Advertising’s Role in Marketing Part 1: Foundations Chapter 2.
24
Advertising’s Role in Marketing Part 1: Foundations Chapter 2
-
Upload
toby-carroll -
Category
Documents
-
view
213 -
download
0
Transcript of Advertising’s Role in Marketing Part 1: Foundations Chapter 2.
Advertising’s Role in Marketing
Part 1: FoundationsChapter 2
2
Key Points Define the role of advertising within marketing Explain how the four key concepts in marketing
relate to advertising Identify the key players in marketing and how
the organization of the industry affects advertising
List and explain the six critical steps in the marketing process
Summarize the structure of the advertising agency industry
Analyze the changes in the marketing world and what they portend for advertising
3
What is Marketing?
The way a product is designed, tested, produced, branded, packaged, priced, distributed, and promoted
4
Key Concepts in Marketing
The marketing concept
Exchange Branding Added value
Marketing should focus first on identifying the needs and wants of the customer
To compete effectively, marketers must focus on the customers’ problems and try to develop products to solve them
5
Key Concepts in Marketing
The marketing concept
Exchange Branding Added value
The act of trading a desired product or service to receive something of value in return
Money is exchanged for goods or services
6
Key Concepts in Marketing
The marketing concept
Exchange Branding Added value
The process of creating a distinctive and special meaning for a product
Brand equity is reputation, meaning, and value that the brand name or symbol has acquired over time
7
Key Concepts in Marketing
The marketing concept
Exchange Branding Added value
A marketing or advertising activity makes a product more valuable, useful, or appealing
8
The Key Players and Markets
The marketer
Suppliers and vendors
Distributors and retailers
The organization, company, or manufacturer producing the product and offering it for sale
The advertiser or client (from the agency’s point of view)
9
The Key Players and Markets
The marketer
Suppliers and vendors
Distributors and retailers
Other companies that manufacture the materials and ingredients used in producing the product
10
The Key Players and Markets
The marketer
Suppliers and vendors
Distributors and retailers
Various companies that are involved in moving a product from its manufacturer to the buyer
11
Types of Markets Market
Where the exchange between buyer and seller takes place
A particular type of buyer
Market share The percentage of the
total market in a product category that buys a particular brand
ConsumerBusiness-
to-business
Institutional Channel
12
The Marketing Process
1. Conduct research and develop a situation analysis
2. Set objectives for the marketing effort3. Assess consumer needs and wants4. Differentiate and position the product5. Develop the marketing mix strategy6. Evaluate the effectiveness of the strategy
13
Marketing Mix Strategies
Product Place Price Promotion
The product is both the object of the advertising and the reason for marketing
Product category A class of similar
products
14
Marketing Mix Strategies
Product Place Price Promotion
The channels used in moving the product from manufacturer to buyer
15
Marketing Mix Strategies
Product Place Price Promotion
Based on the cost of making and marketing the product and on expected profit Customary Psychological
16
Marketing Mix Strategies
Product Place Price Promotion
Use face-to-face contact between marketer and prospective customer
Used to create immediate sales
17
Question to Ponder
Which element of the marketing mix does advertising and IMC have the most impact on?
18
How Agencies WorkFull-Service Agencies
Include the four major staff functions Account management Creative services Media planning and
buying Account planning
Also have accounting, traffic, production, and HR departments
Specialized Agencies Specialize in certain
functions, audiences, industries or markets Creative boutique Media-buying
services
19
How Agencies Work
Account Management
Acts as a liaison between the client and the agency
Responsible for interpreting the client’s marketing strategy
Creative Development
People who write People who design
ideas for ads and commercials
People who convert these ideas into commercials
20
How Agencies Work
Media Planning/Buying
Recommends to the client the most efficient means of delivering the message
Responsible for buying, planning, and research
Account Planning Gathers all
information on the market and consumers and acts as the voice of the consumer
Prepares comprehensive recommendations
21
How Agencies Work
Internal Agency Services
Traffic department Print production
department
Revenues and Profits
Commission Fee Retainer
22
Strawberry Frog
23
International Marketing An international brand is available virtually
anywhere in the world The shift requires new tools for advertisers,
including one language, one control mechanism, and one strategic plan
The choice of an agency depends on the decision to standardize messages or localize them to accommodate local cultures
24
The Dynamics of Modern Marketing
Integrated marketing All areas of the marketing mix work closely
together to present the brand in a coherent and consistent way
Relationship marketing Marketing that considers all the firm’s
stakeholders Permission marketing
Inviting prospective customers to self-select into a brand’s target market in order to receive marketing communication
