lecture1_Fall_2008 - Advertising Al Lasker Salesmanship in...

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1 Advertising Al Lasker “Salesmanship in print.” A usually paid form of communication • Structured Identified sponsor Tries to persuade or influence Conveyed through a variety of media • Nonpersonal 1 Types of Advertising Brand advertising • Retail/local • Political • Directory • Direct-response • Business-to- business • Institutional Public service advertising (PSA) • Interactive 2 The Roles of Advertising Marketing role Communication role Economic role Societal role 3 Marketing 4 Marketing is an organizational function and a set of processes for creating, commutating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The Marketing Mix: a set of processes 5 Product Place Price Promotion Advertising and the Marketing Process 6
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2 Free Market Economics 7 Self-interest Complete information Many buyers and sellers Absence of externalities
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