Marketing Chapter 13 FINAL
What are the steps of developing an ad campaign?
1) Identify and analyse target audience 2) Define advertising objectives 3) Create advertising platform 4) Determine advertising appropriation 5) Develop media plan 6) Create advertising message 7) Execute campaign 8) Evaluating advertising effectiveness 9) FEEDBACK FROM ALL STEPS
What are the steps of the personal selling process?
1. Prospecting 2. Pre-approach 3. Approach 4. Making the presentation 5. Overcoming objections 6. Closing the sale 7. Following up
Describe the steps of the personal selling process:
1. Prospecting - developing a list of potential customers 2. Pre-approach - finding out shit about them (needs, brands they like) 3. Approach - Contacting the potential customer 4. Making the presentation - must attract and hold the prospect's attention, stimulate desire 5. Overcoming objections - anticipate them and address them before the person does. 6. Closing the sale - ask them to buy 7. Following up - see if it went through, if they are satisfied, create a relationship: ask them out, date them for years, break their heart, get back together with them. Drive them crazy because you keep trying to sell them new products but then you come to Jesus and realise that you love them and the rest doesn't matter. But it may be too late. Offer refunds or a buy-back guarantee
What makes up the marketing communications mix?
Advertising, personal selling, sales promotion, product placement, digital marketing, public relations, and word-of-mouth.
What is sales promotion? Why is it used?
An activity and/or material meant to induce resellers or salespeople to sell a product or consumers to buy it. They are used for a LIMITED TIME only, one aspect of promotion, irregular
What are two types of advertising to be aware of?
Comparative advertising and reminder advertising
What is comparative advertising?
Compares a sponsored brand with one or more identified brands on the basis of one or more product characteristics
What is the third step of developing an ad campaign?
Creating the advertising platform
Explain personal selling in the promotion mix?
It provides the freedom to tailor your message to the person; most precise focus of all the mix; very expensive; establishes relationships
What is involved with creating the advertising platform?
It's a consideration of the basic issues/selling points to be included in the advertising campaign. Here, it's important to figure out the benefits of what you are selling, because you cannot say everything in a short ad campaign. Figuring out what is important to the target market is important here.
Why is it necessary to define advertising objectives?
It's very important to know what you want your advertising to accomplish before you invest considerable capital into it. Do you want the advertising to raise awareness? Increase sales? It must be stated clearly and precisely.
Describe developing media plans:
Media plans specify the media mediums to be used and the schedule for running the advertisements. There are a ton of mediums to consider: each of them have advantages and disadvantages. For example, television ads have great reach, but they are expensive. Magazine ads are sexy, but expensive and magazines have a long-reach time. Also, media scheduling decisions are affected by many things, like target market evidence, attributes, budget.
Must a sales person utilise all the steps in the personal selling process?
No two sales person's styles and methods are the same, but they all typically follow those general steps, even if they are unaware they are doing so. Failure to do so might not make the sale or retain customers.
What is public relations? Whom can an organisation reach through public relations?
PR is communication efforts used to create and maintain favourable relations between an organisation and its stakeholders. The main aim of PR is to enhance the total image of a product or company. It's to maintain positive public perception (example: IHOb is in deep shit in the PR department).
What is advertising?
Paid non-personal communication about an organisation and its products transmitted to a target audience through mass media
What is personal selling?
Paid personal communication that attempts to inform customers and persuade them to purchase products in an exchange situation. It is one-to-one communication. It is very effective, yet very expensive.
What are some tools of PR?
Press releases, press conferences, feature articles
What are some of the components of evaluating advertising effectiveness?
Pretest - Evaluation of ads performed before a campaign begins Consumer panel - A panel of a product's actual or potential buyers who pretest ads Post-test - Evaluation of advertising effectiveness after the campaign Recognition test - A post-test in which respondents are shown the actual advertisement and asked whether they recognise it Unaided recall test - A post-test in which respondents identify advertisements they have recently seen but are given no recall clues to help them remember Aided recall test - Compares the sponsored brand with one or more identified brands on the basis of one or more product characteristics
What is product placement and its key features?
Product placement is the strategic location of products or product promotions within TV programs and movies and shit. It is used to reach the product's target market. Can add realism to the program, it's easy to use, as audiences are already pre-segmented because they are choosing to watch a certain film
What is reminder advertising?
Reminds consumers about an established brand's uses, characteristics and benefits
What forms can sponsorship take?
Social sponsorship - to influence customer perceptions of their socially responsible/ethical merits or to improve their image Arts sponsorship Sponsorship of professional athletes, sports teams or sports events Event sponsorship - when an organisation contributes financially to a special event to gain positive publicity
What is sponsorship?
Sponsorship is a form of promotion that influences multiple audiences. It's sort of like a partnership, especially when the sponsor matches the event or cause it is sponsoring. It is used to enhance the public's enjoyment/experience of an event.
What are common mass media venues used in advertising?
TV Radio Internet Newspapers Magazines Direct mail Outdoor displays Signs on vehicles
What factors affect the size of an advertising budget? What techniques are used to determine an advertising budget?
The advertising budget is the total amount of money a marketer allocates for advertising during a specific period of time Market size and distribution, type of product, industry norms, competitive sales, review frequency and contingencies should be considered. Percent-of-sales approach - Budgeting for an advertising campaign by multiplying the firm's past or expected sales by a standard percentage Objective-and-task approach - Budgeting for an advertising campaign by determining its objectives and then calculating the cost of all the tasks needed to attain them Competition-matching approach - Budgeting for an advertising campaign by trying to match competitors' ad outlays Arbitrary approach - Budgeting for an advertising campaign as specified by a high-level executive in the firm
Describe what entails creating the advertising message:
This is the basic content and form of the advertising message. COPY - the verbal portion of an ad ARTWORK ILLUSTRATIONS LAYOUT
What is a target audience? How does a marketer analyse the target audience after identifying it?
This is the first step of developing an ad campaign. A target audience is a group of people at whom advertising is aimed. This might include an entire target market or just a portion of it. A company analyses a target audience based on their variables, most of which are very similar to the four segmenting variables. Companies look at the behaviours, demographics, buying habits, lifestyles, income, etc of their target audience to figure out how to reach them.
How does one execute an advertising campaign?
This is the second to last step of developing the advertising campaign. In this step, the company actually produces the plan and puts it into action. Executing the plan often requires extensive planning and coordination because many tasks must be completed on time and many people and firms are involved.
In what ways is the effectiveness of public relations evaluated?
Through environmental monitoring, public relations audit, communications audit.
What are consumer sales promotion methods?
Ways of encouraging consumers to patronise specific stores /try products