Lecture 4 products and advertising final


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Lecture 4 products and advertising final

  1. 1. ADVERTISING: KEY THEMES JN2702 – David Beckham’s pants
  2. 2. recap  Considered how to understand an audience: demographics and segmentation  Psychographics can help you understand your market’s values and interest areas  Old marketing structures put in place a range of gatekeepers  Digital platforms offer a new way to engage with people/audience/consumers/prosumers  Market research can be employed to help you get to know your consumers  Marketers need to know the capacity of their company  Ps and ABCDEs can offer a good structure to generate a marketing plan  Marketing plans need to be considered over a short, medium and long term strategy  Constant vigilance is required within competitive and changing marketplaces
  3. 3. Today and next week’s plan  Look at advertising  Look at online advertising  Look at how online advertising generates cash  Look at viral advertising  Look at viral sustainability and new opportunities  Look at David Beckham’s underpants
  4. 4. Key reading  Powell et al: Celebrity can be a useful tool when positioning a product or service  Powel et al: A range of research methodologies can be used to establish what your consumers and audience want, require and are content with  Powell et al: Advertisers work within specific markets and segmentations. Ultimately, they see fragmentation  Powell et al: highlight the concept of ‘glocal’ and some of the issues arising from it, in terms of geographic recognition  Powell et al, Zyman and Tapscott: Social networks should be seen as places for conversations, and herald the concept of user-engagement  Powell et al, Zyman and Tapscott: The web allows us to choose who, what and how we interact with
  5. 5. Remember: Media as dual product (Picard, 2010)   Advertising Subscription/purchase Organisations may need to keep both ‘customers’ and advertisers’ happy Or figure out how a new media product will pay for itself down the line without relying on advertising or subscription revenue. Either way, eyeballs are key
  6. 6. The Advertising Conundrum “Half the money I spend on advertising is wasted, the trouble is I don’t know which half.” John Wannamaker
  7. 7. Marketing Ps: Positioning  Positioning is open to a number of interpretations  Generally, positioning can be understood to create an impression of a product within the mind of a target audience, and within the market as a whole  Advertisements can assist in positioning a brand in the minds of consumers, or re-align a brand that marketers feel is not occupying the correct market ground Don’t worry, the next two slides feature David Beckham
  8. 8. Celebrity
  9. 9. Brainstorm: Why David’s underpants?
  10. 10. Things to consider when ‚brainstorming David Beckham’s underpants‛  Market demographics  Market segmentation  Brand identity  Aspirationalqualities
  11. 11. Brainstorm: How could media organisations use ‘celebrity endorsements’?
  12. 12. But, it’s all about ‘conversion’ Isn’t it?  Advertising can play a key role in the ultimate aim of most marketing activity: selling stuff  How can media organisations monitor the success of advertising?     Establish ROI Sales data can set a benchmark Monitor impact/progress from that benchmark Beyond sales: Are there any alternative ‘value metrics’ that advertising can offer?
  13. 13. Advertising: cultural resonance Cadbury Schweppes reported 5% revenue growth in 2007
  14. 14. Charity: awareness
  15. 15. Added value: social capital Music sales: Just over 100,000 copies sold to date. iTunes charts: 28 countries. Peaking at No. 3 in Hong Kong. Free downloads: 250,000 Pirate downloads: Plenty Youtubeviews: 59.9 Million Social shares: 3.94 Million Game: 15.1 Million players Current daily players: 1 million App Store ranks: No. 1 free app in 18 countries Earned Media: $60 million in six weeks. REDUCED ACCIDENTS BY 21%
  16. 16. Multimedia Dumb Ways to Die
  17. 17. Next week: More digital ads, more social  Investigate how a news website can make money from advertising (including ad rates, if possible)  Investigate how social media platforms are turning advertising into revenue  Investigate ways news sites are making money without using advertising  Check out our web 2.0 learning resources (P.S. they don’t exist yet)