Ad Final
Terms
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- elements of marketing
- Pricing, Distribution, Promotion, Conception
- Marketing Key Concepts
- Utility, Exchanges, Perception, Satisfaction
- Cycle of Marketing Process Participants
- Customers to Markets to Marketers
- Market Types
- Consumer, Business, Government
- Types of Government Market Types
- Local, Regional, Transnational or Global
- Theories of Learning
- Cognitive and Conditioning
- type of learning that involves memory, thinking, and problem solving, relevant to complex purchases and learning from other people
- cognitive
- theory of learning involving trial & error, relevant to simple, everyday purchases
- conditioning
- consumer behavior: results of learning
- Attitude to Interest to Habit to Loyalty
- underlying forces driving decisions
- motivation
- basic and often instinctive motivation
- needs
- motivations learned during lifetime
- wants
- Maslow\'s Hierarchy of Needs
- Physiological, Safety, Social, Esteem, Self-Actualization
- motive involving problem removal or avoidance
- negative
- motive involving benefit, bonus, or reward
- positive
- interpersonal influences
- family, culture, society (reference groups and opinion leaders)
- nonpersonal influences
- time, point of sale, environment
- market segmentation process
- 1.) Identify people with shared needs and characteristics 2.) Aggregate these groups into market segments according to their mutual interest in the product\'s utility
- 4 P\'s of the Marketing Mix
- Product (Concept)-Promotion-Price-Place (Where it is distributed geographically)
- market segmentations
- behavioristic, geographic, psychographics, demographics
- Order of product life cycle
- Inroduction, Growth, Maturity, Decline
- price factors
- demand, corporate goals and strategies, production & distribution, competition
- distribution to network or buyer club
- direct
- distribution to exclusive, selective, or intensive
- indirect
- distribution to franchises
- vertical
- Marketing Communication Types
- collateral materials, personal selling, public relations, sales promotion, product advertising
- functions of marketing research
- consumer needs & market segments, product development, assess effectiveness, financial planning, quality control
- Marketing Research Purposes
- recruit new customers, retain current customers, regain lost customers
- Steps in the Research Process
- 1.) Analyze situation 2.) Conduct informal, explanatory research 3.) Establish research objectives 4.) Conduct Formal Research 5.) Interpret and Report Findings
- quantitative methods
- experiment, observation, surveys
- top-down marketing plan
- Situation Analysis, Marketing Objectives, Marketing Strategies, Marketing Tactics; Used in larger corporations
- Bottom-up marketing plan
- marketing tactics, marketing strategy, marketing results; used for small business- \"Survival Mode\"
- keys to building brand equity
- customers, not product are focus; know that customers have choices; market relationships, not transactions
- importance of relationships
- cost of lost customers; cost of acquring new customers; value of loyal customers
- levels of relationships
- transactional, reactive, accountable, proactive, partnership
- levels of intergration
- unified image, consistent voice, good listener, world-class citizen
- sources of brand messages
- planned (controlled messages), unplanned (customer reviews), product, service
- integration triangle
- say (planned messages), do (product & service messages), confirm (unplanned messages)
- Elements of SWOT analysis
- Strengths, Weaknesses, Opportunities, Threats
- Tradiontional Advertising Pyramid
- Awareness, Comprehension, Conviction, Desire, and Action
- Elements of the Creative Mix
- Target Audience, Product Concept, Communications Media, Advertising Message
- methods of allocating funds
- sales percentage, market share, objective/task, empirical research
- decisions and issues of media planning
- which media, where, what time of year, how often, how to integrate
- challenges of increasing media options
- more competitors, rising costs, media complexity, greater audience fragmentation, more media options
- media planning activities
- situation anaylsis, marketing plan, advertising plan
- advertising plan
- set media objectives, determine media strategy, select media classes, select media within clases
- media use decisions
- print, broadcast, other
- message-distribution objectives
- audience size, message weight, audience accumulation & reach, exposure frequency, continuity
- number one medium of US ad spending
- direct mail
- the number of people in the medium\'s audience
- audience size
- total size of the audience for a set of ads or entire campaign
- message weight
- GRP formula
- reach x average frequency
- how many times an ad is played, repetition
- frequency
- duration of an ad campaign needed to create/ sustain memory
- continuity
- BDI
- brand development index, indicates the sales potential of a particular brand in a specific market
- CDI
- category development index, indicates the potential of an entire category
- BDI formula
- (percent of brands total US sales in the area) divided by (percent of total US pop in the area) x 100
- CDI formula
- (percent of the product category\'s total US sales in the area) divided by (percent of total US pop in the area) x 100
- direct marketing is communication that...
- generates direct orders, promopts information requests, generates store or business traffic, builds and maintains customer database
- types of direct reponse ads
- catalog, print, broadcast, interactive, direct mail
- 2 Types of Direct Marketing
- Personal Selling and Telemarketing
- Advantages of Personal Selling
- most persuasive, best way to establish a relationship, interactive
- Disadvantages of Personal Selling
- labor intensive, expensive, bad reputation, easy to ruin relationships
- advantages of telemarketing
- cost, customer acceptance, interactive
- communication functions of sales representatives
- gathering info for company, providing information to customers, fulfilling customer orders, building client relationships
- Push strategy
- producer to resellers to end users
- Pull strategy
- producer to end user to resellers back to producers
- role of public relations
- 1.) Develop goodwill 2.) Affect public opinion 3.) Improve reputation
- PR Tools
- News releases, press kits, photos, feature articles, printed materials, posters & exhibits, mutlimedia
- cash or in-kind payment for a commercial opportunity
- sponsorship
- support of a cause without commercial incentive
- philanthropy
- types of sponsorship
- sports, arts, entertainment, cause, fairs/fesivals/annual events
- goals of corporate communications
- 1.) Improve public relations 2.) establish corporate identity 3.) recruit new employees
- elements of the creative team
- copywriter, art director, creative director
- elements of audience resonance
- Informal, Transformational
- Elements of strategic relevance
- audience needs and wants, client goals
- four elements of advertising strategy
- target audience, product concept, communications media, advertising message
- integrated marketing communications
- relationship marketing, consitency, interaction throughout
- in what form do advertising messages come?
- narrative, dramatic, commericial, autobiography
- types of local advertisers
- franchises and dealers, stores with branded merchandise, specialty businesses, government and non-profit
- types of local advertising
- product advertising, institutional advertising, classified advertising
- branding
- identify products and their sources and differentiate them from other products
- types of scheduling methods
- continuous, flighting, pulsing
- individuals reading an ad look at the _____ first
- picture
- three components of message strategy
- verbal, nonverbal, technical
- ways to measure sponsorship results
- pre-post sponsorship surveys, measure spending equivalencies, tracking devices
- 5 standard subjects for ad visuals
- humor, testimonial, negative appeal, product in use, product alone