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What are the factors affecting Brand Image?

By BMS Team on June 6, 2012 in Special Studies in Marketing BRAND IMAGE &VARIOUS FACTORS AFFECTING IT Brand Relationship = Brand Image + Brand Attitude Brand Image = Brand Associations + Brand Personality Brand Associations = Link up in memory with brands attributes benefits and looks Brand Looks = Brand Symbol + Brand Name Brand Symbol = Brand Character + Brand Logo

Brand image is one of the two critical elements of brand relationship. It is a combination of association and personality of a brand. Brand image includes a set of BAs usually structured in a logical fashion. For example- Sunsilk helps one have good healthy hair and good knight helps one ensure a good sleep for the family. One or more BAs can generate a brand image and while reading a brand image statement based on BA quite often one may feel like reading a BA statement as both are closely linked.

Associations can exist on a host of parameters/aspects such as- provides immediate relief, relief does not last long is affordable, is easy to get has no side effects it is okay for children doesnt have a bad taste its smell is somewhat floral etc. similarly image based on BA can exist on a range of factors like quality, effectiveness, value for money etc.

BRAND IMAGE = Brand Associations + Brand Personality

What factors should be considered for selecting an Ad Agency?


By BMS Team on June 6, 2012 in Special Studies in Marketing SELECTION OF AN ADVERTISING AGENCY

First and foremost, the agency must be known. Previously unknown agencies are not preferred. Secondly, the agency must have creativity. Creative people are a little crazy, nonconformists. Creativity does not follow any logical pattern. Creative people are like naughty children. The secret of creativity is simplicity.

Thirdly, the agency must have a sound track record, a good deal of experience. Fourthly, the accounts executive must have ability to understand the clients problems.

Fifthly, you may look t the accounts they handle, and the accounts they have gained and lost. In other words, the work they have produced for other clients does matter.

Sixthly, the personal equation of the client with the agency also matters. If you know them personally, they are compatible with you.

Seventhly, their ability and presentation may make you opt for them. Premier Auto (the company that makes Fiat cars) was shopping around for an agency to launch its 118 NE. It invited presentations from various agencies and then shifted its account from its old agency Sistas to Ulka. More and more clients prefer to invite presentations for campaigns of new products and then award the campaign to the agency who they think has made the best presentations.

Lastly, there are some unique considerations, some prefer a small, some a medium, some a large agency. Increasingly, clients prefer to fragment their business, giving different products to different agencies.

Other factors that need consideration is the staff of the agency and its caliber, its flexibility, practical and consumer oriented approach, the use it makes of MR, its media understanding, the attention it gives to the client, its growth, the ability to handle below-the-line publicity and its international tie-ups.

So creativity, commitment to client and the quality of its top management go a long way in the selection of an agency. Unfortunately many think Creativity is just another way of saying, I like the agency.

EVALUATION OF AN ADVERTISING AGENCY

The agency is evaluated on the past performance. The number of clients it holds. (For e.g. O & M works on 240 brands at a time) The reputation the agency has in advertising circles (JWT is renowned for its reputation) The particular USP of the agency (on what areas the agency is specialized in, for e.g. O&M is known for creativity. R.K Swamy BBDO is renowned for print; Leo Burnett is renowned for consumer insights. Timely delivery of advertising materials (especially for Cola ads)

Explain the Functions of an Advertising Agency


By BMS Team on June 6, 2012 in Special Studies in Marketing FUNCTIONS OF AN ADVERTISING AGENCY

Big agencies like JWT, O&M, and LOWE are called full service advertising agencies because they are ONE STOP SHOP for all services that are offered to the clients. Todays agencies are providing total communications packages for the client brands. They are acting as the custodians of the brands of the clients.

1. CLIENT SERVICING: Also called as Accounts executives. He is link between the agency and clients. He suggests what the client exactly wants to his advertising agency. He is the one who carries the client brief and is also responsible for approvals.

