Marketing Function - BIG Lecture [Advertising]

Or… A basic understanding of the Advertising Profession

Political Advertising What sets Political and Issue Advertising apart from all other Type and Techniques? Lie Print Radio TV Cost Payment

Types of Markets A market is a particular type of buyer. Share of market is the percentage of a product category’s total market that buys a particular brand.

Ads for Four Types of Markets Which is which? Consumer Business-to-Business Institutional Channel How are the four ads different? How are they the same?

11 Types of Advertising Brand Retail or Local Directory Direct-Response Business-to-Business Corporate Institutional (Product) Recruitment Political Issue (Advocacy) Public Service (Charity/Non-profit)

26 Advertising Mechanisms or Techniques Co-op Per Inquiry Tie-in Piggyback Competitor Product Placement Product Integration Silent Publicity Advertorial Infomercial

26 Advertising Mechanisms or Techniques (more) Endorsement Testimonial Informational Partnering (Partnership/Affinity/Sponsorship Marketing) Cause-Related Marketing (Positive Association/ Sponsorship Marketing) Co-authoring Co-branding

26 Advertising Mechanisms or Techniques (more) Interactive Scent/Aroma Marketing Virtual Specialty Street Marketing Viral Marketing (Word of Mouth – WOMM) E-viral Marketing (Word of Mouse – E-WOMM) Promotainment House (Promo)

Marketing 101 Determine what people need (and want) and give it to them.

Marketing The exchange of goods and services from manufacturer to consumer. Strategies that employ the various elements of the marketing mix to achieve marketing objectives.

What Is Marketing? Marketing is a process used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer.

What Is Marketing? Exchange is the core domain for marketing: Two or more parties with something of value to one another A desire and ability to give up something of value to the other party A way for the parties to communicate with one another

Marketing Mix A plan that identifies the most effective combination of promotional activities (IMC). The goal is to achieve synergy.

Uncover the specific needs of a group of people (market) Satisfy those needs by developing appropriate products and services Offer products/ services at appropriate prices at a convenient time and location Let potential customers know of their availability and how they meet needs Marketing Principles

Litwin’s 9 P’s of Marketing = Synergy AKA – The Marketing Mix Product Place (Positioning) Price Promotion (Sales) Public Relations Personal selling Policy Politics Packaging

MAC Triad Plus cont. Informization Disseminating information ( message ) to target audience through the proper channel at the best possible time .

Strategy vs. Tactic Strategy = why Tactic = what

Superior tactics cannot overcome a flawed (business) strategy .

Q: IM vs. IMC Integrated marketing links all marketing activities together to achieve a single goal. Integrated marketing communication ties your communication messages together with a consistent look, feel, tone, and message that support your integrated marketing efforts.

The Promotional Mix Promotion is the coordination of all seller-initiated efforts to set up channels of information and persuasion to sell goods and services or promote an idea . Promotion is the communication function of marketing.

The Promotional Mix Advertising Direct Marketing Interactive/Internet Marketing Sales Promotion Publicity/Public Relations Personal Selling

Core of Marketing is Simple: Communicating the value of what you offer to those who can benefit the most How and where do you do that? Use the fundamental principles as a model to guide you

Implementing Both strategic and tactical Get attention with powerful Core Marketing Message Get interest once you have attention – materials and website Keep attention and interest by keeping message in front consistently – Keep in touch

Implementing When they respond, convert to commitment – make the sale Deliver what you promise if you want repeat business and referrals

Advertising Campaigns Consist of multiple messages in a variety of media that center on a single theme or idea

An Advertising Campaign Marketing Communications Activities Integrated In Different Media Interrelated Over a Time Period Coordinated Centered on a Theme or Ideas

Diffusion Process – AITEA/R Create AWARENESS Generate INTEREST Encourage TRIAL EVALUATION ADOPTION/Rejection

AIDA Create ATTENTION Generate INTEREST Develop DESIRE Initiate ACTION

Marketing Function - BIG Lecture [Advertising]

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Marketing Function - BIG Lecture [Advertising]