WIXLIB

The Core Marketing FunctionsThere are 7 primary functions within marketing. Allare part of the goal of satisfying customer needswhile earning a profit. Product/Service ManagementMarketing Information ManagementMarket PlanningPromotionPricingSellingChannel ManagementProductCustomer

Promotion/AdvertisingTelevision changed how promotion was delivered to customers and isthe media we most often associate with Product Advertising.The internet is increasingly prominentWhat are the other kinds of media where advertising is often placed?

2015 U.S. Advertising Spending by Media Type

Marketing Spend by Type 2010 vs. 2017Chart irectories

Promotion/Advertising VocabularyPromotion – Decisions related to advertising, personal selling, salespromotion and publicity used to attract customersPersonal Selling – promotion which features direct contact betweencustomer and salespersonNon-Personal Selling/Promotion – Other promotion which is morebroad and not direct to a specific individualPromotional Mix – A combination of promotion strategies and costeffective allocation of marketing resources

Marketing Promotion/AdvertisingWhat are the reasons that companies would advertise and promotetheir product?To PersuadeTo InformTo Enhance ReputationTo Say What’s wrong with a competitorTo InspireIt can be product or company specific

Marketing Promotion/AdvertisingPromotion has 5 fairly distinct types1. Personal Selling – sales representativeNon-personal2. Advertising3. Direct Marketing (the internet enables this to be both personal andnon-personal4. Sales Promotion – pretty much anything not covered above5. Public Relations – Image management (product or company)

Promotion/AdvertisingAdvertisers don’t have limitless resourcesA business needs to consider how much to spend on promoting itsbrand and its products.What things would you think about if you were launching a newproduct and had to decide how much to spend on promotion?

Promotion/AdvertisingMarketers will consider:- Total amount of budget available to invest- cost vs. effectiveness- Promotional Mix considers the optimal mix of the 5 types ofpromotion

Promotion/Advertising – Effectiveness vs. Cost

Promotion/Advertising VocabularyPush vs. Pull Promotion:Push Promotion is directed at channel partners who are encouraged tosell the product to customersPull Promotion is directed at consumersTrade Promotion – Promotion designed to enlist the support ofmanufacturers, wholesalers and retailersCustomer Promotion – Promotion designed to encourage customers orpotential customers to buy products or service

Visual Merchandising – Chapter 18Visual Merchandising – what do you think thisconcept means for marketing?All the physical elements a merchandiser uses toproject the image of the productThink store layout, lighting, customer service,displays, color, signs, store location, etc.

Visual Merchandizing for your ProductAnswer the following as a team;1. Is your product displayed and/or sold in a physical store? If yes,describe the attributes of that store, including special featuresthat might promote the image of the product – Think aboutdisplays, store layout, specific colors used, how customers areserved, signage, location of the store, etc.(The Uber team can try to do Uber or select another product for thisactivity.)2. Explain how what you described above might make the productmore appealing, create a specific image with the customer or serve aspart of how the product functions

Marketing Promotion/AdvertisingPromotion has 5 fairly distinct types1. Personal Selling – sales representativeNon-personal2. Advertising3. Direct Marketing (the internet enables this to be both personal andnon-personal4. Sales Promotion – pretty much anything not covered above5. Public Relations – Image management (product or company)

Project Advertising Spend 2015 - 2021

Top 10 Advertisers of 2014 (in the U.S.)Which type of companies would you expect to appear on this list?10. Disney- 2.1B (Frozen)9. L’Oreal- 2.2 B8. Fiat Chrysler- 2.2 B (Fiat 500; Sean “Diddy” Combs Ad)7. American Express- 2.4 B (Tina Fey, New card introduction)6. Ford Motor- 2.5 B (Super Bowl)5. Verizon- 2.5 B (New plan introduction)4. Comcast- 3.0 B (Customer Service Improvements)3. General Motors- 3.1 B2. AT & T- 3.3 B (Network Improvements)1. Proctor & Gamble- 4.6 B (Cutting 500M; Switch to Online)

AdvertisingWhat are some common things you see from the Top10 list?- Huge companies – big sales/big advertising spend- Competitive industries- New Product introductions/Celebrity roll out- Important message to customers – fixing problemsAnother data point Pharmaceutical companies spend as muchon advertising as they do on research and development

AdvertisingVocabulary for Chapter 19/20 on Advertising:Promotional Advertising – Consumer or business-to-businessadvertising to encourage the purchase or use of a product. Ultimategoal is to increase salesMedia – The means or instruments through which advertising isconveyed

AdvertisingWhat are the four main categories of media?PrintBroadcastOnlineSpecialty

Advertising – Print MediaWhat are primary places you would expect tosee Print Media?NewspapersMagazinesDirect MailOutdoor (Billboard & Transit)Directory

Advertising – Print MediaComponents of a Print Ad:- Headline attracts readers attention- Copy the selling message- Illustrations photo, drawing or graphic, integrates with the headlineand copy- Signature distinctive identification with the business, may include aslogan- Color, Font make the advertising stand out or appeal to the reader

Advertising – Print MediaLet’s work on a sample ad together to practice the vocabulary and seewhat we can find about the messagingDirect Mail Piece from Dr. Shah for ?Color?

