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UT Knoxville ADVT 250 - Exam 1 Study Guide
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ADVT 250 1nd EditionExam # 1 Study Guide Lectures: 1 - 4Lecture 1 (August 21)Advertising consists of 1.) Paid messages (meaning time and money is spent in order to make the message appealing). 2.) Using mass media such as newspapers, radio, TV, magazines, billboards, websites. 3.) Identified Sponsor (meaning you know who is putting out the message which makes people responsible for their message.) 4.) Goal of persuading or influencing the receiver. There are nine types of advertising that we need to be familiar with: 1.) Brand Advertising, 2.) Retail or Local Advertising, 3.) Institutional/ corporate advertising, 4.) Public Service Advertising, 5.) Business-to-Business Advertising, 6.) Directory Advertising, 7.) Political Advertising, 8.) Co-op Advertising, and 9.) Direct Response Advertising.There are four main functions of Advertising. 1.) To generate awareness of products and services.2.) To Remind and Reinforce (for well established brands.) -Ex: A Campbell’s soup commercial aired in the winter. 3.) To provide information about product attributes and benefits, price and availability, or about what type of person uses the advertised product (i.e. target audience.)4.) To Motivate Behavior (i.e. to motivate consumer to either seek more information or compare their options.)Lecture 2 (August 26)There are nine important components of the Advertising industry that you need to be familiar with. 1.) The Marketer: Nike, Coke, etc.2.) Marketing Communication Specialist: Agencies that corporations will hire to get their message to consumers. 3.) Research suppliers: Companies that produce research through various methods to allow the marketer to better target its audience. 4.)Production companies: Companies that actually produce the media in regards to a product or service. 5.)Freelancers: “self-employed” photographers, writers, designers, etc6.) Media Planning/ Buying Agencies: Companies that specialize in placing advertising in the media.7.) Media Companies: Delivers the entertainment/news/programming8.) Government: government agencies that regulate advertising.9.) Legal: Provide legal counsel to advertisers. Each of these components has a unique function that contributes to the overall goal of successfully advertising to their target audience. There are five important components specific to the advertising industry structure that you should know about. 1.) Marketer Structure: Advertising structure located under the marketing function2.) Centralized Structure: All advertising decision made in one place. 3.) Decentralized Structure: decisions about advertising are made at different/ multi levels depending on the needs of the company. 4.) Marketer Decisions: Marketers have many things to consider when making advertising decisions. Marketers get to make the final decision regarding advertising. Marketing effectiveness is evaluated by whether goals are achieved.5.) Advertising Planning: Marketers may do advertising planning either alone or with partners Lecture 3 (August 28)There are two types of Advertising Agencies to familiarize yourself with.1.) The Advertising Agency: an independent business. The specialists that work at an advertising agency are both business and creative people. Specialists assist marketers with a wide range of needs related to marketing commination and advertising. There are local, regional, national, and international advertising agencies.2.) Agency Holding Groups: Business that own various advertising and marketing businesses. The holding group does not ‘do’ advertising. Holding groups manage a portfolio of businesses.There are seven important departments within an advertising agency. 1.) Account Management: You are the agency’s liaison to the client. You mange, schedule, and budget. You are also the team organizer and point person. You must be organized, motivating, efficient, a good listener, energetic, and problem solving.2.) Strategy (Account Planning): You determine the direction of brand and advertising. You research, do creative briefing, and evaluate adherence to strategy.3.) Creative: You are a writer (copywriter) or a designer (art director). You work to execute the creative strategy and you have to work as a team.4.) Production: You oversee the actual creation of individual ads. Production is often divided by media type.5.) Legal: You review all agency contacts and work. You check adherence to regulations6.) Media: You place advertising in media (you are an expert at media) to best reach the target market.7.) Interactive/Digital: This department specialized in web/mobile based initiatives. They develop interactive advertising, product specific websites, viral video, blogging, mobile (apps, games), etcThere are four ways in which you are paid if you work at an advertising agency and you must be aware of these for the exam. 1.) Commission system: traditionally 15% of the media costs are kept by agency. About one half of marketers still use commission. However, few use the traditional 15% now. They tend to use a sliding scale now (negotiate price). 2.) Markup Charges: Add a percentage to services from outside suppliers. Usually 17.65% to 20%. So, basically you charge the client a markup to make up for the money you must pay the agency. 3.) Fee system: Hourly rate for different services provided. Problematic due to nature of advertising. Agencies usually don’t like this system.4.) Pay-for-results: Based on achieving goals. Usually Communication Goal Oriented. Can be problematic because multiple agencies might be involved in same goal. Finally, there are seven specialized agencies that will be on the exam. 1.) Promotions- coupons, etc.2.) Events- build a brand presence at an event. (AT&T at the Olympics)3.) Demographics- Specialized in kids, youth, elderly, male, female, ect.4.) E-Commerce- Electronic sales5.) Sales Promotions- can overlap with promotions6.) Direct Marketing/ Database- 1-800 numbers, catalogs7.) Interactive- Digital. Lecture 4 (September 2) “The four P’s” are the main and important components of marketing. 1.) Product- Must have a relevant/ great product.2.) Price- Price it at the right price for that product and that audience. 3) Place- Where the product is available. 4.) Promotion- You’ve to got be able to talk about it in a relevant way.There are two important types of demand to know for the exam and they are:1.) Category Demand: Refers to a product category. Ex: Toothpaste is a category that is well


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