Wells, Burnett, Moriarty

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Chapter 3Advertising and the Marketing Process
What is Marketing?

• Planning and executing the conception, pricing,
  promotion, and distribution of ideas, goods, and
  services to create exchanges that satisfy the
  perceived needs, wants, and objectives of the
  customer and the organization

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Advertisings Role in Marketing?
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Types of Markets

• Market
• Where goods are sold and bought or
• Particular type of buyer
• Consumer
• Business-to-business
• Institutional
• Reseller

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Approaching the Market

• Undifferentiated vs. Segmentation approaches
• Product differentiation
• Positioning
• Attribute
• Price
• Ability to surpass the competition
• Application
• Product user
• Product class

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The Marketing Concept and Relationship Marketing

• Marketing concept
• Integrated marketing
• Relationship marketing

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Four Tools of Marketing

• 1. Product
• Branding
• (brand, name, mark, equity)
• Packaging
• Colorful and distinctive
• Coordinate with image
• Functional
• Coordinate with advertising

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Four Tools of Marketing

• 2. Place channel of distribution
• Direct marketing
• Indirect marketing
• Cooperative advertising allowances
• Pull strategy
• Push strategy
• Exclusive, selective, intensive

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Four Tools of Marketing

• 3. Price
• Customary Pricing
• Psychological pricing
• Low prices
• High prices
• Changing prices/alternate offerings
• Price lining
• Match pricing with advertising

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Four Tools of Marketing

• 4. Promotion marketing communications
• Personal selling
• Advertising
• Sales promotion
• Public relations
• Direct marketing
• Point-of-sale/packaging

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Ad Agencies

• Why hire an ad agency? Why not?
• Types of agencies
• Full-service agencies
• Specialized agencies
• Industry-focused agencies
• Minority agencies
• Creative boutiques
• Media buying services
• Virtual agencies

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Ad Agencies

• How agencies are organized
• Account management
• Creative development and production
• Media planning and buying
• Account planning and research
• Internal services
• How agencies are paid