Principles of MarketingNotes for April 19
Principles of MarketingNotes for April 19 MKTG 3310 - 001
Popular in Principles of Marketing
Popular in Marketing
verified elite notetaker
This 2 page Class Notes was uploaded by Kelsey Bixler on Tuesday April 26, 2016. The Class Notes belongs to MKTG 3310 - 001 at Auburn University taught by Jeremy Scott Wolter in Fall 2015. Since its upload, it has received 16 views. For similar materials see Principles of Marketing in Marketing at Auburn University.
Reviews for Principles of MarketingNotes for April 19
Report this Material
What is Karma?
Karma is the currency of StudySoup.
Date Created: 04/26/16
Principles of Marketing week 14 The advertising appeal really needs to tie in to why people should buy the product. Old Spice is a good example of humor based advertising that ties in well to the product Burger King “it’ll blow your mind away” –weak connection- doesn’t explain why it’s that good Do it for Denmark ad- appeal to get people to travel to Paris- sex appeal= and humor- saying that if you travel to Paris you’ll have sex. This ties into the product because it encourages people to travel. Bandwagon Appeal- Colgate- 9/10 dentists recommend Colgate. The majority of dentists recommend their product then you’re in the 1% if you don’t Luckies Cigarettes- doctors say that these cigarettes give less irritation- bandwagon Global Warming ad- 97% of climate papers say that humans are causing global warming- is this band wagon? Yes- 97% and Agree makes you feel in the minority if you don’t agree Selecting the right channel- Reach: Number of different people exposed to an ad Rating: % of houses that watch a channel or program Frequency: Avg # of times a person is exposed to an ad CPM: Cost per thousand impressions How to calculate CPM= (cost of cost/ audience size) x 1,000 or Cost of ad/ (audience size/1,000) Super Bowl has a huge audience base if you can afford to advertise Bloomberg Magazine CPM Cost= 139500 audience= 900,000 Answer= $155 Super Bowl commercial CPM Cost= 3,000,000 Audience= 110,000,000 answer= $27. This is a good deal. Better than the Bloomberg Magazine ad What’s the problem with this though not everyone has 3,000,000 to spend on advertising. Also there is a wide variety of people that you are advertising to. You can’t have too segmented of an advertisement. This means that you can be paying to put your advertisement in front of people who don’t care. This is defined as waste. Back to IMC Defining IMC The concept of designing marketing communications programs that coordinate all promotional activities. Also can be defined as Carefully integrating and coordinating the company’s communication channels to deliver a clear, consistent and compelling message about the organization and its products. Why is being clear important if your advertisement is saying that you are a high end brand but you’re offering discounts this is a conflicting message. You are undermining your brand. Ex Joseph A. Bank they started having so many deals that customers were trained to only by their suits when they went on sale. Saturday Night Live even made a skit about it. Synergy if you use the channels well then they help each other. This means that you need to help each channel even when they aren’t your most important channels. Customer touch point Any point where there is an interface between an organization and a stakeholder. An interface can be through a product, front line employee, marketing communication, etc. Example customer service, the actual store, advertisement, etc. Why is it so difficult to manage all the touch points Silo mentality A mindset present when certain departments or sectors do not wish to share information with others in the same company. There are separate departments and hierarchy for each touch points there is little drive for these departments to work together. They are disjointed. Sometimes there is even a battle between the departments. You also have to take into consideration external partners. Ex “Kraft for instance, has assembled a growing Rolodex of 70 new specialist partners” Common misconceptions between IMC A common mistake is to imagine that having the same look and feel across different channels IMC is also not creating a bureaucratic nightmare. An example of IMC Nike’s write the future campaign. They decided not to sponsor the world cup but ran a giant campaign centered around it. Campaign played off the idea that you control your own destiny. Along with this they had social media based contests. They would project things from the campaign on to the Nike building. Took their idea and spread it across a lot of different mediums. They stole the show for a while. Had the most response of anyone who actually sponsored the World Cup. So what can we deduce IMC is difficult because …you are aligning different functional areas …you are aligning different external partners …the manifestations of the “brand message” has to make sense in the promotional channel …the organization’s nimbleness must be maintained