Marketing CH. 12

magazines advantages

High geographic and demographic selectivity; credibility and prestige; high-quality reproduction; long life and good pass-along readership

outdoor disadvantages

Little audience selectivity; creative limitations

newspapers disadvantages

Short life; Poor reproduction quality; Small pass-along audience

major advertising strategy elements

creating advertising messages and selecting advertising media

Diversity between countries requires advertisers to adapt their campaigns to meet local...

cultures and customs, media characteristics, regulations

radio advantages

good local acceptance; high geographic and demographic selectivity; low cost.

Television Disadvantages

high absolute costs; high clutter; fleeting exposure; less audience selectivity

direct mail advantages

high audience selectivity; flexibility; no ad competition within the same medium; allows personalization

digital, mobile, and social media advantages

high selectivity, low cost, immediacy, engagement capabilities

standardization drawbacks

ignores the fact that country markets differ in their cultures, demographics, and economic conditions

media decisions

impact and engagement, major media types, specific media vehicles, media timing

Advertising Objectives

informative advertising, persuasive advertising, reminder advertising

magazines disadvantages

long ad purchase lead time; high cost; no guarantee of position

standardization benefits

lower advertising costs, greater global advertising coordination, more consistent worldwide image

content marketing

managers create, inspire, and share brand messages and conversations

message decisions

message strategy & message execution

direct and digital marketing

more targeted and interactive, immediate and personalized

return on advertising invenstment

net return on advertising investment divided by the costs of the advertising investment

public relations tools

news, special events, written materials, audiovisual materials, corporate identity materials, public service activities

personal selling

personal interaction between 2+ people, allows all kinds of customer relationships to spring up, buyer feels a greater need to listen and respond, most expensive promotion tool

advertising

reaches masses of buyers at low cost per exposure, builds a long term image for a product, can trigger quick sales, has public nature and is viewed as legit, very expressive, impersonal and lacks direct persuasiveness of salespeople

percentage of sales method

setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price

affordable method

setting the promotion budget at the level management thinks the company can afford

competitive parity method

setting the promotion budget to match competitors' outlays

execution style

the approach, style, tone, words, and format used for executing an advertising message

creative concept

the compelling "big idea" that will bring an advertising message strategy to life in a distinctive and memorable way

advertising budget

the dollars and other resources allocated to a product or a company advertising program

advertising media

vehicles through which advertising messages are delivered to their intended audiences

Public Relations

very believable to readers, can dramatize a company or product, reaches many prospects, effective and economical when well thought out

media costs and availability, advertising practices

what do countries differ in?

communication effects, sales and profit effects

what should advertisers regularly evaluate?

sales promotion

wide assortment of tools with unique qualities, attracts attention and offers incentives to purchase, used to dramatize product offers and boost sales, invites and rewards quick response but has short lived effects

objectives setting

communication objectives & sales objectives

promotion mix

consists of tools that the company uses to engage customers, persuasively communicate customer value, and build customer relationships.

steps in advertising media selection

1. determining reach, frequency, and impact and engagement 2. choosing among major media types 3. selecting specific media vehicles 4. choosing media timing

functions of public relations departments

1. press relations or press agency 2. product publicity 3. public affairs 4. lobbying 5. investor relations 6. development

radio disadvantages

Audio only; fleeting exposure; low attention ("the half-heard" medium); fragmented audiences

objective and task method

Developing the promotion budget by (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and (3) estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.

outdoor advantages

Flexibility; high repeat exposure; low cost; low message competition; good positional selectivity

newspapers advantages

Flexibility; timeliness; good local market coverage; broad acceptability; high believability

Television Advantages

Good mass-marketing coverage; low cost per exposure; combines sight, sound, and motion; appealing to the senses

digital, mobile, and social media disadvantages

Potentially low impact High audience control of content and exposure

direct mail disadvantages

Relatively high cost per exposure, Junk mail" image

advertising evaluation

communication impact, sales and profit impact, return on advertising

Changing consumers, changing marketing strategies, and advancements in digital technology

What factors are changing the face of today's marketing communications?

more targeted, social, and engaging

What is the new marketing communications model?

pull strategy

a marketing strategy that stimulates consumer demand to obtain product distribution

Push strategy

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise

advertising objective

a specific communication task to be accomplished with a specific target audience during a specific period of time

madison and vine

a term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages

advertising strategy

accomplishes the company's advertising objectives

native advertising

advertising or other brand-produced online content that looks in form and function like the other natural content surrounding it on a web or social media platform

Marketing Communications Mix

advertising, sales promotion, personal selling, public relations, direct and digital marketing

budget decisions

affordable approach, percent of sales, competitive parity, objective and task

advertising agency

assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs.

creating the advertising message and brand content

breaking through the clutter, merging advertising and entertainment, message and content strategy, message execution, consumer generated content