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Welcome to Advertising z. Get this book YESTERDAY!! y. Arens: Contemporary Advertising z. Bookmark these on web! yhttp: //highered. mcgrawhill. com/sites/0072415444/ yhttp: //faculty. bus. olemiss. edu/vbush/

MKTG 353: Advertising!! y“If you can’t turn yourself into a customer, you probably shouldn’t be in the advertising business at all” y--Leo Burnett

What’s advertising? y 1) Advertising is glamorous y 2) Advertising doesn’t pay well y 3) You have to be creative in advertising y 4) You need experience to get into advertising y 5) There are no jobs in advertising THESE ARE MYTHS!

No, really …What’s Advertising? y. Non personal communication y. Usually paid for y. Usually persuasive y. About products y. Through media

Advertising and Marketing z. The Marketing Concept: y. The key to achieving organizational goals consists of determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors.

Advertising within the Marketing Concept z 1) Consumer Orientation: y. Advertising interprets the brand in terms of wants and needs of buyers y. Decisions about copy and art are dictated by consumer interests. z 2) Commitment to Research: y. Decisions made from research of the target audience. y. Questions of what to say, how to say it, and where to say are answered by research.

Advertising within the Marketing Concept z 3) Profit/Goal Orientation y. Advertising is used because it is the most effective and efficient way to communicate with target. y. Levels of advertising investment may be related to profit goals. z 4) Integration of Company Effort y. Advertising is coordinated with every other component of the marketing mix(? ) y. As well as the promotion mix (? ).

Advertising and Mktg Mix z 1) Product y. PLC y. Industrial vs. consumer y. Branding y. Packaging z 2) Pricing y. Prestige vs. value

Advertising and Mktg Mix z 3) Place (distribution) y. Intensive y. Selective y. Exclusive z 4) Promotion mix y. Personal selling y. Sales promotion y. Public relations

Great Ad Sources z. Advertising Age zhttp: //www. adweek. com/ zhttp: //advertising. utexas. edu/world/ zhttp: //www. agencycompile. com/ zhttp: //www. aaf. org/

The Ad Industry: z. Major Players: y. Consumers y. Competition y. Government y. Client (Sponsor) y. Ad Agency

Agency Services/Functions z 1) Account Services -- Suits z 2) Creative Services -- Eccentrics z 3) Media -- Eggheads z 4) Research/Account Planning-- Mind Melders z 5) Production-- Baseball Hats/Next Speilbergs

Functions Ctd. z 6) Traffic -- Gophers z 7) Administration/Finance -- Bean counters z 8) New Business -- Pitchers z 9) Legal -- @#%&%!* Lawyers!

How do you select an agency? z. Strengths: y 1) y 2) y 3) y 4) y 5) Creative talent – “big idea” Know client’s business Quality people Client relationship Well organized

How do you select an agency? z. Weaknesses: y 1) y 2) y 3) y 4) y 5) y 6) Lack of knowledge of client’s business Cost estimating Lack creativity Poor account executives Hype and misrepresentation Inconsistent service

Full Service Agency Alternatives z 1) In-house agency z 2) Creative boutiques z 3) Media buying services

Why use an agency? z 1) Specialized knowledge z 2) Objectivity z 3) Commission system

Compensation Issue! z 1) Quality vs. quantity z 2) No incentive to reduce costs z. Example: y. Sports Illustrated vs. x$75, 000 x 15% x$11, 250 x. Which would you pick? ! Inside Sports $20, 000 15% $3, 000

Advertising is full of lies! “It’s a desert topping and a floorwax” Dan Akroyd

Advertising makes you buy things you don’t want! z. When was the last time you came home with a bag of stuff you had no use for? z. Nothing short of a pointed gun can get anybody to spend money on something s/he doesn’t want.

Advertising makes things cost more! z. It often brings prices down. z. Advertising creates mass markets for products. z. The more product produced, the lower the price. z. Competition can bring prices down even more!

Advertising helps bad products sell! z. The only thing advertising can do for a bad product is help you find out its bad. z. You probably won’t buy it again!

Advertising is a waste of money! z. Why don’t we just pull all that money and put it into our national economy? z. We already do! z. Advertising helps sell products…. z. Which helps hold prices down… z. Which help sales even more! z. Hey! Advertising helps pay for the newspapers, magazines, and TV shows you watch!

Ethics and IMC z. What’s ethics? z. What’s it got to do with IMC? z. How does ethics relate to you?

Marketing and Advertising Ethics z. Marketing ethics -- Principles that define acceptable marketing practices z. Advertising Ethics -- In addition to marketing ethics (i. e. , profits), agencies must consider needs of client!

Ethical problems for ad agency execs: z 1) Treating clients fairly! 2) Creating honest, non-misleading ads! 3) Representing clients whose products are unhealthy, unneeded, useless!

Components of Ethics z 1) Individual Factors – Moral Philosophies z 2) Organizational Factors – Relationships z 3) Opportunity – can you get away with it?

Individual Factors Moral philosophies z 1) Utilitarianism -- maximizing the greatest good for the greatest number of people z 2) Ethical formalism -- rule-oriented philosophy that focuses on universal rules without considering alternative results (“the golden rule”) z 3) NO UNIVERSAL AGREEMENT ON THE CORRECT MORAL PHILSOPHY

Organizational Relationships z 1) Significant others -- superiors, peers, subordinates who influence your decision z 2) Corporate culture -- values, beliefs, goals, norms, and rituals that members of an organization share z 3) CEO sets the tone

Opportunity z 1) defined: a favorable set of conditions that limit barriers or provide rewards z 2) if opportunity arises and no punishment, then continued unethical behavior

Hey Dr. Bush! z. Go to ad ethics stuff