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MKTG 3132 Week 2 Class Notes

by: Tavish Smith

MKTG 3132 Week 2 Class Notes MKTG 3132

Marketplace > Georgia Southern University > Marketing > MKTG 3132 > MKTG 3132 Week 2 Class Notes
Tavish Smith
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About this Document

These notes cover week 2 information which will be included on our first exam.
Principles of Advertising
Dr. Kathleen Gruben
Class Notes
Marketing, Exchange, value, Advertising, IMC




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This 4 page Class Notes was uploaded by Tavish Smith on Monday August 29, 2016. The Class Notes belongs to MKTG 3132 at Georgia Southern University taught by Dr. Kathleen Gruben in Fall 2016. Since its upload, it has received 6 views. For similar materials see Principles of Advertising in Marketing at Georgia Southern University.

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Date Created: 08/29/16
August 23, 2016 Chapter 1  Key concepts o Marketing: organization creating exchange  Exchange: not just monetary o Value o Marketing mix  4 P’s  Advertising o Integrated marketing communications (IMC)  Four P’s of marketing = marketing mix o Product o Price o Place o Promotion = advertising element  Our FOCUS  Q: What elements does advertising have? o A: Non-verbal communication, sponsored, paid for  Word of mouth is NOT a form of advertising: it’s verbal, not sponsored, and paid for  Uniform causes a loss of uniqueness and a loss of the human element  Integrated marketing communications o Coordinate various promotional elements and other marketing activities that communicate with a firm’s customers o Recognizes the added value of a comprehensive plant that:  Evaluates strategic role of a variety of communication disciplines  Combines the disciplines to provide clarity, consistency, and maximum communications impact o Ensures all marketing and promotional activities project a consistent, unified image o Criticism: inside-out marketing approach  Packs promotional mix elements together making them look and sound alike o Contemporary perspective  Goal-generate short term financial returns and build long term brand and shareholder value  Views IMC as ongoing strategic business process  Growing importance of IMC o Avoids duplication and takes advantage of synergy among promotional tools o Strategically integrates the various communications functions o Develops more efficient and effective marketing communications groups o Changing environment  Evolution to micromarketing  Consumer’s unresponsiveness to traditional advertising  Changing rules of marketing  Promotional mix o Tools that accomplish an organizations communication objectives o Promotion: coordination of all seller-initiated efforts to:  Set up channels of information and persuasion  Sell goods and services or promote brand equity o Coca Cola has the highest brand equity  “Coke” is the second most known word in the world  Elements of the promotional mix  Advertising o Benefits  Most cost effective way to reach large numbers of consumers  Builds brand equity by influencing consumers perceptions o Advertising to consumer markets  National advertising  Done on a nationwide basis or in most regions of the country  Retail/local advertising – encourages consumers to:  Shop at a specific store  Use a local service  Patronize a particular establishment  Primary versus selective demand advertising:  Primary demand stimulates demand for the general product class or entire identity  To business and professional market  Business-to-business advertising: targets individuals who buy or influence the purchase of industrial goods or services for their companies  Professional advertising: targets professionals, encouraging them to use a company’s product in their business operations  Trade advertising: targets marketing channel members. Encouraging them to stock, promote, and resell the manufacturer’s branded products to their consumers  Direct marketing o Communicating directly with target customers to generate a response and/or transaction o Involves  Database management  Direct selling  Telemarketing  Direct-response advertising: encourages the consumer to purchase directly from the manufacturer  Digital/internet marketing o Interactive media: allows users to participate in and modify the form and content of the information they receive in real time o Social media: online means of communication and interactions use to create, share, and exchange content o Mobile marketing: messages delivered are specific to a customer’s location or consumption situation o Advantages  Interactive nature  Capability to precisely measure the effects of advertising and other forms of promotion  TV = no immediate impact  Sales promotion o Marketing activities that provide extra value or incentives to the:  Sales force  Distributors  Ultimate consumer o Aid in stimulating sales o Categories  Consumer-oriented  Trade-oriented o Increase emphasis due to:  Declining brand loyalty  Increased consumer sensitivity to promotional deals  Retailer’s demand for more trade promotion support from companies  Publicity: non-personal communications regarding an organization, product, service, or idea not directly paid for or run under identified sponsorship o Advantage  High credibility  Low cost o Disadvantages  Not always under the control of an organization  Negative stories are highly damaging  Public relations o Evaluate public attitudes o Identifies policies and procedures of an individual or organization with the public interest o Goal-establish and maintain a positive image among various publics


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