MKTG 350 1st Edition Lecture 21 Chapter 19 continuedDetermine the advertising schedule- Continuous- advertise consecutively each of the 4 quarters - Pulsing- advertise more certain times of the year – jewelry store advertises more aroundholidays – valentines, mothers day, Christmas - Flighting- like an airplane sometimes dead, seasonal, hats (all or nothing) Ads- - The type of medium determines execution style- Creativity plays a major role in the execution stage- Creativity should not overshadow Assess impact using marketing metrics- Pretesting- Tracking- Postesting Federal trade commission- for consumer protection- products are safe and companies are not deceiving the customer FDA- regulates food and drugs FCC- rules the airways – television is appropriate- not saying anything inappropriate Puffery- acceptable level of exaggeration (if average customer believes it or doesn’t) Public relations- Brochure- inform various constituencies about the activities of the organization and highlight specific areas of expertise- Video and audio- highlight organization or support cause- related marketing efforts - Annual reports- give required financial performance data and inform investors and others about the unique activities of the organizations- Media relations- generate news coverage of the organization’s activities of products- Electronic media- website can contain all of the previously mentioned toolbox elements while e-mail directs PR efforts to specific target groups. Sales promotions- short-term incentive to purchase Purposes1. Increase trial These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.2. Increase inventory and consumption- buy on get one- once you open you eat it quickly and increase consumption because you are aware that you have more 3. Encourage repurchase- 4. Neutralizes competitive promotions 5. Stimulate impulse purchases 6. Increase sales of complementary products – new razors (buy shaving cream) 7. Allow for price flexibility - Coupons-stimulates demand, but costs a lot and low redemption rate- Deals- encourages trial, reduces customer risk, but may reduce perception of value- Premiums- builds good will, reduces customer risk, but they buy for premium and not product, must be carefully managed- Contests- increases consumer involvement, generates e excitement, but requires creativity and must me monitored- Sweepstakes- increases involvement with product, but sales decline once its over- Samples- encourages trial, offers direct involvement, but expensive- Loyalty programs – creates loyalty, encourages repurchase, but has high cost- Pop displays- high visibility, encourages brand trial, but difficult to get good location and can be expensive- Rebates- stimulates demand, increases value perception, but is easily copied and may just advance future sales- Product placement – displays products nontraditionally, determines product uses, but little control over displays, and products can be over shadowed Cross promotion- two different products that help promote each other Chapter 3 – social and mobile marketing 4E framework 1. Excitea. Offer must be relevant to its targeted customer- i. Radian 6- enables you to see what your customers think about thecompany ii. Discounts b. Relevant can be achieved by providing personalized offers 2. Educatea. Golden opportunity: products value proposition and offered benefits b. What it is and what to do next- feel compelled to action c. Blogs/ micro blog, twitter 3. Experiencea. Information about a firm’s goods and servicesb. Simulating real experiences- watch a how to video, etc. 4. Engagea. Action, loyalityb. 20-40% more than the average customerSocial media- content that is distributed through online and mobile technologies to facilitate interpersonal interactions Social network sites- Creators- social media user, share creative ideas- make YouTube videos - Bonders- social butterflies, on all the time, want to interact with people - Professionals – busy people on social media because they want people to know that hey are important - Sharers – on social media because they feel like it is their obligation to help others- doctor sees a rash and tells the person what it is (share what they know with other people) Media sharing sites- highlight how consumers can experience, encourages consumers to engageThought sharing sites – thoughts without the pictures involves Blogs - Corporate – run and owned by the company, only goes out with someone’s approval used for PR purposes - Professional- sponsored are involved, advertisements – free products to review and share thoughts, can say what she wants - Personal – moms that do their own things, more of a social thing Micro blogs- share small thought 130 characters Going mobile and social – - Price check apps- Location apps- Fashion apps Analyzing- Hits- request for web back - Bounce rate- how long you stay on website- Page views- Click paths - Conversion rates- number of people that do what you want them to – click on the website - Keyword analysisSocial reach