This slide tels us what are the economical and other important aspect involved in Marketing and Advertising Business. Must-See for those aspiring to have career in Advertising Sector.
2. ECONOMICS OF AD AGENCIES
• COMPONENTS/ INGREDIENTS TO MAKE AD AGENCY SUCCESSFUL; IN
ACHIEVING GOALS
• MOSTLY ASSOCIATED WITH BEHAVIORAL DYNAMICS OR BEHAVIORAL
ECONOMICS
• SUCCESSFUL BUYING OF AIRTIME/ SPACE IN MEDIA FOR ADVT.
• HELPS TO MAKE BETTER JUDGMENT, CONNECTION AND
RELATIONSHIPS BETWEEN INVESTMENT AND RETURN IN AD AGENCY
3. CONSTITUENTS OF AD
AGENCIES NELSON SCHMIDT
Transparency (Complete and Thorough)
Accountability and Credibility
Technological Leverage
Recognition as vanguard
Partnership and collaboration
Big data
Social/societal and consumer connection
Marketplace & technology
Teamwork
7. MARKETING MIX
•PROPOSED BY PROF. E. JEROME MCCARTHY
INTHE 1960S
•4PS (PRODUCT, PRICE, PLACE AND
PROMOTION)
•LATER , REFINED AS 4CS MIX
•INTEGRATED MEANS AND MEDIUM OF
MARKETING
16. •REGULATING CONTENT AND INFLUENCE OF
ADVT, (BANNING, CENSOR, LIMITATION)
•CODE OF CONDUCTS OF ADVT. STANDARD
(ADOPTED BY NEW ZEALAND, SOUTH AFRICA,
PAKISTAN, CANADA)
•HELPSTO MAKETHE ADS LEGAL,
TRUSTWORTHY AND DECENT
17. ADDITIONAL ELEMENTS OF AD AGENCY
ECONOMICS
Ad research
Market
monitoring &
Consumers’
reaction
Marketing
strategy
process
Business size
& Scale
Income-Profit
Understanding
consumers’
psyche (Their
Needs,
Demands &
Wants)
Creativity and
innovation
18.
19.
20. ADDITIONAL ELEMENTS OF AD AGENCY
ECONOMICS
(RORY SUTHERLAND)
Intellectual Framework and Nudge
Diversification (and convergence)
Loss aversion
Bandwagon (leader & celebrity)
Power of NOW & Instant Feedback
Power of channel preference & Interface
Scarcity value
Price perception
Choice architecture
