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O' Guinn
Chapter 1
| Question | Answer |
|---|---|
| What is an example of Branded Entertainment in the 21st century? | Gillette Stadium, AT&T Center, etc. |
| What is "acupuncture marketing?" | Coined by president of Audi America, going "narrow and deep" with brand messages; using branded entertainment, the Internet, social networks (influencer marketing) and other innovative communication techniques to reach consumers. |
| What is IBP? | Integrated Brand Promotion |
| What is Mobile Marketing? | Communicating with target markets through mobile devices like smartphones or iPad or Surface tablet devices |
| What is goal of Mobile Marketing? | To "funnel" consumers to retail sites and online shopping and purchasing. |
| What can be said about the new world of advertising? | It is still in transition and still has some fundamentals that will not change |
| What is the main focus of Advertising no matter what new changes technology brings to delivering messages? | THE BRAND! ITS ALL ABOUT THE BRAND! |
| What is the fundamental challenge of Brand advertising? | Communicating effectively about the brand and the brand's values. |
| If a brand does NOT meet our needs… | the brand will NOT succeed. |
| Why are consumers drawn towards brands? | To fulfill their needs and desires and for the social symbolism that brands represent. |
| Why did Cadillac go from a 75% market share in Luxury vehicles to a mere 9% in 2007? | Their 86' Cimarron & 87' Allante confused the market's perception of the brand because they were inferior products than they had previously produced * Reaching a large number of people with info about a poor product will make it a success. |
| What can happen to a well established brand that does not regularly invest in carefully crafted IBP programs? | A brand can "drift into a vague oblivion" |
| ____________ is a business, art form, institution and cultural phenomenon. | Advertising |
| ____________ is a marketing tool that helps create brand awareness and brand loyalty. | Advertising |
| What type of process(es) is Advertising? | A complex communication process, a dynamic business process and now a part of the social interaction process. |
| What is Advertising? | A paid, mass-mediated attempt to persuade; ads are communications designed to get someone to do something. |
| What is a Client or Sponsor? | The company or organization that pays for advertising |
| What are the three essential criteria a communication must meet to be classified as Advertising? | 1. It must be paid for 2. It must be delivered to an audience via mass media 3. It must be attempting persuasion |
| What are examples of communications falsely classified as Advertising? | Public Service Announcements, A celebrity promoting their newest movie on Late Night; these communications have not been paid for. |
| IBP creates _____________ for a brand. | Exposure |
| What is the chief focus of the IBP process? | Brand exposure |
| What is Integrated Brand Promotion? | The process of using a wide range of promotion tools that work together to create widespread brand exposure. |
| What is necessary of IBP tools? | They must work together, be integrated and create a constant and compelling impression of the brand; even though the different tools will reach consumers in different ways. |
| What is an Advertising Campaign? | A series of coordinated advertisements that communicate a reasonably cohesive and integrated theme about a brand; it should advance an essentially singular theme. |
| How do IBP and Advertising relate to each other? | IBP is the use of many promotional tools, including advertising. IBP is the coordination of such tools to build and maintain brand awareness. Advertising is a tool, which is central to the IBP process. |
| What are Accommodation & Negotiation? | The ways in which consumers interpret ads. |
| How are Ads interpreted? | They are interpreted differently by each audience member according to her or his unique set of experiences, values, & beliefs. |
| The receivers of the communication must __________ their perceived multiple means and pers. agendas and then ____________ a meaning/interpretation. | Accommodate, Meaning |
| What is critical point about ad interpretation? | No ad contains a single meaning or even the same meaning for each audience members. |
| What is an Audience? | A group of individuals who receive and interpret messages sent from companies or organizations. |
| What is a Target Audience? | A particular group of consumers singled out by an organization for an advertising or IBP campaign. |
| What are the 5 broad audience categories? | 1. Household Consumers 2. Members of Business Organization 3. Members of a Trade Channel 4. Professionals 5. Government Officials & Employees |
| What are examples of Target Audiences? | Men 25 to 45 in professional occupations, living in metro areas, with incomes greater than 50k per year. |
| What is Esoteric Terminology? | |
| When is Global Advertising appropriate and effective? | Only when a brand and the messages about that brand have a common appeal across diverse cultures. i.e. Rolex, IBM, Sony, Pirelli Tires |
| What is distinct about International Advertising? | Advertising is prepared and placed in different national markets; the ads are tailored for each market according to its unique appeals & product usage. |
| What is Co-Op advertising? | The sharing of advertising expenses between national companies and local merchants. |
| What are the 4 roles that Advertising plays in marketing? | 1. Contributing to the marketing mix 2. developing and managing the brand 3. achieving effective marketing segmentation, differentiation, & positioning 4. contributing to revenue and profit generation. |
| What is Marketing? | The process of planning & executing the conception, pricing, promotion, & distribution of ideas, goods, & services to create exchanges that satisfy individual and organizational objectives. |
