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MARK301 Exam Revision

Slide 2: Social sciences they do change definition of marketing has


evolved
- Notion of value (from the benefits of the product, its not just the
product , you are buying the solution to your problem)

Slide 3: if marketing is creating value how can we create through value


through communication? Developing a shared meaning.

Slide 4: They are different tools by themselves they are not meaningful, all
elements do not need to be included. Because these are tools none of
them are perfect (for example advertising is good at creating narrative)

- Pros and Cons of each one ?


- What is the purpose of each one?
- Sponsorship and Public Relations: Positive image for the brand
through 3rd party endorsers but you dont have control.
- How they interact with each other?

Slide 5: strategic process


- Its not a combination of multiple steps
- Steps have to be consistent with situational analysis
- If you are spending on advertising what are the objectives of the
campaign
- Enhancing brand equity

4 Key considersations providing a consistent message


- It allows consumers to not to be confused
- Increase the recall of the message

Targeting a group of consumers


- Homogenous within
- When the group is similar they would have shared values lifestyles
and language
- Think about what kind of communication you can have with them
Creating unique mental associations
- Closely related to psychology
- Theory of planned behavior
- Our intention is a good predictor to whether we will do it or not
- If people think positively then theyre likely to purchase it
- Sales promotions bypassing unique mental association straight
to bejaviour

Optimizing long term value of the brand


- Marketing has moved from a transactional perceptive
- To build long term relationship with the consumers
Slide 6: Frameworks enable you to justify your choice of
frameworks
- 5 functions of advertising (informing, persuading etc)
o Informing- creating value by informing consumers how to use
the product
o Persuation why your brand is better than other brands
o Reminding consumers brand is already established and it is
relevant to the consumers
o Adding Value can we associate with certain lifestyles
o Assisting other company efforts other endeavors (burger
fuel to the usa advertising was a way to leverage the brand to
contribute to it)

- Brand knowledge
o Create symbols that convey meanings
o Incorporate perceptions
o How does brand knowledge exist
Most of the time when consumers think about product
they think about certain brands
Brands can be considered as people
Associate celebrities
You are actually building a person
- Hierarchy of effects
o What are the elements are missing?
o How can we set our objectives?
o So that it is strategic
o Create strong attitudes from the beginning focus on
awareness
o Sequential process
- Communications effects pyramid
o Different percentages
o Based on previous imc campaigns and what they achieved
o Estimating future objectives
o You dont have to start from scratch

Slide 7 Managing the advertising process


- During implementation you have mechanisms available

Slide 8 Elements we looked at


- Where the company is in relation to the market environment
o Where the b rand sits in the consumers mind
o What are the broader macro environmental forces
o If we dont monitor we wont meet consumers expectations

Marketing objectives and Target Market


- Define the target audience
- Cut down on irrelevant information
- Who would be the most appropriate consumers
- Make sure the objectives are measurable
- So you can assess the effectiveness

- Creative idea
Functional
Symbolic
USP
Think about the unqiue concept to convince the consumer to
be more positive
- Media plan
o Concered with the specific element
o Digital/traditional
o Still linked with creative idea
- Justification, budget and roi
o How do we know we have done a good job
- Evaluation
o Digital media has changed a bit , ultimately the process is not
rational , a lot of purchases are impulse buying

Slide 9 Advertising today is (journal for advertising theory today)

Takes a critical perspective


What is it today and how will it change in the future

Communication Activities do research but the idea is inhouse which then


is distributred through different media.

Messaging is type of psychological model based on how we think


consumers think in the last lecture we look at qualitative and
quantitative

Employ supply chain model when we create a message we assume that


there is value in the product when we sell it , but there is little emphasis
on what consumers actually do with the product it can be a product to
create innovation from if we know how they use it.

Employ media organization tired to message

Slide 10 - Advertising today is

Theories and concept are limited to market place results do not correlate
with the actual results

We keep doing advertising because there is no other better way


companies who advertisie the most
Slide 11 Apple

Derive perception comes from multiple places of contact


competition from your competitors
- Use media to show how our brand is better than others
- Backlash to see advertising

Consumers interaction things that arent not directly controlled by the


company
FBI and Apple advertising is creating to create inspiration information

Slide 12 Advertising in the future

- 4ps in the organization


- in a lot of cases value is not created by company it is created by the
consumer
- Change from selling the product to how customers can solve their
own problems become consultants in a way

Slide 13

- Less emphasis on awareness generating customer prospects


- If you make your brand known to people if you have information
about consumers previous purchase and their habits, with the right
model you can bypass the awareness you can target individuals.
- E.g coke in the UK customized advertising message to Netflix
viewers
- Based on psychology its not the only way with behavioural
- E.g theory of planned behavior consumers need to learn about the
product
o What do the consumers actually purchase
o Identifies ways to target them

Slide 14

What will not change is that you still need to apply theory to understand
to make the decision

Strategy + creatie thinking

Slide 15

Starts with opinion -> justicaition -> marketing advice


- A basic level marketer facts (empirical evidence , trends)
- Is there potential cause outcome relationship
E.g Luxury products online if you look at what we know about luxury
luxury = status
They are in conflict of interest some people have it and some people
dont
Dilemmas you got a lot of followers by reaching out because everyone
has access you have lost value
Rather than using it as selling mechanism , you are creating cheerleading

Slide 16 Creative Thinking


- We need to stand out
- How do we make consumers remember and do something about it
- A lot of shortcuts leverage tools that were not available before
- Burger king vs McDonalds social media created impressions
- Thinking outside the box
- no such thing as perfect advertising

trimester 2 2015 similar

e.g what brands are suited to scheduling


budget considerations
brand image is related to symbolic creative strategy

which theories compliment each other

Section A and B

Discuss concepts related to the topic


Use examples for the concepts

Think about structure

Why are there different types of continuity

Q1

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