Midterm Flashcards
What is Advertising?
a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future
What is Marketing?
an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders
What is Branding?
a marketing function that identifies products and their source and differentiates them from all other products
What is Positioning?
the association of a brand’s features and benefits with a particular set of customer needs, clearly differentiating it from the competition in the mind of consumer
What is Brand Equity?
the value of a brand; a customer’s willingness to pay more for one brand over another
What is the relationship between Advertising and Marketing?
Marketing is the “big picture” or the “umbrella” that encompasses everything involved in bringing a product to market
What is the role of Advertising in the Integrated Marketing Communication (IMC)?
Advertising is the paid placement side and MC is the side that promotes through coupons and sales.
What are the 4 P’s of Marketing?
Product Price Place and Promotion
What are the Advertising Regulations and Governing Bodies?
The advertising regulations are. The governing bodies consist of the Federal Trade Commission (FTC), the Food and Drug Administration (FDA), and the Federal Communications Commission (FCC).
What are the ways that agencies are compensated?
They are compensated by a 15% commission, markups on creative work, fees (hourly or retainer), and incentives
What are the common roles within an advertising agency and the common external contractors?
Common roles in advertising agencies are account management, account planning, media planning and buying, creating, production, traffic, sales promotion, and administration. Common external contractors are art studios, web design houses, printers, production houses, and research companies.
What are the 4 types of segmentation?
Geographic Behavioristic Psychographic and Demographic
What is Utility?
a product’s ability to satisfy both functional needs and symbolic or psychological wants
What is Exchange?
the trading of one thing of value for another thing of value
What is the consumer decision-making process?
Problem recognition Information search Evaluation and selection Store choice and purchase and Postpurchase behavior (evaluation)
What are the steps in the research process?
Situation analysis and problem definition, secondary research, construction of research objectives, primary research, interpretation and reportings of findings
Primary vs Secondary research
Primary is new information gathered and secondary is previously gathered information used for a different reason. Primary can get the exact info but takes a long time and is expensive. Secondary is faster and less expensive but may not get exact info.
Quantitative vs Qualitative Research
Quantitative uses larger representative samples while qualitative uses smaller ones. Quantitatives are generalizable and efficient while qualitative isn’t. Qualitative can explain the “why” which quantitative can’t.
What are Goals?
“big picture” outcomes the campaign needs to accomplish
What are Objectives?
measurable outcomes that help achieve goals
What are Strategies?
“categories” of ways to achieve the objectives
What are Tactics?
specific promotional activities you’ll do in each category
What are the common duties for Copy Writers?
Copywriters - develops verbal messages (writes copy)
What are the common duties for Art Directors?
Art Directors - responsible for the nonverbal aspect of messages (design, look, feel)
What are the common duties for Creative Directors?
Creative Directors - ultimately responsible for the creative product
What are the two dimensions of advertising “greatness”?
The two dimensions are strategic resonance and strategic relevance.
What are the typical components of a creative brief?
Basic problem, objective, target audience, key benefits, support, brand’s personality, and requirements
What is Creativity?
combining two or more previously unconnected objects or ideas into something new
