Advertising and Promotion Strategy
2024
Value - answer The perceived benefit by customers and can involve a range of benefits including the
more traditional economic and functional value as well as identity, community, and experiential value.
Advertising - answer Advertising's main function is to communicate this value to the selected audiences.
What is marketing? - answer Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have values for customers, clients, partners
and society at large.
Identity Value - answer Consumers use products/brands for what they mean and to help construct their
self-concept and social identity. Accordingly a person's choice of clothing, for example, may
communicate inferences about their personality (ex. sexy, conservative, creative), lifestyle and values
(ex. casual, sporty, goth, punk, hippie), their social roles (ex. stay-at-home mom, business man). and
social class standing (upper, middle, or lower class).
Community/Linking Value - answer Consumers look for products/brands to link them to community and
to facilitate/enhance relationships with others (family, friends). So products are marketed based on not
necessarily function of benefit but for their linking value. Example: popcorn facilitating family time,
Facebook bringing friends together, brand communities.
Experiential Value - answer Consumers value the unique experiences the brand has to offer (Ex. Themed
Retail Stores, Starbucks, Apple).
Economic Value - answer Consumers prefer products/brands that help them save. Especially in the midst
of an economic crisis, most brands advertise based in "lowest price" and helping families save. For stores
such as Wal-Mart, 99 cents only stores, and Sears, this is their main positioning strategy.
, Functional Value - answer Consumers buy products/brands for the functional benefits offered. While
differentiation solely on the basis of functional value is difficult, some brands emphasize their technical
capabilities (ex. Intel processor, Hefty garbage bags).
What is Integrated Marketing Communications? - answer A concept of marketing communications
planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a
variety of communication disciplines - for example, general advertising, direct response, sales,
promotion, public relations - and combines these disciplines to provide clarity, consistency, and
maximum communications impact.
IMC involves coordinating the various promotional elements and other marketing activities that
communicate with a firm's customers. Many ad agencies offer one-stop shopping for all their client's
promotional needs.
What are the steps involved in creating the IMC planning? - answer a) A detailed situation analysis that
consists of an internal marketing audit and review and an external analysis of the market competition
and environment factors.
b) Specific marketing objectives that provide direction, a time frame for marketing activities, and a
mechanism for measuring performance
c) A marketing strategy and program that include selection of target market(s) and decisions and plans
for the four elements of the marketing mix (price, product, placement, promotion).
d)A program implementation for the marketing strategy
e) A process for monitoring and evaluating performance.
Marketing and Advertising - answer Marketing creates value for selected audiences. Advertising
communicates this value to selected audiences.
Segmentation - answer Division of market into meaningful, identifiable segments or groups.
What are the bases for segmentation? - answer Geographic Segmentation
