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Chapter 7 Global advertising expenditures in 2005 estimated at $521 billion Spending on all forms of advertising in the U.S. that year estimated at $280 billion So more spent in the U.S. alone than the rest of the world combined: $241 billion 300 million people in the U.S. versus 6 billion in the rest of the world Advertisers spent more than $800 per person in the U.S. vs. $40 per person in all other foreign countries Compiled by Ad Age magazine see figures Marketing- deals with selling goods and services in general Advertising- involves selling products and services by creating texts (such as print advertisements and commercials) that are paid for by a sponsor of some kind To better target specific audiences, marketers have broken down American society into various segments on the basis of demographic factors (such as age, race, gender, geographical region, education, income, and zip code) And psychological factors (values, beliefs, lifestyle preferences) These typologies are classification systems to deal with the various types of consumers in America Marketers seek some typology that will help get people to buy a given product or service 9 Types of Consumers (pages118-120) Need-Driven ($ restricted) 1. Survivors 2. Sustainers Outer-Directed (seek approval) 3. Belongers 4. Emulators 5. Achievers Inner-Directed (satisfy inner needs) 6. I-Am-Me’s 7. Experentials 8. Societally Conscious Individuals Integrateds (mature, tolerant, self-assured) 9. Integrateds Merrill Lynch switched its ad campaign from “Bullish on America” (illustrated with a herd of bulls) to “A Breed Apart” (illustrated with a lone bull) “Bullish on America” appealed to belongers- the essentially middle-class conservative members of the mass market who want to fit in But Merrill Lynch decided belongers were not as good a market as achievers Their research determined that those in the “achiever” category liked the “Breed Apart” ads much better than the “Bullish on America” ads And they had more money to invest This VALS typology understands the theory that as people grow they fill certain needs for survival and security Then they seek a sense of belonging Next, they strive for self-esteem And then move upward to “self actualization,” developing their inner self and realizing their full potential Thus using this typology, advertisers are able to make appeals that will resonate most directly with the deep-seated beliefs, values, and lifestyles of different segments of the American population The old saying “Birds of a feather flock together” suggests that people who live in a given zip code tend to have similar socioeconomic levels The Claritas Corporation used zip codes to classify 250,000 neighborhoods in the U.S. into consumer clusters Claritas (now called Nielsen-Claritas) boiled the tendencies down to 66 different categories of consumers (see list on pages 125-126) The thinking is that by knowing who you are targeting for your advertising, and what they are like, you can do a better job of reaching them Take the test, see if you agree with the generalizations! Click here Five Groups or Media Communities: Home Engineers Real Guys Ethnic Pewneps (People Who Need People) Information Grazers Armchair Adventurers (pages 127-128) Another List Strivers (23%)- middle-aged, materialistic; value status, wealth and power; found in developing and developed countries Devouts (22%)- believe in more traditional values such as faith, obedience, duty, respect for elders; found in Middle East, Africa, Asia Altruists (18%)- as a rule, are well-educated, older (median age 44); interested in social causes/political issues; tend to be found in Latin America and Russia Intimates (15%)- “People who need people”; primarily concerned with relationships with spouses, family, friends, colleagues, significant others; found mostly in UK, US, Netherlands, Hungary; heavy use of media a common trait Fun Seekers (12%)- youngest group; interested in excitement, pleasure; adventure; value looking good and spending time in restaurants, bars, clubs Creatives (10%)- focus is on technology and knowledge; are trendsetters who own computers, love the Internet, consume the greatest amount of media- all kinds Marketing organizations are gaining valuable insights into people’s attitudes towards various products by searching through chat rooms, message boards, and the millions of web logs on the Internet The opinions of bloggers, unsolicited and honest, can be seen as a gigantic focus group my marketers Language-processing algorithms can track positive and negative mentions of a brand and predict the age range and gender of opinion sharers Advertising agencies are also using blogs to get their message out by purchasing space on popular blogs, some of which are read by thousands, even hundreds of thousands Ads have to be done in a way not to turn off the bloggers and the blog readers