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Advertising Class Baruch College Week 3 presentation
 

Advertising Class Baruch College Week 3 presentation

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advertising business practices for advertising and marketing professionals

advertising business practices for advertising and marketing professionals

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    Advertising Class Baruch College Week 3 presentation Advertising Class Baruch College Week 3 presentation Presentation Transcript

    • AdvertisingAdvertising MKTMKT00350035
    • Chapter 3:Chapter 3: TheThe BUSINESSBUSINESS ofof AdvertisingAdvertising
    • Companies spendCompanies spend $$$$$$ billions all over the worldbillions all over the world on advertising, toon advertising, to establish their brands andestablish their brands and sell internationally.sell internationally.
    • The Players Advertisers Agencies Suppliers Media
    • It’s ALL Local  Half of all UUSS advertising is local – targeting customers within the same city/county as the advertiser.  4 Types of local advertiser: • Dealers/local franchises • Stores (convenience, grocery, Dept.) • Specialty services (banks, bars, restaurants) • Gov’t & nonprofit orgs (charities, municipalities, utilities)  Ad manager performs most planning, administrative & execution functions.
    • Regional/National  Regional: operate in one or more states.  National: in several regions of the country.  Share similar challenges as Local advertisers, but the larger the firm the bigger the need to strategically build and maintain strong brands.
    • Types of Advertising  Product  Sales  Institutional  Classified
    • Serve Your Client  To most effectively represent your client you MUST understand their challenges, business goals, market, competitors, budget, culture, etc.  3-A (text: page 61.)  My experiences at TMP Worldwide.
    • Integrated MarketingIntegrated Marketing CommunicationsCommunications
    • Building & reinforcing mutuallyBuilding & reinforcing mutually profitable relationships with customers,profitable relationships with customers, employees and other stakeholders andemployees and other stakeholders and general public by coordinating ageneral public by coordinating a strategic communications program thatstrategic communications program that enables them to make contact with theenables them to make contact with the company through a variety of media.company through a variety of media.
    • Co-op Advertising  Wholesalers and manufacturers often provide local advertisers (retailers) with READY-MADE co-op advertising, where the costs are shared.
    • The Ad Department  Centralized Versus Decentralized  Centralized: ONE Team for all ad needs  Decentralized: Separate departments for different divisions, regions, brands, or other categories.  Transnational: Advertise globally. (Ex. McDonald’s “I’m Lovin’ It“ in all 118 countries that it serves food in.)
    • The Ad AgencyThe Ad Agency
    • Ad Agency  Works solely for the good of its clients.  Employs blend of business and creative people.  Runs independently of the advertiser.
    • Types of Agency  Geographic.  Range of Services.  Specialized Service: Assist their clients with a limited type/range of expertise.
    • Ad Agency Jobs  Account Management: Teams that serve as liaison between the agency and the client.  Research & Account Planning: provide product, market and competitive information.  Media Planning & Buying.  Creative: The prima donnasprima donnas.  Traffic Management: Coordinates all phases of production.
    • Client-Agency Relationship  Clients come from referrals, networking, and community relationships.  Soliciting new business.  The presentation “pitch.”  The chemistry between agency and client matter most.  Dwindling client loyalty as per the agency REVIEW process.
    • The Suppliers  Art studios.  Web Designers.  Printers.  Film & video houses.  Research companies.
    • The TopThe Top 5050
    • The Media PlanThe Media Plan
    • Why Work in AnWhy Work in An Ad AgencyAd Agency
    • Remember Our TalkRemember Our Talk About OffensiveAbout Offensive Advertising?Advertising?