Jour340midterm - Midterm Review Marketing mix The function...

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Midterm Review 20/10/2007 22:20:00 Marketing mix The function of advertising  Id products and differentiate them from others To communicate info about the product and where to buy it  Get consumers to try new product and suggest reuse Increase product use  Stimulate the distribution of a product Build value, brand preference and loyalty  Lower overall cost of sales.  Regulatory aspects of advertising  Government restraints on advertisers Federal regulation FTC = deception, comparative adv, unfairness, violations.  FDA, FCC Non-federal regulations o all media review ads and reject objectionable material. Some say they  are more effective regulators than the gov.  Advertising funnel  Awareness Familiarity Opinion Consideration  Intention 
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Shopping Purchase  Re-purchase  Theories of learning  Cognitive theory  o Mental process of memory, thinking and the rational application of  knowledge with regards to problem solving o How we learn from others and evaluate complex purchases o There is an awareness of a need then memory then applied knowledge  then behavior is taken to satisfy a need and there is either a positive or a  negative experience.  Conditioning theory/Stimulus-Response theory o Treats learning as a Trial and Error process o A stimulus like an ad triggers the consumers need or want and this  create a drive to respond. If the drive is reduced after the consumer  responds then there is satisfaction and positive experience and that  produces repeat behavior because the response is rewarded or  reinforced.  o This is applicable to the simple basic everyday purchases like soap,  cereal, paper towels etc.  Maslow’s hierarchy of needs this shows people motivations, where they ranks their needs in life and thus  which products they will buy first.  The lower physiological and safety needs dominate human behavior bc they 
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