According to Armstrong and Kotler, what are the five elements of integrated marketing communication? How do organizations employ these elements to achieve their marketing goals?
What will be an ideal response?
Organizations that use the tools of the promotional mix in combination with each other in order to inform, persuade and remind consumers about products are said to be utilizing integrated marketing communication or IMC. IMC, according to Armstrong and Kotler, comprises five elements: 1. advertising, which is any paid form of nonpersonal promotion of ideas, goods or services by an identified sponsor; 2. sales promotion or the use of short term incentives to encourage the purchase of sale of a good or service; 3 . personal selling, whose purpose is to make sales and build customer relationships through personal presentations by members of a firm's sales force; 4. direct marketing, which is the utilization of such techniques as direct mail, telephone, direct-response television, the Internet and other tools to communicate directly with carefully selected target groups of consumers in order to obtain an immediate response and foster enduring customer relationships; and 5. public relations, which cultivates and maintains good relationships with a firm's various publics by generating positive publicity, enhancing corporate image, and managing crises and unfavorable communication about the organization.
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The World Trade Organization, consisting of 158 countries, works to erect entry barriers or regulations that limit free trade
Indicate whether the statement is true or false
A company is considering two alternative investment opportunities, each of which requires an initial cash outlay of $110,000. The expected net cash flows from the two projects follow: Project A Project Z Year 1 ……………… $ 30,000$ 44,000Year 2 ………………44,000 70,000Year 3……………… 70,000 30,000Totals ……………… $144,000$144,000 Based on a comparison of their net present values, and assuming the same discount rate of 12% is required for both projects, which project is the better investment? Use the table values below to compute the net present value of each project's cash flows.Periods Present value of 1 at 12%1……………….0.89292……………….0.79723……………….0.7118
What will be an ideal response?
Waiting-line models are useful to operations in such diverse settings as service systems, maintenance activities, and shop-floor control
Indicate whether the statement is true or false
The use of parody in advertising will fit best in cultures of the following configuration of dimensions.
a. individualism and large power distance b. small power distance and weak uncertainty avoidance c. individualism and masculinity d. collectivism and weak uncertainty avoidance