LectureNotesMarketing

LectureNotesMarketing - Marketing an organizational...

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Marketing – an organizational function and a set of processes for creating, communicating and delivering value to customers and for manager customer relationships in ways that benefit Marketing Mix – 4 P’s Product Place Price Promotion – Advertising Free Market Economics Self-interest Complete information Many buyers and sellers Absence of externalities Functions and Effects of Advertising as a Marketing Tool - To identify and differentiate products - To communicate information - To induce customers to try new product and to suggest reuse - To stimulate distribution - To increase product use - To build value brand preference, and loyalty - To lower overall cost of sales The Mandate for Effectiveness - Today advertising is in a bind - Advertisers expect specific results that lead to sales - Advertising must be effective What makes an ad effective? Characteristics of effective ads: - strategy - Creativity - Execution - Advertising must be goal directed Key Concepts of Advertising Strategy > creative idea>execution>media
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LectureNotesMarketing - Marketing an organizational...

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