2. THE CREATIVE DEPARTMENT: Under the Creative Director there are a team of Copywriters and Visualisers who arrive at the BIG IDEA. Accordingly the storyboard is prepared and script work is done. The final layout is sent to the client for approval.

3. THE PRODUCTION DEPARTMENT: The production department is responsible to convert the storyboard in to a finished layout (technical storyboard if its for print medium or outdoor. However, the television commercial will be outsourced to a production house (like Prasoon Pandeys CORCOISE FILMS). The final storyboard is made into a technical storyboard, before it goes for shooting.

4. THE MEDIA DEPT.: The Media Planner along with the Media manager and brand manager/media dept of the client prepares the final media budget and purchases Insertions for print media (space buying) or purchases radio spots if its for Radio or purchases TV time if its on television. Appropriate media mix is developed.

5. RESEARCH DEPT.: In fact Research dept functions before and after a commercial is made; for pre-testing and post-testing of media respectively consumer insights and brand usages are also tested at times according to client in many situations

6. THE FINANCE DEPT (ACCOUNTING): This dept looks after the accounts (financial records) for the agency.

7. STRATEGIC PLANNING: Strategic planning is a heart of an advertising agency. It will be headed by VP Strategic Planning and assisted by strategic planners. These days the clients require a well prepared advertising strategy before the design of the advertisement and hence strategic planning has grown past 4 years. Usually MBAs from reputed management institutes are recruited in these dept. big agencies have a strong Strategic Planning dept whereas in small and medium agencies, it is handled by the creative dept itself. DEFINITION OF AN ADVERTISING AGENCY It is the core of advertising profession and industry. An advertising agency is: a) An independent business organization b) Composed of creative and business people c) Who develop, prepare and place advertising on advertising media

d) For sellers seeking to find customers for their goods and services -American Advertising Agency Association (AAA) There are an estimated 200 advertising agencies in India accredited to INS (Indian Newspaper Society- to be eligible for 15 percent commission) and 8000 odd agencies which are unregistered. Together they serve 6000 clients in India.

Four Key Functions of an Ad agency

ACCOUNT MANAGEMENT

Account Management is the pivot on which the entire agencys work revolves. Also called as Client Servicing or suits, it is the agencys big window to the outside world. The suits are the agencys face to the client. They interact with the clients, take briefs and understand the marketing issues involved. Internally, they brief the creative and media on the jobs and co-ordinate the entire work processes inside the agency. They evaluate the ad campaign and media plan internally and often present these to the clients.

ACCOUNT PLANNING

It is the second core function in the agency. It is also referred to as strategic planning. However, all agencies do not necessarily have a separate unit for planning. In some agencies account management takes care of the strategic planning involved in their respective brands. Whether as a separate unit or not, planning is the research face of the agency. However they rarely conduct research themselves, though sometimes they may co-ordinate it through research agencies if required.

CREATIVES

Creative form the third core function of the agency. They are also at the core of the production process of the agency as they are the ones who create ads. Generally, the copywriters write the headline and copy and the art directors do the visualizations and layouts. But often they ideate and work together. A headline may come from the art

person and visualizations from the writer. Creatives are the agencies lifeline the one who can make or break the agency.

What are the Key Functions of an Ad agency?


By BMS Team on June 6, 2012 in Special Studies in Marketing INTRODUCTION TO ADVERTISING AGENCY

Media forms the fourth and the last core function of an agency. With increased media fragmentations, media planning and media buying have emerged as two specialized functions within media. Sometimes the planners may also extend expertise to the both. Media planning involves a lot of number crunching and good

quantitative abilities are a critical requirement. Media Buyers not only look other media relations and negotiate rates but also supervise the media operational word like sending release order and ad material to the respective media. They also monitor releases.

