Streamline Your Sale Invoices for Public Relations

Sale invoices for Public Relations

hi and welcome to this discussion on managing mass communications in this lecture we'll review advertising sales promotions events and experiences and public relations let's get started first let's talk about advertising before we get into the nitty-gritty of advertising here are a few interesting insights from a 2015 report produced by Advertising Age on the left you've got the top 10 most advertised brands and on the right are some fun facts about advertising it should come as no surprise that viewers are spending more time on digital media than watching TV and this has resulted in the internet becoming the largest advertising medium after all advertisers follow eyeballs pause here for a minute and take a closer look can you guess which brand is number one on the left hand side did you guess AT&T not very many students do okay so now let's get into the nuts and bolts of advertising advertising is one way paid for mass communication in which marketers communicate through audiences the media planner must know the capacity of the major advertising media types to deliver reach frequency and impact media planners make their choices by considering factors such as target audience media habits plotter characteristics method requirements and cost ads can be placed in newspapers on TV through direct mail on the radio in magazines and outdoors through billboards each of advantages and disadvantages for example choosing between print media marketers may choose newspaper advertising when the message needs to be communicated immediately that's because marketers can place ads and newspapers within about a day on the other hand magazines require a more lead time to print ads but on the upside marketers can target audiences much more specifically compared to newspapers pause here and take a closer look at the advantages and limitations of each media type before moving on and here are more fun facts if you're a revenge fan like me you'll find it interesting that one spot costs 114 thousand dollars and take a look at Sunday Night Football Wow a whopping almost six hundred thousand dollars for one spot pause here and take a closer look advertising can be a cost-effective way to disseminate messages whether to build a brand preference or to educate people even in today's challenging media environment good ads can pay off in developing an advertising program marketing managers start by identifying the target market and buyer motives then they can make the 5 major decisions known as the 5ms mission what are our advertising objectives money how much can we spend and how do we allocate our spending across media types message what should the ad campaign say media what media should we use and measurement how should we evaluate the results the first M is mission this refers to understanding our sales goals for the ad and our specific advertising objective an advertising objective is a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time advertising objectives include whether the ad is aimed to inform persuade remind or reinforce informative advertising aims to create brand awareness and knowledge of new products or new features of existing products persuasive advertising aims to create liking preference conviction and purchase of a product or service some persuasive advertising is comparative advertising which explicitly compares the attributes of two or more brands this works best when consumers are processing advertising in a detailed analytical mode and reminder advertising aims to stimulate repeat purchase of products and services reinforcement advertising aims to convince current purchasers they made the right choice take a look at this ad here for Verizon Wireless and AT&T networks which type of ad is this hopefully you said persuasive and in ocular comparative ii M is money in other words how much do we want to spend here are five specific factors to consider when setting the advertising budget stage in the product lifecycle new products typically merit large advertising budgets to build awareness and gain consumer trial established brands usually are supported by lower advertising budgets market share and consumer base high market share brands usually require less advertising expenditure as a percentage of sales to maintain share on the other hand if the goal is to build market share by gaining new customers then a larger budget will be required competition and clutter in a market with a large number of competitors and high advertising spending a brand must advertise more heavily to be heard even advertisements not directly competitive to the brand create clutter and a need for heavier advertising advertising frequency this is the number of repetitions needed to put the brand's message across to consumers an advertising space with high clutter and noise will require more repetition to be heard and products substitutability products that are perceived by consumers as commodities with many substitutes will require heavy advertising to establish a unique image such products may include beer soft drinks snacks banks and potentially airlines the third M is message a good ad normally focuses on one or two core selling propositions as part of refining the brand positioning the advertiser should conduct market research to determine which appeal works best with its target audience and then prepare a creative brief a creative brief is an elaboration of the positioning strategy and includes considerations such as key message target audience communications objectives key brand benefits and media to be used marketers can also cut the cost of creative dramatically by using consumers as a creative team this is a strategy sometimes called open sourcing or crowdsourcing Doritos does this quite well with its crush the Superbowl contest the as impact depends not only in what is said but often more importantly on how it is said this slide details common appeals used in advertising an advertising appeal identifies a reason for a person to buy a product advertising appeals usually play off consumers emotions or address some need or want consumers have pause here and take a closer look this slide details common execution styles the execution styles how the appeal will be delivered the style in which a message is executed is often one of the most creative elements of an ad the execution style often dictates what type of media is to be employed to convey the message for example scientific execution styles lend themselves well to print ads where more detailed information can be portrayed and humor is well executed through radio and television more so than in print pause here and take a closer look at the various execution styles for advertising to break through clutter some advertisers believe they have to push the boundaries of advertising they must be sure however not to overstep social and legal norms or offend consumers the Federal Trade Commission or FTC acts on behalf of consumers to ensure advertising is not misleading or harming consumers through advertising the fourth M is media the steps here are deciding on desired reach frequency and impact choosing among major media types selecting specific media vehicles and setting media timing and geographical allocation then the marketer evaluates the results of these decisions media selection is finding the most cost effective media to deliver the desired number and type of exposures to the target audience the impact of exposure of an ad on audience awareness depends on reach frequency and impact reach reaches the number of different persons or households exposed to a particular media schedule at least once during a specified time period frequency frequencies the number of times within a specified time period that an average person or household is exposed to the message and