Marketing 405 Final PDF

Chapter 12 - 3: Measured vs Unmeasured Media - Media can be classified as - Above-the line promotions (aka traditional media advertising/measured media): TV, radio, magazines, newspaper, outdoor, etc. - Closely measured to dete...

Chapter 12 - 3: Measured vs Unmeasured Media - Media can be classified as - Above-the line promotions (aka traditional media advertising/measured media): TV, radio, magazines, newspaper, outdoor, etc. - Closely measured to determine advertising costs and effectiveness - Below-the-line promotions (aka promotional effort/unmeasured media): In-store promotions, coupons, product placement, events, etc. - less formally measured for advertising costs and effectiveness - 4: Media Planning Terms - Media Plan: A strategy for placing ads in media to reach the target audience. - Media Class: A broad type of media (e.g., TV, radio, newspapers). - Media Vehicle: A specific option within a media class (e.g., People magazine). - Media Mix: The combination of media types to best reach the audience. - Geographic Scope: The area where your ads will be shown. - Geo-targeting: Placing ads in regions where people are more likely to buy. - Geofencing: Tracking people’s locations via smartphones to target ads in specific areas. - Micro-targeting: Sending personalized messages directly to individuals or small groups. - Reach: The percentage of your audience that sees your ad at least once. - Frequency: The average number of times each person sees your ad. - Effective Reach: The percentage of your audience that sees your ad enough times to make an impact. - Effective Frequency: The number of times someone needs to see your ad for it to work - Continuity: A plan for how ads are placed over time in a media schedule. - Continuous Scheduling: Ads are run steadily at the same rate over a period of time. - Flighting: Ads run heavily for a short time, stop completely, then run heavily again later. - Pulsing: Ads run continuously but with periods where more ads are shown during certain times. - 12: Competitive Media Assessment and Share of Voice - A competitive media assessment is crucial when competitors target a very specific audience - Assessment of how competitors are spending in media - Share of Voice: Advertisers need to check how their brand's ad spending compares to competitors - Percent of the total advertising in a category (e.g., autos) spent by one brand (e.g., Ford). - Share of voice = one brand′s advertising expenditures in a medium/total product category advertising expenditures in a medium  - 16: Media Efficiency - Each type of media in a media plan needs to be reviewed to see how effectively it reaches the audience - A common measure of media efficiency is cost per thousand (CPM). - CPM = (cost of media buy × 1,000)/total audience - CPM helps compare the cost-effectiveness of different media options. - Digital/Internet Media - With a few exceptions, Internet or digital media are pull media. - Consumer has more control (consumers seek it out) - Most traditional media is usually push media. - 26: Media Buying & Programmatic Media Buying - After finalizing the media plan and schedule, the next step is media buying - Media Buying: Reserving TV, radio, or digital ad slots, and print media space according to the schedule set for a specific client. - Programmatic Media Buying: Automatically purchasing ads using data like online consumer behavior to target the right audience. - E.g. Lululemon automatically buys ad space on health sites, targeting users who recently searched for workouts or fitness gear, reaching an audience with relevant interests. - Agency of Record: The main advertising agency chosen by a company to handle all media buying for ad placements. Chapter 13 - Pages 33: The present & future of traditional mass media - Traditional media remains important and is evolving, not disappearing. - Traditional media has adapted to work with digital platforms. - Consumers choose and control their media content. - Viral videos and social media shape brand perceptions. - Advertisers focus on cost-effective digital and social media. - Successful campaigns will merge digital and traditional media. - 42: Television - Television Categories - Network TV: Broadcasts programs over airwaves to affiliated stations across the U.S. under contract. e.g. ABC, NBC, CBS. - Cable TV: Transmits various programming to subscribers via wires instead of airwaves. e.g. Comcast, Spectrum, Cox. - Video on Demand (VOD): A cable service allowing subscribers to watch selected videos anytime. e.g. HBO On Demand, Xfinity On Demand, Hulu Live TV (includes VOD). - Over-the-Top (OTT): Delivers content directly to viewers over the internet, bypassing traditional cable or satellite