Advertising Midterm Study Guide

Advertising Midterm Study Guide - Midterm Study Guide MC325...

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Midterm Study Guide – MC325 1. Definition of advertising 1. Paid persuasive communication that uses nonpersonal mass media -- as well as other forms of interactive communication -- to reach broad audiences to connect an identified sponsor with a target audience 2. Social role of advertising 2. Advertising can potentially shape and mirror values. 3. Global marketing and advertising – three main schools o Standardization - Differences between different countries are more a matter of degree than directions, so advertisers must instead focus on the similarities of consumers around the world o Localization - (adaptation) Advertiser must consider differences among countries, including culture, stage of economic and industrial development, stage of life circle, media availability, research availability, and legal restrictions o Contingency - (moderate) Neither complete standardization nor complete adaptation is necessary and that a combination of the evaluation of factors can affect the effectiveness of such advertising 4. Definition of marketing 3. The way a product is designed, tested, produced, branded, packaged, priced, distributed, and promoted o AMA definition: "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships In ways that benefit the organization and its stake holders" 5. Branding 4. Process of creating a special meaning for a product, one that makes it distinctive in the marketplace and in its product category 6. Market segmentation 5. Dividing the market into groups of people who have similar characteristics in certain key product-related areas 7. Steps of the marketing process o Marketing research Conduct research and develop situation analysis (SWOT) o Set objectives o Segmenting and targeting Assess consumer needs and wants o Differentiation and positioning o Develop marketing mix (4Ps) Product, place (distribution), price, and promotion (marketing communication) o Evaluate the effectiveness 8. Media mix 6. The way various types of media are strategically combined in an advertising plan o Media vehicle selection o Ad length, frequency o o Advertising context 9. Product packaging 7. Both a container and a communication vehicle 8. The last ad a customer sees 9. Constant brand reminder once on the shelf 10. Sensory thresholds
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Advertising Midterm Study Guide - Midterm Study Guide MC325...

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