CLEP Principles of Marketing Study Notes

These are all methods for establishing a promotion

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These are all methods for establishing a promotion budget. These approaches can also be used specifically for advertising, or figuring out the advertising appropriation --the total amount of money that a marketer allocates for advertising for a specific time period. Advertising Plan , which includes Objectives and Budget, is determined by the overall Promotion Plan. Advertising is a part of the Promotion Mix, so the Promotion Objectives outlined in the Promotion Plan are usually the same as the Advertising Objectives. For example, if one of the Promotion Objectives is to increase brand awareness, advertising may be one of the tools they use to achieve that. Web sites are capable of performing many different marketing functions. Many sites, however, simply provide information on their products. They are performing the marketing function of promotion via their Web site. Intranet site (aka: internal web site) is a Web site which is designed by a company to present information to its own employees or specific business partners--access to it is usually restricted . Usually only accessible by the employees of the company, or in some cases, by business partners or customers who have been specifically granted access . This is in contrast to an Internet site, which anyone can access and view. Promotion function of marketing servers to inform the audience of an organization's products, and usually at the same time tries to persuade them to purchase these products. Advertising Budget is derived from the Promotion Budget. Determined by the Promotion Budget, using the same technique , whether it be Objective and Task, Percent of Sales, etc. In advertising, a Media Plan specifies the exact media vehicles to be used and the dates and the times that the advertisements will appear. Specifies which kinds of media the firm will be advertising in; i.e. specific newspapers, magazines, direct mail , etc. It also specifies the advertising schedule . Magazines, television stations, newspapers, and outdoor ads are all examples of media types . Media Vehicles - the specific venues in each medium which a marketer chooses to advertise with are. First the media planner chooses media types to advertise in. Then he chooses specific media vehicles within each media type, for example specific newspapers or magazines. This is known as " reach ." A typical time frame is four weeks. Reach and frequency are often looked at together; frequency is the number of times these targeted consumers were exposed to the advertisement.
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When evaluating alternative media vehicles, one of the factors that media planners look at is frequency , which refers to the average number of times targeted consumers were exposed to the advertisement in a stated time period. In addition to looking at Frequency and Reach, which tell how much of the target audience is exposed to the advertisement and how many times, media planners also take into account cost. Cost-per-thousand is one way advertising costs are evaluated and allows for comparisons across media types.
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