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ADV 3008 EXAM 3 STUDY GUIDE CH 21 TRADE TALK Business Market Diversity Local State Federal Manufacturing Technology BUSINESS TO BUSINESS B2B used in producing consumer goods other business or industrial goods and services and or facilitating the operation helping run smoother of an enterprise 3 categories Industrial companies that sell to a very large scale EX American Fuji Seal Inc makes equipment that puts labels on packages sells to Coca Cola Windex etc Government business sells to the government EX the chairs we re sitting on in class the computers on campus those were purchased from a company by the government w state funds EX Northrop Grumman ad shown sells global security systems products to government commercial consumers worldwide Professional business selling professional equipment to other business EX company that sells the materials or equipment to Apple for them to make their products Final users include middlemen re sellers of the product industry not final consumers like us Complex buying situations consumer goes to store to buy 1 computer business goes to buy 100s Key decision makers may be outside the company consultants are hired to give expertise on purchasing decisions we decide for ourselves They don t just look at the product things like company reputations are more important More efficient EX two businesses competing for your account each has 1 hour to advertise this takes way less time more efficient Goals of B2B Advertising Increase awareness knowledge of product company capabilities Differences between Business Consumer Markets Lower the cost of selling Financial Marketing Health care Sales reps are often needed Market Issues Markets are small concentrated Each customer is large Consumer demand often drives markets Product Issues Pricing Distribution Issues Geography Size of company Buying Issues Professional buyers ADV 3008 EXAM 3 STUDY GUIDE Minimal secondary data compared to consumer market EX the need for more clothing sensors due to more consumer demand at a clothing store Consumer market has a wealth of information government research academic studies Secondary analysis primary research lack of secondary data more costly Segmentation segmentation is produced differently but it s just as important Not demographics or psychographics like w consumers Technical complex can t sell in a broad way because EX IBM ad showing many different uses of their storage cloud can t sell broadly b c different companies may want need different storage packages Built to specifications custom made EX what one company needs to label their bottles is different than another company s needs They won t be as impacted by the emotional side so B2B is a lot more of the informational side Have direct impact on advertising marketplace Negotiation or bid Companies differ in pricing structure how much how they pay Lowest price bid doesn t always get it different combinations in the bidding process Short often direct Directly from supplier not retailer Short channel of distribution Trade publications Dominant medium largest share of B2B Minimal wasted coverage small concentrated markets Internet specification deliverability highly effective important medium like w consumer adv Used with broad target markets this seems opposite to what we ve been learning in this concept so take a look at the examples EX copy machines virtually any business would use one Comcast internet UPS shipping etc EX Fed Ex office ad shown advertising to a business what type of business is in the ad It doesn t matter It s an advertisement to any type of business general approach for broad target market Consumer media Small targets Minimal wasted coverage Detailed presentation Home pages Video streaming Minimal waste coverage Direct mail Media Selection News Message Strategy What to say ADV 3008 EXAM 3 STUDY GUIDE Combination of both More rational than consumer advertising Emotion is still important Testimonial Case history Demonstration Rational vs emotional messages Product attributes what it does how it works Company attributes reputation position relationship Price is not as important b c so many products are customized price is negotiated Priorities differ in different departments of the company more straightforward less emo How to say it different executions Very integrated with B2B Experts knowledgeable credible Peers same industry same issues they re relatable Rarely celebrities celebrity testimonials rely heavily on emotion Third person version of a testimonial tells story about what a company has done Show what the product does like in consumer advertising EX Oxi Clean ads EX ads that start with things like Introducing NOW like NOW Heinz ketchup comes in an eco friendly bottle EX ad shown with thousands of analyses on the data of babies Large of sales occur here initiates sales representative contact meet up Usually occur in large exhibition halls convention centers Generally not open to the public Built exhibits for vendors clients Keeps the company name in front of the customer logo awareness EX Post It notes company name logo is branded on the notes pens paper etc Short purchase cycle especially effective EX things in the restaurant trade like office supplies bought regularly so companies will give them samples of different office supplies Companies in a specific industry showcase demonstrate their new products Specialty items Trade shows Positions the company as expert in the field Generic New product information Samples Lower priced items Sales Promotion ADV 3008 EXAM 3 STUDY GUIDE CH 22 FULL SERVICE SERVICE ADVERTISING Use of a product Elements of a Service Task or work Use of a facility Service Advertising Characteristics Intangibility Service Service an object of a transaction which does not involve the transfer of ownership of a tangible product Still a product a different type of product EX Walt Disney World your admin ticket fee is paying for the fantasy day which consists of the entertainment services this example is not talking about the tangible products you can buy at Disney EX insurance you pay for insurance for the services it provides in protecting you EX higher education you pay for the teacher s service of educating you EX dentist cleaning your teeth barber cutting your hair Jiffy Lube staff changing your oil EX movie theatres hotels golf courses gyms EX rental car Hertz ad shown Netflix use of that movie May need more advertising may need more funding EX bars moving peak times


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FSU ADV 3008 - EXAM 3 STUDY GUIDE

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