Textbook Notes (369,205)
Canada (162,462)
MGMA01H3 (184)
Chapter 15

Chapter 15 Notes

3 Pages
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Department
Management (MGM)
Course Code
MGMA01H3
Professor
Alison Jing Xu

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Description
Chapter 15 Advertising and Public Relations Notes Advertising advertising any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor although advertising is used mostly by business firms, a wide range of not-for-profit organizations, professionals, and social agencies also use advertising to promote their causes to various target publics marketing management must make 4 decisions when developing advertising program: setting advertising objectives, setting advertising budget, developing advertising strategy (message decisions, media decisions), and evaluating advertising campaigns Setting Advertising Objectives these objectives should be based on past decisions about the target market, positioning, and the marketing mix, which define the job that advertising must do in the total marketing program overall advertising objective is to help build customer relationships by communicating customer value advertising objective specific communication task to be accomplished with specific target audience during precise time period advertising objectives can be classified by primary purposewhether the aim is to inform, persuade, or remind informative advertising is used heavily when introducing a new product category as the objective is to build a primary demand persuasive advertising becomes more important as competition increases as the objective is to build selective demand some persuasive advertising has become comparative advertising, in which a company compares its brand with other brands reminder advertising is for mature productsit helps to maintain customer relationships and keep them thinking about product Setting the Advertising Budget advertising budget the dollars and other resources allocated to a product or company advertising program a brands advertising budget often depends on its stage in the product life cycle market share affects amount of advertising needed: because building market or taking market share from competitors requires larger advertising spending than maintaining current share, low-share brands need more advertising spending as percent of sales brands in a market with many competitors and high advertising clutter must be advertised more heavily to be noticed undifferentiated brands may require heavy advertising to set them apart when the product differs greatly from competitors, advertising can be used to point out the differences to consumers Developing Advertising Strategy advertising strategy the strategy by which the company accomplishes its advertising objectives; it consists of two major elements: creating advertising messages and selecting advertising media
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