Exam 1 Study Guide

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Exam 1 Study Guide

Advertsing, Marketing, and Targeting strategies

Study Guide
Washington State University
Comstrat 380 - (ADVER) Advertising Principles and Practices

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Comstrat380 1nd Edition Exam # 1 Study Guide Lectures: 1 - 7 Lecture 1 (January 22nd) I. Defining modern advertising included six basic attributed of advertising a. Paid communication b. Sponsor is identified c. Can be one-way, two-way, multiple-way d. Reaches a broad audience e. Conveyed through mass media, interactive media, word of mouth f. Seeks to inform or persuade II. Publicity, public relations, direct-response, specialties- together, these tools are known as marketing communication, or marcom III. Advertising: a. Economic and societal roles i. It works to create demand for brands and lower prices for consumers ii. It shapes our self-image and sense of style through things we wear and use b. Advertising generates costs efficiencies by increasing demand among large groups of people, resulting in higher levels of sales and ultimately, lower prices c. Demands creative, original messages d. Must be strategically sound, well executed e. Is delivered through some form of media f. Is developed as singe ads or campaigns IV. Types of Advertising a. Brand advertising b. Focused on long-term brand identity and image c. Retail or local advertising d. Focused on selling merchandise in a geographical area e. Direct-response advertising f. Tries to simulate an immediate consumer response g. Business-to-business advertising h. Sent from one business to another i. Institutional advertising j. Establishes a corporate identity, attempts to win the public over to the organization’s point of view k. Nonprofit advertising l. Used by not-for-profit organizations to reach customers, members, volunteers, and donors m. Public service advertising n. Usually produced and run for free on behalf of a good cause Lecture 2 (January 24th) Marketing: The way a product is designed, tested, produced, branded, priced and distributed I. Marketing also focuses on managing customer relationships to benefit all of a brand’s stakeholders II. The objective of most marketing programs has been to sell product, goods, services, or ideas. This is done by matching a products availability to the consumer’s needs desires or demands Product category: The classification to which the product is assigned I. Marketing managers manipulate the marketing mix, also called the four P’s a. Product - consumer b. Price - cost c. Place - convenience d. Promotion – communication II. Marketing Mix: a. The product (consumer) i. Design, performance, and quality and key elements ii. Communication works to build awareness of a brand b. Pricing (cost) i. It is based on: 1. What the market will bear 2. The competition 3. What the consumer can afford 4. The relative value of the product 5. The consumer’s ability to gauge that value c. Place (convenience) i. It included the channels used to make the product easily accessible to customers ii. The distribution channel also sends a message iii. The internet raised new distribution questions related to “clicks or bricks” iv. Marketers may use a “push” or “pull” strategy d. Promotion (marketing communication) i. This includes 1. Advertising 2. Public relations 3. Sales promotions 4. Direct response 5. Events and sponsorships 6. Point of sale a. ...

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