ADM 2320 Lecture Notes - Lecture 15: Viral Marketing, Ad Blocking, Instant Messaging

45 views6 pages
Chapter 15
Terms
Marketing: satisfying market needs through the commercialization of products and
services
Mass marketing: satisfying widespread market needs with standardized mass-produced
products and services
Mass media advertising: the promotion of a company or its products and services in
media with large audiences: newspapers, magazines, cinema films, radio, television, and
the Web
Viral marketing: a persuasive message designed to spread, typically online, from person
to person
Buzz and word or mouth marketing: initiatives deigned to get people and the media
taking positively about the company, product or service
Connected marketing: umbrella term for viral, buzz and word of mouth marketing
The Death of Mass Marketing
18%: proportion of TV advertising campaigns generating positive ROI
256%: increase in TV advertising costs (CPM) in the past decade
90%: proportion of people who can skip TV ads who do skip TV ads
117%: number of prime time TV spots in 2002 needed to reach 80% of adult population
3000: number of advertising messages people are exposed to per day
56%: proportion of people who avoid buying product from companies who they think
advertise too much
Word of Mouth Today
76%: consumer say that word of mouth is the main influence on purchasing decisions
(2004 UK study)
92%: americans say world of mouth is preferred source of product information
10: number of times word of mouth is more effective than TV or print advertising
Word of mouth is credible and cost effective
1/3: americans believe world of mouth is now more important in influencing their
purchases than it was three years ago (2002 US study)
50%: increase of the influence of word of mouth
Key points:
o New people communications technology: blogs, instant message, mobile
telephones, email, online reviews (reach and utility)
o Increased marketing literacy: people increasingly dismiss traditional marketing
campaigns as biased propaganda
o Acute advertising clutter: more difficult for traditional marketing campaigns to
“break through” and capture people’s attention
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 6 pages and 3 million more documents.

Already have an account? Log in
o Accelerating media fragmentation: more channels, more media making it harder
for advertisers to reach their target markets through traditional campaigns
o Ne ad blocking technology: empowering people to skip, stop or avoid unwanted
advertising campaigns
Myth vs Reality
Myth: “magic bullet” model of marketing influence
Reality: “two step” flow model of marketing influence
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-2 of the document.
Unlock all 6 pages and 3 million more documents.

Already have an account? Log in

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents

Related Questions