MGTA02H3- Midterm Exam Guide - Comprehensive Notes for the exam ( 20 pages long!)
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MGTA02H3 Full Course Notes
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Document Summary
From information standpoint, seeks to accomplish 4 things with potential buyers: 1. Make them knowledgeable about products: persuade them to like products, 4. Marketers use promotion to promote these four goals (not including sales): communicating information (can be comminuted in writing, usually, verbally etc. )(marketers try to place information wherever consumers may be: positioning products. Product positioning the establishment of an easily identifiable image of a product in the minds of consumers: adding value, controlling sales volume. 4 types of promotional tools: advertising, personal selling, sales promotions, publicity and public relations combination of these tools = promotional mix. Promotional mix that portion of marketing concerned with choosing the best combination of advertising, personal selling, sales promotions, and publicity and public relations to sell a product. Consumer buying process and the promotional mix: stage of the consumer buying process explanation (most effective promotional tool, problem recognition (need) marketers must make sure buyers are aware of their product (advertising; publicity)
