6 Factors that drive consumer purchase Income and price – ex. Ikea (affordable) Status – ex. BMW or Rolex watch Current Trends – ex. skateboarding Customs and Habits – ex. Wedding dress Safety – ex. Helmet, snow tires Promotion

What IS Marketing? Without it, not much would sell Consumers wouldn’t know what is available Can’t want it if you don’t know about it (ex. Rollerblade!) 4 P’s Research & development Finding out what consumers want & making it

Marketing ISN’T Production Manufacturing

Marketing Without marketing, businesses wouldn’t sell as much Can CREATE trends Can INFORM How has a product improved? What does the product do?

Advertising PAID promotion of good or service Mass media Targets certain consumers

Target market The specific type of consumer your advertisement is directed to Example: Mothers, with babies ages 1 to 2 years old, with an average to high income

What makes an effective ad? Bright BOLD colour and font Catchy slogan Interesting or informative picture Informative text Humour, emotional appeal, fear (of injury or harm if you don’t buy product)

Types of advertising media Direct to home/flyers Billboard Radio Television Transit Magazine Newspaper Online (Facebook or other social media sites)

Direct to home/flyer Pros Reach your targeted area easily Cons Many just throw away and think it’s “junk mail” Expensive to do mail-outs

Billboard Pros Reach your targeted region easily Relatively cheap Cons Distracting/dangerous to drivers Vandalism Ad is up for a long period of time – may not be seen as relevant after a while Cannot put much text – hard to read from far

Radio Pros Short notice required Reach local audience Good for local events Cheap Cons Detailed information may not be understood People may change the radio station during commercials

Television Pros Detailed information can be shown, including HOW to use a product or a comparison Video, sound, and great colour Can target specific interests based on shows people watch Cons VERY expensive compared to other media Many have Netflix or PVR now and therefore do NOT watch any TV commercials

Transit Pros People who take transit have more time to sit and read ads while commuting since they don’t have to pay attention to driving Able to print text since people have time to read it and generally you are closer to the ad than when it is a billboard Cons Hard to target specific demographic of age or interest Can be vandalized

Magazine Pros High quality images Longer shelf life than newspaper Sometimes get passed on from person to person Can target specific interest groups (example “Knitting Magazine, Men’s Health, Electronics Geeks, etc) Cons More expensive than newspaper Long set-up time (2 months in advance) required – may not still be relevant

Newspaper Pros Can easily target specific demographic area Relatively cheap Quick turnaround time for ad placement Cons Picture/ad visual quality is much lower than a magazine Newspaper life is 1 day – ad is in recycle bin the very next day Newspapers are being purchased less due to growing online readership

Online Pros Cheap Reaches LARGE audiences Can target Internet users based on demographic area, age, and gender Cons Many do not trust these types of ads

New product Awesome Electronics’ company is coming out with a new product and they are looking for a new advertising firm to do their marketing. This is a type of new headphones that will change iTunes forever. These headphones will sense your mood and then suggest iTunes songs that you should listen to to go with your mood. Based on our class discussions of pros & cons of each media, select a medium that would be best to advertise this product, and create an effective advertisement