COM CM 317 Study Guide - Midterm Guide: Earned Media, Normative Social Influence, Brand Equity
20 Mar 2018
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Chapters 1, 3, 4, 5, 7 + in-class notes. Marketing= the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Various actions that a company or organization undertakes to promote and sell products or services. Ultimate purpose: to create exchanges that satisfy perceived needs and wants of individuals and organizations. Key marketing functions: advertising strengths: total control of the message. Weaknesses: is often expensive, hard to break through the clutter recall device= some element (music, logo, etc. ) that causes consumer to remember an advertisement or brand. Public relations strengths: third party endorsement/credibility, the media is seen as unbiased, can be low budget. Weaknesses: can be very expensive social media strengths: highly effective targeting options, can be less intrusive/feel more personal than mass media, can drive traffic to key brand channels (facebook, website, etc. ) easy to measure reach.
