Marketing Notes Exam 4 Online advertising o Potential advantages Interactive Inexpensive Individualized Involving In store communication media o Inherent advantages o Technology improvements o Objective get you to buy more and increase the shopping experience New mainly novelty style media is introduced o Infomercials o Place Based media Increasing respectability Match ads to where people are stuck Ex Elevator Common Advertising appeals o Humor not always effective It better be funny because it is easier than ever to offend people It may overwhelm the message Increased liking more commonly used Increased credibility is possible Counter argumentation Hard to argue when you re laughing o Comparative Ads American Style Usually someone trying to challenge number 1 o Use of Celebrities in an effort to develop brand personalities 20 very common Low credibility Causes confusion Recognizable Likeable Measured by what they do their positive feeling and trustworthiness Credible Risk of overuse and that celebrity may fuck up o Fear Find the right fear and the right level of fear Quotes about advertising o I know that half of my advertising is wasted but I don t know which half o What of was though but ne er so well expressed new what of looking at old thing Ad Agencies o Whatever works in advertising will soon be overworked o Are switching sides from working with media to a client base of companies Companies outsource their work for ads o Compensation is varied mix of hourly fees for the last 20 years o Trends What s hot now Global one stop shop agencies that do everything o Easy to start agency but hard to survive and make money Buyology a book that is based on brain wave research o Trying to understand what is going on in their head o Emphasis on emotion which drives people over rationality marketing communications o Tentative findings Sex doesn t sell products In fact it can overshadow Product placement is ineffective and not a good investment Sensory messages work well particularly in combination A very powerful tool Publicity o Is free news coverage NOT paid for In the defense of decreasing waste and increasing the effectiveness of advertising is paid for but publicity is prayed for But most large organizations know how to influence publicity They care about brand morality o The ethics associated with brand name value o Publicity is part of public relations And is a function PR marketing Public any group with an interest with an actual or potential interest or influence to manipulate o To attract media attention find ways to attract what they want from companies make it easy to tell your story by being simple and believable Provide easy interesting truthful and exclusive material Media can impact ad revenue in a positive or negative way o Relationships It s a small world PR benefits Clients Media Job hopping o Advantages of Publicity 1 Credibility 2 Free only in the sense that you don t directly pay for it Limitations Lack of control In the spotlight which is an incentive to influence how you are betrayed Recommendations for dealing with bad news o 1 Respond Quickly o 2 Be honest o 3 Top Management involvement o 4 Coordinate all communication o 5 Look for good news o 6 Prevention Chapter 19 Sales o 8 of America s work force is sales profession 60 of starting jobs are in sales and only 30 of that is actually wanting to be there Implying that 70 are looking for non sales jobs more competitive Personal selling results in decreased importance of advertising o Unrealistic perceptions Advertising too positive Selling Too negative Realities 1 Interests everyone you deal with is more concerned with their self interest 2 Win Win 3 Wide applicability need wide skills for every type of job o Blue ocean new areas of competition o Red ocean intensifying competition There are a lot of opportunities for sales To get that great marketing job need some sales experience and may be the only way to get your foot in the door Companies value that experience 3 Happy endings to starting in sales o 1 Get that marketing job o 2 Prepare for own business where you sell everyone o 3 Stay in sales 1 Demonstrate desirable qualities by performance in selling 2 There are simply a large amount of jobs to fill which are often in high turnover positions 3 Learning Experience the best place to learn about marketing Starting in sales o Negative Origins of Selling Personal Experiences Popular Portrayals movies The fact that selling can be very hard o Selling skills are part of many jobs not just marketing CEOs supervisors Account exec Having the ability to communicate is important Clearly concisely and convincingly o Personal Selling is particularly important for 1 Industrial products 2 Costly products 3 Unsought products o You will need to sell yourself For interviewing you need to be Prepared Packaged Prompt Poised With Practice as the special ingredient The first person you have to sell is yourself Selling TO yourself o Developing and maintaining a positive attitude about your job product organization Selling OF yourself o The salesperson is often a very important part of what customers buy o The key to selling is sincerity o Generalizations about Selling Most expensive form of promotion on a per contact base Bust also the most flexible and most targeted form of promotion o What successful people like about their job Independence and autonomy The people part Intrinsic satisfactions of the job Feeling good about making sale o Selling Changes Now seen more 1 Honest 2 Effective 3 Based on longer run relationships 4 Consultative 5 more professional Changes in customers o What people value in sales people The things people will tell you 1 Represent Us 2 Creative 3 Professional 4 Like them using mirroring tactic Similarity attracted to people like us Affinity like them in a personal o Personal selling is MORE o Text Important interesting deserving of respect than people think More demanding more informed focused on few relationships 3 Key distinctions 1 Business v consumer sales most important o Level of knowledge and skill higher for B2B o Long term B2B o The most abuse and lies are when selling to consumer 2 Order getters v takers o Order getting getting business highly skilled assertive creative o Pure order taker keeping the business customer service Most involve both functions 3 Hard sell v problem solvers o These are both order getters o Problem solver most sophisticated and marketing oriented o Hard sell Also most
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