MARK 340 Study Guide - Final Guide: Mixin, Target Market, Market Segmentation
Document Summary
Flow of purchase decisions: unawareness knowledge preference purchase. Integrated marketing communication (imc)- practice of blending different elements of the communication mix in mutually reinforcing ways. Imc is applied to meaningful market segments targeted for potential long term profitability. Crm approaches will retain these groups as loyal, preferably crown jewel customers over an extended time period. Info requirements: nature of offering, target market, capacity of organization. Advertising: product/service ad- attempts to communicate about a particular product, service, or brand. Institutional ad- attempts to promote an organizational image, to stimulate generic demand for a product, or build goodwill for an industry. Mainstream ad approaches: types of appeals. Emotional- focuses on psychological needs and feelings. Flighting- concentrated in particular advertisement in specified time period. Frequency- average number of times an individual is exposed to an ad. Gross rating points (grp)- reach x frequency, or weight, the sum of ratings from individuals vehicles in a given schedule.
