MC 3367 Advertising Notes, 2/16-2/18
MC 3367 Advertising Notes, 2/16-2/18 Mc 3367
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This 3 page Class Notes was uploaded by Graciela Sills on Tuesday January 19, 2016. The Class Notes belongs to Mc 3367 at Texas State University taught by Thomas Grimes in Summer 2015. Since its upload, it has received 236 views. For similar materials see Advertising in Journalism and Mass Communications at Texas State University.
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Date Created: 01/19/16
2/16 Marketing Market Mix/Four “P”s The 4 “P”s are 1.Product 2.Price 3.Place 4.Promotion (i.e., advertising) Marketing = investigatory; involves finding target audience for advertising Advertising = introducing product, developing loyal following (i.e., branding) 1) Product Two ways to develop products for sale: ● Survey public, determine consumer needs (Johnson&Johnson) ● Develop product, then determine whom to sell it too ○ 3M Company concocted strange glue that wasn’t very sticky and therefore seemed useless. However, someone thought to apply it to paper, and the resulting item was marketed as PostIt notes. Branding = enhancement of product’s value by creating specific affective response based on establishment of emotional connection to consumers ● Colt Firearms Manufacturing Company vs. U.S. Firearms Manufacturing Company: sales = proof that people will buy even defective products from Colt b/c of brand name. 2) Price depends on ● Market demand ● Production/distribution costs ● Competition ● Corporate objectives & strategies: ○ Rolex = nonprofit; expensive, but uses $ for philanthropy ○ WalMart’s volume currently under scrutiny due to store closures ○ Domino’s Pizza company believes delivery service more in demand than pizza itself ○ Battaglia, Rodeo Drive: prestige = the USP (unique selling point) 3) Place Where will product be sold? Buyers will spend more at some stores than others. 4) Promotion once again, promotion = advertising ● Market segmentation has always been important, but is even more so today b/c of extreme fragmentation Ergo, grouping variables used to select segment of market the advertiser/marketer is targeting ● Behavioral, geographic, demographic, psychographic Psychographic: Textbook thinks this has merit, but professor disagrees. ● Involves pseudoscience such as right brain vs. left brain ● Hard to measure w/regards to buying behavior ● ELM (Elaboration Likelihood Model) is better indicator of consumer behavior Geographic: market for durable goods (e.g., pickup truck market in Texas) Demographic: characterization of customer base by ZIP Behavioral: Easiest variable to measure/track/record ● Obama campaign pioneered method of tracking individuals; revolutionized marketing ● Different types of buyers: ○ Tried product, rejected it ○ Sole users, based on brand loyalty (e.g., “I’m a Chevrolet buyer”) ○ Aware nontriers: use competitive products in one category, but won’t buy Brand A (common in fast food market) ○ Semisole users: opportunists who will buy if there’s a sale, for example ○ Repertoire users : regularly switch b/w brands and are therefore most susceptible to advertising Repertoire users can cross w/other variables, including: ● Usage rate: how much of the product is used, and which people are using it the most? (Rule of thumb is that marketers look for about 20% of a product’s users who are brandloyal yet easily swayed by advertising.) ● Purchaseoccasion: when are buyers most likely to buy? ● Benefitssought: what does the buyer want from the product? ○ Repertoire users X heavy volume users X time of day X benefits = prime customer base. 2/18 “The Merchants of Cool” (2001) PBS F rontline Documentary Summary: Executives discuss how they seek out young trendsetters and expose underground cultures to the mainstream, creating a cycle of intense but shortlived popularity that necessitates a constant search for the next big thing. The documentary also examines the influence of television on teen behavior and the resulting feedback loop that perpetuates increasingly sexual and violent content in pop culture. Trends highlighted in “The Merchants of Cool”: ● At the time this documentary aired, MTV was experiencing a resurgence after a period of declining ratings. One successful strategy was their “ethnography study,” which involved going door to door and interviewing teens about their lives. ● Films and TV aimed at teens made use of “edgy” stock characters created to maintain the audience’s interest. The “midriff” was a hypersexual and sophisticated girl, reflective of those who grew up idolizing stars like Britney Spears and subsequently aspired to achieve success with their own beauty. The “mook” was an angry, immature, and often misogynistic boy who acted like an adolescent well into adulthood. Programs such as MTV’s Spring Break portrayed reallife teens as they engaged in debauchery, creating demand for more content that pushed boundaries. ● Sprite’s marketers figured out that celebrity endorsements weren’t appealing to the youth (because young people don’t like being told what to do, of course). They continued using famous people to pitch their product, but the ads became more selfaware and emphasized the fact that Sprite would NOT give superpowers to those who drank it. ● Some youth subcultures resisted the influence of big business, particularly the “rage rock” genre of music, whose fans prided themselves on owning something that seemed too shocking to be marketable. Nevertheless, marketers managed to orchestrated the rise of groups such as Limp Bizkit, and even the original purveyor of the genre, Insane Clown Posse, could not remain obscure. ● The teenage population in 2001 was the largest in American history at 33 million, even outnumbering Baby Boomers. These young people spent $100 billion in 2000, and influenced up to $50 billion of their parents’ spending.
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