exam 1 notes - Advertising AlLasker:

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Advertising  05:22 Al Lasker:  The definition of advertising:  “Salesmanship in print” A usually paid form of communication Structured Structure the message accordingly Identified sponsor Tries to persuade or influence Conveyed through a variety of media Nonpersonal Writing it for mass amounts of people Some types of advertising Brand advertising National brand: coke Regulated by government and state Retail/local  People in Lansing: crunchy’s These people have different needs than GM.  Political
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Doesn’t get regulated much (slander) Directory Yellow Pages Simple search advertising Direct-response Gives you some way to respond directly back to the manufacturer (phone number, web  address) Business-to-business Trade advertising, whole sale grocery Public service advertising (PSA) Non-profit, the good of the public, smoke, drink and driving Interactive Social media Institutional Improve our image Advertising plays many roles: Marketing role promotion Communication role Difference between alternatives. How one product is more beneficial than the other Economic role
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Driven by economics.  Advertising keeps cost down because it reminds us of how much the product really is Societal role Advertising impacts on how you buy things Example: Rolex vs. Timex (you know which one is high end and which is low end) Create stereotypes and make you buy things Marketing: a definition Marketing is an organizational function and a set of processes for creating,  commutating, and delivering value to customers and for managing customer  relationships in ways that benefit the organization and its stakeholders. Marketing Mix : a set of processes Product Price Promotion Place Free Market Economics: Self interest Each person is for themselves giving the best ads and finding the best ads.  Complete information Many buyers and sellers Competition keeps quality, price down 
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Absence of externalities Government protects us. (don’t smoke, drink and drive) We don’t let people just do  anything. External concerns are regulated for us and taken out.  Functions and Effects of Advertising as a Marketing Tool To  identify and differentiate  products To  communicate  information To  induce  consumers 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 (most important) Creativity
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Execution Advertising must be goal directed; Media Evolution of Advertising
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exam 1 notes - Advertising AlLasker:

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