THE WORLDS TOP TEN ADVERTISING AGENCIES

WPP GROUP, LONDON (18485.3 BILLION) INTERPUBLIC GROUP, NEW YORK ( US $ 13,967 BILLION) OMNICOM GROUP, NEW YORK (US $ 13,839 BILLION) DENTSU, TOKYO (US $10846.3 BILLION) SAATCHI & BILLION) YOUNG & RUBICAM, NEW YORK( US $ 7559 BILLION) FRANCE (US $ 6508 BILLION) EURO RSCG, SAATCHI COMPETITORS , LONDON(US $ 10809

GREY ADVERTISING , NEW YORK( US $ 5171 BILLION) HAKUHODO, TOKYO (US $ 4938 BILLION)

FOOTE, CONE AND BELDING (FCB),CHICAGO ( US $5336 BILLION) SOURCE: THE ASIAN AGE

INDIAS TOP 5 ADVERTISING AGENCIES O & M, BANGLORE (RS.2500 CRORE) JWT, MUMBAI (RS 1800 CRORE) LOWE LINTAS & PARTNERS, MUMBAI( RS 1500 CRORE) MUDRA, DDB NEEDHAM, AHMEDABAD (RS1200 CRORE) FCB ULKA, NEW DELHI (RS.800 CRORE)

SOURCE: BRAND EQUITY, ECONOMICS TIMES

Explain the Five Ms of Advertising


By BMS Team on June 6, 2012 in Special Studies in Marketing INTRODUCTION

An outsiders perception of the work in an ad agency is one of glamour and glitz. It is often assumed that working in an ad agency means being surrounded by glam dolls and hunks. That it is a profession of high profile and high living with a lot of showmanship, socializing and partying. Till a few years ago people would have ranked it second only to the world of films in terms of the glamour co-efficient. But politics and fashions world have pushed it down the ladder a bit since.

Well, the real world of advertising is most certainly a world of high and intensity but in a different way. Though at a first glances an ad agency would seem like any other corporate office, often the similarity would end at the office reception. Once inside, you are in the battle zone.

The decibel levels and chaos is often striking arguably second only to the commodity and stock exchange pits. So is the pressure of deadlines, client calls and chasing of work and people both inside and outside the agency. Usually a working day in the agency for

most people is long, hectic, unpredictable, stressful, full of drama, yet loads of fun, often including the weekends.

FIVE Ms OF ADVERTISING

Advertising is an important promotional tool for any marketing campaign. So much so that whenever we think of marketing we think of advertising although it is just one of the marketing tools. Today government bodies as well as non- government organizations go for high profile advertising campaigns. The purpose here is not to increase the sales figure but to increase the awareness of people regarding the relevant topics. Today the marketing manager has a range of advertising options to choose from- from interpersonal communication to Internet. Deciding on a correct option calls for detailed analysis aspects like objective behind advertising (Mission), companys earmarked budget (Money), content of communication through advertising (Message), advertising vehicle (Media) and impact of advertising (Measurement). These can be broadly classified as the five Ms of advertising.

MISSION

First of all the marketing manager must be clear on the companys purpose for advertising. Increase in sales figure will be a very broad and to a certain context a vague objective. According to Mr. Philip Kotler, a renowned authority in this field, there can be three possible objectives behind advertising:

Information- when a new product is launched, the purpose should only be to inform people about the product

Persuasion- Persuading people to actually go out and buy the product. This objective is of paramount importance because of cutthroat competition. Any advertisement must be persuasive in nature, attracting consumers towards the brand

Reminder: This objective is relevant for well-established companies. These types of advertisements only try to remind the consumers of the brand existence. For instance whenever we hear or read yeh dil maange more, we tend to think about Pepsi. Same way we tend to associate two minutes with Maggie noodles. The marketing manager

should establish a clear goal as on the purpose of advertising, information, persuasion or reminder.

