Download - Ch. 2 (Ad's Role in Marketing)
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Advertisings Role inMarketing
Chapter 2
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What is Marketing?
The way a product is designed,tested, produced, branded,packaged, priced, distributed, andpromoted
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Key Concepts in Marketing
The marketingconcept
Exchange Branding Added value
The act of trading adesired product orservice to receivesomething of value inreturn
Money is exchanged for
goods
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Key Concepts in Marketing
The marketingconcept
Exchange Branding Added value
The process of creatinga distinctive and specialmeaning for a product
Brand equity isreputation, meaning,and value that the brandname or symbol hasacquired over time
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Key Concepts in Marketing
The marketingconcept
Exchange Branding Added value
A marketing oradvertising activitymakes a product more
valuable, useful, orappealing
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The Key Players and Markets
The marketer Suppliers and
vendors Distributors
and retailers
Other companies thatmanufacture thematerials and
ingredients used inproducing the product
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The Key Players and Markets
The marketer Suppliers and
vendors Distributors
and retailers
Various companies thatare involved in movinga product from its
manufacturer to thebuyer
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Types of Markets
Consumer Business-to-business (Industrial)
Institutional Channel
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The Marketing Process
1. Conduct research and develop a situationanalysis
2. Set objectives for the marketing effort3. Assess consumer needs and wants4. Differentiate and position the product
5. Develop the marketing mix strategy6. Evaluate the effectiveness of the strategy
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Marketing Mix Strategies
Product Place Price Promotion
The product is both theobject of the advertisingand the reason for
marketing Product category
A class of similarproducts
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Marketing Mix Strategies
Product Place Price Promotion
The channels used inmoving the productfrom manufacturer to
buyer
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Marketing Mix Strategies
Product Place Price Promotion
Based on the cost of making and marketingthe product and on
expected profit Customary Psychological
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Marketing Mix Strategies
Product Place Price Promotion
Use face-to-face contactbetween marketer andprospective customer
Used to createimmediate sales
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How Agencies WorkFull-Service Agencies
Include the four majorstaff functions
Account management Creative services Media planning and
buying Account planning
Also have accounting,traffic, production, andHR departments
Specialized Agencies Specialize in certain
functions, audiences,
industries or markets Creative boutique Media-buying services
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How Agencies Work
Account Management
Acts as a liaisonbetween the client and
the agency Responsible for
interpreting the clientsmarketing strategy
Creative Development
People who write People who design ideas
for ads and commercials People who convert
these ideas into
commercials
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How Agencies Work
Media Planning/Buying
Recommends to theclient the most efficient
means of delivering themessage
Responsible for buying,planning, and research
Account Planning
Gathers all informationon the market and
consumers and acts asthe voice of theconsumer
Prepares comprehensiverecommendations
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How Agencies Work
Internal Agency Services
Traffic department Print production
department
Revenues and Profits
Commission Fee Retainer
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International Marketing
An international brand is available virtuallyanywhere in the world
The shift requires new tools for advertisers,including one language, one controlmechanism, and one strategic plan
The choice of an agency depends on thedecision to standardize messages or localizethem to accommodate local cultures
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The Dynamics of Modern Marketing
Integrated marketing All areas of the marketing mix work closely together to
present the brand in a coherent and consistent way
Relationship marketing Marketing that considers all the firms stakeholders
Permission marketing Inviting prospective customers to self- select into a brands
target market in order to receive marketing communication