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 ISN’T

• Production• Manufacturing

Marketing

• Without marketing, businesses wouldn’t sell as much• Can CREATE trends • Can INFORM • How has a product improved?• What does the product do?

Advertising

• PAID promotion of good or service• Mass media• Targets certain consumers

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