Chapter 2 - Advertising's Role in Marketing

Advertising’s Role in
Marketing
Part 1: Foundations
Chapter 2
What is Marketing?
The way a product is
designed, tested,
produced, branded,
packaged, priced,
distributed, and promoted
2
Key Concepts in Marketing
 The  Marketing should focus
first on identifying the
marketing needs and wants of
the customer
concept  To compete effectively,
marketers must focus
 Exchange on the customers’
problems and try to
 Branding develop products to
solve them
 Added value
3
 The  The act of trading a
desired product or
marketing service to receive
something of value in
concept return
 Money is exchanged
 Exchange for goods or services
 Branding
 Added value
4
 The  The process of creating
a distinctive and
marketing special meaning for a
product
concept  Brand equity is
reputation, meaning,
 Exchange and value that the
brand name or symbol
 Branding has acquired over time
 Added value
5
 The  A marketing or
advertising activity
marketing makes a product more
valuable, useful, or
concept appealing
 Exchange
 Branding
 Added value
6
The Key Players and Markets
 The  The organization,
company, or
marketer manufacturer
producing the product
 Suppliers and offering it for sale
 The advertiser or client
and vendors (from the agency’s
point of view)
 Distributors
and retailers
7
 The  Other companies that
manufacture the
marketer materials and
ingredients used in
 Suppliers producing the product
and vendors
 Distributors
and retailers
8
 The  Various companies
that are involved in
marketer moving a product from
its manufacturer to the
 Suppliers buyer
and vendors
 Distributors
and retailers
9
Types of Markets
 Market
 Where the exchange Business-
between buyer and
Consumer to-
seller takes place
business
 A particular type of
buyer
 Market share
 The percentage of the
total market in a
Institutional Channel
product category that
buys a particular
brand
10
The Marketing Process
1. Conduct research and develop a situation
analysis
2. Set objectives for the marketing effort
3. Assess consumer needs and wants
4. Differentiate and position the product
5. Develop the marketing mix strategy
6. Evaluate the effectiveness of the strategy
11
Marketing Mix Strategies
Product  The product is both
the object of the
Place advertising and the
reason for
Price marketing
 Product category
Promotion  A class of similar
products
12
Product  The channels used
in moving the
Place product from
manufacturer to
Price buyer
Promotion
13
Product  Based on the cost
of making and
Place marketing the
product and on
Price expected profit
 Customary
Promotion  Psychological
14
Product  Use face-to-face
contact between
Place marketer and
prospective
Price customer
 Used to create
Promotion immediate sales
15
How Agencies Work
Full-Service Agencies Specialized Agencies
 Include the four major  Specialize in certain
staff functions functions, audiences,
 Account management industries or markets
 Creative services  Creative boutique
 Media planning and  Media-buying
buying services
 Account planning
 Also have accounting,
traffic, production, and
HR departments
16
How Agencies Work
Account Creative
Management Development
 Acts as a liaison  People who write
between the client  People who design
and the agency ideas for ads and
 Responsible for commercials
interpreting the  People who convert
client’s marketing these ideas into
strategy commercials
17
How Agencies Work
Media Account Planning
Planning/Buying  Gathers all
 Recommends to information on the
the client the most market and
efficient means of consumers and
delivering the acts as the voice of
message the consumer
 Responsible for  Prepares
buying, planning, comprehensive
and research recommendations
18
Top Agencies
19
Wells, Moriarty, Burnett & Lwin - ADVERTISING Principles and Effective IMC 1-19

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