MONEY After the objective has been decided upon, the next step is to decide upon the budget. There are several methods for deciding on the advertising budget. The most common among them is the percentage of sales method. Under this method, a certain percentage of sales are allotted for advertising expenditure. Though this method is used widely, there are some problems with this method. The first issue is what percentage the company should take? Even if a company somehow decides a percentage figure, this would mean increase in advertising expenditure when sales are up and less spending when sales are down. This in some ways is quite paradoxical, because logically the reverse should happen. The company needs to spend more on advertising when sales are down. But this method uses circular reasoning and views sales as cause for promotion. In fact sales are a result of promotion. Another method suggests that a company should spend as much as its competitors are spending. This method claims that it would prevent promotional wars. But then like each individual each company is also different. It may not make any sense in spending like your competitor because competitor might be on a different footing.

MESSAGE As a common experience, we love some advertisements, while the others just irritate us. An appealing advertising will win consumers and will consequently induce them to purchase the product. On the other hand, irritating advertising will create an adverse effect. This is why many companies hand over this task to advertising agencies, which has professionals to make impact -making ads. The message that company wants to convey should be put in a manner that will arouse interest. Moreover it should convincingly highlight upon the products USP. What is said is definitely important but what is more important is how it is said. The tone should be appealing. Words used should be catchy and retentive. These days both electronic as well as print media are overflowing with ads. People have no time to read or see them, and therefore they have to be attractive enough to target audiences attention. This is the job of message.

MEDIA Selecting the proper media vehicle for communicating the message goes a long way in the success of any kind of advertising. Each media vehicle has its positive and negative points with a different reach and impact. Therefore a company has to be very clear about its target audience. Choices available are Internet, TV, newspapers, magazines, direct mails, radio and hoardings. Everyone of this has its advantages and disadvantages. Companies often go in for a media mix, i.e. they select more than one of the available choices. Timing is of great significance here. Many industries face seasonal fluctuations and pass through cycles. Therefore advertising should be timed that way to

take care of these fluctuations. A limited budget should be prudently allotted among these media vehicles.

MEASUREMENT It is necessary that effectiveness of any advertising be judged. Only on the basis of this measurement, can further decisions regarding continuation or termination of the particular advertising campaign be taken. An ad can be judged on the basis of its reach and impact on sales. Good advertising is one that generates brand awareness and consequently brand preference. How much of sales can be attributed to advertising, is a difficult question to answer. Sales are influenced by many factors besides advertising. It is not easy to isolate the impact of advertising on sales. Nonetheless there are some advanced statistical techniques available that can be used with the help of computer softwares like SPSS. Thus a systematic and balanced understanding of these five Ms of advertising will help in designing better advertising campaigns that create a favorable impact on the target audience.

Explain the Advertising Model and Mc Cann Erickson Model


By BMS Team on June 6, 2012 in Special Studies in Marketing ADVERTISING EXPOSURE MODEL

First, exposure to the advertisement can create awareness about brand, leading to a feeling of familiarity with it. Second, information about the brands benefits & the attributes on which the benefits are based can register with the consumer can also result from exposure to the ad. Third, advertisements can also generate feelings in an audience that they begin to associate with the brand or its consumption. Fourth, through the choice of the spokesperson & image for the brand, often called brand personality. Fifth, the advertisements can create the impression that the brand is favored by the consumers peers, or experts- individuals & group the consumer likes to emulate. This is often how products & brands are presented as being fashionable. These five effects can create favorable liking, or attitude, towards the brand, which in turn should lead to purchasing action. Sometimes the advertisers will attempt to spur purchasing action directly by providing a reminder or by attacking reasons why the consumer may be postponing that action.

Mc CANN ERICKSON MODEL FOR COMMUNICATION

Mc CANN PULSE: Technique of transforming consumer information into consumer insight. + Mc FOOTPRINT: Method of transforming brands from one market opportunities into expanded multinational platforms. ^ Mc CANN SELLING: Transforming Consumer Insight into effective advertising.

These two models help us to understand how & why consumers acquire process &use advertising information. It is also important to at the planning stage to develop a good understanding of where advertising fits into the total pool of information & influence sources to which consumer is exposed. Understanding information processing invariably leads to the need for understanding a wide range of other important psychological constructs, such as perception, learning attitude formation & change, source of effects, brand personality & image.

