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Exam 1Exam 1 Notes - Adv318J A Read Chapter 1 by next class...

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Adv318J 08/31/06 A. Read Chapter 1 by next class time. B. Advertising is Salespersonship C. Integrated Brand Promotion: a. Does it work? i. Has been proven to be very effective b. Can it do good things? i. Yes, prison example that they been locking up smaller children in jail regardless of their positions. c. Can it do bad things? i. Tobacco, alcohol, gambling, guns ii. Advertising is used for fraud d. Yes D. Does Adv/IBP work? E. How does Debeers (diamond company) maintain high price when it’s high in dmand? a. By withholding supply b. Clever marketing F. Japanese culture a. Diamonds were barely ever sold before; now 80% of bride has them. G. If you are a marketing genius for DeBeers: a. How can you double your marketing size? H. Can adv/IBP increase primary demand ? a. Textbook say no, Professor say YES. I. Advertising is FULL of contradictions a. Home on campus b. Both Business and Social Phenomenon c. Everybody is an expert but…nobody can predict what will happen d. Highly visible but… J. 292 billion dollars, invested money in advertising in 2006. K. 3 key factors to advertising a. Creativity b. Enthusiasm c. Hard work L. Advertising is always changing, It’s changing Media landscape a. Direct mail, newspaper, magazines, broadcast TV, radio, Cable TV, Internet i. “For the first time youths are spending more time in front of a computer than a TV” (2005 report) M. Onspot Digital Network (Merged of some of the biggest companies such as Simon mall included, own about 300 malls) a. Publicis Groupe b. Simon Property Group c. 17 NW, C., LA first d. 50 malls, 2,000 screens installed in the mall, $350k e. 8 min. loop, 8:30 sec. spots September 5, 2006 A. Environmental Context of IBP B. Marketing : “The set of human activities directed at facilitating and consummating mutually beneficial, long-term, exchange relationships”
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C. Market-Directed Economy : a. 4 facts of Eco Lift i. Firms compete for consumer’s favor + operate to make a profit, but this is not guaranteed ii. Consumers are not forced to buy iii. Caveat Emptor – Latin for “Let the buyer beware” iv. Firms make their own decision (about what to produce and market) b. Natural Pressure: i. Competition ii. Specialization iii. Efficient Performance D. Firm’s Basic Approach to Marketing a. Bundle of Satisfactions E. Marketing Mix a. Product b. Place c.
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