impact impact is the qualitative value of an exposure through a given median thus a food ad will have a higher impact in Bon Appetit than in Fortune magazine in launching a new product the advertiser must choose the scheduling for advertising a continuous media schedule means exposures appear evenly throughout a given period generally advertisers use continuous advertising in expanding markets with frequently purchased items and in tightly defined buyer categories sliding calls for advertising during a period followed by a period with no advertising followed by a second period of advertising activity it is useful when funding is limited the purchase cycle is relatively infrequent or items are seasonal pulsing is continuous advertising at low levels reinforced periodically by waves of heavier activity this helps the audience learn the message more thoroughly at a lower cost to the firm and finally seasonal also called concentration calls for spending all the advertising dollars in a single period which makes sense for products with one selling season or related holiday the final M is measurement communication effective research called copy testing seeks to determine whether an ad is communicating effectively copy testing can be performed in a number of different ways for example focus groups may be used in which a sample of the target market is asked to think out loud and comment on the ad as they are watching it another method is a B testing in which two different ads are created and tested for effectiveness through focus groups or surveys ultimately marketers want to understand if the money they spent was worth it and if it resulted in an increase in share of market a historical approach can also be used to compare sales before and after ads now let's talk about sales promotion whereas advertising offers a reason to buy sales promotion offers an incentive some sales promotion tools our consumer franchise building they impart a selling message along with the deal such as free samples frequency awards coupons with a selling message and premiums related to the product sales promotion tools that are typically not brand building include price off tax consumer premiums not related to a product contests and sweepstakes consumer refund offers and trade allowances there are two types of sales promotion one type is aimed at the marketing channel member such as a wholesaler or retailer the other is aimed at the ultimate consumer the main trade sales promotion tools that manufacturers aim toward channel members are listed on this slide take a look the main consumer promotion tools are summarized here stop and take a look before moving on earlier I mentioned that the purpose of sales promotion is to incent sales marketers should consider the target market in deciding which type of sales promotions to use for example loyalty marketing and bonus packs work especially well for loyal customers what do you think works best when the goal is get consumers to switch from the competition's product to yours sampling tends to work especially well and if you're targeting consumers who switch brands often or who by simply based on the criteria of low price then price reduction strategies such as coupons are best for each promotion marketers need to consider a couple of things first is the size of the incentive an incentive to small will be counterproductive but an incentive to large may have detrimental consequences to gross profit as well as perceptions of quality second is timing this includes duration of the promotion as well as lead time necessary to prepare for the launch third is budget costs include printing mailing and promoting the deal as well as incentive costs such as cost of the Premium and then there's measurement manufacturers can evaluate the sales promotion program with scanner data consumer surveys and experiments now let's switch gears and talk about events and experiences marketers report a number of reasons to sponsor events which are listed on this slide pause here and take a closer look before moving on recently I had the pleasure of hearing from a marketing manager at Legoland she described how they execute events and all the surrounding details for example on-site events for store grand opening consider many factors take for example the grand opening of the New York City Legoland store there are photos here of this grand opening they incorporate on-site activities social media engagement and partnerships with local schools here's what they did they enlisted the help of elementary schools within the vicinity of the New York City store to help little Statue of Liberty made of Legos kids brought certified Lego bricks to the event that would help construct the Statue of Liberty they also received a certificate for participation Lego flowers were also handcrafted and placed in the grassy areas around the store and that provided eye catching photo opportunities in shareable moments on social media giveaways were also executed to drive people to the store and to drive sales finally one of the marketing managers aren't her way to the grand opening event hand-carried a small-scale human figure made of Legos through the airport she even booked the figure his own seat on the airplane she posted pics of the figure traveling to the grand opening event on social media sites which as you might imagine garnered a lot of attention not only that many Airport patrons also saw the figure and took their own pictures all of this together received a tremendous amount of earned media for example bloggers talked about everything that was going on including the free stuff available during this event making sponsorship successful requires choosing the appropriate events designing the optimal sponsorship program and measuring the effects of sponsorship the event must meet the brand's marketing objectives and communication strategy match the target market have sufficient awareness and favourable attributions possess the desired image and be able to create desired effects and many marketers believe the marketing program accompanying an event sponsorship ultimately determines its success it's not just the event itself but the complete integrated marketing campaign surrounding it think back to the lego example and everything that was done to create an integrated marketing program around the grand opening of the NYC store and finally there's measuring sponsorship activities measuring earn media is a common way to measure success for example marketing managers assess the media coverage for example the number of seconds the brand is clearly visible on a TV screen or the column inches of press clippings that mention it marketers may also measure the sponsorships effect on consumers brand knowledge through surveys now we'll look at our final mass communication method public relations public relations includes a variety of programs to promote or protect a company's image for individual products marketing managers plan public relations campaigns that fit into the overall marketing plans and focus on targeted audiences there are several types of public relations there is financial PR that focuses on shareholders is the primary target audience there's community PR - focuses on local community organizations and individuals as the primary audience and then there's marketing PR that focuses on buyers of the company's products and services as the primary audience this slide shows the major marketing public relations or NPR functions along with examples please pause here and take a closer look before moving on the main tools of mpr are described here pause and take a closer look you'll notice that events are also listed here generally marketing and public relations departments work together to develop an integrated approach to executing events this concludes our discussion of mass communications thanks for listening