BUS M 300 1nd Edition Lecture 22 Outline of Current Lecture I Objectives of Advertising II 3 Types of Advertising III 3 Styles of Advertising IV 3 Types of Budgets V Advertising Table Current Lecture I Objectives of Advertising a What is Advertising i Paid non personal communication initiated by a marketer to create or maintain a relationship b New products advertising should be informative What does informative mean i To build awareness induce trial c Established brands advertising should be persuasive What does persuasive mean i Convincing people to use one brand over another ii Increasing frequency of use iii Distinguishing the bran from competitor II 3 Types of Advertising a 1 Product Service Objective is to increase purchases i Ex IU Ivy Tech Coke 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 b 2 Institutional Highlight the organization i Ex The Got Milk campaign ii Advantages 1 Build category level demand iii Disadvantages 1 Doesn t help specific brand c 3 Pioneering Introducing a new product i Ex New iPhone III 3 Styles of Advertising a 1 Reminder Reinforce purchasing behavior b 2 Comparative Creating a differential advantage by comparing a product with a competitor i Advantages 1 Persuasion Information 2 Reinforces CA superiority 3 Pepsi Coke challenge ii Disadvantages 1 Tick off consumers negative attributions 2 Identify a serious alternative elevate competitor 3 Lawsuits c 3 Advocacy Communicates a marketer s position on an issue IV 3 Types of Budgets a 1 Percentage of Sales i Specified of either past or forecasted sales b 2 Meeting competition i Set to match competitors promotional outlays on an absolute or a relative basis c 3 Amount and type of IMC spending needed to achieve specific objective V Advertising Table a When analyzing a brand based on style and type of advertising Product Service Comparative Advocacy Reminder Redbull Coke Pepsi Institutional Pioneering
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