Explain Integrated Marketing Communication (IMC)


By BMS Team on June 6, 2012 in Special Studies in Marketing INTEGRATED MARKETING COMMUNICATION (IMC) DEFINITION The process of managing all sources of information about a product service to which a customer or prospect is exposed which behaviorally moves the customer towards a sale and maintains customer loyalty. -Northwestern University, Medill School of Journalism

Review of Marketing Plan

Examine overall marketing plan & objectives Role of advertising & promotions Competitive analysis

Assess environmental influence

Analysis of Promotional Program Situation

Internal analysis

External analysis

Promotional department Organization Market Segmentation & Target Firms ability to implement Promotional program Review of previous program result Marketing Consumer Behavior Analysis

ANALYSIS OF COMMUNICATION PROCESS Analyze receivers response processes Analyze source, message, channel factors Establish communications goals & objectives

BUDGET DETERMINATION

Set tentative marketing communications budget Allocate tentative budget

DEVELOP INTEGRATED MARKETING COMMUNICATION PROGRAM Advertising: Set advertising objectives Determine advertising budget Develop advertising message Develop advertising media strategy

DIRECT MARKETING

Set direct marketing objectives Determine direct marketing budget Develop direct marketing message Develop direct marketing media strategy

INTERACTIVE/INTERNET MARKETING Set interactive/internet marketing objectives Determine interactive/internet marketing budget Develop interactive/internet message Develop interactive/internet media strategy

SALES PROMOTION

Set sales promotion objectives Determine sales promotion budget Develop sales promotion tools & develop messages Develop sales promotion media strategy

PUBLIC RELATION/PUBLICITY

Set PR/publicity objectives Determine PR/publicity budget Develop PR/publicity messages Develop PR/publicity media strategy

PERSONAL SELLING Set personal selling & sales objectives Determine personal selling & sales budget Develop sales messages Develop selling roles & responsibilities

INTEGRATE STRATEGIES

&

IMPLEMENT

MARKETING

COMMUNICATIONS

Integrate promotional mix strategies Create & produce ads Purchase media time, space, etc. Design & implement direct marketing programs Design & distribute sales promotion materials Design & implement PR/publicity programs Design & implement interactive/internet marketing programs MONITOR,

EVALUATE & PROGRAM

CONTROL INTEGRATED MARKETING COMMUNICATIONS

Evaluate promotional program results/effectives Take measures to control & adjust promotional strategies TOOLS OF IMC

ADVERTISING SALES PROMOTION Contests, Games, Sweepstakes, Lotteries Premiums and gifts Sampling

PUBLIC

PERSONAL

DIRECT MARKETING Catalogues

Print and Broadcast Ads Packaging Outer Packaging Inserts Motion Pictures

RELATIONS SELLING Press Kits Sales Presentations

Speeches

Sales Meetings Incentive Programmes Samples

Mailings

Seminars

Telemarketing

Fairs and trade shows Exhibits

Annual Report Charitable

Electronic Shopping

Brochures and

Fair & Trade

Booklets Posters and Leaflets Directories Reprints of Ads

Donations Demonstrations Sponsorships Coupons Publications Rebates Community Relations Lobbying

Shows

Billboards

Low interest Financing Entertainment

Display Signs

Identity Media Company Magazine Events

Point-ofpurchase Displays Audio Visual Material Symbols and logos Video Tapes

Trade in allowances Continuity Programmes Tie ins

Write a note on Advertising Communication System


By BMS Team on June 6, 2012 in Special Studies in Marketing INTRODUCTION TO ADVERTISING

Advertising is the backbone for any business. communication, a powerful marketing tool.

It is a

form of mass

When a market or a firm has developed a product to satisfy market demand after thoroughly analyzing the market, there is a need for establishing contact with the target market to eventually sell the product. Advertising helps in reaching to the target market.

