MARK 201 Chapter Notes - Chapter 15: Horse Length, Marketing Buzz
Document Summary
[1] advertising paid form of non-personal presentation of ideas, goods or services by an identified sponsor. 13 billion/year: set objectives (communication and sales) 2: set budget (affordable approach, percentage of sales, competitive parity, objective and task, develop strategies (message and media decisions, evaluate campaign (impact) Informative ads: usually used for new products to build demand. Specific communication task, specific target audience, specific amount of time. Persuasive ads: build selective demand with competition. Some ads want you to buy now, others want to focus on long-term rel with cust: setting advertising budget. Depends on stage in product life cycle, market share and difference from competition. Some spend too much, some too litte. Need to mesh both to have greatest impact (bmw mini campaign: creating advertising message. Madison and vine: merging of ads and entertainment. Want consumers to think in a certain way. Creative concept: big idea that makes ad memorable.
