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