveal that company-sponsored blogs are effective: individuals who access the Flypaper blog are the company’ s best customers.
- Social Networking
- sites include broadly targetted sites such as Facebook and MySpace as well as more narrowly targetted sites such as PassportStamp.com and YogaMates. ⬢ Brands like CK, Nike and Ralph Lauren are regularly featured on such ⬢ YouTube had 160 million unique visitors in just month in 2008. ⬢ Many companies develop a social networking presence by starting a profile page and accepting friends.
- Consumer Generated Advertising
- ⬢ Increasingly, consumers are actually producing ads for companies and uploading them to sites like YouTube (e.g. Nick Haley and iPod : ⬢ Ad experts predict that the future of advertising lies in completely consumer- generated advertising. ⬢ Consumer-generated reviews also increasingly influential and popular. ⬢ Can influence early adopters
- E-mail Marketing
- • Must be: integrated with other channels, based on web analytics and combined with future web monitoring systems. • Should be: integrated with the site’s content management and other relationship management systems.
- Viral Marketing
- Viral Marketing: Preparing a marketing message that in some way is passed from one consumer to another. Can include: ⬢ advertisements ⬢ hyperlinked promotions ⬢ streaming videos ⬢ various games
- Key to successful Viral Marketing Campaigns
- ⬢ Focus on the product/business. ⬢ Determine why individuals would want to pass the message along and exploit that. ⬢ Consider offering an incentive. ⬢ Make it personal. ⬢ Track the results.
- Major PR Functions
- 1. Identifying internal and external publics. 2. Assessing the corporate reputation. 3. Auditing corporate responsibility 4. Creating positive image-building activities 5. Preventing/reducing damage
- Damage Control Strategies
- Internet Interventions Crisis Management: involves either accepting the blame for an event and offering an apology or refuting those making the charges. Apology Strategies: series of steps taken when the accused cannot escape the revelation that they are “guiltyâ€. Impression Management: managing impressions following a crisis through a series of actions: 1. Expressions of innocence 2. Excuses 3. Justifications 4. Other explanations
- Sponsorship Marketing
- company pays money to sponsor someone or some group that is participating in an activity; sponsorships are meant to: 1. Enhance a company’s image 2. Increase a firm’s visibility 3. Differentiate a company from its competitors 4. Showcase specific goods and services 5. Help a firm develop closer relationships with current and prospective customers 6. Unload excess inventory
- Event Marketing
- company pays money to support a specific event, event marketing is meant to: 1. Help the firm maintain its market share 2. Build strong brand presence in the marketplace. 3. Enhance the product or firm’s image.