Test 2 Review

Test 2 Review - The Super Bowl & Marketing What is...

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What is advertising? o Promotion Advertising is one form of communication Paid Identifiable source Delivered through media Persuade receiver to act Why do companies advertise during the Super Bowl? What does each of these entail? o Cost is low relative to other opportunities Oscars (2009): $1.4 million World Series (2008): $392,000 American Idol (2007): $1.3 million These prices are lower than a Super Bowl ad, but the Super Bowl  reaches more of an audience (90 million) o Interest in advertisements o Positive brand association o PR What are the benefits for the television network airing the Super Bowl? What does each of these entail? Advertising revenue Free ad spots PR Post-Super Bowl show Future advertising opportunities Cross-promotion NBc made $261 million in the whole day NBC got $30million of ad spots free What was a major influence on advertising in the 2010 Super Bowl? What were some of the strategies companies used in light of this? Macroenvironment o Economic situation Strategies o Entertaining o Special offers o New feel/message o Opt out What is counterprogramming? Why networks do this? Chapter 7 – Segmentation, Targeting, and Positioning What are the steps involved in a Market Segmentation/STP Analysis? Which steps involve segmentation vs. targeting vs. positioning? Step 1: Establish Overall Strategy or Objectives (segmentation) Step 2: Describe Segments (segmentation) 1
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Step 3: Evaluate Segment Attractiveness (segmentation) Step 4: Select Target Market (targeting) Step 5: Identify and Develop Positioning Strategy (positioning) What is important when establishing overall strategy or objectives? What are the four different types of segmentation strategies? What are the benefits and weaknesses of each type? Undifferentiated segmentation strategy o Mass marketing o Uniform benefits o No separate strategies created o Ex: salt, sugar, pasta—you’ll consider the store brand Differentiated segmentation strategy o Target several market segments o Provide different offerings Concentrated segmentation strategy o Niche marketing o Single target market selected o Go after a large share of segment Micromarketing o One-to-one marketing o Mass customization o Tailor to individual customer Why do firms describe segments? Helps the firm understand: o Customer profile o Customer similarities o Customer dissimilarities What are six examples of how marketers describe segments? What does each entail? What are some examples of each? What are the advantages and disadvantages of each method? Which methods are found to be better when predicting behavior? Which ones are more objective?
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This note was uploaded on 11/30/2011 for the course MKT 201 taught by Professor Fine during the Spring '09 term at Clemson.

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Test 2 Review - The Super Bowl & Marketing What is...

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