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Marketing and Promotion Changes in Advertising A 1.1.6 Marketing and Promotion The main purpose of advertising is to: Get more people to buy Get people to buy more Marketing and Promotion The four P’s of Marketing (+ 1) Price Product Place Promotion People Marketing and Promotion Marketing Tools Advertising Sales Promotion Public Relations Sponsorship Direct Marketing Marketing and Promotion Advertising- portraying the product in a way that makes people want to buy it Main media: TV Advertising Cinema Radio Print Based Posters CCTV Marketing and Promotion AIDA A – Attract I – Interest D – Desire A - Action Marketing and Promotion Sales Promotion – Adding value to increase sales Added Value Offers Point of Sale Hands On Trials Radio Promotions Joint Promotions Competitions – National Challenges Marketing and Promotion Public Relations – achieving as much publicity as possible, preferably without paying for it Free Media Coverage Newsworthy Press Releases Celebrity Endorsements Special Events – World Cup/Olympics Marketing and Promotion Sponsorship Broadcast Team Event Marketing and Promotion Direct Marketing Direct mailing to customers Direct contact with customers Changes in Advertising Six Key Changes Changes in Advertising Content of Adverts Move from emphasis on Product to emphasis on Brand Media Development of technology Computer Generated Imaging(CGI) Morphing Viral Advertising Changes in Advertising Audience More Sophisticated Better Educated Media Literate Brand Aware Changes in Advertising Marketers Change of emphasis by marketers in response to the previous points – content, media and audience Changes in Advertising Markets Market Developments Changing Markets Children Growing Older Younger Not Confined to Countries by Language Power of the Image Changes in Advertising Advertising Advertising practice and processes have had to in respond to these developments and changes or fail and fall in its original intention – increase in demand for the product, revenue Changes in Advertising The THREE P’s of Advertising: Product Position Personality Changes in Advertising Creating a Brand Image The Brand Image must be tested against producers perceptions It must also be tested against the audience/consumers expectations Importance of Market Research Changes in Advertising Branding – Brand Image Branding is a key device since it removes the product from some of the most direct elements of the competition. Suppliers of service industry product have considerable difficulty in differentiating their product from competitors. Even if they manage to find a unique feature it is likely to be copied rapidly. Larger service companies tend to rely on branding – typically using the company name Changes in Advertising Brand 1 Name, term, design, symbol, logo or other feature that a company uses to identify its product or service. Companies try to create an attractive positive image for their brand in different ways How will you brand your Product/Service? Changes in Advertising Brand 2 Brand Extension – using a successful brand to introduce a new product within a similar category from the same company e.g. soft drink – diet version or new flavour, new car model How will you develop your product service? Changes in Advertising Brand 3 Adapting the marketing mix for a brand to keep it popular and up to date What will be the marketing mix for your product/service? Changes in Advertising Product Personality Substance – defined by shape, weight, how delicate, how robust Image – will appeal at different levels to different market segments Utility Value – WIIFM – value that the user feels accrues to them Changes in Advertising Product Life Cycle The notional longevity of a product or service The PLC can be extended by careful control of the Marketing Mix Price - Place - Product - Promotion Changes in Advertising Boston Group Matrix – Product Development Problem Rising Children Stars Cash Cows Dead Dogs Changes in Advertising Market How Segmentation an individual product may be targeted at the consumer How will you segment the market for your customers/clients? Changes in Advertising Market How Share a company will try and capture as much of the market for a given product Do you know what your market and market share is?