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ADV300 first half.docx

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ADV 150
James M Olson

ADV300, First Half 4/9/2013 10:20:00 AM Chapter 2: Integrated Brand Communications Much of a products value is created by marketing decisions that determine its: Design Ease of use Distribution Pricing Marketing communication What is marketing? Marketing is designed to build brand and customer relationships. It also focuses on managing customer relationships to benefit all of a brands stakeholders. Stakeholders are all individuals and groups who had a stake in the success of the brand. Positive relationships create value of a brand Traditionally, marketing has been to sell products and this is done by matching a products availability to the consumers need, desire or demand. Marketing managers use the 4 Ps Products Price Place Promotion Who are they key players? 1. Marketers 2. Suppliers 3. Vendors 4. Distributors 5. Marketing partners There are 4 types of buyers: 1. Consumer 2. Business-to-business 3. Institutional 4. Channel Why is services marketing important? Services are the dominant part of the economy Many goods manufactures also offer services such as parts, repair and financing Most companies have a customer service operation to provide follow-up services Relationships between service providers and their customers is usually stronger than that of product sellers and their customers Delivery of services often rewuires more “touch points” and more opportunities for positive or negative interaction. SEVEN STEPS TO MARKETING: 1. Research the consumer market & competitive marketplace. 2. Set objectives for the marketing effort. 3. Segment the market and target specific markets. 4. Differentiate and position the product. 5. Develop the marketing mix strategy. 6. Execute the strategies. 7. Evaluate the effectiveness of the strategy. What key concepts drive marketing practives? Differentiation is a selling strategy that makes the brand stand out from its competition. Positioning is a process by which marketers make their product stand apart from the competition How a brand is different and superior is called its competitive advantage. (referred to as products differentiation in marketing strategy) Total Brand Communication: IMC is the practice of unifying all marketing communication messages and tools, as well as the messages from the marketing mix decisions so that they send a consistent message promoting the brand’s strategy Accountability Managers are challenged to prove they are pursuing the most effective marketing strategi
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