Week 2 lecture
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This 4 page Class Notes was uploaded by KC Notetaker on Sunday October 11, 2015. The Class Notes belongs to 340 at University of Washington taught by Martha Matthews in Fall 2015. Since its upload, it has received 20 views. For similar materials see Principles of Advertising in Marketing at University of Washington.
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Date Created: 10/11/15
Marketing 340 Marty Matthews Oct 6 Chapter 2 Trends in Advertising Consumer control is at the top of the list of trends for affecting the advertising and promotion industry Product placement is a way to overcome Media proliferation consolidation and multiplatform media organizations EX ABC Disney ESPN This means the are lots of options but fewer rms there are more ways to reach consumers than ever before Media clutter and fragmentation has greater emphasis on IBP tools within the overall promotional effort in an attempt to reach consumers in new ways Advertisers are using new ways such as promotional opportunities Crowdsourcing Online distribution of certain tasks to group of experts enthusiasts or even consumers EX online comments on productsdetermines others purchase decision Mobile marketing mobile media turns out to be the biggest promotions Technology has created a way for advertisers to reach consumers with messages directed to consumers mobile devices 0 US spending on ads gt400 billion 0 Worldwide spending on ads gt600 billion Manufactures and service rms Procter amp Gamble 0 Verizon Trade Resellers Sears 0 McDonald s Understand and describe the value that the firm s brand provides Identify the target markets that are most likely to respond favorable to the brand EX Oreo s cookies they promote how good it tastes not how bad they are for you Great student at UW but is an alcoholic They leave out the negative parts and only promote the positive All companies have long term and short term objectives 0 Cannot solve the problem if the problem is the product 0 Advertising cannot solve the problem with the product At that point the company needs to develop a better product before spending money on ads otherwise it is pointless o Advertisings job is the communicative part 0 Types of Ad agency s is an organization of professionals who provide creative and business services to clients in the planning preparing and placing advertisements o Fullservice 0 Creative boutique only does creative work 0 Usually no more than 12 people working 0 Driven agency 0 Media 0 Account o The rst ad agency did not use creative techniques 0 The cost of 15 commission to use billing which lasted 100 years o It was simple to bill your clients 0 Made mass money off it basically printing money on ads 0 There was not many options Cut mass media spending after agencies today ad agencies wont get the 15 commission they are making more ads fro less money Unbundling take full services you offer but hire different agencies 0 Some are paid on retainer or hours 0 Different percentages of billings o EX Hire food stylists Digitalinteractive agencies Focus on using webbased solutions for direct marketing and target marketing communications 0 lnhouse Ad department in a rm and takes responsibility for the planning and preparation of ad materials 0 The problem is working for clients but it can hurt the creativity 0 They do it themselves to save money 0 Media Specialist types 0 Direct marketing and database agencies it is against the law to require someone to buy a product to be entered in a sweepstake Maintain and manage a large database of mailing lists as one of their services They sell lists of contacts information to companies from the list of people who entered into the sweepstake 0 Sales promotion lnstore displays Design and operate contests Sweepstakes Special displays Coupon campaigns 0 Event planning experts in nding locations securing dates and putting together a team of people to pull off a promotion event Oct 8 Chapter 2 cont 0 Most common sales coupon is a coupon Use digital advertising 0 Retail advertising getting people to buy in the short time fast 0 EX buy one get one free limited time offer 0 ln call we created groups for our advertising projects during rst half of class 0 Full Service Ad agencies 0 Account Account coordinator 0 Starting spot is an account coordinator who is the liaison between the agent and client 0 Point person for client Account manager 0 Moves up to manager after the coordinator position 0 Key qualities are do well in sales writing skills understanding stats and market research PlannerStrategy these people think big picture of clients goals 0 Long term position 0 Creative Art director visual look of designing Copywriter involves the writing portion 0 Must have portfolio of work 0 Does the copywriting in ads 0 Media Media buyer negotiate rates 0 Must predict what TV shows will be a successful Media planner decides how to divide the budget 0 Research Contracts with research rms Market analyst Agency compensation o Commissions Around 15 total amount billed 16 for outdoor media 0 Markup charges Production cost Fixed 0 Fee systems Hourly rates or by project 0 Pay for results Fee based on the achievement of agreed on results Tightly speci ed objectives 0 External facilitators organizations or individuals that provide specialized servies to ad and agencies 0 What you need but don t have in staf ng house 0 EX photographer food stylist makeup artist