BUS-M 300 1nd Edition Lecture 22 Outline of Current LectureI. Objectives of AdvertisingII. 3 Types of AdvertisingIII. 3 Styles of AdvertisingIV. 3 Types of BudgetsV. Advertising TableCurrent Lecture I. Objectives of Advertisinga. 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 trialc. Established brands’ advertising should be persuasive. What does persuasive mean?i. Convincing people to use one brand over anotherii. Increasing frequency of useiii. Distinguishing the bran from competitorII. 3 Types of Advertisinga. 1. Product/Service: Objective is to increase purchasesi. Ex. IU, Ivy Tech, CokeThese 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 organizationi. Ex. The “Got Milk” campaignii. Advantages1. Build category level demandiii. Disadvantages1. Doesn’t help specific brandc. 3. Pioneering: Introducing a new producti. Ex. New iPhoneIII. 3 Styles of Advertisinga. 1. Reminder: Reinforce purchasing behaviorb. 2. Comparative: Creating a differential advantage by comparing a product with a competitori. Advantages1. Persuasion/Information2. Reinforces CA/superiority3. (Pepsi/Coke challenge)ii. Disadvantages1. Tick off consumers/negative attributions2. Identify a serious alternative – elevate competitor3. Lawsuitsc. 3. Advocacy: Communicates a marketer’s position on an issueIV. 3 Types of Budgetsa. 1. Percentage of Salesi. Specified % of either past or forecasted salesb. 2. Meeting competitioni. 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 objectiveV. Advertising Tablea. When analyzing a brand based on style and type of advertisingProduct/Service Institutional PioneeringComparativeAdvocacyReminder Redbull, Coke,
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