Module 1 Flashcards
The Department for Culture, Media, and Sports lists 13 areas of activity which have their origins in creativity. What are these areas?
Advertising
Architecture
The arts and antiques market
Crafts
Design
Designer fashion
Film
Interactive leisure software
Music
Performing arts
Publishing
Software
Television and radio
What is GVA and how is it measured
Gross Value Added (GVA)
GVA is a measure of the increase in the value of the economy due to the production of goods and services.
GVA = GDP + Subsidies - Taxes
Stats about the advertising and creative industry
- Advertising is the 3rd biggest industry in terms of GVA after IT, Software and Games
- In 2021, the UK ad market reached a record £31.9bn
- In 2021, the UK has held its position as the largest advertising market in Europe
- The UK is also the third largest advertising market in the world behind the USA and China
- 2.3 million people are employed in the creative industries in the UK. this represents 6.9% of all UK jobs
- Advertising and in-house production of advertising provides 350,000 jobs
- Media sectors supported by revenue from advertising provides 76,000 jobs
- 560,000 jobs are supported by the advertising industry
What Intellectual Property (IP)?
Intellectual property (IP) means that ideas generated in these industries can be protected by copyright, patents, trademarks or other legal and regulatory mechanisms to stop them being copied or turned to commercial advantage without the permission of originator. IP is therefore seen as central to any understanding of a business/person being in the creative industries.
For example, if you write a song, the song itself is your IP. This protection allows you to benefit from your creative work.
What is the AIDA model of persuasion?
A model introduced in the 20th century. Creativity was used as a means of creating intangible desire around a product.
Attention: Gain the consumer’s attention
Interest: Generate interest in what that product does
Desire: Evoke desire for the product
Act: Incite the consumer to act i.e. buy
What is USP?
Unique Selling Proposition (USP).
The idea of a USP was formulated by Rosser Reeves. He believed that advertising needed to focus on one single benefit that no other brand was claiming. In his book Reality in advertising (1961) he wrote: “Advertising is the art of getting a Unique Selling Proposition into the heads of the most people at the lowest possible cost.”
The USP concept was adopted as part of everyday industry jargon and is something still commonly referred to today (even beyond the world of advertising).
The M&Ms TV campaign in the 1950s (created by Ted Bates) focused on the brand’s USP:
E.g.
“melts in your mouth, not in your hand.”
What is motivational research?
A type of marketing research that attempts to explain why consumers behave as they do.
PhD Ernest Dichter, introduced the revolutionary science of psychoanalysis to the US advertising industry.
Rechristened as Motivational Research, Dichter’s approach used the new technique of focus groups to identify the underlying, unconscious drivers of brand choice and, in doing so, enable brands to evoke these powerful forces in advertising.
What is a ‘Soft sell’?
A sales and advertising technique that uses subtle and casual tactics to build a relationship with a buyer over time to eventually persuade them to make a purchase. Soft sells often use wit and humour rather than repetition and overt sales messages.
What is an account planner?
An account planner is responsible for developing and executing advertising campaigns. One of their many responsibilities is conducting research on sales data, consumer views and brand perception, as well as cultural and social trends. Account planners often play the role of the ‘voice of the consumer’
Advertising and content creation
HubSpot’s state of consumer trends survey revealed that…
30% of 18-24 years and 40% of 25-34 year olds call themselves content creators
What are the IPA effectiveness awards?
These awards recognise agencies, media owners, and advertisers who demonstrate that their communications have been effective, have a good return on marketing investment or ROMI.
Emotion and creativity
They are important components of effective advertising because they can help create a memorable and impactful message that resonates with an audience.
A number of studies into effective communication have shown that its the emotional persuasion that’s the root of the great influence on an audience’s perceptions, and ultimately its behaviour.
IPA also conducted a study that found that campaigns that are successful creatively are up to 10 times more effective than those that don’t have such a creative element.
What is storytelling in advertising?
Storytelling is a technique that uses narrative to communicate a message to an audience. The goal is to create a memorable experience that evokes emotion and builds a relationship between the brand and the audience.
“Humans need stories. Good stories bind us. They create heroes and villains, deliver meanings and messages. Stories are the way we communicate; they stimulate us and ignite our emotions. They make us human. It’s no surprise, then, that in an age when brands want to appear human, they have to become masters of storytelling.” - -Souter, P. (2014, April 3)
Brand building vs. sales activation
Brand building and sales activation are both important marketing strategies but have different goals.
Brand building - Focuses on building a brand’s affinity with consumers, and can lead to long-term growth.
Brand building is like laying the foundation and building the structure of a house. Brand building often can create an emotional connection, differentiate the brands offering, build credibility and trust.
Sales activation - Focuses on short-term tactics to drive immediate sales, such as promotions, discounts, limited-time offers and other tactics that drive customers to make a purchase.
Rather than looking at them separately, think of them as a partnership. Without strong branding, consumers haven’t build any trust or connection with your brand/service. Similarly, if you make no marketing efforts to persuade your customers to buy, you’re not spending your energy and time wisely.
Les Binet and Peter Field established the 60/40 rule. 60% of should be dedicated to brand building and 40% to sales activation. By investing more in brand building, business can create a strong foundation for long-term growth, while sales activation can help drive immediate results.
What is IPO? (Input-processes-outputs)
A visual tool used to describe a workflow, the flow of information, or activities within a system.
IPO demonstrates that agencies can seamlessly deliver across both camps, or at least be able to play nice if they specialise in purely traditional media or digital content.
Inputs: Apply to logic of big-idea storytelling and build a consistent campaign narrative
Processes: Marketers use multi-channel applications, including highly targeted versions of the central idea
Outputs: Fluency and memory structures are created without feeling repetitive
