ADV3008 Principles of Advertising Exam 1 Study Guide Everything You Need to Know to Get Started The Advertising World The Marketing Concept 4 P s A business philosophy where the organization determines the needs of the target market and satisfies those needs at a profit Marketing Mix These 4 elements comprise of a marketing concept Product the bundle of attributes the consumer receives in a transaction o What you get jeans car service insurance doctor s appointment Price what the consumer must give up in order to receive the product o What you give up money time Place all issues related to the system of distribution o Everything from point of manufacturer to point of sale Promotion all methods used to inform and persuade the target market about products that are available at some price and in some place Decisions about product price and place precede those pertaining to promotion Resource allocation across the elements must achieve a balance between product development and promotion Promotions Mix A model of communication alternatives Media vs personal communication Paid vs free communication o o Paid provides control Free provides credibility Different companies use differing levels of each part of mix 1 ADV3008 Principles of Advertising Exam 1 Study Guide Advertising Advantages of Paid Mass Media o o Control of message delivery of message timing of delivery of message Low cost to reach each person Disadvantages of Paid Mass Media o High absolute cost Low credibility o In many instances absence of rapid feedback o Public Relations Develops understanding and good will Publicity media time and space that the organization doesn t pay for Personal Selling Sales personnel representing the organization that is in direct communication with potential consumers Social Media Various online technology tools that allow people to connect via the Internet to share information and resources i e Facebook Twitter Advertising Any PAID NONPERSONAL communication from an identified sponsor that INFORMS PERSUADES and or REMINDS Decision Sequence Model A process used in advertising as a way to guide the creative process toward effective strategy and execution Components Situation Analysis o A research based analysis of all of the internal and external factors that affect the organization Consumer Competition Product category Company Macro environment Objectives and Positioning o Objectives goals the company plans to achieve o o Positioning the way the consumer perceives the brand Brand all of the intangible attributes attached to the product Product orange juice Brand Minute Maid Brand Equity the difference in perceived value between the product and the brand A combination of actions that achieve the objectives Types of Strategies o Strategies o o Creative Media Budget Setting Sales promotion Allocation of funds needed to implement the strategies Implementation o o Putting the strategies into action 2 Assesses the success of the campaign did the campaign achieve the stated objectives ADV3008 Principles of Advertising Exam 1 Study Guide Evaluation o Levels of Involvement The relative importance of the product to the consumer Three Levels No involvement o No interest in the product category o No purchase behavior Low involvement Product is used Careful brand evaluations are not made High involvement o o o o The product is used Consumer engages in careful brand evaluation prior to purchase Hierarchy of Effects The series of stages a consumer passes from unawareness to brand loyalty HIGH INVOLVEMENT Behavior Attitude Repeat Behavior Attitude Trial Behavior Awareness LOW INVOLVEMENT Awareness High Involvement Hierarchy Example Honda Civic o Awareness knowledge that the product exists Don t know enough to make the purchase need more awareness to buy o Attitude opinions about the product Come from personal experience friends social media ads etc Could be positive negative or neutral i e reliable fuel efficient too small etc need favorable attitude to buy o Behavior any action related to the product Test drive behavior doesn t have to be purchase Low Involvement Hierarchy Example Popcorn o o Awareness Trial Behavior action related to the product without the formation of attitude Buy it try it develop attitude after trial behavior Behavior comes BEFORE attitude 3 ADV3008 Principles of Advertising Exam 1 Study Guide o o Attitude favorable unfavorable neutral Repeat Behavior subsequent action based on positive attitude Schramm s Model of ONE WAY Communication Source Advertiser Encodes puts together Signal ad Decodes which is understood Destination by the target market Potential Problems with ONE WAY Communication Encoding the source perceives the problem incorrectly then encodes the wrong concept o Restaurants Diets Taco Bell promoted diet menu items campaign died after 2 weeks because people don t think of the company that way Signal the source understands the problem but sends a signal that does not communicate the intended message o Ad comes out wrong doesn t say the right thing Decoding the receiver misunderstands or misinterprets the message JCPenny people didn t realize that the prices were already marked down so didn t think they were getting a good deal Destination receiver understands the message but forgets or ignores Advertisers didn t spend enough money o o Advertising Agency Organization Account Servicing Liaison between the agency and client coordinate most of work that goes on in account o o Often involved in new business development new pitches etc o Strategy development They have the most business marketing background and have widespread knowledge about advertising work with all departments Research o o Involved in a project throughout the entire process First people to be involved in a project and last Situation analysis determine facts Concept testing creative process which ideas are effective Evaluation did it work Whats the best approach to fit target audience Point creative people in right direction Strategic Planner o Develops creative direction of campaign Based on consumer research findings o Creative o Develops verbal message copy o Develops visual message layout art direction Print digital media etc Media o Delivery of the message Where to put ads TV newspaper ESPN Striving for most efficient use of money Translates the copy and layout into finished form o Production o Traffic o Controls the entire process to insure that each department meets deadlines 4 ADV3008 Principles of
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