Kalan Lecture 19

Kalan Lecture 19 - A. Marketing Mix a. Product b. Price c....

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A. Marketing Mix a. Product b. Price c. Placement d. Promotion Promotion Mix Advertising Sales Promotion Personal Selling Public Relations Direct Marketing Internet Advertising: Divided into Creative and Media B. Integrated Marketing Communication: A blending of promotional tools to effectively reach and surround your audience with a consistent and compelling message. a. Cobler’s Definition : Carefully coordinating a company’s many communication channels to deliver a clear, consistent, and compelling message about the organization and its products. C. Advertising : Non-personal communication that is paid for by an identified sponsor using 3 rd party media(Mass media) to persuade or inform. D. AIDA( ON BOARD )- The four step process in advertising a. A: Awareness b. I: Interest c. D: Desire d. A: Action e. Between 1 and 3% of a company’s revenues is spent on advertising. f. Consumer products companies spend around 10%. g. There are three different basic types of advertising i. Product Advertising: An advertising message that focuses on a single good or service. This is the largest category of national advertising. Theree reasons could be to:
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1. Purpose could be to educate or introduce consumer to product, 2. give reasons for purchase to consumer, 3. Reminder advertising to remind the people who we are ii. Institutional advertising: Ad message that promotes the activites, personality or point of view of the organization. E.g. “Be all you can be”, “The few, the proud” 1. Designed to build awareness and demand 2. To present an advocacy ad that tries to influence public opinion 3. PSA(Public Service Ad): An ad that is run for the general good of society. There is no profit on it. An idea intended for the public good
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Kalan Lecture 19 - A. Marketing Mix a. Product b. Price c....

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