Managing Advertising, Sales Promotion Term Paper

Pages: 14 (4174 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business - Advertising

SAMPLE EXCERPT:

[. . .] Highly selective mailing lists can help marketers better direct their products and services so that consumers are more likely to show interest. For example, a direct mail campaign advertising $50,000 Bentley cars is not likely to have much impact in a rural, middle class section of society. Such advertising might be better suited for people living in million dollar homes on the West Coast.

The key to successful direct marketing is constructing campaigns that have taken into consideration the unique characteristics of customers and potential customers that are willing to buy. A good example of untargeted, unsuccessful direct marketing campaigns come in the form of "spamming." Spamming occurs when hundreds of thousands of unsolicited emails flood consumers private email boxes. Marketers flood consumer's emails with the hope that a consumer will click on their advertisement and buy their product. This is not an effective tool or marketing strategy. If spammers first identified the populations that are most likely to purchase their products and services, and then sent directed marketing emails, they would be much more likely to realize a return on investment.

Telemarketing is another avenue of direct marketing that often fails because companies set out to increase revenue without adequately researching consumer preferences and the market. The majority of consumers have begun actively campaigning against telemarketing efforts, by putting their names on national "no call" lists to prevent telemarketers from invading their homes during unwanted times of day and night. Telemarketing campaigns can be effective however, if the people conducting calls were trained better to end conversations when prospects seem poor, and pursue clients that have already been identified as expressing and interest in the products they are promoting.

One of the most critical keys to success and a sign of an effective marketing campaign is its ability to offer consumers something they feel they need, want and can't live without. A successful marketing strategy will also entail allowing consumers the option to opt out of a service if they change their mind. This technique helps build trust, and helps consumers feel that they are in control of the strategy at hand. Explosive growth potential also currently exists within the realm of e-marketing. More and more consumers are turning to the internet and electronic systems to purchase goods and services.

Competing in a competitive environment requires distinctive strategies. Many firms feel that successful marketing requires only the ability to differentiate their products. A great example of this is Kellogg's Eggo waffles, which now come in "16 flavors." However, provide such niche product differentiation will not necessarily sell more waffles; rather it is more likely that the consumer will spend a longer period of time in the supermarket trying to decide what type of waffle to buy, and then end up deciding to by pancakes instead because the product selection was less complicated. Investigating what solutions customers' value will result in sales, not excessive product differentiation.

According to the Consumer Electronics Association, "more devices have been launched from 1998 to 2003 than during the entire previous history of the industry."

Despite this little value has been added to the marketplace. Delivering outstanding customer service and investigating the needs of customers will go much farther in marketing strategy than simply developing new products. Most companies are not delivering effective and satisfactory customer service. In a world where customers are often forced to talk to endless voice messaging machines and computers instead of real people, service differentiation is perhaps the last outlet available to differentiate products and realize higher margins in an over cluttered marketplace.

Exceptional service is rarely available, and even good quality service is hard to come by in today's marketplace. Technology has automated so many aspects of service, yet people still enjoy face-to-face campaigns. A recent Pew Charitable Trust study recently disclosed that more than "94% of randomly selected consumers were frustrated with call centers" and other mass marketing campaigns that utilized non-personal marketing techniques.

Part of an effective marketing strategy involves promoting swift response times. A 2003 survey conducted by Jupiter Research shoed that the majority of consumers expected response time from email to be returned within 24 hours; the survey revealed that 29% of businesses do not respond to email at all, and only half of companies respond to email within 24 hours.

Convenience and reliability is also essential to an effective marketing campaign. One example of successful marketing is Amazon.com, which is rated among the highest on the American Customer Satisfaction Index. This is because the ecommerce organization has invested a great deal of time surveying consumers and investing in technology that helps facilitate convenient order processing. Customer service is exceptional on this website. Customer's value service, which literally defined in the American culture, translates into reliability and responsiveness.

Consumer behavior has been described as "the study of decision-making units and processes involved in acquiring, consuming and disposing of goods, services, experiences and ideas." Individual buying behaviors are often affected by "situational factors," which includes the macro-environment in which consumers are shopping in. The primary sources of Consumer behavior that regulate buying behavior and decision making are levels or perceived levels of satisfaction with the outcome of their shopping experience which indicates that customer service will play a key role in consumer buying behaviors.

Recent studies indicate that a majority of consumers perceive that the standards of service have deteriorated within the past five years, with almost 79% of respondents in a national survey affirming the decline in service. Many of the respondents (88%) indicated that there dissatisfaction was associated with a member of "staff or management."

Organizational transformation can occur in the form of marketing strategies directed toward utilizing consumer complaints, suggestions and thoughts as a source of feedback through which strategies can be adapted. Marketing strategists should keep in mind that more than 89% of people who have a bad experience will tell a friend about that experience. A corporate identity that cherishes consumers and promotes adequate service can be established through an aggressive marketing campaign; corporate identity receives a great deal of attention from consumers.

ADVERTISING

Successful advertising entails determining what tools will be most effective to reach markets. Advertising officials recognize that there are several demographics to consider, and must tie advertising, direct marketing and public relations initiatives together in order to address each of the demographics faced with effectively. Building short-term and long-term campaigns are essential to advertising success. Long-term campaigns often involve developing brand personalities that effectively reach out to consumers. Those campaigns that reach out to consumers on a personal level will be more effective that those that do not.

Advertising will only be effective if appropriate objectives are first established. These objectives should be established from sales, marketing and PR strategy. Advertising objective should be aimed at accomplishing the following: informing, persuading, reminding and/or reinforcing. Advertising that informs will create public awareness regarding a specific product or service. This type of advertising is most effective when marketing a new product, or an old product in a new region or demographic.

Informative advertising is also effective when attempting to educate a public. It helps address the question, "Why will my audience be interested in this product/service?" For informative advertising to be successful, it must first address the specific demographic to which it is appealing. This requires that the advertiser be knowledgeable about the consumer's particular interests and needs. A successful PR campaign will assist in this respect, enabling organizations to build more personal relationships with consumers prior to attempting to sell them products.

Persuasive advertising is effective when attempting to create preference and conviction within a population. Persuasive advertising is most often utilized when a manufacturer faces a great deal of competition within the market. For example, there are hundreds of brands of chocolate chip cookies on the market. An effective persuasive advertising campaign will cause consumers to purchase one brand over another. What sways a consumer? A majority of consumers purchase items because of "brand loyalty." Hershey's for example, has established brand loyalty over time; consumers are familiar with their products and trust that they are obtaining a quality product every time they buy something with the Hershey's label. A new manufacturer of chocolate goods would have to engage in a very aggressive persuasive advertising campaign in order to cause loyal consumers to switch plans.

A successful advertising campaign in this instance will require advertisers to identify what aspects of their product make it better than traditional brands. A good deal of time and effort should be invested in research to assess why consumers would want to switch brands. An effective persuasive campaign might convince consumers that if they purchase the newer product, the chocolate might for example, cause them to look slimmer. This idea is far fetched, but successful advertisers will realize that many consumers want to eat quality sweets but also have the conflicting desire to lose weight. An effective… [END OF PREVIEW]

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