MKTG 341 Chapter 15: Chapter 15 Notes.docx
9 Dec 2014
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Advertising: any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor. 2 types of advertisement: product and institutional product advertisement. Takes 3 forms: pioneering, competitive (persuasive) and reminder. Pioneering: used in the introductory stage of the product life cycle; tells people what a product is, what it can do, and where it can be found; key objective is to inform the target market. Competitive: advertising that promotes a specific brand feature and benefits; objective is to persuade the target market to select the firms brand rather than that of a competitor. * form of competitive advertising is comparative advertising which shows one brands strengths relative to those of competitors. Reminder advertising: used to reinforce previous knowledge of a product; good for products that have achieved a well-recognized position and are in the mature phase of their product life cycle.
