Marketing communications that likely result in consumers having information or

Marketing communications that likely result in

This preview shows page 4 - 7 out of 16 pages.

Marketing communications that likely result in consumers having information or beliefs that are incorrect or cannot be substantiated - Governed by the Lanham Act - Ambiguity : use of ambiguous terms to create favorability (ex. “Light food” may refer to lower calorie or the texture of the food, having multiple meanings) - Vagueness : a whole spectrum of interpretations (ex. “Help lose weight” – by how much? Etc.) - Concealment of facts : most commonly seen in ads involving payments (hidden costs), pharmaceutical ads (side effects); the advertiser might not legally be lying rather they are not telling the full truth; listing side effects quickly or quietly or in small fonts
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- Puffery : exaggeration where no reasonable consumer would believe the claim to be true (“Best coffee”, “most”, “finest”, “fastest”); good legal defense - Appeal to emotions : using emotions to get people to do something - Subliminal messages : pieces of information that do not get perceived consciously but they are perceived in the subconscious mind, info that occurs quickly or is unnoticeable Lecture #4: The Marketing Environment Strategic planning - Objectives : statements of what is to be accomplished - Strategies : statements that outline how objectives will be achieved - Tactics (execution): action oriented details (put strategy into action) Ex. Warby Parker – revolutionizing the eye glasses industry, disruptive brand - Objective: provide affordable eyewear to customers and other developing markets; other companies were dominating the market and charging hundreds of dollars for eyeglasses so WB wanted to eliminate the middleman and cut costs - Strategy: website, send 5 pairs you selected for free to your house and send back to WB whichever glasses the consumer did not like; responsible selling (donate glasses to those in need) - Tactics: partnership with vision spring, buying the school bus and using it as advertisement, interviews External influences - Economic conditions : interest rates, inflation, exchange rates (growing economy, increase in demand/shrinking economy, decrease in demand) - Competitor activity o Direct: inter-product o Indirect: product substitute o Total dollar: alternative gratification (ex. Chips vs. cookies vs. coke) - Social, cultural, demographic : language, spelling, expressions, subcultures, demographic changes usually easy to predict - Technology o Technology is evolving very quickly, new discoveries, inventions and innovations (smartphones, tablets) o Internet as preferred communication channel o Consumer generated content (Facebook, Twitter, YouTube) o Crowdsourcing (involving consumers in real time for idea generation) - Laws and regulations o Political players: government, lobbyists, interest groups, grass roots organizations o Sensitive industries (pharmaceuticals) o Adherence to legislation and regulation Key Canadian trends - Aging population - Trend towards urbanization - Smaller households with different structures - Concentration of wealth - Increase in ethnic diversity - Growth of gender equality
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