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Principles of Marketing

Principles of Marketing

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Principles of Marketing

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Presentation Transcript

  1. Principles of Marketing Lecture-33

  2. Summaryof Lecture-32

  3. Promotion and Its Goals

  4. Informs Builds Relationships Reminds Persuades

  5. The Marketing CommunicationsMix

  6. Advertising Personal Selling Any Paid Form of Non-personal Presentation by an Identified Sponsor. Personal Presentations by a Firm’s Sales Force. Short-term Incentives to Encourage Sales. Sales Promotion Building Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity. Public Relations Direct Communications With Individuals to Obtain an Immediate Response. Direct Marketing

  7. The Communication Process

  8. Noise Source Encoding Message Channel Decoding Receiver Feedback

  9. Steps in Developing EffectiveCommunication

  10. AIDA Model • Attention • Interest • Desire • Action

  11. Today’s Topics

  12. Advertising

  13. Any paid form of non-personal presentation by an identified sponsor.

  14. Any form of non-personal communication paid for by sponsor using mass media to persuade/inform an audience • Products/Services • Public Service Advertising • Non-profit org. • People (political candidates, celebrities) • Places (retail outlets, vacation destinations)

  15. Objectives

  16. Inform: new product, new uses, price changes • Persuade: encourage switching, purchase now, change perceptions • Remind: where to buy, may need in future, top of mind in off-season

  17. Too Much Clutter!!!

  18. Television: networks, cable, satellite dishes • Print: magazines, newspapers, junk mail • Radio: fragmented audiences, “on the more popular stations, your ads are sandwiched with four other ads.” • Billboards, Internet …

  19. Problem… How do you get the attention of the audience????

  20. Break Through the Clutter with Impact Advertising

  21. Humor appeal • Emotional appeal • Moral appeal • Celebrity appeal • Sensory appeal • Rational appeal

  22. Steps to Creating an Effective Advertising Campaign

  23. 1) Define your target market 2) Determine their needs from your product - functional - emotional 3) Develop an advertisement that creates an image for your product that is sought by your target market (positioning)

  24. The Five M’s of Advertising

  25. Message Message generation Message evaluation and selection Message execution Social-responsibility review Money Factors to consider: Stage in PLC Market share and con- sumer base Competition and clutter Advertising frequency Product substituta- bility Mission Sales goals Adver- tising objectives Measure- ment Communi- cation impact Sales impact Media Reach, frequency, impact Major media types Specific media vehicles Media timing Geographical media allocation

  26. Major Advertising Decisions

  27. Objectives Setting Budget Decisions Message Decisions Media Decisions Campaign Evaluation

  28. Message Decisions • Message Strategy • Message Execution • Objectives Setting • Communication objectives • Sales Objectives • Budget Decisions • Affordable Approach • Percent of sales • Competitive parity • Objective and task • Campaign Evaluation • Communication Impact • Sales Impact • Media Decisions • Reach, Frequency, Impact • Major Media Types • Specific Media Types • Media Timing

  29. Advertising Objective • Informative Advertising • Persuasive Advertising • Reminding Advertising

  30. Setting Message Goals Setting Budget Goals Increasing Brand Awareness Increasing Sales by a Certain Percentage Changing the Image of a Product Recognizing a Need for the Product

  31. Setting the Advertising Budget

  32. Stage in the Product Life Cycle Product Differentiation Market Share Advertising Frequency Factors in Setting the Advertising Budget Competition and Clutter

  33. Affordable Method Percentage- of-Sales Method Competitive- Parity Method Objective- and-Task Method

  34. Developing Advertising Strategy • Message Decision • Media Decision

  35. Creating the Advertising Message

  36. Plan a Message Strategy General Message to Be Communicated to Customers Develop a Message Focus on Customer Benefits Creative Concept “Big Idea” Visualization or Phrase Combination of Both Advertising Appeals Meaningful Believable Distinctive

  37. Message Execution • Slice of Life • Lifestyle • Fantasy • Mood or image • Musical • Personality symbol • Technical expertise • Scientific evidence • Testimonial evidence

  38. Design the Ad Unique Selling Proposition Humorous Appeals Comparative Advertising Sex Appeals Demonstration Advertising Appeals Fear Appeals Testimonial Slice-of-Life Lifestyle

  39. Choose the Media

  40. Television Yellow Pages Newspaper Magazine Major Kinds of Media Direct Mail Outdoor Radio Internet

  41. Television • Recent trend is the growth of cable television advertisements. • Marketers can now target audiences through special interest channels. (Food network, home and garden, etc).

  42. Radio • With commute times growing, radio advertising revenues are growing faster than any other media. • Very easy to target your audience.

  43. Print • Consumer and business publications. • Can specifically target your market. • Marketers carefully study subscription rates and demographic data for each news paper/magazine.

  44. Billboards, painted bulletins or displays (such as those that appear on the walls of buildings,) and electric spectaculars Can be local, regional, or national Outdoor advertising is effective along metropolitan streets and in other high-traffic areas Outdoor Advertising

  45. Other Advertising Media

  46. Transit advertising: ads placed both inside and outside of buses, subway trains and stations, and commuter trains • Cinema advertising • Ads on telephone booths and park benches • Ads can be printed in programs of live-theater productions • Directory advertising (yellow pages) • Hot air balloons, blimps, banners behind planes, and scoreboards

  47. Enough for today. . .

  48. Summary

  49. Advertising