Marketing Alexa Cora George Kali Shayn

Advertising

Creating Good Advertising Advertisers want consumers to mainly remember the brand name. Good ads are what truly sell products There are four standard rules for advertising. First attract attention. Next gain interest. Then build desire. Finally gain interest.

Attract Attention Print advertisements need a good headline. Use headlines that mention your brand. A good headline has no more then 7 words. Broadcast ads use the following to attract attention: Sound Unusual visuals A funny moment An attractive person A famous celebrity

Gain Interest Print ads should be simple and easy to read. Avoid complex and mixed fonts. Keep the message clear and to the point. Get to the point right away. New advertisers should not attempt humuor. Direct information sales message.

Build Desire and Get Action Connect the sales message to your visual message. Always ask for the sale. Summarize the reasons to buy. Logo, brand name, slogan, contact info. Print / broadcast ads should repeat a number or website. Retail advertisers include store hours. Focus on buying now not later.

Types of Advertising Publicity Media information about a business. More believable then ads. Controlled through public relations companies. Direct to home Out of home Internet Broadcast Magazines Newspapers

Types of Advertising Out of Home Any advertisement that the consumer is supposed to see out of their home Shown on billboards, buses, subways and transit shelters Direct to Home Any advertisement that comes to your home Internet Three types of internet advertising Company websites, Banner, Broadcast Go anywhere medium Extremely effective medium Very expensive Magazine Many advantages over newspapers

Comparing Types of Advertisements Advertisers use 8 categories to compare media and then they select the appropriate one for their advertising The 8 categories are: Reach, Frequency, Selectivity, Durability, Lead-Time, Mechanical Requirements, Clutter and Costs

Reach The number of people who are exposed to the message. Ex. Super Bowl Commercials

Frequency The number of times the audience will see or hear the advertisement over a period of time. It is required to pay for each placement to get frequency. Ex. Billboards

Selectivity The ability of the medium to focus on target audiences. Ex. Woman products on more feminine T.V. shows. (lip gloss)

Durability How long the advertisement lasts. T.V. shows have only 30 seconds while news papers are all day and calendars are all year.

Lead-Time How fast the ad can be ready to run. T.V. ads could take a couple of months while news papers a couple of days.

Mechanical Requirements How complex it is to prepare the ads for the medium. Radio ads are simple while T.V. and magazine ads are more difficult.

Clutter The competition to catch the audience’s attention. Ex. The ad on page 2 of the paper is competing with the ad on page 3 » VS

Costs The accumulating costs of the advertisements. For the preparations and the space and time needed to put out the advertisements

Market Research

Marketing Research  Marketing research is the collection and analysis of information that is relevant to the marketing strategies.

Types of Marketing Research Consumer research – discovers what type of product people want and it predicts the sales of that product –researchers use the phone or personal surveys to find this information Marketing research – identifies certain groups of consumers who would use a particular product or service –marketers create profiles of each group using demographics and psychographic studies Motivation research – examines emotional and rational motives that influence your buying decisions Pricing Research – helps determine if the business can sell a product for a competitive price and still make a product –it also compares prices and how they affect the demand and sales of products.

Types of Marketing Research Con’t Competitive research- looks for opportunities where competition is weak, or where there is no competition and then they examine what the competitors are doing. Product research – examines each product or service and then it determines how these products or services are impacting the market. Advertising research – provides information on the best way to advertise a product to its costumers.

Primary and Secondary Research Marketing research uses primary data & secondary data. Secondary data is information that others have collected. Its found from websites, books, databases, indexes and professionally prepared marketing research reports Primary data is current information that researchers collect for a certain purpose. It is collected by test marketing<internal information’s sources, surveys, observations, and focus groups

The Role and Impact of Marketing

Branding Creating an image A brand name is a word or group of words that a business uses to distinguish its products. A slogan is a short catchy phrase that is usually attached to the companies name and logo. Brand identification occurs once all the previous has been met.

The Product Life Cycle The impact of marketing can be measured in two ways. The most obvious way is with sales analysis. Have sales increased? Have we sold more than our competitors? The other way is to measure a consumer’s reaction to the brand. Good marketing increases brand equity. Its all about getting your brand recognized.

Product Information Product is usually introduced to the market place through a launch, whether they do it nationally or internationally, they do this to get the product selling and for people to know this product is being sold.

Growth Once early adaptors use a new product, others soon try it and sales increase rapidly.

Maturity At the maturity stage, growth is flat, it does no increase or decrease.

Decline At some point, most products fail to attract new customers to replace those who leave to buy other brands

The Decision Point At the final stage of the product life cycle, the decision point, marketers make very important brand-management decisions.

Non-Traditional Product Lifestyles There are 3 different types of Non- Traditional Product Lifestyles Fads Niches Seasonal

Fads Popular for a short period of time Trends and fads are 2 different things Trends last longer and influence other areas while fads are short and don’t influence at all When a fad dies is dies quick and company loses a lot of inventory

Fads Ex. Yo-yo’s Hula-hoops

Niches When a product has a short growth stage and are able to be good but not financially good by the time other companies make the product, the original manufacturer already distributed to many stores

Niches Ex. IPhone

Seasonal When a product can only have success being sold in a certain time of year When a seasonal product comes out (beach towels in the summer) it will not sell as well in other seasons (the winter) Stores holding seasonal items cannot over stock because when the next season comes it will not sell

Seasonal Ex. Beach towels Snow boots

Marketing Concepts

You can divide marketing into two major concepts: the product concept and the market concept. Product concept marketers can answer questions about firm’s internal operations. The four p’s of marketing are product, price, place and promotion, All four elements must be combined properly to have an effective campaign, when all four parts are assembled it is called marketing mix.

Marketers Market concepts marketers work with the external environment by examing both the competitive market and the consumer market.

Channels of Distribution Channels of distribution: the paths of the ownership that goods follow as they pass from the producer to the consumer. They are the methods that a business uses to sell and distribute its products. A product channels of distribution (also known as a distribution chain.) A marketer can use three types of channels of distribution: direct, indirect, and specialty channels.

The two C’s The two C’s of marketing are competition and consumer The competitive market consists of all the sellers of a specific product, and is expressed most often in terms of the total dollars spent annually on this product. The most obvious competition among similar products. All products compete for the consumer’s money in some way.

Income Discretionary income is the income you have that is not committed to paying for basic necessitates. Disposable income is the amount of income left after taxes have been paid.

Competing market, or the types of consumers who buy their products. These consumers can be identified in at least two ways: by demographics and by lifestyle.

Demographics Demographics is the study of obvious characteristics that categorize human beings. Businesses use demographics to target specific consumers. For example age defines the type of stuff people like, children want toys, teenagers want electronics, adults like cars.