Marketing – Cheap Research Essays

Identify your favored advertisement? With the understanding you have learned, have you identified a new favorite advertisement?
• summarize your favorite ad. Describe why it is your favorite based on information you learned this week. Explore and explain what the intent of the ad is and why this ad works.

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Getting the Right Channel Getting your product to the right place at the right time at the right cost is critical to the survival of a business. Now that you have passed the halfway point of the course you need to start to understand how the product gets from the seller to the consumer. Distribution Distribution channels are the methods that get the product into the consumer’s hand. There are a few key words to learn, the supply chain is each stepping stone of getting the product from its raw goods into the saleable product. Every company that supplies part of the raw materials is avendor to the company that manufactures the product. The packaging company, shipping company, delivery trucking company and even retail store are a part of the chain that gets the product to market. Any broken or weak links can cause a delay – get it – links and supply CHAIN? (Anyway … let’s continue). Logistics Companies use a logistics company to deliver their product from a warehouse or factory to a store or the consumer. Logistic companies have made a business out ofone link of the supply chain, they deliver things. Their goal is that a truck takes a full load to a place and then picks up a full load and brings it back or takes it someplace else! As you think of your product or service idea for this course, keep these things in mind. You might come up with a new business! Direct marketing is another way that businesses can sell their product. Since the evolution of the internet (e-commerce) it has become easier for a small business to look like a large company. They can have a fancy online presence (web site) and ship directly to the consumer. Large companies use e-commerce and the internet to request products (a Purchase Order) and requestpayment (Invoice). Push or Pull Some products are demanded by the consumer and others are set out there by the manufacturer in the hopes of selling the product. These concepts are called pull (consumer says ‘give it to me’) and push (company says ‘here it is – buy it’) Do you know the idea behind retailing? You have a store or a web site, where you buy products, display them (marking up theprice) and then sell them (re-sale = re-tail) for a profit! If you have a great idea of how to sell things (products like food or services) you can even sell the WAY to sell things. This is called franchising – when you franchise something that means that you sell the idea of what the brand, store, logo or whatever, looks like to an investor that promises to sell things in the same way that you teach him to sell it! Anatomy of an Ad How do you sell your products? You ADVERTISE! Advertising is how a company tells the consumer about the brand, product or service. It can mean, radio, tv, magazine,mail,email or internet. It is the way you entice the consumer to purchase OUR product rather than someone else’s and it is the way you convince the consumer that they need or product (whether they knew it or not!). How do you advertise? Who do you target? You got it, the previous weeks of this course have taught us how to break down the market into segments and how to use focus groups and surveys. All of this continues to build as you now use that knowledge to “sell it”, make it sound good and make the target audience say “I want to buy that, I NEED that”. Some advertising may involve comparing our product to the competition or you might compare and contrast what it is like if the consumer uses our product or not. Advertising Objectives You can make our ads promote your brand (and have the brandsupport our product) – the customer thinks “I like (brand) so I should buy the new product, I will like it too”. Advertising can also play on our emotions. Do you recall an old commercial where a child gives a football player a soda – then the player gives the kid his jersey? This tells us that if this kid can give a drink to this player and the player is SO happy that he gives the kid a shirt, the drink must be really good and you would really like it too! Certain celebrities speak for products, this is an endorsement. If that movie star or sports star likes this product or service, the consumer feels that it brings them closer to the professional if they get it too. You, as a consumer, hardly stop to think about the fact that the celebrity is beingpaid to say they like/use the product. Advertsing Effectiveness How do you know if the advertisement worked? Before you start, set a goal. Newspaper, tv, internet, radio, whatever medium you use – it has a cost. You know it works if it sells the product of course but it is much deeper than that. If the public starts to hum the jingle or wear the color or recognize the brand at a glance, you the marketing manager know that you have accomplished our mission. Then you have to look back at the goals you set. If you said for every $1,000.00 of internet advertising you had to sell 5,000 units of our product, then you have to have a way to gauge the sales while the advertisement was running and see what the impact was to sales. Marketing managers, advertising managers and production, shipping and other managers have to work together as a team. Remember what was said earlier? What happens if you have a weak link in our supply chain? The consumer does not buy, the product does not sell – our company does not make a profit and guess who does not get a raise?! Iacobucci, D., Vanderbilt University, (2013). MM 4, 4th Edition, Cengage ISBN: 9781133629382 Read • Chapter 10 • Chapter 11