Advertising can thus aptly be called as the MOTHER OF ALL COMMUNICATION. Advertising is all around us. We are bombarded with ads (commercials) over TV, radio &in the print. When we go to our colleges, offices we are expose to many bill boards, which tell us to drink more milk, donate are eyes, gives you more information, tells you to do family planning etc. On an average, an Indian citizen is exposed to more than 20 commercials per day.

In modern times, advertising prevails in all walks of life. It has acquired the distinction of being the most visible & glamorous method of marketing communication. It is the worlds fifth largest industry. Oil, Automobiles, Computers & Agriculture follow advertising in that order. Today it is a million dollar business.

Advertising = means to inform COMMUNICATION DEFINED The steps between source and a resource that result in the transference and understanding of meaning - STEPHEN R. ROBINS

ADVERTISING COMMUNICATION SYSTEM Advertising communication always involves a perception process and four of the elements shown in the model: the source, a message, a communication channel & a receiver. In addition, the receiver will sometimes become a source of information by talking to friends or associates. This type of communication is termed word-of mouth communication and it involves social interactions between two or more people & the important ideas of group influence & the diffusion of information.

The source of a message in the advertising communication system is the point of which the message originates. There are many types of sources in the context of advertising, such as the company offering the product, the particular brand or the spokesperson used.

MESSAGE:

The message refers to both the content and execution of the advertisement. It is the totality of what is perceived by the receiver of the message. The message can be executed in great variety of ways for e.g. the use of humor & fear

CHANNEL:

The message is transmitted through some channel from the source to the receiver. The channel in an advertising communication system consist of one or more kinds of media, such as radio, TV, newspaper, magazines, billboards, point-of-purchase display, &so on. The impact of the communication can be different for different media.

RECEIVER:

The receiver in an advertising communication system is also called the target audience. Thus, the receiver can be described in terms of audience segmentation variables, lifestyle, benefits sought, demographics, & so on. Of particular interest might be the receivers involvement in the product & the extent to which he/she is willing to search for and/or process information. It is the characteristics of the receiver-the demographics, psychological, & social characteristics-that provide the basis for understanding communication, persuasion & market processes.

DESTINATION:

The communication model in above diagram does not stop at the receiver but allows for the possibility that the initial receiver might engage in word-of mouth communication to the ultimate destination of the message. The receiver then becomes an interim source & the destination becomes another receiver. Word-of- mouth communication resulting from advertising can be a critical part of a campaign. The reality is that for some products the absence of word-of-mouth communication can be fatal. It is only the word-of-mouth communication that has credibility, comprehensiveness, & impact of affect the ultimate behavior of a portion of the audience. Advertising can actually stimulate word-ofmouth activity, even when it cannot stimulate it, knowledge of its appropriateness and power can be very helpful.

An advertising message can have a variety of effects upon the receiver. It can: Create awareness Communicate information about attributes & benefits Develop or change an image or personality Associate a brand with feelings & emotions Create group norms Precipitate behavior

Write a note on Brand Equity


By BMS Team on June 6, 2012 in Special Studies in Marketing BRAND EQUITY

In todays environment, building strong brands and establishing brand equity is becoming more and more challenging. A strong brand acts as a promise, leading faithful customers to pay a premium over competitive products. The most important assets of any business are intangible: its company name, brand, symbols, perceived quality, name awareness, patents, trademarks etc. these assets comprise brand equity, a primary source of competitive advantage.

MEASURING BRAND EQUITY

Most evaluations of brand equity involve utility estimations. Value (utility) of a product features and price level and also measuring the overall utility of a product, including brand name. The difference between total utility and utility of product features is the value of the brand. Monetary value, intangibles and perceived quality are also used in the brand equity measurement. Brand Equity can provide strategic advantages by: Use leverage when introducing new products. Brand can be linked to a quality image that buyers want to be associated with Can lead to greater loyalty from customers. Offer a strong defence against new products and new competitors. Can lead to higher product trails and repeat purchasing, due to buyer awareness of the brand.

