Advertising Reviewer Midterms PDF

ADVERTISING REVIEWER MIDTERMS LESSON 1: AN INTRODUCTION Advertising – the word advertising originates from a latin word “advertise” meaning “to give public notice or to announ...

ADVERTISING REVIEWER MIDTERMS LESSON 1: AN INTRODUCTION Advertising – the word advertising originates from a latin word “advertise” meaning “to give public notice or to announce publicly”. Marketing Mix  Price  Place  Promotion  Product Elements of Promotion Mix 1. Advertising – any paid form on non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. Examples: Broadcast, Print, Internet and Mobile 2. Sales Promotion – short-term incentives to encourage purchase/sale of a product or service. Examples: Discounts, Displays, Coupons and Demonstrations 3. Personal Selling – personal presentation by the firm sales force. Examples: Sales Presentation, Trade Shows and Incentive Programs 4. Public Relations – building good relationship with the company’s various publics by obtaining favorable publicity. Examples: Press release, Sponshorships, Events and Web pages 5. Direct Marketing – direct connections with carefully targeted individual consumers to both obtain an immediate response. Examples: Catalogs, Direct-response, TV, Kiosk, Internet and Mobile Marketing Reasons of Advertising To announce new products or service To expand to new buyers To announce a modification To announce price change To announce a new pack To make special offer To invite inquiries To sell direct To test a medium To educate customers To maintain sales To remind To get back lost sales To recruit staff To attract investors To export Active Participants in Advertising  Advertiser  Target Audience  Advertising Agencies  Advertising Production People  Mass Media  Government Authorities  Advertising Production Firms What is included in Advertising?  Information of Advertising should benefit buyers  Should suggest better solutions to their problems  Function of Advertising is to increase profitable sales volume What is excluded in Advertising? o Advertising is not a Game o Advertising is not a Toy o Advertisements are not designed to deceive Origin and Development of Advertising Primitive Times – uses loud voices to advertise Johann Gutenberg – there are 3 forms of advertising; trademarks, signs and town criers Importance of Advertising It is a powerful tool that helps to attract customers to inform about the product to build trust. William Bernbach – the most powerful element in advertising is the truth.  ADVERTISING REVIEWER MIDTERMS LESSON 2: ETHICS IN ADVERTISING Advertising plays a significant role in marketing goods and services. Without advertising, the consumers would not be aware of the presence of the different products and services available in the market. Philip Kotler – according to this famous guru, defines advertising as “any paid form on personal presentation and promotion of ideas, goods or services by an identified sponsor”. ETHICS MORALITY Critical reflection of morals. Philosophical From the latin word “moralitas” means manner, reflection about the nature of the good life, character and proper behavior. It is the conduct right action, duty and obligation. It is or rules that a person or community adhere to, theoretical. believing this things to be, in some sense obligatory. Do you think Advertising itself is bad or immoral? o Advertising is not bad or immoral since it helps the goals of both seller and buyer. o It only becomes immoral when attempting to persuade customers, it becomes deceptive, misleading and manipulative. Primary Function of Advertising  Is to sell goods Advertising is not totally Immoral. It becomes unethical when it becomes: 1. Misleading Advertisement – do not misinterpret, not make false claims. 2. Deceptive Advertisement – makes false statement, misrepresents the products. 3. Manipulative Advertisement – employs exaggerated claims and using trickery means/false information. Philippine Laws on Advertising CONSUMER ACT OF THE PHILIPPINES R.A. 7394 Article 108 declares that “the state shall protect the consumers from misleading advertisements and fraudulent sales promotion practices”. Philippine Association of the National Advertisers (PANA) The PANA issued a code of ethics which includes the following statements of general principles: Good advertising recognizes both its economic and social responsibility to help reduce distribution costs and serve the public interest. Good advertising aims to inform the consumers and help them buy intelligently. Good advertising seeks public acceptance on the basis of positive and constructive statements, made on the merits of the product or service advertised rather than by competition. Good advertisement does not allow any activity that involves the exploitation of the good will, attached to any other firm, product or services. It does not imitate trademarks, packages, labels and such advertising devices as illustrations, copy, layouts or slogans. Ethical and Moral Principles of Advertising 1. Truthfulness in Advertising – accurate information Why is it important to be truthful in advertising? Can create an unfair advantage for the advertiser over competitors who engages in truthfulness. 2. The Dignity of the human person – respect the human person, his right to make choices. 3. Advertising and Social Responsibility – shall be ethical in which individuals are accountable for fulfilling actions thus must benefit the whole society. Benefits of Advertising Advantages Disadvantages Helps in market expansion Impact on sales is uncertain Leads to increased sales and revenue Negative publicity risks Provides competitive advantage Challenge of high advertising costs for small businesses Builds brand awareness and recognition Creates monopoly through aggressive advertising Empowers consumers through informative Communicates misleading information advertising  ADVERTISING REVIEWER MIDTERMS LESSON 4: ADVERTISING PLANNING FRAMEWORK Advertising Planning Framework – a structured approach used to develop and execute effective advertising campaigns. Helps to ensure the elements of the campaign, from objectives to evaluation are aligned and contribute to the overall marketing goals. Components of an Advertising Planning Framework 1. Situation Analysis Internal Analysis – evaluating company’s SWOT. External Analysis – assessing the competitive landscape, economic factors, technological advancements, socio-cultural trends and legal regulations. 2. Objectives SMART Goals – set specific, measurable, achievable, relevant and time-bound objectives. Types of Objectives – sales, market share, brand awareness, brand image, customer satisfaction, etc. 3. Target Audience Segmentation – divide market based on demographics, psychographics, behavior or geographics. Targeting – selecting most suitable target segments. Profiling – creating detailed profile of the target market 4. Message Development Creative Brief – outlining key message, target audience, brand positioning and desired tone and style. Copywriting – develop persuasive advertising copy. Design – creates appealing visuals and memorable advertising. 5. Media Planning Media Mix – determine the combination of media channels. Media Scheduling – plan timing and frequency. Budget Allocation – allocating advertising budgets across media channels and placements. 6. Budgeting Determine Budget – allocate specific amount for advertising campaign. Cost Analysis – estimate cost of different activities. Budget Tracking – monitor and manage advertising budget.’ 7. Evaluation KPI’s – track the effectiveness of the campaign. Post-campaign Analysis – evaluate the results against the set objectives. Learnings – identifying areas for improvements and apply insights. Advertising Plan – a comprehensive document outlining the strategies and tactics a business will use to achieve its advertising objectives. It serves as a roadmap, guiding the creation and execution of advertising campaigns. It is an essential tool for business seeking to achieve marketing objectives. It helps to maximize their advertising efforts and drive growth. Advertising Plan includes the following key elements: 1. Executive Summary – concise overview of the plan’s goals, strategies and key messages. 2. Situation Analysis – assessment of the current market, competition, target audience, and company’s strengths and weaknesses. 3. Advertising Objectives – clear, measurable that the advertising campaign aims to achieve increasing brand awareness, generating leads or boosting sales. 4. Target Audience – detailed profile of the ideal customer. 5. Advertising Message – the core message that the campaign will convey to the target audience. 6. Media Strategy – a plan for selecting the most effective and advertising channels. 7. Creative Brief – instructions for the creative team, outlining the desired tone and style and elements of the advertising materials. 8. Budget – breakdown of the cost. 9. Measurement and Evaluation – plan for tracking campaign’s performance and measured effectiveness.