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Advertising and Promotion

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Advertising and Promotion (MKT621)
VU
Lesson 6
MARKETING TOOLS
LECTURE OVERVIEW
In this lecture we will continue to explain the marketing tools, product life cycle besides
introducing the concept of SWOT analysis. Furthermore we will apprise regarding the
Marketing plan, market demand and the role of marketing and advertising agencies.
MARKETING TOOLS
Every product has a life cycle i.e.
·
Product has a limited life.
·
Product sales passes through different stages.
·
Profits rise & fall in different stages of PLC.
·
Products require different marketing, manufacturing, financial & purchase strategies in
each life cycle stage.
·
Competitive environment is different in every stage.
·
Products require different marketing, manufacturing, financial & purchase strategies in
each life cycle stage.
·
Competitive environment is different in every stage.
STAGES OF PLC (Product Life Cycle)
1. Introduction
2. Growth
3. Maturity
4. Decline
SWOT Analysis
1. EXTERNAL ENVIRONMENT ANALYSIS. (Opportunity & Threat Analysis)
Macro Factors ­ Uncontrollable Social- Legal-Economic-Political-Technology
Micro (Task) Factors ­ Direct Impact: Customers- Employees- Competitors- Distributors-
Creditors-Suppliers- Other stake holders
2. INTERNAL EVIRONMENT ANALYSIS. (Strength - Weakness Profile)
Basically related to functional areas: Marketing ­ Finance ­ Manufacturing -Purchase -
Research & Development. Information Technology, Human resource - Leadership ­ Image.
MARKETING PLAN
What is the need of marketing plan?
·
Provide assessment of current situation & position.
·
Focus efforts in an identified direction.
·
Give clear cut performance targets.
·
Identify ways to achieve targets.
·
Allocate resources.
·
Direct all towards common objectives.
Contents & Structure
·  Executive summary.
·  Current situation.
·  Performance review. (for existing product or service only).
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Advertising and Promotion (MKT621)
VU
·  Key issues.
·  Marketing objectives.
·  Marketing strategy.
Marketing Action Plan
1.  Target market
2. Mixing of market variables (4 `P's).
3.  Responsibility of action.
4.  When & where the action will be?
5.  How much budget for each action?
6.  Projected profit & loss statement.
7.  Controls.
8.  Contingency plan.
Marketing Demand
Two Tools for Estimating Market Demand:
Qualitative
·  Buying intention survey.
·  Sales force opinion.
·  Panel of experts. Useful for estimating demand for a new product.
Quantitative
·  Sales volume.
·  Sales trend.
·  Economics.
ROLE & FUNCTION OF ADVERTISING
·
Acquire enhanced volumes of sales of products & services.
·
Generate awareness about offerings.
·
Induce trial of a new product & service.
·
Motivate & impress trade channels.
·
Change perception & create reassurance.
·
Influence staff.
·
Support sales promotional sponsorships & public relations activity.
·
Make announcements in public interest.
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Table of Contents:
  1. INTRODUCTION TO ADVERTISING:Its growing importance, Explanation of Personal and non-personal selling
  2. INTRODUCTION TO ADVERTISING:ADVANTAGES, Communication, Information, Various Media
  3. INTRODUCTION TO ADVERTISING:FUNCTIONS OF ADVERTISING, IMPACT OF ADVERTISING
  4. ADVERTISING AND SOCIETY:PRACTICAL BENEFITS, ETHICS IN ADVERTISING, Marketplace & Market space
