BUS 202 Lecture Notes - Lecture 14: Product Placement, Promotional Mix, Media Mix
Document Summary
Chapter 14 notes: discuss the effects of advertising on market share and consumers. Advertising helps marketers increase or maintain brand awareness as well as market share. Typically more is spent to advertise new brands with a small market than to advertise older brands. Brands with a large market share use advertising mainly to maintain their share of the market. Advertising affe(cid:272)ts (cid:272)o(cid:374)su(cid:373)ers" dail(cid:455) li(cid:448)es as (cid:449)ell as their pur(cid:272)hases. Although ad(cid:448)ertisi(cid:374)g (cid:272)a(cid:374) seldo(cid:373) (cid:272)ha(cid:374)ge stro(cid:374)gl(cid:455) held (cid:272)o(cid:374)su(cid:373)er attitudes a(cid:374)d (cid:448)alues, it (cid:373)a(cid:455) tra(cid:374)sfor(cid:373) a (cid:272)o(cid:374)su(cid:373)ers" (cid:374)egati(cid:448)e attitude towards a product into a positive one. Additionally, when consumers are highly loyal to a brand, they may buy more of that brand when advertising is increased. Lastly, advertising can change the importance of brand attributes to consumers. By emphasizing different brand attributes, advertisers (cid:272)a(cid:374) (cid:272)ha(cid:374)ge their appeal i(cid:374) respo(cid:374)se to (cid:272)o(cid:374)su(cid:373)ers" (cid:272)ha(cid:374)gi(cid:374)g (cid:374)eeds or tr(cid:455) to a(cid:272)hie(cid:448)e a(cid:374) ad(cid:448)a(cid:374)tage over competing brands.