BUAD471 Midterm: BUAD471Exam3-StudyGuide

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Department
Business Administration
Course
BUAD471
Professor
Mark Bambach
Semester
Fall

Description
BUAD 471 Test #3 https://quizlet.com/136378464/buad471-exam-3-flash-cards/ Characteristics of traditional support media, including outdoor advertising, alternative out of home media, in-store media, miscellaneous outdoor media, and transit advertising. 6 QUESTIONS - Out of home advertising - Billboards, street furniture, alternative media and transit as well as specific forms of radio - Billboards and street furniture make up 72% of outdoor - Outdoor Advertising - $6 Bil in 2012, 5% of ad dollars - Top outdoor advertising category is misc services and amusements followed by insurance and real estate, least popular is done by the government - More pervasive communication form-- particularly if you live in an urban/suburban area - Once dominated by tobacco advertisers - Broad client base - Increase number of women in workforce has led to more advertising of products in this segment - Increases in number of vehicles on road and # of miles driven - Ability to remain innovative through technology - Billboards no longer limited to standard sizes and 2 dimensions - 3D forms and extensions are used to attract attention - Allows outdoor advertising to appear in places previously unavailable and in a timely fashion - Sports stadiums, on freeways, sides of buildings etc. - Alternative out of home media - Aerial advertising - Airplanes pulling banners, skywriting and blimps (outdoor advertising) - Generally not expensive in absolute terms and can be useful for reaching specific target markets - Mobile billboards - Paint vehicles with ads - Put ads on small billboards, mount them on trailers and drive around in geographic areas being targeted - Affordable - Lead to a high number of impressions - High level of recall and readership-- likely to have impact on sales - In store media - In store ads, aisle displays, store leaflets, shopping cart signage and in store TV to reach shoppers at place where they buy - ⅔ of consumer purchase decisions are made in store - Advertisers spend more of their dollars where decisions are made now that they can reach consumers at the point of purchase, providing additional product info while reducing overall marketing efforts - Misc outdoor media - Transit advertising​-- another form of out of home advertising - Targeted at millions of people who are exposed to commercial transportation facilities including buses, taxis, trains, trolleys, airplanes etc - Renewed interest due to women in the workforce, audience segmentation and the fact that more people spend time outside of their home than inside and transit continues to be a popular medium - Lower costs, frequency of exposures, flexibility and point of sale presence - Types of Transit advertising​: - Inside cards​: placed above seats and luggage area; advertising restaurants, tv or radio stations or other products/ services - Digital screens to advertise in transit vehicles - Ability to change the message and the visibility provide the advertiser with a more attention getting medium - Outside posters​: may appear on the sides, backs and/ or roofs of buses, taxis, trains etc - Increasing sophistication-- Vert, Inc= transforms ads on top of taxicabs into real time animated electronic billboards - GPS determines location and delivers relevant ads for particular area - Station platform and terminal posters​: floor displays, island showcases, electronic signs - Terminal posters can be very attractive and attention getting - Bus shelters= provide advertiser with expanded coverage where other outdoor boards may be restricted - Advantages of outdoor - Wide coverage of local markets​-- both day and night presence (think about the millions of people exposed to billboards in Times Square) - Frequency​-- purchase cycles are typically 30 day periods, consumers are usually exposed a number of times→ high frequency - geographic flexibility​-- for local advertisers outdoor can reach people in specific geographic and/or demographic areas - Local, regional, or even national markets may be covered - Ability to create awareness - efficiency​ -- usually very competitive CPM - Transit is one of the least expensive media in both relative and absolute costs - Effectiveness ​-- studies show that outdoor advertising can have a significant effect on sales, particularly when combined with a promotion - Production capabilities​: modern tech has reduced production times to allow for rapid turnaround time and digital messages can be changed in minutes - Timeliness​: many outdoor ads appear in or near shopping areas or on or in the vehicles taking customers there-- resulting in timely exposures - Disadvantages of outdoor - Waste coverage​: while it is possible to reach very specific audiences, in many cases the purchase of outdoor results in a high degree of waste coverage - Limited message capabilities​: because of the speed with which most people pass by outdoor ads, exposure time is short-- messages are limited to a few words and/ or illustrations - Lengthy appeals not likely to be effective - Wearout​-- high frequency of exposures→ quick wearout - People likely to get tired of seeing same ad every day - Cost:​ decreasing signage available and higher cost associated with inflatables, can be expensive in both absolute and relative terms - Measurement problems:​ problems measuring accuracy of reach, frequency and others - Image problems - Advantages of Transit - Exposure-- ​long length of exposure to ad is one major advantage of indoor transit forms - Frequency-- ​daily routines are standard.. Exposed to ads repeatedly - Cost​-- the CPM for transit advertising is low on a relative cost basis - Disadvantages of transit - Reach-- ​while an advantage of transit advertising is the ability to provide exposure to a large number of people, this audience may have certain lifestyles and/or behavioral characteristics that are not true of the target market as a whole - ex= in rural or suburban areas, mass transit is limited or nonexistent so the medium is not very effective for reaching these people - Mood of the audience-- ​sitting/ standing on a crowded subway may not be conducive to reading advertising, let alone experiencing the mood the advertiser would like to create - Controversial ads Characteristics of promotional products marketing, including advantages and disadvantages of promotional products marketing. - Promotional Product marketing​: the advertising or promotional medium or method that uses promotional products, such as ad specialties, premiums, business gifts, prizes etc - More up to date name for what used to be called speciality advertising - Specialty advertising​: considered both an advertising and sales promotion