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advertisement- introduction,how it works, types, advertisement procedure, budget

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ADVERTISING; HOW ADVERTISING WORKS; DECIDING OBJECTIVES, ADVERTISING BUDGET and ADVERTISING MESSAGE:

ADVERTISING; HOW ADVERTISING WORKS; DECIDING OBJECTIVES, ADVERTISING BUDGET and ADVERTISING MESSAGE PRESENTER: Agampreet Kaur L2014-DT-01-BTECH. COURSE INSTRUCTER: Dr. Inderpreet Kaur Assistant Professor Dairy Economics COLLEGE OF DAIRY SCIENCES AND TECHNOLOGY, GURU ANGAD DEV VETERINARY AND ANIMAL SCIENCES UNIVERSITY SUBJECT : MARKETING MANAGEMENT AND INTERNATIONAL TRADE

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OVERVIEW DEFINATION HOW ADVERTISING WORKS? OBJECTIVES CLASSIFICATION ON THE BASIS OF FUNCTION ON THE BASIS OF REGION ON THE BASIS OF TARGET MARKET ON THE BASIS OF MEDIA USED NON PRODUCT ADVERTISING 5 M’s OF ADVERTISING MANAGING ADVERTISING PROCESS DECIDING OBJECTIVES AND TARGET POPULATION ADVERTISING BUDGET MESSAGE DECISION MEDIA DECISION EVALUATION

WHAT IS ADVERTISING?:

WHAT IS ADVERTISING? Advertising is any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor

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HOW ADVERTISING WORKS? Advertising is a persuasive communication.

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OBJECTIVES OF ADVERTISING

CLASSIFICATION OF ADVERTISING:

CLASSIFICATION OF ADVERTISING Advertising can be classified on the basis of: Function Region Target Market Media Used

Informing Advertising:

Reminder Advertising Informing Advertising Persuasive Advertising Negative Advertising

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Global advertising National advertising Regional advertising Local advertising ON THE BASIS OF REGION

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Global Advertising National Advertising Regional Advertising Local Advertising

ON THE BASIS OF MEDIA USED:

ON THE BASIS OF MEDIA USED Audio Advertising Visual Advertising Audio-Visual Advertising Written Advertising Internet Advertising Verbal Advertising

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Idea advertising Service advertising Institutional advertising

5Ms in Developing Advertising Program:

5Ms in Developing Advertising Program Misssion Money Message Media Measurement

ADVERTISING MANAGEMENT PROCESS:

ADVERTISING MANAGEMENT PROCESS

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DECIDING ADVERISING OBJECTIVES Sales objective Communication objective Informing Forming favourable attitude Customer loyalty DECIDING TARGET POPULATION There should be no confusion regarding the determination of target population. Example: malt based chocolate milk drink

ADVERTISING BUDGET:

COMPETITOR SIMILARITY Common method employed by many companies. This method does not give any idea about company’s advertising needs and marketing needs. AFFORDABLE A dopted by many small organizations A dvertising budget is the amount which they can afford . This amount is not fixed. ADVERTISING BUDGET

ADVERTISING BUDGET:

FIXED PERCENTAGE OF TURNOVER F ixed percentage of annual sales turnover is set as a part as advertising budget. The limitation of the method is that it does not take into consideration the product life cycle or the competitive situation. BUDGET IN RELATION TO FUNCTION This method overcomes the limitations of previous methods. Amount of funds required to achieve the specified advertising goals is decided on a function to function basis. The budget is allocated based upon market to market, product to product and brand to brand basis . ADVERTISING BUDGET

ADVERTISING BUDGET:

STATISTICAL METHOD The firms may also employ some of the statistical method like regression analysis to decide advertising budget . This method uses part historical time series or cross sectional data to approve at budget estimates. ADVERTISING BUDGET

MESSAGE DECISION:

MESSAGE DECISION MESSAGE DECISION

MESSAGE DECISION:

MESSAGE DECISION MESSAGE GENERATION The product’s “benefit” message should be decided as a part of developing the product concept. Marketer might want to change the message over the time. MESSAGE SELECTION Focus on one core selling proposition. Appropriate appeal. Market research is must.

MESSAGE DECISION:

MESSAGE DECISION MESSAGE EXECUTION “What is said” “How it is said”. Message can be executed in a no. of ways, but the choice depends on target market Appropriate tone is must for the ad. Humor is avoided. Format elements affect an ad’s impact and its cost. Four color illustration gives better delivery. Example: Ads created by Lalit Manrai

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MESSAGE DECISION MESSAGE EVALUATION By planning the relative dominance of different elements, attractive ad can be made. The reader first notices the picture hence it should be effective enough to draw attention. Headline should be catchy so as to propel the reader to read the copy which should be well composed. Even then, a really outstanding ad will be noted by less than 50 percent of the exposed audience. About 30 percent of the exposed audience might recall the headline’s main point; about 25 percent might remember the advertiser’s name; and less than 10 percent will read most of the body copy. ( Kotler, Millennium Edition) Ordinary ads do not achieve even these results.

SOCIAL RESPONSIBILTY REVIEW:

Advertisers and their agencies must be sure their advertising doesn’t overstep social and legal norms. Public policy makers have developed a substantial body of laws and regulations to govern advertising . To be socially responsible, advertisers must be careful not to offend ethnic groups, racial minorities or special interest groups. EXAMPLE: US Laws SOCIAL RESPONSIBILTY REVIEW MESSAGE DECISION

MEDIA DECISION:

T he most cost-effective media to deliver the maximum number of exposures to the target audience. Reach Frequency Impact Media planners consider the following variables: Target-audience’s media habits Product Message Cost Ideas about media impact and cost must be reexamined periodically. MEDIA DECISION

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EVALUATING A proposed campaign should be tested in one or a few cities first and its impact evaluated before rolling it out nationally. Most advertisers try to measure the communication effect of an ad. They would also like to measure the ad’s sales effect . There are three major methods of advertising pretesting . Direct rating method Portfolio tests Laboratory tests

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References: http:// wikieducator.org http:// ecoursesonline.iasri.res.in http://managementstudyguide.com http:// www.slideshare.net Marketing Management- Millenium Edition , By: Philip Kotler

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