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MGT 247 Advertising & Promotion

Dr. Campbell

Week 1: January 4, 2022

What We Cover In Week 1

Introductions (video, class, turn in by Th)

What is marketing? (video)

What is the “promotion p”?

What are marketing communications?

What are steps and goals for marcom?

The what and why of brand

Course details (video, class Q&A)

Today

8 Intros – Who are you and why an MBA?

Questions on “What is Marketing” Video

Class content:

What is Promotion?

Goals for Marcom

What is a Brand? What is Brand Equity?

Using Marcom to Build your Brand

Questions about Course Details

Next Week

Questions on “What is Marketing”?

What is “Promotion”?

All elements in an organization’s marketing mix that facilitate exchanges by establishing shared meaning with the organization’s customers.

1/3/22

Promotion?

Earned

Media

Owned

Media

Paid

Media

Three Delivery Routes for Marketing Communications

Owned media – any property (web or “real”) that you control and is unique to your brand.

Owned. Website, company magazine or newsletter, blogs, white papers

Earned includes PR outcomes, likes, recommendations, reviews, strong organic ratings (from search engine optimization)

Companies rely on these different forms of marcom to help them market their products & services. Consumers rely on these for information they can use in making purchase decisions. Can drive traffic.

Overlapping components capture that one can be a driver of the other. For example, you engage in owned and paid media to drive earned media. You will put out a press release or a blog or a cool video that gains earned media.

Earned

Media

Owned

Media

Paid

Media

Marcom Delivery Routes and Control

More Control

Less Control

So, there are a lot of different communication tools. Let’s take a minute to think about what they have in common. What is offered by each type of marcom?

http://blogs.forrester.com/interactive_marketing/2009/12/defining-earned-owned-and-paid-media.html

Earned

Media

Owned

Media

Paid

Media

Marcom Delivery Routes and Trust

More Skepticism

More Trust

Steps in Marcom

Identifying the Target

Setting Goals/Objectives

Developing the Message

Selecting the

Media

Implementing the Campaign

Evaluating Results

Developing the Creative Solution

Steps in Marcom w 6 Ms Model

Identifying the Target

Setting Goals/Objectives

Developing the Message

Selecting the

Media

Implementing the Campaign

Evaluating Results

Developing the Creative Solution

Market

Mission

Message

Media

Money

Measurement

]

Big Picture Goals for Marcom

Big Picture Goal for Marcom

Gain & Retain Customers

Big Picture Goals for Marcom

Gain & Retain Customers

Convey Information & Value

Big Picture Goals for Marcom

Gain & Retain Customers

Convey Information & Value

“Here’s what we‘ve got. Here’s what it will do for you. Here’s how to get it.”

Leo Burnett

Big Picture Goals for Marcom

Gain & Retain Customers

Convey Information & Value

Build and/or Maintain the Brand

What is a Brand?

“… A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” (AMA)

… A promise and commitment that a firm makes to its customers.

… What consumers believe it to be.

Why are Brands Important?

What differential effects of brand equity provide value to a firm?

In what ways can brand equity allow differential effects that provide value to customers?

Activity

In breakout groups

https://docs.google.com/spreadsheets/d/1S6BvLfKKqmdXHmA3kAnk8tZb8_bkZMCXr4gpZdfxhyg/edit#gid=0

How does investing in a brand benefit an organization?

Brainstorm at least three ways and discuss why/how

How does a brand benefit a customer?

Brainstorm at least three ways and discuss why/how

Benefits of Strong Brand Equity

Greater brand loyalty

Higher willingness to pay (larger margins)

Less elastic responses to price increases

More elastic responses to price decreases

Communication efficiency/effectiveness

Resistance to competitive marketing actions

More “lenient” perceptions

Receptivity to extensions (licensing opportunities)

Greater trade cooperation and support

Customer Benefits of Brands

Reduce search costs

Mitigate perceived risk

Allow self expression

Provide use satisfaction

Maintain post-purchase satisfaction

Simplify

Decision

Making

Customer-Based Brand Equity Model

Brand

Definition: Customer-Based Brand Equity

The differential effect that

brand knowledge has on

consumer response to the

marketing of that brand.

Kevin Lane Keller

CBBE

Brand Knowledge is the key to creating brand equity

What do we mean by knowledge?

Associative Network Memory Model

Network of nodes and connecting links

Informational nodes linked to a brand node in memory

Many different types of information (nodes)

Different levels of strength between nodes (links)

Links represent the strength

Draw brand node and links to association nodes on board.

