Term
| Three stages of the Ad Spiral |
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Definition
| Pioneering, Competitive, Retentive |
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Term
| Purposes of the Pioneering Stage |
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Definition
| Educate consumers about new products/services, demonstrate a need, show that a product exists which can fulfill the need |
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Term
| Pros of the Pioneering Stage |
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Definition
- Beat the competition
- define the category to best reflect your product
- Become market leader
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Term
| Cons of the Pioneering Stage |
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Definition
- Expensive (R&D/Advertising Costs)
- Estimated 67% failure rate among new products
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Term
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Definition
- General usefuness if recognized but superiority over other brands is not established
- Pioneered products usually have a short term advantage in the competitive stage
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Term
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Definition
- General usefulness is widely reognized, individual qualities are appreciated, and consumers buy based on reputation
- "Reminder" advertising (preventing buyer's remorse)
- Highly visual, few words
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Term
| Era in which advertising began for services/products |
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Definition
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Term
| "Modern Era" of advertising |
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Definition
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Term
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Definition
- Centralized exchange: where people can compare/contrast when buying
- Economy in which supply exceeds demand
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Term
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Definition
- Pre-marketing (?-18th century)
- Mass Communication Era (1700s-1920s)
- Research Era (1920s-1990s)
- Interactive Era (1990s-present)
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Term
| Premarketing Era (examples) |
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Definition
- Babylonian clay tablet
- Ancient Egyptian papyrus
- Greek town criers
- French wine samples in 1100AD
- Outdoor advertising in 1600s (for pubs)
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Term
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Definition
- 1830s: local/regional newspapers
- National magazines
- 1920s: radio was born
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Term
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Definition
- Focused on broad demographics (age/race/marital status)
- Began to measure/quantify target audience
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Term
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Definition
- One-way to Two-way communication
- Media-controlled to consumer-controlled
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Term
| Three company leaders in consumer goods by 1900s |
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Definition
- Proctor and Gamble
- Kellogg
- HJ Heinz
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Term
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Definition
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Term
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Definition
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Term
| First English-language newspaper |
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Definition
| The Oxford Gazette (1665) |
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Term
| First newspaper to carry advertising |
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Definition
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Term
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Definition
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Term
| Creator of the first ad agency |
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Definition
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Term
| Regulates things that go in or on people |
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Definition
| Food and Drug Administration (FDA) |
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Term
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Definition
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Term
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Definition
| Federal Trade Commission (FTC) |
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Term
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Definition
- Albany-Schenectany-Troy, NY
- Rochester, NY
- Greensboro-Winston/Salem-High Point, NC
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Term
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Definition
- Information comes directly from target
- Observation
- Direct Inquiry
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Term
| Components of the Marketing Umbrella |
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Definition
- Research
- Advertising
- Public Relations
- Promotions
- Sales
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Term
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Definition
- Face-to-face
- Most effective (most expensive)
- Popular in business to business (B2B)
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Term
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Definition
- Used for products not sold in stores
- Seeks to solicit an immediate reaction
- Key element: call to action
- Results are tracked/measured
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Term
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Definition
- Extra incentive for a customer to make a purchase
- Most are never seen by consumers; mostly for wholesale/retailers
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Term
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Definition
- Not restricted to paid time/space/media
- Gaining and using TRUST
- All efforts by an organization to create an optimum environment in which to do business.
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Term
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Definition
| Strategic planning for goods and services |
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Term
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Definition
- Product
- Price
- Placement
- Promotion
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Term
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Definition
| Marketing tool used to communicate ideas and information about goods/services in an attempt to influence behavior |
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Term
| Integrated Marketing Communications (4 components) |
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Definition
- Advertising
- Public Relations
- Sales Promotions
- Direct Response
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Term
| Brand/National Advertising |
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Definition
| National ad to get across general information to keep positive emotion associated with the brand. |
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Term
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Definition
| Targets a specific geographical area |
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Term
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Definition
| Targeting business retailers; telling them about promotions or the supplies they need to run their business |
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Term
| Business to Business (B2B) |
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Definition
- More direct, honest, "bottom line"
- Not susceptible to emotional appeals
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Term
| Business to Consumer (B2C) Advertising |
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Definition
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Term
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Definition
Identifying and communicating with groups of prime prospects |
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Term
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Definition
| Fitting the product into the lifestyle of a buyer |
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Term
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Definition
- 110 million in US
- Household w/kids uner 18 = 33%
- 60% bachelor's/master's
- Influence purchase of 85% of products
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Term
| S.W.O.T. (Situational Analysis) |
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Definition
| Strengths, Weaknesses, Opportunities, Threats |
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Term
| ADI (Area of Dominant Influence) |
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Definition
| 7 county area around Orlando |
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Term
| MSA (Metropolitan Statistical Area) |
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Definition
| 3 county area around Orlando |
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Term
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Definition
| Strategy that focuses on comparatively narrow windows of opportunity within broad product market |
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Term
| Benefits of Niche Marketing |
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Definition
- Provide entry into larger market by attacking a small underserved part
- Serve needs that existing products don't
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Term
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Definition
- New York, NY
- San Francisco, CA
- Honolulu, HI
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Term
| Pro (1) and Cons (2) of Primary Research |
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Definition
- Pro: designed to find out the info you need
- Con: expensive, time consuming, irritating to respondents
- Con: People lie
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Term
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Definition
- Information comes from someone else's research
- Helpful as a starting point
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Term
| Pro and Con of Secondary Research |
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Definition
- Pro: inexpensive, quick, easy
- Con: not designed around your specific research topic, unreliable, outdated
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Term
| Ways to obtain Quantitative Data |
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Definition
| Satisfaction survey, traffic data, purchase date, sales data |
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Term
| Ways to Obtain Qualitative Data |
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Definition
| focus groups, direct observer, free response, interview non-customers |
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Term
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Definition
- Sociology (social class stratification, trend watching, cohort analysis, life stage research, consumption research)
- Psychology (values and lifestyles, VALS groups)
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Term
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Definition
| Finding out who buys the product and why (finding a focus group) |
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Term
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Definition
| Controversial method of showing advertisements to a knowing audience for feedback on the effectiveness or proposed effectiveness |
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Term
| Effectiveness Testing/Tracking |
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Definition
| Making sure the advertisements are working |
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