Promoting To A Target Market
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This document provides an overview of key marketing concepts related to targeting specific customer groups or markets. It defines target markets and discusses how companies analyze and evaluate potential target segments. Examples are given of how customer groups can be divided into targets based on demographics like age and income. Methods of promotion like personal selling, advertising, sales promotion, public relations, and publicity are introduced along with their purposes. The benefits of digital marketing through the internet are also outlined.
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This document provides an introduction to marketing concepts. It defines marketing as the creation of satisfying exchange relationships between customers and businesses. The seven basic marketing functions are described as product/service management, distribution, selling, marketing information management, financing, pricing, and promotion. Products are defined as anything offered by a business to satisfy needs, including goods, services, and ideas. Customers are those actively looking to purchase, while consumers are those using the product. The marketing mix and its four elements - product, price, place, and promotion - are introduced as the tools used to meet the needs of a target market. Market segmentation involves establishing the correct marketing mix and targeting it at specific market segments.
Yash mehrotra iitbhu
This document discusses five key decisions in developing an advertising program: mission, budget, message, media, and measurement. It outlines objectives like informative, remind, and reinforcement advertising. Budget factors include market share, product life cycle stage, competition, and substitutability. Effective messages have a big idea that connects rationally and emotionally. Media selection considers reach, frequency, and impact. Measurement evaluates communication and sales effects. Sales promotion and trade promotion tools are also discussed. Guidelines for brand building events include targeting markets, increasing brand salience, reinforcing images, promotional opportunities, enhancing corporate image, creating experiences, and expressing social commitment.
10Responsible MarketingThree arrows in a circle representing
This document discusses responsible and ethical marketing practices. It begins by outlining criticisms of marketing, such as unrealistic product portrayals and unhealthy cultural ideals promoted through advertising. However, it also notes the value that marketing brings by subsidizing information and entertainment, promoting positive social change, and allowing businesses to thrive. The document then discusses the importance of corporate social responsibility and ethical practices like avoiding manipulation of vulnerable groups. It explores issues around data privacy and emerging technologies. Overall, the document advocates for a philosophy of ethical marketing that benefits consumers, businesses and society as a whole.
10Responsible MarketingThree arrows in a circle representing
10
Responsible Marketing
Three arrows in a circle representing sustainable development.
Petmal/Thinkstock
Learning Outcomes
After reading this chapter, you should be able to
Discuss corporate social responsibility as a response to major criticisms of marketing.
Describe practitioners’ duty to the marketing discipline.
Discuss the impact of a green marketing strategy on the marketing mix.
Summarize the ethical obligations of individuals inherent in the employer–employee relationship.
List three marketing principles that apply to managing your personal brand for on-the-job success.
Describe three professional career paths in marketing.
Introduction
The moment you begin working in marketing, you assume responsibility for practicing high ethical standards with regard to your responsibility to the public, the marketing profession, the company that employs you, and the industry in which it functions. In addition, you must take responsibility for yourself—your individual performance on the job, your contribution to workplace teams, and your preparation for advancement. In this chapter you’ll learn to apply what you’ve learned about marketing to managing your personal brand while on the job.
This chapter approaches responsible marketing beginning with a wide-angle view of the effect of marketing practices on the public and the planet. Then the lens narrows with each section in turn to focus on concerns of the profession, organizational employers, and individual contributors.
The marketing field offers careers in many roles, suitable to a wide variety of personalities from analytical to creative. Where will you find your niche? This chapter ends with an exploration of the newest skills needed and the emerging locales where marketing practitioners will thrive. With an understanding of your role in responsible industry practices, this chapter concludes our study of the basic principles of marketing.
10.1 Responsibility to the Public
Over the past 50 years, the Super Bowl has become a shared American cultural experience, but not just because of love for football. Millions of people tune in to watch the advertisements. Since the rise of social media, Super Bowl advertising has become the centerpiece of integrated marketing campaigns that extend over many months (Sanburn, 2016). On social media, we’re drawn to the many ads that require our clicks to reveal a reward of some kind, whether it’s the punch line to a joke or our score on a game or quiz. We’ve grown accustomed to the blurring of the lines between entertainment and promotions, and not just on television.
As marketing communications move into new message channels, new forms of promotions have proliferated that bear little resemblance to paid advertising. The many forms of “advertainment” in today’s social media (branded videos, quizzes, and so on) place the burden on the public to decide whether products are being pitched—and in which instances that is appropriate ...
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- 2. Bell Ringer http://www.youtube.com/watch?v=Spa_l_12cIw What gifts are you asking for this holiday season? What gifts are your parents and grandparents asking for? How are companies promoting these products?
- 3. Target Market Review Definition - the market segment which a particular product is marketed to. It is often defined by age, gender and/or socio-economic grouping. Market Targeting is the process in which intended actual markets are defined, analyzed and evaluated just before the final decision to enter is made.
- 4. Target Market Example What are some of the ways that this class is split into target markets?
- 5. Personal Selling Definition – Any form of direct contact between a salesperson and a customer. Retail Business to Business Telemarketing Door to Door
- 6. Advertising Definition – A form of nonpersonal promotion in which companies pay to promote ideas, goods, or services in a variety of media outlets Famous Apple advertisement:http://www.youtube.com/watch?v=OYecfV3ubP8 Left half of the class write a benefit of advertising on the board on the left side
- 7. Sales Promotion Definition – all marketing activities (other than personal selling, advertising, and public relations) that are used to stimulate purchases. Try new products Build awareness Increase purchases Reward loyalty Right half of the class write a benefit of sales promotion on the board on the right side
- 8. Advertising vs Sales Promotion Think-Pair-Share: Individually work on identifying the difference between advertising and sales promotion Work with the person next to you to identify a definition that you can come put up on the board In the center of the chalk board, write the difference between advertising and sales promotion
- 9. Public Relations (PR) Definition –activities that enable an organization to influence a target audience. Create a favorable image Company Product Policies Cultivate media relations in the industry
- 10. Publicity Definition – bringing news or newsworthy information about an organization to the publics attention Positive vs Negative Reputation – Sheetz (look of work / bathroom promise from CEO) Scholarships Cultural Events
- 11. Public Relations Activity There is a major meltdown at the Fritos factory ovens down the road. The back-up ovens kicked in immediately, but they haven’t been used or cleaned in over ten years. All of the orders for the day will still go. If someone were to find out that older ovens were used, sales could drop and stock prices could go down. Factories workers may not get their holiday bonus. Half of the class will represent the PR department of the Fritos company and the other half will represent the media that has caught wind of the story and will print their version tomorrow. What will you say?
- 12. The Internet Definition - Aglobal system of interconnected computer networks. Benefits Cost Promotional Opportunities Becoming mainstream Negatives Not Tangible Some target markets do not have access
- 13. Take Home Review Quiz Work on your quiz until the bell rings. If you finish early, you may turn it in to be at the end of class. Have a great day!