Exam 2 Study Guide

Exam 2 Study Guide - Exam 02 Study Sheet Signs that the consumer is in control of advertising Media fragmentation Explosion of cable TV Birth of

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

View Full Document Right Arrow Icon

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

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Exam 02 Study Sheet Signs that the consumer is in control of advertising: Media fragmentation, Explosion of cable TV, Birth of the Internet, FedEx, TiVo/DVRs, Viral Marketing, Rise of the Blog, Social Networking, Consumer Generated Media The video produced featuring the explosive consequences of adding Mentos to Diet Coke helped advertisers to see the value of consumer generated media. Doritos has paid millions of dollars to consumers to create their TV Commercials for the Superbowl. Mothers who wear baby carriers were offended by advertising from Motrin and rallied together on Facebook and Twitter to make their objections known. Unilver has fired their ad agency in place of an ad contest that invites consumers to create their ads. “People don’t buy products. They buy solutions to problems.”-- Ted Levitt, Harvard B-School Marketing Guru Our society’s idea of “needs” shaped by scarcity of 1930s and 1940s. “Post-scarcity” period filled our driveways, garages, closets and drawers to overflowing. Post-abundance will still be marked by scarcity. But scarcity in the future will be rooted in abundance, not deprivation. The biggest growth opportunities of tomorrow will be those that address the needs of consumers who are overwhelmed by super-abundance. Giving consumers less includes: Less to spend (save them money) Less to do (save them time) Less to worry about (make it convenient) Less space to manage (make it compact) Less waste (make it green) Less to understand (keep it simple) Four primary methods of targeting consumers are: Demographics Psychographics Contextual Targeting Behavioral Targeting Age, Gender, Ethnicity, Location, Education, Occupation, Income… are all examples of Demographics. Personality, Attitudes, Values , Interests, Lifestyles… are all examples of Psychographics. Claritas PRIZM divides the U.S. consumer into 14 different groups and 66 different segments. Some of Claritas PRIZM’s segments include: Upward Bound; Blue-Chip Blues; Kids & Cul-de-Sacs; White Picket Fences; Country Squires; Fast-Track Families; New Homesteaders; Brite Lites, Li'l City; Blue Blood Estates; Greenbelt Sports; Winner's Circle; Home Sweet Home; Young Influentials; Second City Elite Contextual targeting helps you to place advertising in places that serve your audience’s interests (like brides who read Bride Magazine might find an ad for Macy’s gift registry service — that’s context)....
View Full Document

This note was uploaded on 01/19/2011 for the course MGMT 3330 taught by Professor Insley during the Spring '08 term at North Texas.

Page1 / 8

Exam 2 Study Guide - Exam 02 Study Sheet Signs that the consumer is in control of advertising Media fragmentation Explosion of cable TV Birth of

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online