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Comm 108 2nd half

Comm 108 2nd half - Lecture Notes Marketing and Advertising...

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11/1/07 Lecture Notes Marketing and Advertising Four P’s of Marketing - Product - improve - Price – competitive price - Place – put product in an unavoidable place - Promotions The Promotions Mix - Paid o Advertising o Sales Promotion Devices (i.e. Cereal Box toys, McDonald’s Monopoly game, etc) o Packaging – Sometimes spent more on packaging than advertising Ex: Yoplait yogurt shape – recognition, similar to shape of body of a woman Very important!! o Brand Name/ Logo Recognizable logos o Point of Purchase Ex: check out line at the supermarket (magazines, gum, candy, batteries, etc) Duracell will pay to have their batteries at the check out line o Paid Endorsements Nike/James, events. Ex: Tiger Woods, Bob Dole—Pepsi and Viagra, Celebrities o Sales Force Human billboards - Free o Public Relations Donating money in the name of a company Having parties etc o Endorsements Oprah Winfrey (with free endorsements sales of product increase 3000%) o Internet? o Word of Mouth - Paid o High Cost (-) o Low Credibility (-) b/c can just pay for advertising o Difficult to Assess Feedback (-) no way to test how well it worked o High Control (+) can control what’s said about it - Free o Low Cost (+) o High Credibility (+) o Difficult to Assess Feedback (-) o Low Control (-) Branding - Brands become central to individual identity - Marlboro advertising campaign in the 50s to women with babies, a family concept - Regard the brand as an important part of who you are (the goal) - Ex: Mac Campaigns vs. PCs Marketing Branding Strategies - Lifetime Loyalty (ex: getting tattoo of restaurant logo for free food for life) - Creating a Brand Culture (Saturn Fair) Brand Promotion Becomes Culture
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- Miller Lite o Competed “tastes great” vs “less filling” o Created a paradigm that was integrated into culture Hierarchy of Effects - Awareness (beginning of effect) - Attitude (changing attitude) - Behavior (buy product) Maslow’s Hierarchy of Needs - Self Actualization Higher Education Be all that you can be - Esteem Needs Luxury Car Be in Control of the road - Belonging Needs Engagement Ring Nothing says I love you like a diamond - Safety Needs Tires There’s a lot riding on your tires - Physiological Needs Snickers Satisfies hunger New Coke - One of the biggest advertising failures of all time - New Coke won in blind taste tests o When it came out, people said it was “sewer water” and “furniture polish” - Consumers didn’t want different taste, the old Coke meant something more to them o “There were only two good things in my life, God and Coca-Cola and now you’ve taken one of those away from me” o Functional vs. symbolic need o Emotional attachment Mere Exposure Effect Audio Mere Exposure Qualifications - Complex stimuli have a stronger effect than simple stimuli.
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