Advertising
Need to consider the following issues when considering whether to advertise:
Does the product possess unique, important features to focus on Unique Selling Point (USP)
Are the hidden qualities important to the buyers
Is the general demand trend for the product adequate
Is the market potential for the product adequate
Is the competitive environment favorable
Is the organization able and willing to spend the required money to launch an advertising campaign
Issues to consider for advertisers:
Reach: national, regional, local
audience: industrial, consumer
product: product, brand, institution
objectives: awareness, interest, evaluation, trial, adoption (inform, persuade or remind)
Decision making for advertising:
objectives setting
budget decision (stage in product life cycle, market share, competition and clutter, needed frequency, product substitutability)
message decision
message generation
message evaluation and selection ... USP ?
message execution: structure depending on media (print: headline, illustrations, sub headline, body copy, signature)
defined objective, defined product positioning, build product differentiation, consistent through campaign, strong integration, appropriate target market, simple product centered message, positioning of brand name within message
social responsibility issues ... a wider context of evaluation
media decision
reach (# of ppl exposed at least once), frequency (total number of times reached) and impact (quality of impact)
media types (TV (22%), Newspaper (23%), Direct Mail (20%), Outdoor, Magazines (6%), Radio (7%), WWW)
Media Vehicles (programs, WSJ, Yahoo, Vogue): cpm relevant market etc.
media timing
geographic allocation: national versus spot buying
ad effectiveness evaluation
Useful advertising links: adforum, Advertising Age, tbwa/chiat/day, Fallon, Organic, Mad Dogs and Englishmen
After reviewing NetRatings, discuss the state of advertising on the web.
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