| What is the Marketing Mix? | Conceiving, pricing, promoting, & distributing goods, services , and ideas. |
| Advertising in only one of the major areas of Marketing responsibility and only one of many different IBP tools. | |
| What are the 5 ways that Advertising affects brand development & management? | Information & persuasion, Brand extensions, Brand loyalty, Creating Image & Brand Meaning, Maintaing Brand loyalty within a Trade |
| What is Market Segmentation? | The process of breaking down a large, widely varied market into submarkets, or segments that are more similar than dissimilar in terms of consumer characteristics. |
| What is Advertisings role in Market Segmentation? | To develop messages that appeal to the needs and desires of different segments and then to transmit those messages via appropriate media. |
| What is Differentiation? | The process of creating a perceived difference in the mind of the consumer between a brand and its competition. |
| What is Positioning? | The process of designing a brand so that it can occupy a distinct and valued place in the target consumer's mind relative to other brands. |
| What are the 3 position strategic decisions made for a brand? | External position, Internal position, and Repositioning |
| What is External position? | The niche the brand will pursue relative to all the competitive brands on the market |
| What is Internal Position? | Accomplished by developing vastly different products within the firm's own product line. Must be achieved with regard to the other, similar brands the firm itself markets; |
| What is Repositioning? | Occurs when a firm believes that a brand needs to be revived or updated to address changing market or competitive conditions. |
| How does Advertising contribute to Economies of Scale? | When an organization creates large-scale demand for its brand, the quantity of product produced is increased, and economies of scale lead to lower unit production costs. |
| How does Advertising contribute to Inelasticity of Demand? | When consumers are brand loyal, they are generally less sensitive to price increases for the brand. Firms have the flexibility to maintain higher prices and increase profit margins. |
| What is Primary Demand Stimulation? | Creating demand for an entire product category. It is challenging and costly, and not likely to have an impact on mature products introducing extensions. An effect PDS was the intro. of the VCR. Advertising is not powerful enough to stimulate prim. demnd |
| What influences on society can affect primary demand for a product category? | Demographics, cultural values, technology, and other broad influences. |
| When is Advertising most powerful? | When it functions to stimulate demand for a particular company's brand. i.e. Selective Demand Stimulation |
| What is the purpose of Selective Demand Stimulation? | To point out a brand's unique benefits compared to the competition. |
| What is Direct Response Advertising? | Involves asking consumers to act immediately. "Call this toll free number" "Click to order NOW". Mostly used for products that consumers are familiar with, do not require inspection, relatively low cost. |
| What is Delayed Response Advertising? | Attempts to develop awareness and preference for a brand over time. Reinforces the benefits of using a brand and creates an image for the brand. |
| What is Institutional Advertising? | Corporate advertising that takes place in a trade channel i.e. Nordstrom, Home Depot, & Walmart advertise to persuade consumers to shop at their stores. |
| What is GDP? | The measure of the total value of goods and services produced within an economic system. |
| What is the role of Advertising in terms of GDP? | It can contribute to levels of overall consumer demand when it helps introduce new products, such as DVRs, smartphones, alt. energy sources. As demand grows, consumer spending fuels retail sales, housing starts, & corp. invest. in finishd good & equip. |
| ________ is affected by sales of products in new, innovative product categories. | GDP |
| How does Advertising affect Competition in a positive way? | 1)Firms must strive for better products, better production methods, and other compet. advntgs. that benefit the economy as whole. 2) It serves as a way to enter new markets fostering competition across the economic system. |
| How does Advertising affect Competition in a negative way? | Advertising dollars needed to compete in an industry can be so great that a firm cannot afford to get into the business. In this way, advertising is argued to decrease competition across the economy |
| What is important to remember about the affect of Advertising on sales? | There is no consistent and predictable relationship between advertising spending and sales. - it all depends on the product category, competition, size of market, etc. |
| How are 2 ways that Advertising can lower the price for a consumer? | 1) There is a reduced time and effort a consumer has to spend in searching for a product/service. 2) economies of scale can spread the lower production costs as lower prices to consumers with enough demand |
| What is the Password for successful marketing? | Value |
| What is Value? | A perception by consumers that a brand provides satisfaction beyond the cost incurred to obtain that brand. |
| What is Symbolic Value? | What a product or service means to consumers in a nonliteral way. i.e. Michael Kohrs, The North Face, Ray-Ban. In reality all branded products rely to some extent on symbolic value. |
| What is Social Meaning? | What a product or service means in a societal context. Often a brand's connection to social class values addresses a need within consumers to move up in class. |
| What is the distinction between IBP & Integrated Marketing Communications? | IMC emphasizes the communication effort per se and the need for coordinated & synergistic messages. IBP emphasizes the BRAND & not just the communication. i.e. promotional messages need to have Brand-Building effects. |
Created by:
rrayos
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