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Jour 374 Marketing and the Promotional Mix Notes Week 1 8-31-16

by: Rebel_Athlete

Jour 374 Marketing and the Promotional Mix Notes Week 1 8-31-16 Jour 374

Marketplace > University of Nevada - Las Vegas > Journalism > Jour 374 > Jour 374 Marketing and the Promotional Mix Notes Week 1 8 31 16

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About this Document

These Notes cover the first week of our class. Because there is only 1 class held in each week in our section there is a lot of information covered. In the notes itself starts off with a descriptiv...
Advertising Copywriting
Maria Marinch
Class Notes
Advertising, and, copy, writing, journalism, Marketing




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This 6 page Class Notes was uploaded by Rebel_Athlete on Wednesday August 31, 2016. The Class Notes belongs to Jour 374 at University of Nevada - Las Vegas taught by Maria Marinch in Fall 2016. Since its upload, it has received 18 views. For similar materials see Advertising Copywriting in Journalism at University of Nevada - Las Vegas.


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Date Created: 08/31/16
Wednesday, August 31, 2016 Jour 374 Notes SUMMARY Today we talked about all the components of Marketing. Marketing consists of Marketing elements that include the Product Mix, Price Mix, Distribution Mix, and the Promotion Mix. These mixes are completely controllable by the marketer and will be adjusted through time in order to generate the most profit. Some uncontrollable factors include a bad economy, the cultural and social environment, the business, political and legal environment as well as the demographic environment. The product itself has a life cycle that goes through certain stages at different times depending on the product and how it relates to society. The way a product is marketed is based off of this life cycle. The way a product is sold whether it is through retail stores or personal sellers will make all the difference when it is being promoted. Methods of promotion such as public relations, personal selling and advertising will be used to the Marketer’s advantage. It is important to research your market using qualitative and quantitative methods. In order to properly target your audience, you must put your audience in compartments, a method called segmentation, so that you will be able to determine exactly what this group wants, needs and expects from your product. Once your market is properly segmented, it will provide the Copy Writer with enough information to target and market to your audience. Marketing - Marketing is defined as a business environment that includes the VERY IMPORTANT 4 P’s: 1. Product 2. Price Promotion 3. 4. Place - Marketing includes controllable Marketing Elements: 1. Product Mix 2. Price Mix—adjusting the price to fit the consumers you are targeting will be able to potentially draw in even more people to sell to. For example a coach purse is still a luxury brand purse but the market opens up for middle class consumers through the adjustment of price. It is important to look at the strategy and ask yourself “How can I create the biggest market for my product?” 3. Distribution Mix—How will you distribute your product? Will personal sellers be used or will products go through retail stores? 1 Wednesday, August 31, 2016 4. Promotion Mix—How will you get consumers to buy your product? Will you use a combination of Social Media and Magazines or Commercials and Newspapers? - External Factors that can’t be controlled while marketing your product: - Economic Environment—inflation, economy goes down - Cultural and Social Environment—the way a city operates - Business Environment—your competition in your area, famous spokespersons and their actions, etc. - Political and Legal Environment—disclaimers, copywriting - Demographic Environment Product - It is important for you to consider the brand. Because of positioning and how that is displayed on TV or any advertising platform, it changes what it means to the consumer. - Brand & Brand Positioning - legal term for brand is trademark - Brand Positioning is the way consumers, users and buyers view competitive brands or products. 2 Wednesday, August 31, 2016 Product Life Cycle - Each company has different life cycles that depend on factors such as culture, weather, and social norms. Companies such as Pepsi has a life cycle that is dominated during the summer while Burlington Coat Factory will target their market in the fall. It also depends on where the product is from. All aspects are considered when a marketer is deciding when to advertise. Place - The location is very important when it comes to sales. Distribution, Inventory, Transportation, Warehouseand Housing, and Logistics are all very important aspects. - There are also certain channels that the packaging comes out of. These include Retailers, Wholesalers, Representatives, and any kind of possible outlet (like personal sellers) that could target your market and generate the highest sales. 3 Wednesday, August 31, 2016 Promotion - The Promotion Mix - The accumulation of advertising, personal selling, sales promotion and public relations that are put all together and used by a marketer to achieve certain goals. - Advertising - Ask yourself “What is this ad going to do?” Your main goal is to persuade your target market to buy your product or to view the product the way that you want them to. It is important to consider your target market and the psychographics of your market. RESEARCH YOUR MARKET. The key to advertising is like being a movie star. You must be able to be in that person’s shoes and know what it feels like in order to properly target your audience. - Public Relations - This is for all the Social Media Buffs: making posts and posting pictures on instagram, twitter or Facebook will allow good PR to happen. - Using the internet - Personal Selling - All the Avon girls or makeup sellers that each have a get together where friends and family can buy their products from them is considered personal selling. - Sales Promotion - Giving coupons and any kind of deals such as BOGO or any cut in prices can be seen as a sales promotion. - Packaging - Packaging is also a very important aspect. Think about the packaging on the most expensive and popular brands. Each package is sometimes a piece of art used tactically ignorer to persuade the consumer even more that that product is better than the rest of its competitors. 4 Wednesday, August 31, 2016 Market Research - Primary - Qualitative—research based on writing, interviews etc. - Quantitative—Statistics in numerical form that is particularly great for segmenting groups of people. - Secondary - This method is the most important method. Looking at both external and internal marketing environments and knowing them will get anyone a job and make anyone valuable. - It is important to remember that your advertising strategy should be based on research, experience and professional practices. Copy Writer - You must be able to know your audience and your motive from your target audience. This person has the ability to make creative advertising ideas by using all the information from research, being a good writer, and creating an impact on the consumer in the quickest and shortest way possible. Segmentation - This is the basic goal of all for profit companies. They want to do more with less, increase their sales and their markets, and to improve their products and make them as specific to the consumer as they possibly can. - The Compartments of Segmentation: - Demographics - Behavior or Interest—athletes, foodie people, collectors etc. - Affiliation or occupation - Geography - Think of all your consumers as people that you can put into different boxes with labels. You must put enough consumers in each box in order for it to matter, so it is important that it is substantial enough to be profitable. These segments must be 5 Wednesday, August 31, 2016 accessible and they also must be different enough so that each segment has their own box. It is even more important that these segments are created practically because your consumer is thinking in a cost effective manner. Stereotyping is unfortunately important in order to sell the product because the main goal is to sell the product. Targeting - Once you have decided how many boxes and what kind of boxes you have, it is important to hover above all of the boxes and decide as a marketer what boxes have the greatest potential for profit. - Some important factors for targeting: - The number of customers and spending potential - The ability to reach them and what it will cost - Your competition - The customer satisfaction with current offers - What growth looks like in the future - The potential for profit - Barriers to enter the new market. These could be legality issues, culture and language barriers, etc. 6


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