Advertising

What is advertising?

A visual or audio form of communication that uses an openly sponsored message to promote a product, service or idea

What are the four components of advertising?

Strategy, message, media, evaluation

What is the definition of a brand?

Person’s perception of a product’s features and benefits, personality and position in the market. transforms a product into something more meaningful than the product itself

What did early ads talk about?

Features not benefits and there was no entertainment value

Who was Bill Bernbach?

Copywriter who understood that ads could both entertain and convey a strategy

Who were Trout and Ries?

Developed positioning strategy: must win over the mind of consumer by developing a brand image. Positioning requires that you understand what’s already in the consumer’s mind regarding the competition.

What is account planning?

The discipline that brings the voice of the consumer into the process of developing advertising.

What was the original marketing mix?

Product, price, place, promotion

What is the new marketing mix?

Consumer, cost, convenience and communications

What is integrated marketing communications (IMC)?

Coordinating all brand communications and the messages from the marketing mix.

What are brand communications?

A a cohesive effort to deliver specific message that positively influence a prospect’s opinion of a product, service or idea.

How does a brand achieve meaning?

Identity, promise, personality.

What is brand equity?

The financial value of a brand, putting the success of a brand into financial terms

What is cause marketing?

When a company’s mission goes beyond profit

A primary reason that cause marketing has grown substantially is that:

millennials and gen z are particularly aware of corporate behavior

What is conflict?

The essence of story

What was the result of the “1984” Apple TV commercial?

The initial goal of 50,000 unites was surpassed bu the 72,000 unites sold

What is puffery?

A headline with subjective opinions that cannot be proven or disproven

What is margin of error?

Margin of error is a percentage that tells you how much you can expect your survey results to reflect the views of actual population

What is confidence level?

A percentage that reveals how confident you can be that the population would select an answer within a certain range.

If you increase confidence level and decrease margin of error what happens to sample size?

As the margin of error decreases, the sample size increases

Qualitative Research

Research that provides insights into consumer motivations – to discover why consumers think, feel and act the way they do.

Quantitative Research

Research that delivers numerical data based on large sample size and random sampling

Secondary Research

Research that uses available published information about a topic. For example, research that is published on the internet is secondary. It already exists.

Primary Research

Original research conducted for the first time. Customized to suit specific goals

Cannibalism

When company’s new brand takes sales away from existing brand

Targeting

Determining which segments to promote to with advertising, public relations, sales promotions, packaging, point-of-purchase. Based on best financial return, ROI.

Audience Size

The market must be large enough to justify advertising. If the market is too small, it won’t provide a ROI

Difference

Measurable differences must exist between segments

Media

Segment must be reachable by specific media

Segmentation

Identifying meaningfully different groups of customers. 6 ways marketers segment the market.

Greenwashing

The act or practice of making a brand or company appear more environmentally friendly than it really it.

What is creativity?

Finding relationships between seemingly unrelated phenomena.

Perception

see, hear, notice

Cognition

understand

Emotion

a feeling created

Association

make positive connection

Persuasion

believe in message

Behavior

act, buy a product

What is intellectual property?

a work or invention that is the result of creativity, such as a song or writing or a design, to which one has rights and for which one may apply for a patent, copyright, or trademark

Lanham Act 1947

Protects trademarks (themelines and brand names) from infringement by competition and protects consumer against false advertising

FTC Federal Trade Commission

Power to investigate and issue cease and desist orders for unfair competition claims

FDA Food and Drug Administration

Oversees advertising related tofood and drugs

FCC Federal Communications Commission

Monitors advertising broadcast by radio and television stations