Midterm

Question 1

What is Advertising?

Answer 1

a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future

Question 2

What is Marketing?

Answer 2

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

Question 3

What is Branding?

Answer 3

a marketing function that identifies products and their source and differentiates them from all other products

Question 4

What is Positioning?

Answer 4

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

Question 5

What is Brand Equity?

Answer 5

the value of a brand; a customer’s willingness to pay more for one brand over another

Question 6

What is the relationship between Advertising and Marketing?

Answer 6

Marketing is the “big picture” or the “umbrella” that encompasses everything involved in bringing a product to market

Question 7

What is the role of Advertising in the Integrated Marketing Communication (IMC)?

Answer 7

Advertising is the paid placement side and MC is the side that promotes through coupons and sales.

Question 8

What are the 4 P’s of Marketing?

Answer 8

Product Price Place and Promotion

Question 9

What are the Advertising Regulations and Governing Bodies?

Answer 9

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).

Question 10

What are the ways that agencies are compensated?

Answer 10

They are compensated by a 15% commission, markups on creative work, fees (hourly or retainer), and incentives

Question 11

What are the common roles within an advertising agency and the common external contractors?

Answer 11

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.

Question 12

What are the 4 types of segmentation?

Answer 12

Geographic Behavioristic Psychographic and Demographic

Question 13

What is Utility?

Answer 13

a product’s ability to satisfy both functional needs and symbolic or psychological wants

Question 14

What is Exchange?

Answer 14

the trading of one thing of value for another thing of value

Question 15

What is the consumer decision-making process?

Answer 15

Problem recognition Information search Evaluation and selection Store choice and purchase and Postpurchase behavior (evaluation)

Question 16

What are the steps in the research process?

Answer 16

Situation analysis and problem definition, secondary research, construction of research objectives, primary research, interpretation and reportings of findings

Question 17

Primary vs Secondary research

Answer 17

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.

Question 18

Quantitative vs Qualitative Research

Answer 18

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.

Question 19

What are Goals?

Answer 19

“big picture” outcomes the campaign needs to accomplish

Question 20

What are Objectives?

Answer 20

measurable outcomes that help achieve goals

Question 21

What are Strategies?

Answer 21

“categories” of ways to achieve the objectives

Question 22

What are Tactics?

Answer 22

specific promotional activities you’ll do in each category

Question 23

What are the common duties for Copy Writers?

Answer 23

Copywriters - develops verbal messages (writes copy)

Question 24

What are the common duties for Art Directors?

Answer 24

Art Directors - responsible for the nonverbal aspect of messages (design, look, feel)

Question 25

What are the common duties for Creative Directors?

Answer 25

Creative Directors - ultimately responsible for the creative product

Question 26

What are the two dimensions of advertising “greatness”?

Answer 26

The two dimensions are strategic resonance and strategic relevance.

Question 27

What are the typical components of a creative brief?

Answer 27

Basic problem, objective, target audience, key benefits, support, brand’s personality, and requirements

Question 28

What is Creativity?

Answer 28

combining two or more previously unconnected objects or ideas into something new