BUAD471-Exam 1 Study Guide

BUAD471-Exam 1 Study Guide - EXAM#1STUDYGUIDE CH 1...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
EXAM #1 STUDY GUIDE CH. 1 – Advertising & Integrated Marketing Communication Contemporary IMC Approach Recognized as a business process that helps companies identify the most appropriate and effective methods for communicating and building relationships with customers The dream that what you see in the store fits perfectly with online Can’t work perfectly because it can’t control everything -can’t control publicity Modern World of Marketing Rapidly changing media environment -mass media losing viewers -digital media able to target narrow audience -consumers not content to be passive message recipients -info now obtained from a myriad of sources Marketing Revolution 1.  Shift from traditional media ads to other forms of promotion and nontraditional media now using lower costing and more targeted tools such as the internet as well as sales promotion, event marketing, sponsorships since people can just fast forward ads on the TV, so some new ways to advertise are by product placement integrated into movies and TV shows 2. Internet and social media are changing how companies interact with customers companies are using Facebook pages and posting their ads on youtube and other sites 3. Power shift between the manufacturers and the retailers small to midsize local retailers are being replaced by regional and national chains Walmart and Target are demanding more promotional fees from manufacturers, taking money away from advertisers 4.  Database marketing
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
targeting customers by using direct-marketing methods like email marketing, telemarketing, direct mail the companies’ customer relationship management (CRM) programs involve the systematic tracking of consumers’ preferences and behaviors and modifying the product or service offered to meet individual needs and wants 5. Greater ad agency accountability and changes in how ad agencies are compensated Use incentive-based systems whereby compensation for their advertising agencies is based on objective measures such as sales, market share, and profitability looking beyond traditional advertising agencies and hiring specialized agencies for internet and interactive marketing, public relations, media planning and buying, etc Companies that are Building brands in a Recession -reduce advertising budgets – which makes it increasingly difficult to communicate with consumers and convince them of the value of their brands (must overcome consumer distrust) -balance discounts and promos with the brand image -change product marketing focus – American Express supplies customers with ways to better understand and manage their credit which in return enforces the brand’s core identity while appealing to the consumers desire to be in control -increase online social presence -look for new ways to remain relevant – Recession has led to permanent changes in buyer behavior so we may never see lavish
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern