Marketing and Promotion Changes in Advertising A 1.1.6
Marketing and Promotion The main purpose of advertising is to: Get more people to buy Get people to buy more
Marketing and Promotion The four P’s of Marketing (+ 1) Price Product Place Promotion People
Marketing and Promotion Marketing Tools Advertising Sales Promotion Public Relations Sponsorship Direct Marketing
Marketing and Promotion Advertising- portraying the product in a way that makes people want to buy it Main media: TTV Advertising CCinema RRadio PPrint Based PPosters CCCTV
AIDA A – Attract I – Interest D – Desire A - Action
Marketing and Promotion Sales Promotion – Adding value to increase sales Added Value Offers Point of Sale Hands On Trials Radio Promotions Joint Promotions Competitions – National Challenges
Marketing and Promotion Public Relations – achieving as much publicity as possible, preferably without paying for it Free Media Coverage Newsworthy Press Releases Celebrity Endorsements Special Events – World Cup/Olympics
Marketing and Promotion Sponsorship Broadcast Team Event
Marketing and Promotion Direct Marketing Direct mailing to customers Direct contact with customers
Changes in Advertising Six Key Changes
Changes in Advertising Content of Adverts Move from emphasis on Product to emphasis on Brand Media Development of technology Computer Generated Imaging(CGI) Morphing Viral Advertising
Changes in Advertising Audience More Sophisticated Better Educated Media Literate Brand Aware
Changes in Advertising Marketers Change of emphasis by marketers in response to the previous points – content, media and audience
Changes in Advertising Markets Market Developments Changing Markets Children Growing Older Younger Not Confined to Countries by Language Power of the Image
Changes in Advertising Advertising Advertising practice and processes have had to in respond to these developments and changes or fail and fall in its original intention – increase in demand for the product, revenue
Changes in Advertising The THREE P’s of Advertising: Product Position Personality
Changes in Advertising Creating a Brand Image The Brand Image must be tested against producers perceptions It must also be tested against the audience/consumers expectations Importance of Market Research
Changes in Advertising Branding – Brand Image Branding is a key device since it removes the product from some of the most direct elements of the competition. Suppliers of service industry product have considerable difficulty in differentiating their product from competitors. Even if they manage to find a unique feature it is likely to be copied rapidly. Larger service companies tend to rely on branding – typically using the company name
Changes in Advertising Brand 1 Name, term, design, symbol, logo or other feature that a company uses to identify its product or service. Companies try to create an attractive positive image for their brand in different ways How will you brand your Product/Service?
Changes in Advertising Brand 2 Brand Extension – using a successful brand to introduce a new product within a similar category from the same company e.g. soft drink – diet version or new flavour, new car model How will you develop your product service?
Changes in Advertising Brand 3 Adapting the marketing mix for a brand to keep it popular and up to date What will be the marketing mix for your product/service?
Changes in Advertising Product Personality Substance – defined by shape, weight, how delicate, how robust Image – will appeal at different levels to different market segments Utility Value – WIIFM – value that the user feels accrues to them
Changes in Advertising Product Life Cycle The notional longevity of a product or service The PLC can be extended by careful control of the Marketing Mix Price - Place - Product - Promotion
Changes in Advertising Boston Group Matrix – Product Development Rising Stars Problem Children Cash Cows Dead Dogs
Changes in Advertising Market Segmentation How an individual product may be targeted at the consumer How will you segment the market for your customers/clients?
Changes in Advertising Market Share How a company will try and capture as much of the market for a given product Do you know what your market and market share is?