marketing & advertiisng Flashcards
week 2
”DOING BUSINESS WITHOUT ADVERTISING IS LIKE WINKING AT A GIRL IN THE DARK. YOU KNOW WHAT YOU’RE DOING BUT NOBODY ELSE DOES.
by _________________
Stuart H. Britt
are often taken together and used interchangeably. But marketing and advertising are not the same thing, and if you want to be successful with either, you need to understand why and how they’re different—and how to use each effectively.
marketing and advertising
is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objective (Kotler & Keller, 2005).
marketing
is a management process which is responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing).
marketing
is essentially about providing changing benefits to the changing needs and demands of the customer (P. Tailor).
marketing
STRATEGIC APPROACH OF MARKETING
Give The3C’sof Marketing
Company
competitor
customer
The one responsible to earn profit for the business.
company
The company must always be aware that there are _____________ in the market. The competition can either be direct or indirect.
competitor
- The ______________ should be the center of all the marketing efforts of the company. The company’s responsibility is to satisfy the needs and wants of the market, which is the customer.
customer
TWO MAJOR FACTORS IN MARKETING
- The recruitment of new customers.
- The retention and expansion of relationships with existing customers.
3 ADDITIONAL THREE P’S
people
physical evidence
process
These are the employees, customers or those who are directly or indirectly involved in consuming or producing the goods or services.
people
This can be the facility design, equipment or signage. For example, when walking in a hotel, a customer expects to find the premises clean, the place cozy and staff friendly
physical evidence
This is the flow of activities or steps and level of customer’s involvement. For example, a customer can walk in a fast-food shop and order a hamburger and get it serve within two
.
process
is the paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.
advertising
give four P”s product
product
pricing
promotion
placement or distribution
give the 4 purose of advertising
Give information
Attract attention
Create awareness
Influence buying behavior of consumers
PURPOSE OF ADVERTISING
*To promote _____ about goods and services.
ideas
PURPOSE OF ADVERTISING
*To create _______ in goods and services.
interest
PURPOSE OF ADVERTISING
*To create ________ about goods and services.
awareness
what are the purpose and most important in advertising?
*to create ________
sales
4 Roles of Advertising
marketing role
communication role
economic role
societal role
3 functions of advertising
- social function ( non-commercial advertising)
- phsychological function
-economic function
The main goal of non-commercial ads is not to sell a product or service but to raise awareness about an issue, collect funds for a cause, or promote an idea.
social function (non-commercial advertising)
Examples include the fundraising campaign of an NGO, a government-sponsored public health awareness campaign, and electoral ads of political parties.
SOCIAL FUNCTION – (NON-COMMERCIAL ADVERTISING)
Psychological Motives of human beings The psychology of advertising focuses on building empathy towards a product or service to help you become more inclined to buy or use it.
PSYCHOLOGICAL FUNCTION
Companies spend money on advertising because it increases sales of existing products, helps grow adoption of new products, builds brand loyalty, and takes sales away from competitors.
economic function
5 TYPES OF ADVERTISING
informative advertising
persuasive advertising
comparative advertising
reminder advertising
reinforcement advertising
Ads that use information instead of emotion to appeal to potential customers. These advertisements usually include facts about a product that highlight its features. Pioneering stage of product category. To build primary demand. (example: shoppe and safeguard commercials)
Informative advertising
Form of product promotion that seeks to persuade a potential customer to purchase a specific product Competitive stage of product Build selective demand for a particular brand.
Persuasive advertising
Is a marketing strategy in which a company’s product or service is presented as superior when compared to a competitor’s Comparison of attributes of two or more brand.
Comparative advertising
is one of the most traditional and powerful methods of promoting an existing brand, maintaining the long product life cycle, and retaining your loyal customers for the years to come. Remind people to purchase
Reminder advertising
Assure current purchase that they have made the right choice.
Reinforcement advertising
: (which includes things like banner ads, social media ads, or billboards) is just a single strategy that falls under the marketing umbrella.
advertising
n other words, advertising is a form of ________.
marketing
lso encompasses a ton of other strategies with the goal of getting the word out about your business (like content marketing, sales presentations, brochures, and podcasting).
marketing
This refers to the
actual good or
service, and how
it relates to the
end user’s needs
and wants.
product
This refers to the
process of setting a
price for a product,
including discounts.
pricing
This refers to the
communication
between the seller
and the consumers,
for example
advertising, sales
promotion, publicity
and personal selling.
promotion
This refers to the
process of how
the product gets
to the customer;
for example, point
of sale placement
or retailing.
PLACEMENT OR
DISTRIBUTION
