MARK3000 Test 3

4 Steps in AIDA Model

awareness → interest, → desire, → action

what are the 3 types of consumer reactions to the AIDA model?

think, feel and do

brand awareness

measure how many consumers in a market are familiar with the brand and what it stands for; created through repeated exposures of the various brand elements (see test 2) in the firm’s communications to customers

aided recall

an awareness metric that occurs when consumers recognize a name (e.g. of a brand that has been presented to them)

top-of-mind awareness

a prominent place in people’s memories that triggers a response without them having to put any thought into it

lagged effect

a delayed response to a marketing communications campaign / when advertising does not have an immediate effect, and multiple exposures is necessary, & it’s difficult to figure out which exposure led to purchase

awareness - AIDA

phase where you gain the attention of the consumer about a product/service through brand awareness; a multichannel approach increases the likelihood the message will be received

interest - AIDA

phase where communication must work to increase the consumer’s interest level in the product & persuade them; customer must want to further investigate the product/service

desire - AIDA

phase where the goal transitions to “i like it” to “i want it”;

action - AIDA

phase where the marketing communications drive the consumer to action, to take the product/service (through purchase, scanning a qr code, etc)

channels of an imc strategy

grid of interactive, online, offline, and passive

advertising

* a __paid__ form of communication delivered through media from an identifiable source about an organization, product, service, or idea designed to persuade the receiver to take some action now or in the future
* most visible element of IMC
* extremely effective at creating awareness and generating interest

public relations (PR)

* organizational function that manages the firm’s communications to achieve a variety of objectives, including building and maintaining a positive image, handling/heading off unfavorable stories or events, and maintaining positive relationships w/ the media
* “free” media attention
* importance has grown as costs of other media has increased
* consumers becoming more skeptical about marketing, PR becoming more important

sales promotions

* special incentives or excitement-building programs that encourage the purchase of a product or service such as coupons, rebates, contests, free sample, and point-of-purchase displays
* can be aimed at both end user consumers or channel members
* used in conjunction with other forms of IMC
* can be used for both short & long term objectives

personal selling

* the two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision
* some products require the help of a salesperson
* __more expensive__ than other forms of promotion
* salespeople can add significant value, which makes the expense worth it

direct marketing

* sales and promotional techniques that communicate directly with target customers to generate a response or transaction

mobile marketing

* marketing through wireless handheld devices such as smartphones or tablets

blog (weblog)

* an online diary with periodic posts that allows people to share their thoughts, opinions, and feelings with the entire world; corporate blogs are a new form of marketing communications

social media

* the online and mobile technologies that distribute content to facilitate interpersonal interactions with the assistance of various firms that offer platforms, services, and tools to help consumers and firms build their connections

objective-and-task method

an IMC budgeting method that determines the cost required to undertake specific tasks to accomplish communication objectives; process entails setting objectives, choosing media, and determining costs

rule-of-thumb methods

budgeting methods that base the IMC budget on either the firm’s share of the market in relation to the competition, a fixed % of forecasted sales, or what is left after other operating costs and forecasted sales have been budgeted

traditional media

frequency, reach, gross rating points (GRP)

frequency

measure of how often the audience is exposed to a communication within a specified period of time

reach

measure of consumer's’ exposure to marketing communications; the % of the target population exposed to a specific marketing communication, such as an advertisement, at least once

web-tracking software

software used to asses how much time viewers spend on particular web pages and the number of pages they view

social shopping

using the internet to communicate about product preferences with other shoppers

search engine marketing (SEM)

an activity used in online searches to increase the visibility of a firm by using paid searches to appear higher up in search results

impressions

\# of times an advertisement appears in front of the user

click-through rate (CTR)

\# of times a user clicks on an online ad / # of impressions

relevance

for SEM, it is a metric used to determine how useful an advertisement is to the consumer

return on marketing investment (ROMI)

amount of profit / value of investment

ROI = (sales rev generated by ad - ad’s cost) / ad’s cost

happy soul sisters - about us

* founded in march 2020
* saw tie dye was a huge trend and made tie dye lounge sets for fun since quarantine happened
* they sold on insta in the beginning and woke up with 500 orders the next days
* launched website in july 2020 with over 400 products

happy soul sisters - target market

* 15-35 yr old girls and women anywhere in the world
* those who are interested in cute and comfy clothes who enjoy online shopping
* built the business plan ground up w/ no experience
* instagram following growing rapidly = increased growing sales

happy soul sisters - built from a trend

* had no intention of making a whole business from tie dye clothing
* built the tie dye since it was a trend during 2020
* communicate with customers to see what products they are the most interested in
* discussion q 1: do you guys think that building from a trend has helped us grow the way we have? -- duh, of course.

