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Flashcards in Chapter 8 Deck (39):
1

what connects a marketing and advertising plan

brands value proposition

2

advertising plan

specifies thinking tasks and timetable needed to conceive and implement effective advertising effort

3

7 parts of advertising plan

introduction, situation analysis, objectives, budgeting, strategy, execution, evaluation

4

introduction

executive summary and overview

5

situation analysis

client and agency lay out most important factors that define market, consumers situation, and then explain each factor

6

situation analysis 4 parts

cultural and historical context, industry market and competitor analysis

7

cultural context - 2 biases to be succesful in international markets

ethnocentrism and self reference criterion

8

ethnocentrism

tendency to view and value things from the perspective of ones own culture

9

self reference criterion

unconscuous reference to ones own cultural values, experiences, and knowledge as a basis for decisions

10

historical context

history of company and brand to demonstrate extensive research

11

industry analysis

focuses on developments and trends within an entire industry and any other factors

12

market analysis

complements the industry analysis, emohasize the demand side -what drives and determines overall market

13

competitor analysis

determine who the competitors are to the firms brand - discuss strengths, weaknesses, tendencies, threats

14

objectives

identify goals in concrete terms

15

8 objectives

increase awareness, change attitude, influence purchase intent, stimulate trial use, convert one time to repeat users, switch consuemrs, increase sales

16

brand awareness

consumer knowledge

17

top of mind awareness

brand listed first when asked

18

create, change, or reinforce attitudes

alter beliefs

19

purchase intent

ask customers if they intend to buy a product in the near future

20

trial usage

try the brand

21

repeat purchase

conversion - second purchase can equal long term product success

22

brand switching

most aggressive persuaders to switch

23

well stated opjectives do 3 things

establish quantatative benchmarks, specify measurement methods and criteria for success. Specify time frame

24

quantatative benchmarks

quantifiable variables such as status of market share, awareness, attitude or other factors

25

measurement methods and criteria

make sure whatever is being measured directly relates to objective

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specify time frame

period of time allowed for desired results

27

budgeting

percentage of sales, share of market and voice, response models, objective and task,

28

percentage of sales

based on last year or projected sales

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share of market/share of voice

adv presence equal or greater to competitors

30

response models

relationship that associated dollars spent on advertising and sales generated

31

4 steps for implementing objective and task approach

determine costs based on build up analysis, compare costs against industry and corporate benchmarks, reconcile and modify budget, determine timeframe for payout

32

factors for building analysis

reach, frequency,timeframe, production costs,media expeditures, ancillary, integrating other promotional costs

33

strategy

"what you do" clear and concise, articulation of how the plan will achieve objectives

34

execution

actually doing it - copy strategy, media plan, IBP

35

copy strategy

copy objectives and methods

36

media plan

where ads will be placed and the strategy behind its placement

37

evaluation

how the agency will be graded

38

most important situational factor

demographic trends

39

what do clients want

creativity, data, efficient business processes, effective money managers