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Chapter 15

Marketing Chapter 15 Notes.docx

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Ryerson University
MKT 100
Laila Rohani

Marketing: MKT100 Chapter 15 Notes Ch. 15: Advertising, Sales Promotion, and Personal Selling The AIDA Model • A common model of the series of mental stages through which consumers move as a result of marketing communications: Awareness leads to Interest, which leads to Desire, which leads to Action • Aided recall occurs when consumers recognize the brand when its name is presented to them • Top-of-mind awareness is a prominent place in people’s memories that triggers a response without them having to put any thought into it • Once the consumer is aware that the company or product exists, communication must work to increase their interest level • After the firm has piqued the interest of its target market, the goal of subsequent messages should move the customer from “I like it” to “I want it” • If the message has caught consumers’ attention and made them interested enough to consider the product as a means to satisfy a specific desire of their, they likely will act on that interest by making a purchase • The lagged effect is a delayed response to a marketing communication campaign Advertising Objectives • Advertising is not free; advertising must be carried by some medium; the source of the message must be known or knowable; advertising represents a persuasive form of communication • Informative advertising is communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase • Persuasive advertising is communication used to motivate consumers to take action • Reminder advertising is communication used to remind consumers of a product or to prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle • Product-focused advertisements are used to inform, persuade, or remind consumers about a specific product or service • Institutional advertisements are used to inform, persuade or remind consumers about issues related to places, politics, and industry or a particular corporation • Public service announcement (PSA) is advertising that focuses on public welfare and generally is sponsored by non-profit institutions, civic groups, religious organizations, trade associations, or political groups; a form of social marketing • Social marketing is the applications of marketing principles to a social issue to bring about attitudinal and behavioural change among the general public or a specific population segment Regulatory and Ethical Issues in Advertising • Advertising Standards Canada (ASC) is a self-regulating body that monitors voluntary industry codes • Puffery is the legal exaggeration of praise, stopping just short of deception, lavished on a product • Stealth marketing is a strategy used to attract consumers that employs promotional tactics which deliver a sales message in unconventional ways, often without the target audience knowing that message even has a selling intent • Viral marketing is a marketing phenomenon that encourages people to pass along a marketing message to other potential consumers Sales Promotion • The tools of any sales promotion can be focused on either channel members, such as wholesalers or retailers, or end-user customers Customer Sales Promotions • Coupons offer a discount on the price of specific items when they’re purchased; some coupons are sent online or by mobile phone • A deal is a type of short-term price reduction that can take several forms, such as “featured price”, a price lower than the regular price; a “buy one, get one free” offer; or a certain percentage “more free” offer contained in larger packaging • A premium is an item offered for free or at a bargain price to reward some type of behaviour, such as buying, sampling or testing • Contests are a brand-sponsored competition that requires some form of skill or effort • Sweepstakes are a form of sales promotion that offers a prize based on a chance drawing of entrants’ names • Sampling offers potential customers the opportunity to try a product or service before they make a buying decision • Loyalty programs are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time • Point-of-purchase (POP) displays are a merchandise display located at the point of purchase, such as at the checkout counter in a grocery store • Rebates refer to a particular type of price reduction that a firm offers because the likelihood that consumers will actually apply for the rebate is low, even though consumers indicate that the rebate offers are a factor of their purchase decision • Product placement is the inclusion of a product in non-traditional situations, such as in a scene in a movie or TV program Trade Channel Sales Promotions • Discounts and allowances are effective incentives used to maintain or increase inventory levels in the distribution channel • Manufacturers sometimes offer a case allowance, a discount or dollar amount taken off each case ordered in a specific period of time • Co-operating advertising is one of the important functions that retailers perform is promoting products to consumers. It helps to compensate trade channel members for money they send promoting products and encourages them to feature products more often • Companies train their sales force because they have contact with end consumers and are ultimately responsible for selling the products they carry Using Sales Promotion Tools • Pop-up stores are temporary storefronts that exist for only a limited time and generally focus on a new product or a limited group of
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