Advertising. Chapter 11.1. Step by Step. Advertising is: Paid, non-personal communication between an identified sponsor and a potential customer about a product or service. Sports teams and entertainment venues frequently partner with sponsors to advertise before and during a game or event.
Paid, non-personal communication between an identified sponsor and a potential customer about a product or service.
Sports teams and entertainment venues frequently partner with sponsors to advertise before and during a game or event.
This partnership adds a source of revenue for the team or venue and gives the sponsor access to its potential target customers.
To be cost effective, the advertiser must research and plan carefully each step of the advertising process.
Determining a specific, measurable goal is the first step in the advertising process.
A company must decide what it wants to accomplish by advertising and how it will know that the goals has been met.
Brand recognition refers to the number of people who recognize the brand name of the product.
The methods used to determine the advertising budget are varied. Some of those methods include:
Marginal Analysis is a technique of setting the advertising budget by assuming the point at which an additional dollar spent on advertising equals additional profit.
Percent of Sales is a method of determining the advertising budget based on an analysis of past sales as well as a forecast of future sales.
Bartering is exchanging merchandise or something other than money for advertising time or space.
The goal of the ad and the product or service will drive the selection of a theme.
The theme of an ad is also known as the tag line.
The tag line is usually a slogan that conveys the main message of the ad.
Media strategy is choosing the media that will bring the most effective advertising message to the targeted consumer.
Information about the reach of the media, or which targeted demographic segments are most likely to be reached, is a factor in setting the media strategy.
With the goal, budget, theme, and media selected, the advertisement is on its way to being completed.
The creative talent in the advertising firm or department writes the copy.
Copy is the spoken or printed words in an advertisement.
Artwork or photographs are added to copy to enhance viewers’ interest and grab their attention.
Wear out occurs when an ad loses its effectiveness due to overexposure or poor message quality.
Marketing research data provide demographic information about the target customer and the frequency.
Frequency is the number of times the targeted customer is exposed to the media.
The most cost-effective media provide the greatest reach and the highest frequency at the lowest cost.
Concentration strategy is buying space in or time on a single medium.
Dominance strategy is when a firm buys the maximum reach and frequency in one medium and purchases additional space in or time on other media.
Determining the effectiveness of advertising is critical.
If the ad does not meet its goals, then the cost and efforts have been wasted.
Response rate refers to the number of customers who connect with and act in relation to the ad.
Response data can be collected, compiled, and examined.
Axe made maximum use of the dominance strategy when selecting media to reach its target market.
Targeted college-age males
Sent samples of the product to thousands of male college students.
Recipients were also offered a chance to attend a huge party.
Young women were hired to stand in stores and spray the product on young men.
Print advertisements and broadcast media were used extensively to advertise the product and party.
The party was filmed and shown as an hour-long special on a cable television network.