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Advertising
- 1. Advertising Year 10 BusinessManagement
- 2. Advertising Categories ▪ Retailadvertising ▪ Trade advertising ▪ Business-to-business (B2B) advertising ▪ Institutional advertising ▪ Product advertising ▪ Advocacy advertising ▪ Comparison advertising ▪ Interactive advertising ▪ Online advertising ▪ Mobile advertising
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- 5. B2B Advertising /Institutional Advertising
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- 12. Advantages & Disadvantages ▪The most effective media are often very expensive ▪ The inexpensive media may not reach your target audience ▪ The goal is to use the medium that can reach your desired market most effectively and efficiently
- 13. Advantages of variousmedia Medium Advantages Newspapers • Good coverage of local markets • Can be placed quickly • High consumer acceptance • Ads can be cut out and saved Television • Multiple senses used • Reaches all audiences • High attention with no competition from other material Radio • Low cost • Target specific audience • Very flexible • Good for local marketing Magazines • Target specific audience • Good use of colour • Long life of ad • Ads can be cut out and saved Medium Advantages Outdoor • High visibility • Repeat exposure • Low cost • Local market focus Direct Mail • Target specific markets • Very flexible • Can be kept Yellow Pages- type • Good for local markets • Widely used by consumers Internet • Inexpensive global coverage • Available at any time • Interactive Mobile advertising • Great reach among young consumers Social media • Wonderful communication tools
- 14. Disadvantages of variousmedia Medium Disadvantages Newspapers • Ads compete with other features • Poor colour • Get thrown away (short life span) Television • High cost • Short exposure • Takes time to prepare • Can be fast forwarded if recorded Radio • People may not listen to ad • Depends on one sense – hearing • Short exposure • Can’t keep it Magazines • Inflexible • Ads often must be placed weeks before publication • Cost is relatively high Medium Disadvantages Outdoor • Limited message • Low selectivity of audience Direct Mail • High cost • Consumers may reject ads as junk mail • ‘No junk mail’ signs • Easy to discard Yellow Pages-type • Competition with other ads • Can be expensive for small businesses Internet • Customers may leave site before doing anything Mobile advertising • Easy to ignore/avoid Social media • Time drain
- 15. ▪ Marketers mustchoose the media which is best suited to their audience ▪ Radio is less expensive thanTV advertising ▪ Often reaches people when they are no distracted – while driving ▪ However, there are so many commercials people tune out ▪ People find other ways to listen to music – ‘i’ devices, CDs ▪ Radio is good for advertising services people usually don’t read about in print media – such as banking, mortgages, education
- 16. Technological changes ▪ Mobilemarketing started as text messages ▪ Now, Starbucks in America can send signals to your phone as you get near a store reminding you to stop for a latte ▪ Kraft foods developed an iPhone app which gives users recipes, using Kraft products ▪ Email advertisements can build brand awareness and drive people to websites ▪ Starbucks has 12 millionTwitter followers and registers 19.3 million ‘likes’ on Facebook ▪ McDonalds has 800,000Twitter followers, and 7 million ‘friends’ on Facebook
- 17. Estimated US advertisingspend by medium, 2011 (in billions of dollars) Rank Medium Projected Adv Spend 1 Direct mail 52.3 2 BroadcastTV 36.8 3 Newspaper 23.4 4 CableTV 27.0 5 Radio 15.9 6 Yellow Pages 11.9 7 Consumer magazine 9.1 8 Internet 25.3 9 All other 39.7 Total 241.4 billion Benefit for us? • Informative • Products • Policies • Features • TV/radio ads pay for programs • Newspaper/magazine ads pay for production
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- 19. Television Advertising ▪ Hasmany advantages for national advertisers ▪ Is expensive ▪ For the Superbowl in 2013, the average cost of a 30 second ad was $4 million (US)
- 20. $12.4 million Superbowlad – worth it?
- 21. Television Advertising ▪ Hasmany advantages for national advertisers ▪ Is expensive ▪ For the Superbowl in 2013, the average cost of a 30 second ad was $4 million (US) ▪ Still a dominant medium, even though technology is improving ▪ Ads need to get better to make people want to watch them ▪ Many advertisers are switching to social media due to new program delivery systems
- 22. Product Placement ▪ Puttingproducts intoTV shows and movies where they will be seen ▪ ET is one of the most well-known with its placement of Reece’s Pieces ▪ What drink do the American Idol judges drink?
- 23. Reece’s Pieces –E.T.
- 24. Cinema Advertising Why Cinema? •Unrivalledadvertising impact •Captive and attentive audiences •Sought after demographics •Highly targeted scheduling •Uncluttered media environment •Premium programming showing first-run films •Fully accountable audience measurement system Taken from http://www.valmorgan.com.au/why-cinema/
- 25. PACT & RECALL Dynamic& single-minded ads that screen repetitively have impact & audience recall. INCREASE YOUR PROFILE Advertise 5 times a day, 7 days a week, 52 weeks a year. CREATE AWARENESS WITHIN YOUR LOCAL MARKET Local movie goers are local and loyal shoppers. CAPTIVE AUDIENCE Reach an audience who have paid to be there. There are no remote controls in the cinema. DESIRED DEMOGRAPHICS Your ad will reach a wide demographic - current and future buyers of your product or service. PRESTIGIOUS Your advertisement is on screen with multi-million dollar Hollywood Blockbusters. ALTER PERCEPTION No matter how small your business, you’ll look like big business when you advertise on the big screen. TARGETED AUDIENCE 83% of cinema audiences live within a 10-15km radius of their nearest cinema. ENVIRONMENT Patrons’ attention levels are heightened, they are relaxed, and expect to be entertained. AFFORDABLE From less than $2 per screening, it is an extremely cost effective advertising medium. http://www.starmediaplatinum.com/why-advertise.html
- 27. John LewisTV ad2013 ▪ £7 million - £1 million to make the ad ▪ Animation by some of the people who did The Lion King and Pocohontas ▪ Sung by Lily Allen
- 28. John LewisTV ad2014 ▪ Same cost: £7 million - £1 million to make the ad ▪ TV ad, a specially created smartphone app, story book, soft toys and in-store events including a chance for kids to see their toys brought to life with the aid of experimental gadgetry ▪ Song byTom Odell
- 29. BBC Music Launch ▪27 ‘superstar’ celebrities ▪ broadcast simultaneously across all BBC television and radio channels. It will be released as a charity single to raise money for Children In Need, and all the artists gave their time free