Exam4_FC3 - Economic Importance 1 Social 2 Business 3...

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Unformatted text preview: Economic Importance 1. Social 2. Business 3. Economic Functions of advertising: Advertising increases the number of units sold and allows lower sales prices. Persuade Inform Advertising develops initial demand. Advertising increases demand for an existing product. 1. Inform 2. Remind 3. Persuade Remind Advertising reinforces previous promotions. Objectives of advertising: Exposure New; Old ____ brands spend proportionately more for advertising than ____ ones A certain level is needed to affect purchase habits. Advertising Exposure Beyond a certain level, diminishing returns set in. Can change negative attitudes positive, reinforce positive attitudes, and affect how consumers rank brand attributes. Advertising Advertising May change a consumer’s attitude toward a product; resistance as well. Can affect consumer ranking of brand attributes; persuasive. Product Advertising Institutional Advertising Advertising the company’s image. Advertising benefits of specific product. 1. Pioneering 2. Competitive 3. Comparativ e Institutional Advertising Enhances corporation’s identity; advocacy advertising. Product advertising goals: Advertising Campaign Institutional and Product Advertising Major types of advertising: A series of related advertisements focusing on a common themes, slogan, and set of advertising appeals. Advertising Objectives 1. Determine advertising objectives 2. Make creative and media decisions 3. Evaluate the campaign Steps in creating an advertising campaign: Define target audience, desired percentage change, and time frame for change. Defining Ad Goals for Measured Advertising Results Advertising Objectives DAGMAR approach. DAGMAR: Attribute 1. Identify product benefits 2. Develop and evaluate advertising appeals 3. Execute the message 4. Evaluate the campaign’s effectiveness Components of creative decisions: “Powerade’s new line has been reformulated to combine the scientific benefits of sports drinks with B vitamins and to speed up energy metabolism.” Advertising Appeal Benefit “You’ll satisfy your...
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Exam4_FC3 - Economic Importance 1 Social 2 Business 3...

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