chapter 2: Marketing/Advertisment Flashcards
test knowledge
what is marketing and advertising?
Persuading people to buy a certain product.
Marketing defn
Marketing is anything done to gain customers (a strategy put in place, or things such as, the packaging, the colors and decor, celebrities) “activities” done to bring attention to your product.
Advertisement defn
More expensive and visual ways to bring attention to your product (such as ads.)
The Key Players and Markets
The marketers
Supplies and vendors
Distributors and retailers
The organization, company offering it for sale
The advertiser or client (from agency pov)
Difference between Ad and Pr
Ad is:
Paid
Guaranteed placement
Builds exposure
Visual
Expensive
Public relations is:
Earned
Builds trust
Media gives third-party validation
No guarantee
less expensive
what do advertisments try to appeal to?
the intelligence, emotion and subconcious
3 different ways to advertise?
Print brochures
Outdoor ads=billboards
broadcasting=audio ads
what are the 8 different Ad techniques?
1- Manipulation: testimonials
2- Repetition: a song or a repeated phrase in commercial
3- scare techniques
4- snob approval: to keep up with trends
5- limitations: limited time only
6- association: product is used by a celebrity so why aren’t you using it?
7- enjoyment: for better success
8- Humor: laugher will get your attention
what are the 4 ps?
Product, price, place, promotion
Direct competitor?
people offering same services ex=catering
Indirect competitor?
those who offer an alternative product that meet the same needs ex=Hellofresh
Who-was-that-masked-man competitor?
offers a completely different product that the customers will chose over your product ex=drivethru
insertia?
no interest at all in the product
Direct costs= variable costs
list 5
Materials required
Shipping
Lease payments
Wages for employees
Delivery costs
Indirect costs= fixed
list 4
Wages
office supplies
Advertise expenses
Rent for work space
