RETL 369 Lecture Notes - Lecture 5: Brand Equity, The Richards Group, Advertising
19 Oct 2016
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Executional framework- how messages will be delivered. Advertising management: review role of advertising in imc effort, select in-house or external advertising agency, develop advertising campaign management strategy, complete creative brief. Lower turnover rate in the creative team. Size of account should match size of agency. 75-15-10 rule: 75% - media buys, 15% - creative work (agency, 10% - ad production. Steps in selecting an advertising agency (think about a job interview)***: set goals, select process and criteria, screen initial list of applicants, reduce list to two or three viable agencies, request creative pitch- what they would do. Evaluation criteria in choosing an agency (to see examples of past)*** Product specific research: key selling points, desirable features. Consumer- oriented research: context of product use, anthropological approach, sociological analysis, psychological motives. Business-to-business: especially important in modified rebuy situations. Successful brand possess: top of mind, top choice. Brand equity leads to top of choice and top of mind.