Print AdExample#1

Print AdExample#2

Advertising – Print MediaPrint Media ExerciseDone with a partner – someone not from your project groupWe will focus on analyzing Newspaper, Magazine and DirectMail examples of AdvertisingSelect a print ad from the material available

AdvertisingWhat are the four main categories of media?PrintBroadcastOnlineSpecialty

Advertising – Print MediaWhat are the 3 primary places you wouldexpect to see/hear Broadcast Media?TelevisionRadioStreaming Video (Difficult to differentiatestreaming as broadcast or online – but workslike broadcast mobility)

Advertising – Broadcast MediaTelevision is the most used advertising in terms of spentTelevision gives the best sensory experience for the viewer:Pros: HD clarity, sound, ability to show actionCons: May need to see the ad multiple times to get full message(Subliminal Advertising @ the movies; Product placement)We can analyze Broadcast Media in much the same way we did PrintHow should we think about Demographics/Target Market for TV ads?

Advertising - Broadcast MediaHow will the analysis of a TV ad be differentthan print?- Not static- Spoken word & perhaps some written- Varying length (up to 30 minute infomercials)

Advertising – Broadcast MediaHow will the analysis be the same?- Tied to a specific broadcast (viewer demographic/targetmarket)- Headline attention grabbing feature (Usually?)- Copy the selling message- Illustrations People & setting photos, drawings orgraphics; integrates with the headline and copy – endlesspossibilities- Signature distinctive identification with the business, mayinclude a slogan or tagline- Color, Font have advertising stand out or appeal to viewer

Advertising –Broadcast MediaE-Trade Baby (debuted on the SuperBowl)https://www.bing.com/videos/search?q Tv commercials for etrade baby&view detail&mid 6A90A7D42E98ED059C126A90A7D42E98ED059C12&FORM VIREDemographic/Target Market:Shown during the Super Bowl?Shown during a golf tournament broadcast?CopyWhat does he say/what’s the message?What about the voiceover at the end?

Advertising – Broadcast MediaIllustrations:What’s unique about the people, setting, images etc.?How are the graphics and words at the end used?Signature:Any noticeable tagline, logo, etc.?Bonus Baby Commercialhttps://www.bing.com/videos/search?q Tv commercials for etrade baby&&view detail&mid DEF89012623C78D2A0EBDEF89012623C78D2A0EB&rvsmid 6A90A7D42E98ED059C126A90A7D42E98ED059C12&FORM VDQVAP

Broadcast Advertising – Commercial Analysis (adlinks and worksheet posted to Edline Assignments)1. Proctor & Gamble Olympics Commercialhttps://www.bing.com/videos/search?q proctor and gamble commercials&&view detail&mid E53E3A3B5595EC14B6F5E53E3A3B5595EC14B6F5&&FORM VRDGAR2. Pharmaceutical Product – Celebrexhttps://www.bing.com/videos/search?q celebrex commercials&&view detail&mid 44C9225EE7FB5DA4DF6F44C9225EE7FB5DA4DF6F&&FORM VRDGAR3. Geico Insurancehttps://www.bing.com/videos/search?q geico commercials 2019&view detail&mid 6E01FD5E017DA62B04596E01FD5E017DA62B0459&FORM VIRE4. Nike Brand - Crazierhttps://www.bing.com/videos/search?q nike commercials 2019&view detail&mid 2A3A09682669307D763B2A3A09682669307D763B&FORM VIRE

Advertising Additional VocabularyMedia Planning – The process of selecting which advertising media touse and the time and space in which it should appearCost per Thousand (CPM) – the media cost of exposing 1,000 readersor viewers to an advertising impressionAdvertising CampaignAdvertising Agency

Shark Tank on Market ResearchShark Tank – The Koolerhttps://www.youtube.com/watch?v 4qTPaZV84LM&list PLUVRD8yY4HqmVMJAwy9eoXiBu6nzI CcD&index 22 Presentations from this EpisodeComplete the worksheet for Presentations #1

Promotion/Advertising Television changed how promotion was delivered to customers and is . part of how the product functions. Marketing Promotion/Advertising Promotion has 5 fairly distinct types 1. Personal Selling -sales representative Non-personal 2. Advertising 3. Direct Marketing (the internet enables this to be both personal and