medium and motivational communication; supportive advertising medium in the IMC program - employing imprinted, useful or decorative products. These are always distributed for free - Ballpoint pens, coffee mugs, t-shirts etc - To thank a customer for patronage; keep the name of the company in front of customers, introduce new products or reinforce the name of an existing company/product/service - To support other forms of product promotions - Advantages of promotional products marketing ■ Selectivity- ​delivered directly to target; high degree of selectivity ● Communication delivered to desired recipient, reducing waste coverage ■ Flexibility- ​high degree of flexibility ● A message as simple as a logo or as long as is necessary can be distributed through a number of means ■ Frequency- ​designed for retention; have potential to remain with customer for a long time; repeat exposures at no additional cost ■ Cost- ​most are affordable to almost any size org ● Costly on CPM basis, high number of repeat exposure drives down the relative cost per exposure ■ Goodwill- ​promotional products may be the only medium that generates goodwill in the receiver; people like to receive gifts-- favorable impression of advertiser ■ High recall ​of both advertiser’s name and message ■ Ability to supplement other media​- because of low cost and repeat exposures, the simplest message can reinforce the appeal / info provided through other forms - Disadvantages of promotional products marketing - Image- ​must be careful choosing speciality item; company image may be cheapened by a chintzy or poorly designed advertising form - Saturation- ​with so many orgs using this medium, the marketplace may become saturated - Value to the receiver declines if replacement is too easy - The more unusual the speciality item the more value it’ll have to the receiver - Lead time is significantly longer​ than for most other media - Reach- ​use of other media leads to greater reach Characteristics of nontraditional support media, including branded entertainment. - Branded entertainment​: a form of advertising that blends marketing and entertainment through television, film, music talent and technology; goal is to use entertainment media to gain consumers’ attention and exposure to products and/or brands - Product placement: ​free or provided in exchange for trade - Commonly employed via soap operas in the 1950s - Used to gain exposure by numerous companies large and small - Logic behind product placements→ since the placement is embedded in the script or program setting, it cannot be avoided, thereby increasing exposure - Lack of intrusiveness-- consumers may not react negatively - Association with a program or movie [or celebrity] may enhance the image of the product and increase sales - Downsides:​ may becoming too obvious; some consumers perceive them more like ads and as a result may have less impact - Product integration​- product is woven throughout the program or becomes the program itself - Whole show becomes about product - Advertainment- ​the creation of video and/or music content by an advertiser in an attempt to entertain viewers while advertising their products - Initially only shown on internet, now available on some cable and satellite channels ● Advergames: online games designed to promote their products - Content sponsorship​: rather than developing their own content, some advertisers agree to sponsor specific programs, receiving product placements, integration and promotions in return - Ad supported Video on Demand: ​VODs are specialized content programs offered through cable TV networks that are developed by advertisers and provided to the cable operators for free - MTV launched a series called the “How to Show” where musicians, athletes, and celebrities offer the “tricks of their trades” Characteristics of the role of direct marketing in the IMC program, including direct marketing objectives, and direct marketing strategies and media. 8 QUESTIONS Role of direct marketing in the IMC program page 484 - Combining Direct Marketing with Advertising - Direct response offer is an ad - Usually contains a toll-free number or a form that requests mailing information - Sometimes ad supports the direct selling effort - ex= Victoria Secrets runs image ads and commercials to support its store and catalog sales - Direct response ads or infomercials are also referred to in retail outlet displays - Combining Direct Marketing with PR - PR activities often employ direct response techniques - Combining Direct Marketing with Personal Selling - Telemarketing and direct selling are two methods of personal selling used to generate sales - ex) getting an ad in the mail about a new car and then going in to test drive where the salesman take over the personal selling - Combining Direct Marketing with Sales Promotion - Marketers could increase the effectiveness of their direct-mail campaigns by offering exclusive deals and/or coupons - Databases are often built from the names and addresses acquired from a promotion and direct mail and/or telemarketing calls follow - Combining Direct Marketing with Support Media - Adding a promotional product to a direct mailer has proven to increase response rates - To successfully implement direct marketing programs, companies must make a number of decisions - Must determine: 1) what the program’s objectives will be, 2) which markets to target (through the use of list or marketing database), 3) what direct-marketing strategies will be employed, and 4) how to evaluate the effectiveness of the program Direct marketing objectives - Direct marketer usually seeks a direct response - Objectives of the program are normally behaviors (test drives, votes, contributions, and/or sales) - Typical objective is defined through a set response - Not all direct marketing seeks behavioral response: - Non behavioral- building an image, maintain customer satisfaction, educating consumers in attempt to lead to future actions Direct marketing strategies and media - One-step approach​- medium used only to obtain an order, goal to generate immediate order after seeing the commercial ect. - Two-step approach​- more than one medium - First effort is to screen and qualify buys - The second effort generates the response - Direct Mail-- ​“junk mail”; unsolicited mail you receive - Avg. household in US receives 21 direct mail pieces per week - Mailing lists​ are key-- ability to segment markets and the offer - Become more current and more selective, eliminating waste coverage - Segmentation on the basis of geography (zip codes), demographics and lifestyles has led to increased effectiveness - Most commonly used lists are of individuals who have already purchased direct-mail products - Companies can make a profit by selling these lists - Th
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