happy soul sisters - influencer marketing

* libby christensen - gymshark athlete & instagram influencer
* promoted the clothes for free on her youtube to her 20k subscribers
* featured them in youtube videos and talked about them in several videos

happy soul sisters - social media outlooks

* put major focus on social media (insta, tik tok) as it had a huge impact on the company as a whole
* increased sales heavily and brought more customers to our website
* tiktok video went viral in oct 2022 that had 5.7 million views, went from 60k → 80k in a day
* even jojo siwa ordered wowowow

happy soul sisters - direct marketing

* email marketing: customers subscribe and sent 3-5 emails a week, keeps customers in touch on new drops and sales
* sms club: have over 15k ppl subscribed to text club - sends 2-3 texts a week; send customers who left an abandoned cart, post purchase, low in stock, back in stock, etc.
* having this platform for past 6 months increased revenue by 40%

happy soul sisters - app + analytics

* over 50% of sales come from the app
* they are a good fit for an app as it fits the target market
* 91% retention rate

happy soul sisters - influence tiktok campaigns

* goal: convert new customers, sales, & followers to their page - all influencers were asked to share their package with their followers
* what they did: reached out to 20 well known tiktokers and sent them all a package with a tie dye lounge set; within a week of them getting the package, the influencer posted a tiktok showing the package
* results: increased sales, increased followers by 15k

happy souls sisters - tiktok live

* started going live march 2022 → would pack orders live for 30 minutes to an hour a day
* now → go live 2-3 hours a day; they pack while interacting with customers and show sneak peaks of new drops
* every live has an order goal and they do giveaways and free gifts if customers order during the live
* result: doubling in sales and orders per month mostly due to appearance on tik tok live

happy soul sisters - sms connection w/ customers

* before purchase → customers can join text club and get 15% off their first order; they’ll receive the weekly campaign text messages which allows them to have a ton of traffic to their site
* abandoned checkout → if customer leaves behind their cart, they will get a text 6 hours after abandoned cart to remind them to purchase
* post purchase →

happy soul sisters - reviews & chatfeatures

* customers leave real reviews and post pictures of them wearing the clothes
* you can chat with them (24/7) and leave a question, track order, or leave a recommendation

happy soul sisters - finding product to sell

* focus on what do people want to see
* trips to california 1 or 2x a year to look at different vendors
* have 5 vendors that they can rely on

Step 1: Designing & Executing Advertising Campaign

1) Identify Target Audience

Step 2: Designing & Executing Advertising Campaign

2) Set Advertising Objectives

advertising plan

subsection of firm’s overall marketing plan that explicitly analyzes marketing & advertising situation, identifies objectives, clarifies specific strategy for achieving said objectives, and indicates how the firm can determine whether the campaign was successful

pull strategy

goal is to get __consumers__ to pull the product through the marketing channel by demanding it

push strategy

goal is to increase demand by motivating __sellers__ -- wholesalers, distributors, or salespeople -- to highlight the product rather than the products of competitors, and thereby push the product onto consumers

informative advertsing

communication used to create and build brand awareness w/ ultimate goal of moving the consumer through the buying cycle to a purchase

persuasive advertising

communication used to motivate consumers to take action

reminder advertising

communication used to remind consumers of a product / prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle

product-focused advertisements

ads used to inform, persuade, or remind consumers about a specific product or service

institutional advertisment

type of advertising that promotes a company, corporation, business, institution, or organization. unlike product-focused ads, it is __not__ intended to sell a particular product or service

public service advertising (PSA)

ads that focus on public welfare and are generally sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups; a form of __social marketing__

social marketing

the content distributed through online and mobile technologies to facilitate interpersonal interactions

Step 3: Designing & Executing Advertising Campaign

3) Determine the Advertising Budget

Step 4: Designing & Executing Advertising Campaign

4) Convey the Message

unique selling proposition (USP)

a strategy of differentiating a product by communicating its unique attributes; often becomes the common theme or slogan in the entire ad campaign

informational appeal

used in promotions to help consumers make purchase decisions by offering factual info and strong arguments built around relevant issues that encourage them to evaluate the brand favorably on the basis of the key benefits it provides

emotional appeal

appeal that aims to satisfy consumers’ emotional desires rather than their utilitarian needs

media planning

process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience

media mix

combination of the media used and the frequency of advertising in each medium

media buy

actual purchase of airtime or print pages

mass media

channels that are ideal for reaching large numbers of anonymous audience members; include national newspapers, magazines, radio, and tv

niche media

channels that are focused and generally used to reach narrow segments, often w/ unique demographic characteristics or interests