Think about a brand – if you know the brand, you have a node for it that is linked to various kinds or associations.

Knowledge

what is stored

MEMORY

Godiva?

Who knows the brand Godiva? Count – awareness.

What do you know about Godiva? Write down the first five things that come to mind - Brand associations

Know, what does the awareness and the meaning DO? I ran a study in which one group of consumers learned about that there would be a new chocolate introduced, another learned about Sees and one learned about Godiva.

Then I asked them questions like where would you expect to find this? How much would it cost?

Very different responses based on the brand – because of each consumer’s prior knowledge.

Brand Awareness and Meaning Drive CBBE

BE:

Differential

Response

Awareness

Brand Image:

Attributes/

Benefits

Customer-Based Brand Equity

BE:

Differential

Response

Awareness

Brand Image:

Attributes/

Benefits

Strong

Favorable

Unique

Associations

that are:

{

Develop a great product with desired, differentiated positioning

What is your core brand meaning?

Create awareness of the brand/product

Develop accessible, favorable, unique brand associations

Creating Strong Brand Equity

Understand, at a deep level, what they mean to consumers.

Understand the totality of their brand image.

Profile associations in terms of strength, favorability,and uniqueness.

Articulate the core brand associations and the key brand values.

Nike: “authentic athletic performance”

Visa (versus American Express in the 1980’s). Created points-of difference on “convenience” and “accessibility” and estalished pop on the basis of status and prestige. Negated American Express’s pod with parity on prestige and created pods.

Positioning is the basis of differentiation

Last class we talked about the fact that there are many different tools for communication.

At this point, in order to do this well, IMC is the current best solution.

So, what is IMC? Today’s reading discussed and gave a couple of different definitions.

Develop a great product with desired, differentiated positioning

What is your core brand meaning?

Create awareness of the brand/product

Develop accessible, favorable, unique brand associations by communicating consistent brand position/image in all communications

Creating Strong Brand Equity

Understand, at a deep level, what they mean to consumers.

Understand the totality of their brand image.

Profile associations in terms of strength, favorability,and uniqueness.

Articulate the core brand associations and the key brand values.

Nike: “authentic athletic performance”

Positioning is the basis of differentiation

Last class we talked about the fact that there are many different tools for communication.

At this point, in order to do this well, IMC is the current best solution.

So, what is IMC? Today’s reading discussed and gave a couple of different definitions.

Brand Positioning

The heart of marketing strategy

“the act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds.” (Kotler & Keller)

A Story of Pizza

In 1995 Kraft introduced a “rising crust” pizza. This was the first pizza with an uncooked, fresh-frozen crust. When cooked in the consumer’s oven, the pizza came out with a fresh baked, delicious crust.

DiGiorno

What position does DiGiorno communicate?

Story?

What type of media is this?

Website: Owned Media

DiGiorno

Defined a differentiated positioning frame of reference

Used all communications to develop associations

Linked to brand name

DiGiorno

Defined a differentiated positioning frame of reference

Used all communications to develop associations

Linked to brand name

Consistent

“It’s not delivery, it’s DiGiorno”

The Goal of Promotions/Marcom Management

Manage all brand contacts

to build a

strong brand

in relevant

constituencies’ minds

Our stated plan…

8 Intros

Questions on “What is Marketing” Video

Class Content:

What is Promotion?

Goals for Marcom

What is a Brand? What is Brand Equity?

Using Marcom to Build your Brand

Questions about Course Details

Next Week

Professor Meg Campbell

Anderson Hall 202

[email protected]

(Zoom – same link as class) Office Hours: Thursdays 2 - 4

and by appointment

How to Find Me

1/3/22

Course Details

Class Participation (15%)

NAME CARDS!

Reflections (15%)

Exercises (30%)

Final Project & Presentation (40%)

Reflections

No later than 8:00 pm Saturday following each class, pleases upload:

Two points you found important in the class material

If we discussed a case, two points about what you learned from the case, going beyond the specific case. What is important generalized learning?

1/3/22

Questions About Course Details?

Next Class

Read:

“Marketing Communications: Background Note”

“Core brand message: How to build a unique brand”

Read Final Project Description

Prepare for Reebok class discussion

Hand in:

Reflection 1/8/22

Hand in Reebok Break-even exercise 1/10/22

Introduction (Class Participation) – 1/15/22

See you next week