Podcast
Questions and Answers
What influences the communication mix in consumer markets?
What influences the communication mix in consumer markets?
In the customer conviction stage, which promotional tool has the most influence?
In the customer conviction stage, which promotional tool has the most influence?
During the introduction stage of a product life cycle, which promotional tools are most effective?
During the introduction stage of a product life cycle, which promotional tools are most effective?
What is the primary driver of demand during the growth stage of a product life cycle?
What is the primary driver of demand during the growth stage of a product life cycle?
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In which stage of the product life cycle do sales promotion, advertising, and personal selling grow in importance?
In which stage of the product life cycle do sales promotion, advertising, and personal selling grow in importance?
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During the reordering stage, which promotional tools are involved?
During the reordering stage, which promotional tools are involved?
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What is the primary goal of advertising and publicity in the awareness building stage?
What is the primary goal of advertising and publicity in the awareness building stage?
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Why is personal selling more important in business markets than in consumer markets?
Why is personal selling more important in business markets than in consumer markets?
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What happens to the need for promotional tools during the growth stage of a product life cycle?
What happens to the need for promotional tools during the growth stage of a product life cycle?
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What is the primary driver of demand during the maturity stage of a product life cycle?
What is the primary driver of demand during the maturity stage of a product life cycle?
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In which stage of the product life cycle are sales promotion, advertising, and publicity used to stimulate sales?
In which stage of the product life cycle are sales promotion, advertising, and publicity used to stimulate sales?
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What is the primary goal of personal selling in the customer conviction stage?
What is the primary goal of personal selling in the customer conviction stage?
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Study Notes
Factors Influencing Communication Mix
- Type of product and market affect communication allocations
- Consumer markets spend more on sales promotion, while business markets prioritize personal selling
Consumer Market Segmentation
- Type of consumer segment influences the communication mix
- Factors to consider: buyer readiness stage, product life cycle, and cost effectiveness
Buyer Readiness Stage
- Awareness building: advertising and publicity are most important
- Customer comprehension: advertising and personal selling are key
- Customer conviction: personal selling has the most influence
- Closing sales: personal selling and sales promotion are crucial
- Reordering: personal selling, sales promotion, and some advertising are involved
Product Life Cycle
- Introduction stage: advertising, publicity, and personal selling are most effective
- Growth stage: demand is driven by word of mouth, reducing the need for other promotional tools
- Maturity stage: sales promotion, advertising, and personal selling grow in importance due to high competition
- Decline stage: sales promotion, advertising, and publicity may be used to stimulate sales and clear inventory
Factors Influencing Communication Mix
- Type of product and market affect communication allocations
- Consumer markets prioritize sales promotion, while business markets prioritize personal selling
Consumer Market Segmentation
- Type of consumer segment influences the communication mix
- Factors to consider when segmenting consumer markets: buyer readiness stage, product life cycle, and cost effectiveness
Buyer Readiness Stage
- Awareness building: advertising and publicity are most important
- Customer comprehension: advertising and personal selling are key
- Customer conviction: personal selling has the most influence
- Closing sales: personal selling and sales promotion are crucial
- Reordering: personal selling, sales promotion, and some advertising are involved
Product Life Cycle
- Introduction stage: advertising, publicity, and personal selling are most effective
- Growth stage: demand is driven by word of mouth, reducing the need for other promotional tools
- Maturity stage: sales promotion, advertising, and personal selling grow in importance due to high competition
- Decline stage: sales promotion, advertising, and publicity may be used to stimulate sales and clear inventory
Factors Influencing Communication Mix
- Type of product and market affect communication allocations
- Consumer markets prioritize sales promotion, while business markets prioritize personal selling
Consumer Market Segmentation
- Type of consumer segment influences the communication mix
- Factors to consider when segmenting consumer markets: buyer readiness stage, product life cycle, and cost effectiveness
Buyer Readiness Stage
- Awareness building: advertising and publicity are most important
- Customer comprehension: advertising and personal selling are key
- Customer conviction: personal selling has the most influence
- Closing sales: personal selling and sales promotion are crucial
- Reordering: personal selling, sales promotion, and some advertising are involved
Product Life Cycle
- Introduction stage: advertising, publicity, and personal selling are most effective
- Growth stage: demand is driven by word of mouth, reducing the need for other promotional tools
- Maturity stage: sales promotion, advertising, and personal selling grow in importance due to high competition
- Decline stage: sales promotion, advertising, and publicity may be used to stimulate sales and clear inventory
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Description
Learn about the factors that influence the communication mix, including the type of product and market, and how to segment consumer markets effectively.
