Advertising & Brand Activation Midterm

Holding Companies

Multi billion dollar companies

Focused on profit & stock price

Amazon

Who was the largest advertiser in the US in 2022

Retail

Largest Ad spending category in 2022

Marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Brand

a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers.

"intangible" --> intended to create distinctive images in minds

Advertising

a marketing tactic involving paying for space to promote a product, service, or cause through a message

to reach people most likely to be willing to pay for a company's products or services and entice them to buy

Goal of advertising?

Positioning Statement

an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don't

Positioning

the process of identifying an appropriate market niche for a product (or service or brand) and getting it established in that area

No

Is positioning a tagline?

A tagline

what is the external manifestation of the positioning

Price

This is part of perception and positioning

Broadcast / Cable Networks

Publishers (Magazines / Newspapers)

Radio Stations

Social Media Platforms

Types of media ad spending

Co-op advertising

a collaborative marketing effort where two or more businesses, typically a manufacturer and a retailer, share the costs of advertising to promote a mutual product

Informative

Persuasive

Reminder

Promotional

4 types of advertising

Informative advertising

type of advertising that creates awareness of brands, products, services, and ideas. It announces new products and programs and can educate people about the attributes and benefits of new or established products

Persuasive advertising

type of advertising that tries to convince customers that a company's services or products are the best, and it works to alter perceptions and enhance the image of a company or product. Its goal is to influence consumers to take action and switch brands, try a new product, or remain loyal to a current brand

Reminder advertising

reminds people about the need for a product or service, or the features and benefits it will provide when they purchase promptly

Promotional advertising

type of advertising that drives immediate sales or traffic by making a specific offer or providing an incentive, mostly time limited

Steve Hayden

Who made the Apple ad that was said to be the "best ad ever"

Products

Services

Retailers

Travel

Restaurants

Types of marketing companies

B2C --> Business to customer (Fast food)

B2B --> Business to business (CRM's)

DTC --> Direct to consumer (shave kits)

Retailer "Co-op" (In-store displays)

Types of marketing

Sales & Marketing

Natural tension between what two functions in a company

CMO, VP of marketing

Brand Management

Research

Product Development

In-house agency

Types of marketing departments

Marketing KPI's (Key Performance Indicators)

specific, numerical marketing metrics that organizations track in order to measure their progress towards a defined goal within their marketing channels

Sales

Market Share

Brand Sentiment

Profitability / Margin

Store Visits

Social Engagement

Primary KPI's

Annual Marketing Plan

helps you set your marketing on the right course to make your company's business goals a reality

a high-level plan that guides the direction of your team's campaigns, goals, and growth

Target Personas

Customer Journey

Value Proposition

Components under Audience in the marketing plan

Marketing goals

Key strategies

Pricing & positioning

Components under Strategies in the marketing plan

Marketing Channels

Tactics and Activities

Measures of Success

Components under Activities in the marketing plan

Market Research

The action or activity of gathering information about consumers' needs and preferences

Segmentation

the process of dividing a market of potential customers into groups, or segments, based on different characteristics

with consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations

How are segments created

Demographic (age, gender, etc.)

Geographic (region, country, etc.)

Psychographic (lifestyle, interests, etc.)

Behavioral (previous behavior w/ the brand)

4 types of segmentation

Audience / Segmentation

Ads

Brand Perception

New Products

Product Extensions

Customer Journey / Barriers

Experience w/ Visit

Experience w/ customer service

Topics to research (market research)

Differentiation

Reducing barriers in the customer journey can create...

No

Many possible paths to purchase

Is the customer journey linear?

1. Defining the problem

2. Research objectives

3. Research questions

4. Determining the sample

5. Data collection (research methodology: qual or quant)

6. Data processing and analysis

7. Results - Final report

7 steps of the marketing research process:

A marketing technology stack

a grouping of technologies that marketers leverage to conduct and improve their marketing activities

make difficult processes easier

measure impact of marketing activities

drive more efficient spending

Focus of Martech is to:

Technology

Almost all aspects of current marketing involve some type of...

Content Management System (CMS)

Technology that powers a website, blog, or other relevant web properties where marketers want to engage their customers

Email

A key customer communications channel that all marketers need in their toolkit

Email Newsletters

an ongoing communication that can be used to send promotional messages, important account information, product updates, and more

email newsletters

transactional emails

behavioral emails

3 types of emails

transactional emails

type of email with Email receipts, invoices, billing statements, order confirmations, tracking notifications

Often try to encourage additional sales

Behavioral emails

types of emails that try to make the customer act in a way, either by taking a survey or leaving a review

A/B Testing

an experiment where two or more variants of a page are shown to users at random, and statistical analysis is used to determine which variation performs better for a given conversion goal

Personalization

Collecting, analyzing, and effectively using information about consumer demographics, interests, and behaviors to help create campaigns, content, and experiences that resonate with your target audience

Customer Relationship Management (CRM)

Email

a technology for managing all your company's relationships and interactions with customers and potential customers

What is a component of this?

