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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

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6 factors that drive consumer purchase
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
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
Marketing ISN’T
  • Production
  • Manufacturing
marketing
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
Advertising
  • PAID promotion of good or service
  • Mass media
  • Targets certain consumers
target market
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
What makes an effective ad?
  • BrightBOLDcolourand 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
Types of advertisingmedia
  • Direct to home/flyers
  • Billboard
  • Radio
  • Television
  • Transit
  • Magazine
  • Newspaper
  • Online (Facebook or other social media sites)
direct to home flyer
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
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
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
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
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
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
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
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
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