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80 Cards in this Set
- Front
- Back
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Who are the major participants in Advertising?
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-Advertiser
-Advertising Agency -Media -Suppliers |
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Who is the most important participant in Adv?
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The Consumer
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The company who is paying for the message is?
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Advertiser
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Who do small advertisers get help from?
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The Media
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Who do larger companies use?
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An in house agency
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What is an in-house agency?
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An agency that is a part of your company
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What are the reasons for using an in-house agency?
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1.Cost Saving
2.Confidentiality 3.Communication 4.Cordination & Control 5.Company and product familiarity |
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What are some reasons to use and Independent agency?
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1.Objectivity
2.Quality/Diverse Experience 3.Specialized Personal 4.Working Relationships |
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Sliding- Scale of Negociated Comission
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Media outlet gives them % of what space is sold and typically comission is 15%
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What is happening to the comission system? Why?
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It is decreasing because of problems
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Negociation Comission
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Advertiser and Advertising Agency have coem to an agreement with what the comission % will be
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Fixed Fee & Cost Plus is based on what?
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Fee Based
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Fixed Fee
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The advertiser and the advertising agency get together and decide exactly how much the agency will get paid
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What is the other part of the fexed fee agreement besides decideing exactly how much the agency will get paid?
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What will the agency do for the client
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Cost Plus
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The advertiser will pay for all the costs associated with this campaign and then pay us "this much money"(advertiser pays agency)
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What are the functions of a Full-Service Ad. Agency? (8)
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-Planning
-Creative Services -Marketing Services -Media Service -Research Services -Sales Promotion, PR, Direct Marketing -Account Serivces -Management and Financial Services |
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What is the Medias role in a full-service Ad. Agency?
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How the message is delivered. whose eyes and whose ears are going to target your audience
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What will a good media sales person look for?
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Cooperative Advertising
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Cooperative Advertising
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The sharing of advertising costs by the manafactuer and the distributer or retailer
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What would be an example of cooperative advertising?
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Basically a reatiler can advertiser more than before but they must use a certain brand in there advertisement to represent that company who is paying for it.
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National Advertisers pay more for space than a local advertiser, so the manafacture cant get the add for cheaper, but the local advertiser pays for the space bc its cheaper for them. What is this EX of?
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Cooperative Advertising
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When doing Cooperative Advertising is there any certain stipulations?
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Yes. Their may be certain criteria the local advertiser must follow
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Who are the participants to suppliers?
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-Production
-Talent Agencies -Research |
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What is a very broad agency? How come?
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Supplier Participants- Basically it's anyone who is hired to supply something
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Will suppliers typically specailize in a certain area?
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Yes
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Adverising Campaign
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Consists of an analysis of marketing and communication situations in order to establish objectives and make strategic decesions to be carried out in a series of advertising messages to be place in advertising media
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What is the very 1st step of advertising planning?
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Strategic Research
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When does the creative message take place?
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Not until the end of the process
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How the consumer relates to a product is apart of what?
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Strategic Research
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Research ____ you, but does not make ____ for you.
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guides; decesions
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What is the basic Research Process?
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1.Establish the need for information
2.Specify Research Objectives 3.Determine source for Data |
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What are the 2 sources for data?
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Primary Data Needed and Secondary Sources
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Primary Data
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-Primary Research
-Original research being done to solve specific issue interested in |
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Where do you look for research first? If there is no info here, then where?
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Secondary Sources, Primary Research
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Secondary Sources
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-Secondary Research
-Info that is already available that we can use to solve our problem |
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Give a summary to the research process: (3 steps)
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1.Define problem we face
2.Specify what we exactly want from the research 3.Where are we going to get this info? |
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What are the different types of Strategic Research?
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-Consumer Research
-Prodeuct Research -Competitve Research |
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Consumer Research
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Understanding the consumers and what influences the purchase and use process
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Product Research
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Understanding consumer responses to the advertised product, service or idea
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What are some parts of knowing the person in conumser research?
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Understand who uses the product, whose buying? whose influencing?
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What type of research does this belong too? How the product is used/could be used
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Product Research
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What type of research does this belong too? How product is designed to satifsy the consumer
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Product Research
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What type of research does this belong too? How the product is packages and distributed
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Product Research
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What type of research does this belong too? Image and position the product holds in the mind of the consumer
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Product Research
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Position
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Consumers perception of the brand relative to their perception of competing brands
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Image
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Consumers overall perception of brand
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Why would you want to know what your competitor is doing?
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Because you need to monitor what they are doing so you can do better or top what they are doing
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What are the strategies for Market Competitors?
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Neilson Retail Index, Leading National Advertisers(LNA) and TNS
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Neilson Retail Index
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They will tell you where and how much they are selling there products, tell you how well your competitors are doing sales, how many stores are stocking there sales
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Leading National Advertisers(LNA)
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What your competition is doing on terms of advertising; where they are advertising and how much they are spending
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TNS
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Content of messages being put out
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Why are market strategies helpful?
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They help you get a better execution of delivering a message(a better message than all your competitors)
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What is very important for success?
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Knowing what your competition is up too!
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Market Analysis
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You looking for trends taking place in the Market Place:
-How do trends effect my product? |
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Most of our advertising objectives are:
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Learning/Thinking & Feeling
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What may be one of the biggest objectives?
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Purchase
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What is the awareness objective?
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Building ideas about your new product- getting people aware of it's capabilites
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What is the knowledge objective?
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Giving people info about your product
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Coordination & Communication
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Amoung all the people involved in the Adv. Campaign, they need to know what they want to accomplish and coordinate and communicate their efforts(agreed upon)
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Decesion Making
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Decide by looking back at your objectives, the decesion of what it is you want to accomplish
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Evaluation of the Campaign
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To look back and see if you accomplished your objective or not- did you accomplish what you said you would accomplish? Did the campaign accomplish the objectives?
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5 characteristics of a good objective:
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1.Specific, Concrete & Measureable
2.Define the target market 3.Benchmark and Degree of change sought 4.Time Period 5.Written |
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Specific, concrete & measureable
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this can not be vague, how are you going to evaluate if you did well or not
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Define the target market
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always include target audience, who the campaign is for, what group are we trying to reach for messages?
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Benchmark and Degree of change sought
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Benchmark measure
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Benchmark Measure
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Where your at right now
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Degree of change sought
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this is what we want to get to
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Time period
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How long will it take to accomplish the objective, you have to decide what the appropriate time period is-> how big is the job?
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Written
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objectives need to be written down, there is way to much to be lost by assuming, if communication is written you have it right their to easily refer back too
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Segmentation
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The process of diving markets into groups of similar consumers and the selecting the group/groups which are most appropriate for the firm to serve
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What are some way to divide people into groups?
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-Demographics
-Psycographic -Geographics -Benefits Sought |
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Demographics
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Characteristics of the individual-> age, race, religion, gender, income level, occupation etc
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Psychographics
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The grouping of consumers into market segments on the basis of psychological makeup- values, attitudes, personality and lifestyle
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Geographics
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Segmentation based on where people live
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What is this ex of: North vs. South, Rural vs. Urban, Own a home vrs. Renting?
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Geographics
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Benefits Sought
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What types of benefits from a product that one might seek( what people are looking for, what brand can deliver to them?)
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What are the general types of Targeting Strategies? (3)
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-Concentration
-Differenatation -Undifferentation |
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Concentration
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saying you decided on 1 particular group, concentrating efforts on that group
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Differentation
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Atleast 2 or maybe even more groups your going to go after, diff. approaches for diff. groups
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Undifferentation
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marketers saying that there product is for everyone, not really segmenting at all- same objectives for everyone
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