Example: BPL brand has been valued at Rs. 600 Crores HLL brand has been valued at Rs. 900 Crores

Special Studies in Marketing Concept Testing


By BMS Team on September 21, 2010 in Exam fundas 1) 5 Ms of Advertising = Media, message, money, mission and measurement 2) Corporate image = mental representation or a conception of a company 3) Communication = act, process involving transmission of information, ideas, emotions, skills by the use of verbal or non verbal means i.e. words, pictures, figures, graphs, gestures and facial expressions 4) Communication objective v/s marketing objective = communication is the act of carrying a message whereas marketing is a total system of interacting business activities designed to plan price, promote and distribute want satisfying products and services to the present and potential customers 5) Rational and emotional appeal = rational appeal are directed towards thinking faculty of the audience. Emotional appeal could stir up positive or negative emotions which leads to an interest in the purchase of the products 6) Advertising = any paid form of non- personal presentation and promotion of ideas, goods and services by an identified sponsor. 7) Consumer products = products of daily use such as soaps, detergents, toothpaste, and so on which have direct, regular and elastic demand 8 ) Account for advertising agency = advertising agency is an independent business organization, composed of creative and business minded people, who develop, prepare and place advertising media for sellers seeking to find customers for their goods and services. Account means a client 9) DAGMAR = Defining Advertising Goals for Measuring Advertising Results/Effectiveness. It states advertising has to perform a particular communication task and the task has to be accomplished among a well-defined audience within a specified period of time 10) AIDA = Attention , Interest, Desire, Action. Advertising as a tool of marketing communication is especially meant for a group of users of product called target audience

11) Components of attitude = cognitive (knowledge, awareness and comprehension), Affective component (linking, evaluation), Conative (Action and tendency) 12) Advertising objectives based on attitude = use of persuasive process of communication as attitude change constantly and exact knowledge of consumer behavior as consumer behavior is the result of consumer attitudes 13) Steps required for developing an advertising programme = advertising objectives, prepare creative personnel and product offer-target audience, copy and layout design, copy/layout test, creative strategy and tactics 14) Public relations = philosophy and function of management expressed in policies and practices which serve the public to serve its understanding and goodwill 15) Corporate advertising = aims at creating market reputation and good image of the company among all social groups 16) Pre-testing methods for measuring effectiveness of advertising = checklist method, consumer-jury survey, sales-area test, portfolio test, mechanical/lab test 17) Post-testing methods = inquiry and coupon response, readership survey test, recall test, attitude measurement test method, sales-test method 18) Brand equity = incremental value of a business above the value of its physical assets due to the market position, achieved by its brands and the extension potential of the brand 19) Brand personality = brand develops a specific personality to the product and the brand personalities correspond to their target market personalities 20) Brand image = opinion/impression which the consumers cultivate about a particular brand provided by a manufacturer 21) Unique selling proposition = technique of differentiating quality of a product, which is easily recognizable and distinguishable from its competitors 22) Brand positioning strategies = positioning by price and quality, product use strategy, users category, product benefits 23) Pulsing strategy = regular advertising would be made for 2 or 3 weeks followed by low advertising for a short period 24) GRP = reach * average frequency. It describes the total weight of the media effort 25) CPM = process of measuring the target audience size against the cost of that audience is called efficiency or Cost Per Thousand (CPM) and Cost Per Rating (CPR) 26) Media vehicle = instrument of the media for carrying the message to the target audience 27) Promotion mix = advertising and publicity of the product, personnel selling, sales promotion measures, public relations techniques

28) TRP = Television Rating Points. Indicates the popularity of TV programmes and enables selection for spot advertisement 29) Objectives of sales promotion = to introduce new products, attract new customers, induce present customers to buy more, help the firm remain competitive, increase sales in off season, add to the stock of the dealers 30) Consumer sales promotion tools = free samples of the product, distribution of gifts to customers, consumer contest, door to door demonstration, free trial offer