Definitions-Chapter 1-10

Exchange: two or more parties with a desire and ability to exchange and a way to communicate.

Marketing Mix:

Product Symbolism: what a product or brand means to consumers and what they experience when is using it.

Brand equity: intangible value, image or goodwill towards a brand

INdirect Channels: distribution through a network of whosalers or retailers

Direct channels: bring to consumers direcly through distribution means like the internet

Promotional Mix: advertising, direct makretin, internet marketing, sales promotion, public realtions, personel selling

Advertising: paid form of non personal communication about an something by a sponsor

Sales promotion: marketing that provides extra value or incentive to sales force, distributor or ultimate consumer and can influence behavior to stimulate sales. Consumer oriented and trade oriented (wholsalers)

Public realtions: management function which evlatues public attitudes, identifies public interest and executes action to ear public acceptance.

Publicity: non personal communication regarding an organization, procudt or service, not directly paid for or run under an idnefied sponsorship.

Direct Marketing: organistiona communicate directly with target audiences to generate a response or transaction.

Direct response advertisning: prduct promoted through an ad an ecrouges the prodct or service to be bought direct from manufatuer

Internet Marketing: Interactive Marketing: allow for two way cflow of imformation where users can partipate and modify iformation recived isnatly.

Persoanl selling: person to person in which seller attempts to assist or persuade prospectice buyer.
Promotion: coordinating seller initatied effrots to set up channels of info and persuasion for goods or service.

Specialized marketing communication services: direct marketing agenices, sales promotion agenices, interactive agencies, PR