  5. MARKETING TOOLS:COMPONENTS OF MARKETING MIX, PRODUCT LIFE CYCLE (PLC) CURVE
  6. MARKETING TOOLS:SWOT Analysis, Contents & Structure, ROLE & FUNCTION OF ADVERTISING
  7. ROLE AND FUNCTIONS OF ADVERTISING:Structure of an Advertising Agency, How to Select an Advertising Agency
  8. ADVERTISING PLANNING:ADVERTISING OBJECTIVES, Types of Advertising, Positioning Strategies
  9. POSITIONING:BRANDING, 7 Steps of Creative Process, UNIVERSAL ADVERTISING STANDARDS
  10. ADVERTISING MESSAGE:Message Content, BASIC TERMS & CONCEPTS
  11. ADVERTISING BUDGET:4 Methods to determine, ADVERTISING RESEARCH, ADVERTISING RESEARCH
  12. ADVERTISING REACH:BROAD COMMUNICATION OBJECTIVES, ADVERTISING COPY METHODS, MEDIA RESEARCH
  13. PRE – PLACEMENT EVALUATION:ACCOUNT PLANNING, MARKET, COMPETITION
  14. WORKING OF ADVERTISING:12 Steps to develop effective campaign, SOURCE or THE ADVERTISER
  15. ADVERTISING RESPONSE HIERARCHY MODELS:AIDA MODEL, PROCESS REQUIRED TO GET BIG IDEA
  16. PROBLEM SOLVING STRATEGIES:Procedure to Handle Problems, In brief, Eight principles apply to consumer behavior
  17. CONSUMER BEHAVIOUR:ADVERTISING APEALS, MEDIA MIX DECISIONS, Target Rating Point (TRP)
  18. CREATIVITY IN ADVERTISING:Three aspects are most accepted, Four Rules of Creativity
  19. COPY WRITER:CHARACTERISTICS OF COPYWRITER, IMPORTANCE OF LANGUAGE
  20. WHY ADVERTISING:Advertising & Market Education, ADVERTISEMENT CAMPAIGNS
  21. METHODS TO APPRECIATE A PROBLEM:SPONSORSHIP—an important tool, Special Characteristics
  22. IMPORTANT TOOL OF ADVERTISING:TELEVISION ADVERTISING, TRANSIT ADVERTISING
  23. ONLINE ADVERTISING:Banners, Logos, Email Ads, Keywords on Search Engines, New Developments
  24. ONLINE ADVERTISING:Structural Challenges, Adobe Photoshop, JAVA, HTML, DHTML, ASP & JSP
  25. SALES PROMOTION:Consumer Oriented Promotion, HOW TO USE TRADE PROMOTION, Dealing with the Trade
  26. PUBLICITY:PERSONAL SELLING, ROLE OF SALES PERSON, FUTURE OF GLOBAL ADVERTISING
  27. MARKETING ENVIRONMENT:Competitors, The Target Buyer, Segmenting your Market, FUTURE OF MARKET GROWTH
  28. MARKETING PLAN:Situational Analysis, Macro – Environment Situation, Marketing Objectives, Financial Objectives
  29. MARKETING PLAN:PROMOTING BUSINESS IN LOW COST, SUPPLY CHAIN, BUYER IDENTIFICATION
  30. HOW TO BE GOOD CLIENTS:CHANNEL BUYERS, HOW TO BE GOOD CLIENTS 14 RULES
  31. CLIENT – AGENCY RELATIONSHIP:HOW TO KEEP CLIENTS (10 Ways), Three Points for Consideration
  32. CLIENT – AGENCY RELATIONSHIP:ADVERTISING WITHOUT AN AGENCY, LOGO AND CORPORATE IDENTITY
  33. NEWSPAPER ADVERTISING:AD PRODUCTION,TYPES OF NEWSPAPER ADS, CIRCULATION
  34. OTHER ADVERTISING MEDIUM:HOW TO USE MAGAZINES, HOW TO USE RADIO, Daypart buying options
  35. UTILITY OF VARIOUS MEDIA:TAPE OR FILM, UTILITY OF TV, DIRECT MAIL PACKAGE
  36. OTHER ADVERTISING MEDIA:POINT OF PURCHASE (POP), TRANSIT ADVERTISING, LIMITS OF ADVERTISING
  37. CONTINUOUS TRACKING:PLANNING CAMPAIGN, HOW TO UNDERSTAND ADS, ASK BASIC QUESTIONS
  38. SEASONAL ADVERTISING:MAXIMIZING IMPACT, THE WEB ADVERTISING, MEASURING ADVERTISING
  39. COMPONENTS OF ADVERTISING:BUY - OLOGY OF MIND, BUY - OLOGY OF MIND
  40. CRITICISM ON ADVERTISING:SHOULD ADVERTISING BE ABOLISHED,
  41. EFFECT OF ADVERTISING:HOW TO PROMPT AWARENESS, CREATING DESIGN THAT SELLS
  42. CREATING EFFECTIVE DESIGN:LANGUAGE OF TYPOGRAPHY, HEADLINES THAT COMMUNICATE
  43. WORKSHEETS:DEMOGRAPHICS OF YOUR TARGET, YOUR COMPETITOR
  44. GLOSSARY OF ADVERTISING:ACCOUNT EXECUTIVE, PROOF, VOICE OVER
  45. CONCEPT OF AN AD:HOW TO DEVELOP A CONCEPT OF AN AD