Post on 01-Jan-2016
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6 Factors that drive consumer purchase
• Income and price – ex. Ikea (affordable)• Status – ex. BMW or Rolex watch• Current Trends – ex. skateboarding• Customs and Habits – ex. Wedding dress• Safety – ex. Helmet, snow tires• Promotion
What IS Marketing?
• Without it, not much would sell• Consumers wouldn’t know what is available• Can’t want it if you don’t know about it • (ex. Rollerblade!)
• 4 P’s• Research & development• Finding out what consumers want & making it
Marketing
• Without marketing, businesses wouldn’t sell as much• Can CREATE trends • Can INFORM • How has a product improved?• What does the product do?
Target market• The specific type of consumer your advertisement is directed
to• Example:• Mothers, with babies ages 1 to 2 years old, with an average to
high income
What makes an effective ad?
• Bright BOLD colour and font• Catchy slogan• Interesting or informative picture• Informative text• Humour, emotional appeal, fear (of injury or harm if you don’t
buy product)
Types of advertising media• Direct to home/flyers• Billboard• Radio• Television• Transit• Magazine• Newspaper• Online (Facebook or other social media sites)
Direct to home/flyer
Pros• Reach your targeted area
easily
Cons
Many just throw away and think it’s “junk mail”
Expensive to do mail-outs
Billboard
Pros• Reach your targeted region
easily• Relatively cheap
Cons
Distracting/dangerous to drivers
Vandalism
Ad is up for a long period of time – may not be seen as relevant after a while
Cannot put much text – hard to read from far
Radio
Pros• Short notice required• Reach local audience• Good for local events• Cheap
Cons
Detailed information may not be understood
People may change the radio station during commercials
Television
Pros• Detailed information can be
shown, including HOW to use a product or a comparison
• Video, sound, and great colour
• Can target specific interests based on shows people watch
ConsVERY expensive compared to
other media
Many have Netflix or PVR now and therefore do NOT watch any TV commercials
Transit
Pros• People who take transit
have more time to sit and read ads while commuting since they don’t have to pay attention to driving
• Able to print text since people have time to read it and generally you are closer to the ad than when it is a billboard
Cons
Hard to target specific demographic of age or interest
Can be vandalized
Magazine
Pros• High quality images • Longer shelf life than
newspaper• Sometimes get passed on
from person to person• Can target specific interest
groups (example “Knitting Magazine, Men’s Health, Electronics Geeks, etc)
Cons
More expensive than newspaper
Long set-up time (2 months in advance) required – may not still be relevant
Newspaper
Pros• Can easily target specific
demographic area • Relatively cheap• Quick turnaround time for
ad placement
Cons
Picture/ad visual quality is much lower than a magazine
Newspaper life is 1 day – ad is in recycle bin the very next day
Newspapers are being purchased less due to growing online readership
Online
Pros• Cheap • Reaches LARGE audiences• Can target Internet users
based on demographic area, age, and gender
Cons
Many do not trust these types of ads
New product• Awesome Electronics’ company is coming out with a new
product and they are looking for a new advertising firm to do their marketing.
• This is a type of new headphones that will change iTunes forever. These headphones will sense your mood and then suggest iTunes songs that you should listen to to go with your mood.
• Based on our class discussions of pros & cons of each media, select a medium that would be best to advertise this product, and create an effective advertisement