Jan 19 – Media In Context
Media Analyst Joe Mandese states that media exposures are woven into the fabric of our daily lives (“contemporary chaos”)
Change in Media
Print + Broadcoast Media ???? Categories of Paid, Earned + Owned - Is the platform paid for?
o TV, Radio, Print, Outdoor
- Is the platform a sponsorship or an internal strategy?
o Personal promotion
- Is this coverage we didn’t expect?
o Social media; Sharing
Marketing + Advertising
- Creativity and the Centrality of consumers are important themes that drive the media forward
We also discuss several other topics like What is the difference between a controlled group and an experimental group?
We also discuss several other topics like What is a good brand?
- Media consolidation
o 6 mega corporations own all the media and this influences ADPR - Successful media planning entails seamless coordination between the different media
o Must act subtle and affect consumers subconsciously; if consumers can see a media strategy laid out across multiple platforms, it is an unsuccessful plan
What is Marketing? If you want to learn more check out What causes a solute to be dissolved?
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
- Marketing is an exchange of value
Value: ratio for what is given up for what is obtained
- “given up” = money, time, effort
- “obtained” = goods, services
The Marketing Mix or 4 Ps: How to obtain the Marketing Objective?
1. Product [Creating Value]
a. Goods, services or ideas
b. Used to satisfy a consumer
2. Price [Capturing Value]
a. Everything a buyer gives up ???? money, time, effort
b. Balance between what a customer will pay and what will give a decent profit
c. Price is a key indicator in value
i. Low price = low quality; high price = high quality If you want to learn more check out What is arrector pili?
3. Place [Delivering the Value Proposition]
a. Supply chain management
b. All activities needed to get the product to the right customer at the right time
4. Promotion [Communicating the Value Proposition] a. Informs, persuades and reminds buyers about a good or service b. A communication that can influence opinions or elicit responses
Promotion Mix: How to get the Message Across?
- Advertising, Public Relations, Sales Promotion, Direct Sales, Personal Selling, Internet, Social Media, etc…
- Never ending methods to promote
Marketing concept: “customers are king”
- After WWII ???? Current
- Catering to the wants and needs of the consumer
- Focus on value
o satisfying customers needs while still reaching organizational objectives
o must be able to provide more value than competitors If you want to learn more check out What countries did the us help in the arab spring and why?
- What does the customer want?
Advertising in the Marketing Concept:
1950s-1980s Advertising was an integral part of marketing (the majority of the promotion budget going here)
- Invention of TV = New Opportunities for Advertising
o Creative revolution begun
- Era that people knew who the creatives were behind the ads o Ogilvy, Bernbach, etc. If you want to learn more check out What was a tribe that came from the clovis group after settlement?
- Advertising became a marketing tactic where all planning and strategy was done separately
o Advertisers were given the task to make ads, not “create” ads - Silos developed
o Each sect of promotion was separated and made to work independently
o Each “silo” had a different budget
o Media split from agencies because they claimed no one could do their job better than themselves
Jan 21 – Era of IMC
What is IMC?
Integrated Marketing Communication (IMC) is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Marketing must choose one message to represent / promote across all platforms
o Integrate all “silos” to achieve this marketing strategy o Diminishment of Advertising; PR grew as communication with consumers became increasingly important
o Introduction to Internet further threatened the basis of Advertising
Advertisers were forced to shift from being a marketing tactic to becoming a marketing strategy
- Focus on crafting a plan rather than following orders laid out - Interest in managing brand contact points (when a brand interacts with either consumers or stakeholders) and recognizing the importance in sustaining good relationships
- Emphasis on ROI (return on investment) and determining what was most beneficial and profitable for both consumers and producers
The entire advertising industry had to go through structural changes in order to integrate all communications but there was a problem
- How do we integrate these sectors when we know nothing about them?
Advertisers began to buy PR and research firms to understand how they worked internally
- These units purchased are known as ancillary units
- Advertisers attempted to break down the “silos” but media remained unbundled from the creative
Media-buying services emerged as independent companies to combat the integration instilled by advertisers
- These companies promised efficiency and ROI
Advertising in IM
Integrated Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
IMC but more evolved and integrated
- Emerged when the internet became a prominent platform - Concerned with not only strategy but all avenues of communication (digital / online)
- Connected all aspects of marketing to focus on how when and where consumers were receiving messages
o Emphasis on media as content rather than media as a platform
Bundling of Media + Creative
- Contemporary chaos has created a digital media ecosystem that is a mix of editorial and advertising content
- Media and Advertising business as a "mosh pit"
o Media companies are producing more content on behalf of advertisers known as "native advertising”
Advertisers are hiring journalists to produce stories + websites - Birth of the “ad-tech” industry as society integrates deeper into the digital world
- Advertisers now are beginning to create…
o Branded content, content marketing, programmatic ads