Exam Flashcards by Kyle Perrin

5 Advertising Objectives (RAAPI)

Reminding
Adding Value
Assisting other company efforts
informing

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5 Advertising Advantages

Broad reach
Educate about functional features and benefits
Speed & Efficiency
can communicate hedonic, symbolic or experiential features

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4 Advertsising Disadvantages

Difficult to Measure
High clutter
can be difficult to target niche groups
requires upfront costs for potential downstream sales

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Advertising: Television Strengths

One-on-one reach
Can generate excitment
Ability to use humour

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Advertising: Television Disadvantages

Cost
Audience Fractionalisation
Clutter

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Advertising: Radio Strengths

Can reach segmented audiences
intimacy
economy
use of local personalities

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Advertising: Radio Limitations

Clutter
No visuals
Audience fractionalisations
buying difficulties

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Advertising: Newspaper strengths

Audience in appropriate mindset to process emssages
Mass audience coverage
flexibility
Trusted

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Advertising: Newspaper limitations

Clutter
Not a highly selective medium
changing composition of readers
high rates of occasional users

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Advertising: Magazine strengths

Potential to reach alrge audiences
selectivity
can present detailed information

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Advertising: Magazine limitations

Clutter
Somewhat limited geographic reach
not intrsuive
long lead times

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Advertising: out of home strengths

Broad reach and frequency
Low cost per thousand
geographic flexibility

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Adevrtising: out of home limitations

Non-selctivity
Higher rates fo occasional susers
difficult to measure audience size

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Point of Purchase 4 Objectives (IREM)

Informing
Reminding
Encouragin
Merchandisin

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P-O-P Strengths

Opportune purchase reminder
Low-cost
Relevant and targeted
customzable
Speed &amp; efficiency

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P-O-P Limitations

Low reach
Requires customers to already bea t store
can have high clutter

Direct Marketing Objectives (SLRT)

Sales
Leads
Registrations for competion/events
Traffic at website

Direct Marketing Strengths

targetability
measureability
accountability
efficiency
personalisation
speed

Direct Marketing Limitations

Cost
Clutter
Requires estabilished custoemr knowledge
safety and ethics

Components of Direct-Marketing Campaign

Objective
Media (Channels)
Creative (Messaging)
Database
Fulfilment

Sales Promotion Objectives (SNCR)

Invigorate sales of mature brand
Introduction of new products
Neutralise competition advertising and sales promotion
Reinforce advertising

Sales promotion advantages

Stimulates behaviour
rewards loyal customers
can break through clutter
measurable 
opportune purchase reminder

Sales promotion disadvantages

can lower profit
can lower brand equity
sales promotion trap (?)

Personal selling objectives (SRAB)

Sales
Relationship with customers
Additional/complex information
Increase brand equity and brand benefits

Personal selling strengths

High level of consumer attention customizable emssage to specific customer interests and needs immediate feedback can communicate complex information

Personal selling weaknesses

Relatively time and cost intensive More effective, less efficient Greater variablility and risk of low consistency in the message Potential for dishonesty (agency problem)

Marketing Public Relations Objectives (BNCP)

Increase brand equity Introduction of new products increase customer loyalty create good publicity or counter bad publicity

MPR Strengths

``` More credible Increase product/brand equity Good stories can be spread online for no cost Reach new segments Supports launch of new products combats negative publicity ```

MPR limitations

Difficult to control difficult to measure Mixed eviddence on whether it leads to actual beahviour becoming increasingly cluttered

Sponsorship Objectives (EAPL)

Increase brand equity increase brand awareness Good publicity increase brand loyalty

Sponsorship Strengths

Can enhance brand equity when paired with right people or events can be targeted to niche groups can increase positive relationshionships gets around media habits (skipping ads)

Sponshorship disadvantages

Can backfire/difficult to control difficult to measure can be cluttered (can also avoid clutter though)

Cause-related Marketin Objectives (EAPL)

Increase brand equity increase brand awareness create good publicity increase brand loyalty

CRM Strengths

Builds additional brand attachment with customer base Reaches new segments Combats negative publicity increase a brands retail merchandising activity (companies want 'good' brands)

CRM Limitations

Can backfire mixed evidence on whether it leads to actual behaviour difficult to emasure becoming increasingly cluttered