Advertising PDF

Preview

Summary

advertising...

Description

Define Modern Advertising ● Advertising is paid, persuasive communication ● Uses non personal mass media to reach broad audiences to connect an identified sponsor with a target audience. ● 5 basic components 1. Paid communication 2. Sponsor is identified 3. Tries to persuade or influence 4. Reaches a large audience 5. Conveyed through non-personal mass media Key Decisions ● Setting objectives ● Setting the budget ● Developing the advertising strategy ● Evaluating advertising campaigns Setting Objectives ● Advertising objectives can be classified by primary purpose: ● Inform ○ Introducing new products ● Persuade ○ Becomes more important as competition increases ○ Comparative ads ● Remind ○ Most important for mature products Setting the Budget ● Several factors should be considered when setting the ad budget: ○ Stage in the PLC ○ Market share ○ Level of competition ○ Ad clutter ○ Degree of brand differentiation Developing the Advertising Strategy ● Creative challenges ○ Media fragmentation ○ Soaring media costs ○ Advertising clutter ● Creating ad messages ○ Message strategy ■ Creative concept ■ Advertising appeal ○ Message execution ■ Many execution styles

■ Tone, format, illustration, headline, copy Evaluating advertising campaigns * Key concepts of Advertising ● Strategy ○ The logic and planning behind the ad ○ Advertisers develop ads to meet objectives ○ Advertisers direct ads to identified audiences ○ Advertisers create messages that speak to the audience’s concerns ○ Advertisers run ads ● Creative idea ○ The central idea that grabs the consumer’s attention ○ Creativity drives the entire field of advertising ● Execution ○ Effective ads adhere to the highest production values in the industry ○ Clients demand the best production the budget allows ● Media ○ Communication channels that reach a broad audience ○ How to deliver the message is just as important as coming up with the creative idea of the message Roles of Advertising ● Marketing ○ The process a business uses to satisfy consumer needs by providing goods and services ■ Product category ■ Target market ■ Marketing mix ■ Brand ○ 4P vs. 4C ■ Product (consumer wants and needs), Price (cost to satisfy), Place (Convenience to buy), Promotion (communication) ● Communication ○ Can reach a mass audience ○ Introduce products ○ Explains important changes ● Economic ○ Moves from being informational to creating demand ○ Advertising is an objective means for providing price-value information, thereby creating a more rational economy ● Societal ○ Informs consumers about innovations and issues ○ Mirrors fashion and design trends

○ ○ ○

Teaches consumers about new products Helps shape consumer self image Perpetuates self-expression

Functions of Advertising ● Build awareness of products and brands ● Creates a brand image ● Provides product and brand information ● Persuades people ● Provides incentives to take action ● Provides brand reminders ● Reinforces past purchases and brand experiences The Key Players ● Advertiser (client) ○ Uses advertising to send out a message about its products ○ Initiates the advertising effort by identifying a marketing problem ○ Approves audience, plan and budget ○ Hires the advertising agency ● Agency ○ Has strategic and creative expertise, media knowledge, workforce talent, and negotiating abilities ■ Advertising department ■ In-house agency ● Media ○ The channels of communication that carry the message to the audience ○ Are also companies or huge conglomerates ○ Mass media advertising can be cost effective because the costs are spread over the large number of people the ad reaches ● Supplier ○ Assist advertisers, agencies, and the media in creating and placing ads ○ Vendor services are often cheaper than those in-house ● Audience ○ The desired audience for the advertising message ○ Data-gathering technology improves accuracy of information about customers ○ Advertisers must recognize the various target audiences Types of Advertising ● Brand advertising ● Retail or local advertising ● Direct-response advertising ● Business-to-business advertising ● Institutional advertising ● Nonprofit advertising ● Public service advertising

What makes an Ad effective? 1. If it creates an impression for a product or brand 2. If it influences people to respond in some way 3. If it separates the product or brand from the competition in the mind of the customer 4. Effective advertising messages will achieve the desired impact (objective) on the target audience. The evolution of advertising ● Age of print ● Industrial Revolution and … The Current Advertising Scene ● Expanded view ○ Electronic media are changing the media landscape ○ New media are more personal and interactive ● Integrated marketing communication ○ Unify all marketing creation tools for consistency ● Globalization ○ Increasing globalization of marketing programs ○ Advertisers are moving into global markets Advertising to International Markets ● Advantages of standardizing worldwide advertising ○ Lower ad costs ○ Greater global command ○ … ● Drawbacks ○ Ignores differences in demographics and economic concerns ● Most marketers think globally but act locally...