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Advertising’s Role in Advertising’s Role in MarketingMarketingAffectionately named Affectionately named Chapter 2Chapter 2
Chapter OverviewChapter OverviewWhat is Marketing?What is Marketing?
The Key Players and MarketsThe Key Players and Markets
The Marketing ProcessThe Marketing Process
How Agencies WorkHow Agencies Work
International Marketing International Marketing (standardize/localize; corporate (standardize/localize; corporate HQ)HQ)
The Dynamics of Modern MarketingThe Dynamics of Modern Marketing
Marketing is the way a Marketing is the way a product is designed, product is designed, tested, branded, tested, branded, packaged, priced, packaged, priced, distributed, and distributed, and promoted.promoted.
ValueValueValueValue
CreateCreate
CommunicateCommunicate
DeliverDeliver
CustoCustomermer
CustoCustomermer
RelationshipRelationship
Marketing Marketing Planning - Planning - Key Key ConceptsConcepts
Customer-focused Customer-focused marketingmarketing
ExchangeExchange
Added valueAdded value
BrandingBranding
Marketing - Marketing - Key PlayersKey Players
MarketersMarketers
Suppliers and VendorsSuppliers and Vendors
- Added value, - Added value, Ingredient brandingIngredient branding
Distributors and Distributors and RetailersRetailers
- Same as sup. and ven.- Same as sup. and ven.
Advertising AgencyAdvertising Agency
Types of MarketsTypes of Markets
Consumer - privateConsumer - private
Business-to-Business-to-business (industrial)business (industrial)
InstitutionalInstitutional
Channel - resellersChannel - resellers
IMPORTANCEIMPORTANCEGenerally most is Generally most is spent on consumer spent on consumer markets, but B2B markets, but B2B advertising is almost advertising is almost as important.as important.
Mass media - Mass media - consumersconsumers
Specialized media - Specialized media - trade professionalstrade professionals
Marketing ProcessMarketing Process1. Research consumer market and 1. Research consumer market and competitive marketplace-->develop competitive marketplace-->develop situation analysissituation analysis2. Set objective for the marketing effort2. Set objective for the marketing effort3. Assess consumer needs and wants 3. Assess consumer needs and wants relative to product-->segment market into relative to product-->segment market into groups based on likelihood to respond--groups based on likelihood to respond-->target specific markets>target specific markets4. Differentiate and position product 4. Differentiate and position product relative to competitionrelative to competition5. Develop marketing mix strategy (prod. 5. Develop marketing mix strategy (prod. design, performance criteria, pricing, design, performance criteria, pricing, distribution, communication)distribution, communication)6. Evaluate effectiveness of strategy6. Evaluate effectiveness of strategy
Modern MarketingModern Marketing
Integrated marketing --> product, place, price Integrated marketing --> product, place, price and promotion work together [cohesive]and promotion work together [cohesive]
Relationship marketing --> customer Relationship marketing --> customer relationship managementrelationship management
Permission marketing --> willing inclusion into Permission marketing --> willing inclusion into marketingmarketing
Marketing Concept: It’s an Marketing Concept: It’s an APPROACHAPPROACH
Image: Image: http://www.tmonews.com/wp-content/uploads/2009/12/customer-service-cartoon-thumb.jpg
Focus on Focus on identifying the identifying the
needs and needs and wants of the wants of the
customercustomer
Solve Solve customers’ customers’ problemsproblems
Examples: Harley, Intel, UPS, United AirlinesExamples: Harley, Intel, UPS, United Airlines
ExchangExchangee
EconomicEconomic CommunicationCommunication
Image: Image: http://www.cartoonstock.com/newscartoons/cartoonists/tzu/lowres/tzun544l.jpg
Branding-->BrandBranding-->BrandMeaning -> Distinctive Identity -> FamiliarityMeaning -> Distinctive Identity -> Familiarity
Image: Image: http://smallbrandblog.com/wp-content/uploads/2010/11/branding-1.jpg
Example: Ivory - “It floats”; “99 and 44/100 percent Example: Ivory - “It floats”; “99 and 44/100 percent pure”pure”Legally protected brand->TrademarkLegally protected brand->TrademarkBrand equity is the reputation, meaning, and value the brand has acquired over time (financial value Brand equity is the reputation, meaning, and value the brand has acquired over time (financial value contributed to company)contributed to company)
Added ValueAdded Value- More convenient- More convenient- Lower price- Lower price- Higher quality- Higher quality
Essentially, ensure product utility Essentially, ensure product utility and convenienceand convenience
Image: Image: http://www.cartoonstock.com/lowres/jmo0216l.jpghttp://www.cartoonstock.com/lowres/jmo0216l.jpg
““Case Study”: Case Study”: PumaPuma
““Success in a crowded market”Success in a crowded market”
Position: “[blends] sport, lifestyle, Position: “[blends] sport, lifestyle, and fashion in a unique way”and fashion in a unique way”
““Blue mountain strategy”: not Blue mountain strategy”: not biggest mountain, but stand out biggest mountain, but stand out (how do things)(how do things)
Use: hot icons, trend influencers, Use: hot icons, trend influencers, market segmentation, design, market segmentation, design, marketing (guerilla, viral-online)marketing (guerilla, viral-online)
1980s trouble: commodity 1980s trouble: commodity product w/ no distinctive imageproduct w/ no distinctive image
Keywords: Keywords: innovative, retro, innovative, retro, individuality, individuality, differentiate, styledifferentiate, style
Benefits of Hiring an Benefits of Hiring an AgencyAgency
Specialized servicesSpecialized services
Objective adviceObjective advice
Experienced staffingExperienced staffing
Tailored management of all advertising Tailored management of all advertising activities/personnelactivities/personnel
IMPLEMENT A CREATIVE VISION OF THE CLIENTIMPLEMENT A CREATIVE VISION OF THE CLIENT
HELP REACH ADVERTISING GOALSHELP REACH ADVERTISING GOALS
Types of AgenciesTypes of AgenciesFull-ServiceFull-Service SpecializedSpecialized
Do it allDo it all
- Function- Function- Audience- Audience- Industry- Industry- Market- Market- Marketing - Marketing communication communication areaarea
(creative/(creative/media buying)media buying)
Agency OrganizationAgency Organization
Account Account ManagementManagement
managememanagement nt supervisorsupervisor
account account supervisorsupervisor
account account executiveexecutive
account account directordirector
Creative Creative Development Development and and ProductionProduction
creative creative directorsdirectors
creative creative groupgroup
copywritercopywriterss
art art directorsdirectors
producersproducers
Media Media Planning and Planning and BuyingBuying
outside outside specialistsspecialists
OR internal OR internal departmentdepartment
Agency OrganizationAgency OrganizationAccount Planning and Account Planning and ResearchResearch
Account planner - Account planner - gather intelligence gather intelligence on market and on market and consumers (voice of consumers (voice of consumer); strategic consumer); strategic specialistspecialist
Internal Agency Internal Agency ServicesServices
Financial servicesFinancial services
HRHR
PersonnelPersonnel
Traffic - tracking Traffic - tracking projects and projects and deadlinesdeadlines
Print productionPrint production
MoneyMoneyCommission (% add Commission (% add to media cost)to media cost)
FeeFee
Retainer (not Retainer (not common)common)
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