Step 5: Designing & Executing Advertising Campaign

5) Evaluate & Select Media

advertising schedule

specification of the timing and duration of advertising

continuous (ad) schedule

an ad schedule that runs steadily throughout the year and therefore is suited to products and services that are consumed continually at relevant steady rates and that require a steady level of persuasive or reminder advertising

flighting (ad schedule)

an ad schedule implemented in spurts w/ periods of heavy advertising followed by periods of no advertising

pulsing (ad schedule)

an ad schedule that combines the continuous and flighting schedules by maintaining a base level of advertising but increasing ad intensity during certain periods

headline

in an ad, large type designed to draw attention

subhead

an additional smaller headline in an ad that provides a great deal of info through the use of short and simple words

body copy

the main text portion of an ad

Step 6: Designing & Executing Advertising Campaign

6) Create Advertisements

brand elements

characteristics that identify the sponsor of a specific ad

Step 7: Designing & Executing Advertising Campaign

7) Assess Impact Using Marketing Metrics

pretesting

assessments performed before an ad campaign is implemented to ensure that the various elements are working in an integrated fashion and doing what they are intended to do

tracking

assessments that monitor key indicators, such as daily/weekly sales volume, while the ad is running to shed light on any problems w/ the message or the medium

posttesting

evaluation of an IMC campaign’s impact after it has been implemented

lift

additional sales caused by advertising

Federal Trade Commission (FTC)(1914)

* General Purpose: enforces federal consumer protection laws
* Specific Jurisdiction: enforces truth in advertising laws, defines deceptive and unfair ad practices

Federal Communications Commission (FCC)(1934)

* General Purpose: regulates interstate & international communications by radio, tv, wire, satellite, and cable
* Specific Jurisdiction: enforces restrictions on broadcasting material that promotes lotteries, cigarettes, cigars, or smokeless tobacco products, or that perpetuates a fraud. also enforces laws that prohibit or limit obscene, indecent, or profane language

Food & Drug Administration (FDA)(1930)

* General Purpose: regulates food, supplements, drugs, cosmetics, medical devices, biologies, and blood products
* Specific Jurisdiction: regulates package labelling & inserts, definition of terms such as “light” & “organic”, and required disclosure statements (warning labels, dosage requirements, etc)

US Postal Service (USPS)(1971)

* General Purpose: delivers mail and packages
* Specific Jurisdiction: regulates advertising that uses the mail and that involves fraud, obscenity, or lotteries

Bureau of Alcohol, Tobacco, Firearms, & Explosives (ATF)(1972)

* General Purpose: regulates manufacturing & sales of alcohol, tobacco, firearms, and explosives
* Specific Jurisdiction: regulates ads for alcohol, including warning labels, and determines what constitutes false or misleading advertising

puffery

legal exaggeration of praise, stopping just short of deception, lavished on a product

cause-related marketing

commercial activity where businesses and charities form a partnership to market an image, a product, or a service for their mutual benefit; a type of promotional campaign

PR Element: publications, brochures, special-purpose single-issue publications such as books

Function: inform various constituencies about the activities of the organization and highlight specific areas of expertise

PR Element: Video and audio, programs, public service announcements

Function: highlight the organization or support cause-related marketing efforts

PR Element: Annual reports

Function: Give required financial performance data and inform investors and others about the unique activities of the organization

PR Element: media relations, press kits, news releases, speeches, event sponsorships

Function: generate news coverage of the organizations activities or products/services

PR Element: Electronic media, websites, email campaigns, social media

Function: websites can contain all the previously mentioned tool box elements, email directs PR efforts to specific target groups, manage reputation by responding directly to customers, competition, and influencers

event sponsorship

popular PR tool that occurs when corporations support various activities (financially or otherwise) usually in the culturala or sports and entertainment sectors

sales promotions

special incentives or excitement building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays

coupon

provides a stated discount to consumers on the final selling price of a specific item; the retailer handles the discount

deal

a type of short-term price reduction that can take several forms, such as a “featured price”, a price lower than the regular price; “buy 1 get 1 free” offer, or a certain percentage “more free” offer contained in larger packaging, can involve aa special financing arrangement, such as reduced percentage interest rates or extended repayment terms

premium

an item offered for free or at a bargain price to reward some type of behavior, such as buying, sampling, or testing

contest

a brand-sponsored competition that requires some form of skill or effort

sweepstakes

a form of sales promotion that offers prizes based on a chance drawing of entrants’ names

sampling

offers potential customers the opportunity to try a product or service before they make a buying decision