Search Engine Optimization (SEO)

Drives organic traffic to your website by ranking higher in search engines

Incremental Innovation (ex. Charmin TP bears)

the most common form of innovation. It utilizes your existing technology and increases value to the customer (features, design changes, etc.) within your existing market

Disruptive (Stealth) Innovation

Involves applying new technology or processes to your company's current market

Architectural Innovation

simply taking the lessons, skills and overall technology and applying them within a different market

Radical Innovation

It gives birth to new industries (or swallows existing ones) and involves creating revolutionary technology

Dis-intermediation (ex. Expedia)

Innovation where a group of intermediaries are bypassed in a market, creating a more direct interaction between buyer and seller

A brief

a short 1-2-page document outlining the strategy for a creative project

The creative team

Who is the audience of a brief?

The positioning and the brief

What 2 things form the foundation for the agency to begin creative development?

The brief

what is the most important document between the Client and the Agency for a given campaign?

A creative brief

a document that informs the creative approach and delivery of new marketing or advertising campaigns

objectives

audience

messages

key deliverables

What is included in the creative brief?

1. Client Assignment Brief (Client --> Agency)

2. Agency Creative Brief (Agency --> Client)

What are the 2 types of briefs?

the strategic insight that lays the foundation for the creative platform

What is the key component of the Agency Creative Brief?

Holding Companies

What has many opinions on whether or not they are good for the industry?

1. Creative and Strategic

2. Media

3. Public Relations

4. Social

5. Identity

6. CRM

7. Direct Response

8. Brand Activation

9. Production

10. In-House

10 Agency Types:

Agencies that are "Integrated"

usually refers to agencies that offer creative and strategy for digital and traditional, as well as other specialized services

Creative and Strategic Agency (Ex. "I'm lovin it " - McDonalds)

Agency that develops the creative platform (big idea) and key messaging, tagline

Media Agency

Agency that is responsible for buying media that reaches the target as efficiently as possible

Public Relations Agency (Ex. Campaigns - Taco Bell Hotel)

Agency that generates media coverage for a brand

Social Agencies

Agency that translates brand messaging into social channels

Identity Agency (ex. name, logo, fonts, etc. --> Dunkin rebrand)

type of agency thats creates or updates a brand's "identity" system

CRM Agency

Agency that builds a relationship with the brand

Direct Response agency

Agency that involves Mail solicitations, email solicitation, direct response television, fundraising

Brand Activation Agency (ex. Crest toothpaste popup)

Agency that involves sweepstakes, Instant Win Games, Contests

Production Agency

companies that create the ads and content for another company

In-House

where agency personnel are employees of the marketer

Healthcare Agencies

Type of agency that is very specialized, highly regulated, and has disclaimers

Strategist Profile

someone who is curious about people and ideas, so they often studied psychology or sociology

The Agency Creative Brief for the Creative teams

What is the primary responsibility for the strategist?

Various experiences (Industry, Research, Consulting)

You need to have what to be a strategist?

the search for an insight

Strategy = what?

No, strategists need to embrace it and push it a new direction

Is research an insight?

Account Management Profile

Someone who is outgoing, organized, detail-oriented, understands client's business

Client Service (keep the client happy)

What is the key responsibility of the account executive?

Project Management Profile

Someone who has both technical and soft skills

Project Management Professional (PMP)

industry recognized credential for project managers

Planning and defining scope

What is the key responsibility of a project manager?

Approval times

What is the biggest variable in a project managers timeline?

Internal

External / Freelance

2 types of creatives:

Creative Profile

Someone who often has an artistic background in writing, film, painting, drawing, music, animation

Undergrad or graduate degrees in design, film, visual arts, literature, music

No, they used to be. Found it was better for both when they were seperate

Are media and creative together?

Paid, Owned, Earned

What does P-O-E stand for in the media landscape?

Media Planning

addresses all three circles of the media P-O-E, distribution of all brand content

Media Buying

addresses only the PAID circle in media P-O-E

Ad network

an aggregator that collects ad inventory from publishers and sells it to advertisers. It acts as an intermediary

Ad Exchange

a digital marketplace where advertisers and publishers purchase and sell ad inventory directly

Media Mix Optimization

an analytical process during which marketers evaluate the performance of various campaign components to determine which have the most positive impact driving their KPIs

• Account Management

• Project Management

• Creative (Writer, Designer, Videographer?)

• Strategic Planner

• Media Planner

• Media Buyer

Positions at ad agencies:

1. Consent

2. Data Breach Notification

3. Data Subject's rights

What are the 3 privacy laws: