Podcast
Questions and Answers
Which category of traditional marketing includes advertisements in newspapers, newsletters, and brochures?
Which category of traditional marketing includes advertisements in newspapers, newsletters, and brochures?
- Print (correct)
- Broadcast
- Telemarketing
- Direct Mail
What is the first step in developing a traditional marketing plan?
What is the first step in developing a traditional marketing plan?
- Arranging the advertising space purchase
- Measuring campaign results
- Choosing the delivery channel (correct)
- Testing the marketing messages
Which marketing category involves calling consumers over the phone?
Which marketing category involves calling consumers over the phone?
- Broadcast
- Telemarketing (correct)
- Direct Mail
When might a business prefer using direct mail over other marketing strategies?
When might a business prefer using direct mail over other marketing strategies?
What is a key consideration when purchasing advertising space for print media?
What is a key consideration when purchasing advertising space for print media?
Which of the following is NOT a channel for traditional marketing?
Which of the following is NOT a channel for traditional marketing?
In larger companies, who typically contributes to the planning of traditional marketing campaigns?
In larger companies, who typically contributes to the planning of traditional marketing campaigns?
Which traditional marketing method allows materials to remain in consumers' hands for an extended period?
Which traditional marketing method allows materials to remain in consumers' hands for an extended period?
How far in advance must an advertisement in Sports Illustrated magazine be reserved?
How far in advance must an advertisement in Sports Illustrated magazine be reserved?
Which type of advertising generated more than $17 billion in ad revenue during 2011?
Which type of advertising generated more than $17 billion in ad revenue during 2011?
What is the primary responsibility of a brand manager?
What is the primary responsibility of a brand manager?
What form of advertising is considered the least ignored by its audience?
What form of advertising is considered the least ignored by its audience?
In the UK, what percentage of people find television advertising the most impactful?
In the UK, what percentage of people find television advertising the most impactful?
Which form of advertising had the highest ad revenue in the United States in 2011?
Which form of advertising had the highest ad revenue in the United States in 2011?
What is a common requirement for telemarketing advertising?
What is a common requirement for telemarketing advertising?
How much ad revenue does print advertising generate every year?
How much ad revenue does print advertising generate every year?
What type of marketing involves delivering sales messages over the phone?
What type of marketing involves delivering sales messages over the phone?
Which of the following is considered a form of print marketing?
Which of the following is considered a form of print marketing?
What important event in the history of broadcast marketing occurred in 1920?
What important event in the history of broadcast marketing occurred in 1920?
What are the primary components of traditional marketing commonly referred to as?
What are the primary components of traditional marketing commonly referred to as?
Which of the following is a characteristic of direct mail marketing?
Which of the following is a characteristic of direct mail marketing?
What is one significant issue associated with modern telemarketing?
What is one significant issue associated with modern telemarketing?
When did the first television commercial air?
When did the first television commercial air?
What was one of the earliest examples of direct mail marketing?
What was one of the earliest examples of direct mail marketing?
What is one of the main responsibilities of a brand manager?
What is one of the main responsibilities of a brand manager?
What is the minimum educational requirement for an advertising sales director?
What is the minimum educational requirement for an advertising sales director?
How many years of experience does a brand manager typically require in lower marketing positions?
How many years of experience does a brand manager typically require in lower marketing positions?
What does a media director manage?
What does a media director manage?
Which of the following is NOT typically required for a media director?
Which of the following is NOT typically required for a media director?
What role do brand managers play in terms of the brand's public image?
What role do brand managers play in terms of the brand's public image?
Which position typically requires the most years of experience in marketing?
Which position typically requires the most years of experience in marketing?
What educational background is common for someone aspiring to be a media director?
What educational background is common for someone aspiring to be a media director?
What was Adam Smith's conception of man in economic theory?
What was Adam Smith's conception of man in economic theory?
What was Ricardo's perspective on the economic landscape?
What was Ricardo's perspective on the economic landscape?
How did Alfred Marshall's views align with business interests?
How did Alfred Marshall's views align with business interests?
What critical shift occurred in the market due to the Industrial Revolution?
What critical shift occurred in the market due to the Industrial Revolution?
What assumption did classical economists make about market knowledge?
What assumption did classical economists make about market knowledge?
Which marketing strategy is NOT considered a traditional approach?
Which marketing strategy is NOT considered a traditional approach?
What aspect became increasingly important with the expansion of markets?
What aspect became increasingly important with the expansion of markets?
What did the classical economists believe about production and demand?
What did the classical economists believe about production and demand?
Flashcards are hidden until you start studying
Study Notes
Economic Theories and Consumer Consideration
- Adam Smith conceptualized the "economic man" focused on improving personal welfare, leading to natural competition.
- David Ricardo identified the risks of economic expansion and the growing inequality from the factory system.
- Alfred Marshall emphasized market cooperation and aligned his theories with businessmen's short-term interests.
- Austrian economists in the late 19th century began to prioritize consumer-centric approaches in economic theory.
Market Expansion and Economic Shifts
- Classical economists viewed markets as local, assuming perfect competition due to mutual awareness among suppliers and demanders.
- The Industrial Revolution transformed markets, emphasized the importance of information and product satisfaction.
- The shift from agriculture to industry created a buyers' market, challenging previous production-centric economic theories.
Traditional Marketing Overview
- Traditional marketing includes print, broadcast, direct mail, and telemarketing strategies.
- Print marketing, the oldest form, uses advertisements in newspapers and magazines; originated in ancient times with Egyptians.
- Broadcast marketing encompasses radio and television; the first commercial radio aired in 1920, with TV advertising starting in 1941.
- Direct mail involves sending physical advertisements, such as catalogs and flyers, to consumers; Sears Catalog was a pioneer from 1888.
- Telemarketing consists of phone-based sales efforts; it faces regulations due to aggressive techniques.
Components of Traditional Marketing Plans
- Traditional marketing emphasizes the 4Ps: Product, Promotion, Price, Place.
- Creating targeted content enhances customer experience and influences purchasing behavior.
- Businesses select specific channels (e.g., print vs. broadcast) based on budgets and marketing objectives.
- Print and broadcast require purchasing ad space; timing and lead times vary by medium (e.g., magazines need weeks in advance).
Insights into Traditional Marketing Effectiveness
- Television commanded the highest ad revenue in the U.S. at $78.5 billion in 2011, deemed impactful by 57% of UK viewers.
- Newspaper advertising contributed to 15% of perceived impactful ads in the UK; print advertising generates nearly $30 billion yearly.
- Radio advertising produced over $17 billion in 2011, being least ignored compared to other mediums.
Careers in Marketing
- Brand managers oversee marketing strategies for products/brands, coordinating marketing teams and efforts across various departments.
- A bachelor’s degree in marketing or advertising and experience in lower marketing roles are typically required for brand management.
- Advertising sales directors govern company advertising strategies, needing a bachelor’s degree in relevant fields and extensive experience.
- Media directors work in advertising agencies, managing the logistics of ad placements, requiring a degree in sales or marketing.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