systems. e.g. Netflix, Amazon Prime Video, Disney+ - 45: Measuring Television Audiences  - TV Households: Estimate of HHs in a market that own a television. - Households Using TV (HUT): Number of HHs watching a specific program during a time period. - Program Rating: Percentage of TV HHs in a market watching a specific program at a given time. - Ratings Point: Indicates that 1% of all TV HHs in an area watched the measured program. - Share of Audience: Proportion of HHs using TV at a specific time that are tuned to a particular program. Chapter 14 - Pages 59: Media Types in Social Media - Earned media: The incremental exposure that a brand earns through viral engagement and consumer interactions with the brand - Earned in a natural way instead of having to pay for it - Owned media: Media that the brand or organization owns - It may require some investment but doesn’t always involve payments for media placements. - Paid media: Advertisements that are paid for on social media or other media - 67: Digital Advertising - Cost-per-click (CPC): Digital advertising revenue model based on cost-per-thousand exposures. - The advertiser can pay for a pulled exposure rather than a message pushed to all watching that TV channel or reading that magazine - Post ads: Ads in social media posts that receive higher engagement rates by appearing alongside content shared by friends and influencers. - Native advertising: Ads that blend in with content, like in a news feed. - App ads: Ads within apps on the web, tablet, or smartphone associated with a third party. - Display ads: Ads placed on websites with editorial content. - Retargeting: Showing digital ads to consumers based on websites or content they’ve previously - Search: The stage in consumer behavior where customers look for information or products online or offline. - Paid search: When advertisers pay websites to place ads next to relevant search results based on keywords. - Search engine optimization (SEO): Strategies used to enhance a company’s visibility on search engines. - 73: Synergizing with Other IBP Tools - Options: - Advergaming: Advertising and brand placement within video games. - Coupons: online and offline - Contests and Sweepstakes - Sampling, Trial Offers, Price-Off Deals  - Public Relations and Publicity - Direct Marketing (e.g. email) and E-Commerce - Mobile marketing (a form of direct marketing) is a big opportunity to reach consumers. Chapter 15 - Pages 4: Sales Promotion and Types - Sales promotion aims to boost sales quickly using incentives. - Types of Sales Promotions: - Consumer Promotions: Coupons, discounts, free gifts, contests. - Trade Promotions: Point-of-Purchase (POP) displays, TPR (temporary price reduction), incentives for salespeople. - B2B: Trade shows, incentives, loyalty programs. - 6: Importance and Growth of Sales Promotions - Sales promotions are used to get customers to buy something right away. - e.g. coupons, samples, rebates, contests, and sweepstakes. - Price promotions (like coupons) work especially well for everyday products. - Loyalty programs reward customers for sticking with a brand. - e.g. airline frequent flyer programs, hotel reward program, or grocery store reward cards. - Companies are shifting from traditional advertising to more sales promotions to get consumers to try and buy products. - Running effective sales promotions requires a commitment from company. - 8 - 10: Why are sales promotions becoming more popular? - Measurable Results: It's easier to see if they're working. - Companies want to see a return on their investment. - Focus on short-term gains: Many companies prioritize quick results.  - Consumers like deals: “Savvy/price-conscious shoppers" are always looking for the best value. - 13: Growth of Sales Promotions - Too many brands: So many new products are launched that it's hard for consumers to keep track. - Retailers have more power: They pressure manufacturers to offer more deals. - Advertising overload: consumers tune out too many ads, so promotions standout more. - 16: Objectives for Consumer Sales Promotion - Stimulate Trial Purchase - Discounts or rebates make it less risky to try something new. - Stimulate Repeat Purchases - Frequent-purchase or loyalty programs are best - Stimulate Larger Purchases - This helps companies sell more product quickly. - Introduce a new brand, product, or service - Attract attention to a new brand, product, or service - Combat or disrupt competitors’ strategies - A timely consumer promo with deep discounts or larger quantities can disrupt a competitor's new brand launch. - Contribute to Integrated Brand Promotion - Consumer promos suggest an additional value, with price reductions, bundle offers, etc. - 23–33 - - Price-off deals refer to temporary discounts or reductions in the retail price of specific items. - Direct discounts (e.g., "$1 off" or "20% off") - Bulk savings (e.g., "Buy one, get one 50% off" or "Save on multi-packs") - Clearance markdowns for items nearing expiration - Premiums Free or discounted items offered with another purchase.  - Contests: Consumers compete for prizes based on skill or ability; determined - by a panel of judges - Sweepstakes: Winners are randomly selected. - Sampling allows consumers to use a brand on a trial basis with little to no risk. - In-store sampling: Popular for food products and cosmetics. - Mail sampling: Samples delivered through the mail - On-package sampling: Sample is attached to another product’s package - Trial offers have the same goal as sampling but with more expensive products. e.g. subscriptions - Gift cards: Prepaid cards with a set spending limit. - Rebates: Money back from the manufacturer (not the store). These can increase sales, but many people don't bother to redeem them - Loyalty programs: Reward consumers for repeat business. - Can also be called continuity or frequency programs. - Popular in many industries (airlines, hotels, retail, etc.). - Can be customized to different consumer groups. - 35: Promotion Options: - Incentives: Rewards for hitting sales targets. - Allowances: Merchandise allowances: Free products given as payment for setting up displays. - Slotting fees: Payments to stores to get shelf space. - Bill-back allowances: Money for featuring the brand in ads or displays. - Off-invoice allowances: Discounts on merchandise. - 38: Point-of-purchase advertising - refers to materials in retail settings that attract shoppers’ attention. - Objectives: - Draw attention to a brand in the retail setting. - Maintain purchase loyalty among loyal users. - Stimulate increased usage of the brand. - Stimulate trial use by other brands’ users. Chapter 18 - Pages 49: Objectives for PR - Promoting goodwill: An image-building function of public relations - Promoting a product or service: Press releases, events, or brand “news” that increase public awareness of a company’s brands - Preparing internal communications: Sharing and correcting misinformation within a company - Counteracting negative publicity: The damage-control function of public relations - Lobbying: The public relations function can assist a company in dealing with government officials and pending legislation - Giving advice and counsel: Assisting management in determining what (if any) position to take on public issues, preparing employees for public appearances, and helping management anticipate public reactions - 52: Tools of PR - Press Releases: Share event details (who, what, when, where, why) to attract attention and sponsors. Drawback: Limited control over media use or edits. - Feature Stories: Offer journalists exclusive, in-depth content for longer articles. - Company Newsletters/E-Newsletters: Share positive news with employees. - Interviews and Press Conferences: Used for key announcements or crisis management. - Sponsored Events: Displaying the company’s name and logo shows community support. - Publicity: PR manages media coverage, but companies can't control what’s said. - Credible news sources make publicity more impactful, and non-profits often use it for visibility. - 56: Proactive Strategy - Companies need a comprehensive PR program to implement a proactive PR strategy. - e.g. Nasoya uses a proactive PR strategy by promoting its plant-based products and sustainability efforts. Through partnerships, media coverage, and community engagement, Nasoya strengthens its brand as a leader in plant-based foods, aligning with consumers' health and eco-conscious values. - 57: Reactive Strategy: - Companies need a reactive PR strategy to address negative publicity caused by - external events. - A reactive strategy focuses on problem-solving. - PepsiCo used a reactive PR strategy when Mountain Dew faced backlash over a controversial ad. The company quickly apologized, pulled the ad, and engaged with affected groups to manage the negative publicity and restore trust. - 58: Influencer Marketing and Social Media for PR Strategy - Integrating PR into an IBP program is crucial, and having the right team is essential. - Influencer marketing can give consumers “something to talk about.” - 59: Influencer Marketing and Social Media for PR Strategy - Paid Influence Programs: Using experts to generate word-of-mouth referrals. - Information from micro-influencers is perceived as more personal than that from macro-influencers. - This approach involves starting conversations between consumers, influencers, and the brand. - Building trust with professional influencers requires long-term commitment.