Advertising Marketing Process
Advertising and the Marketing Process
Chapter Objectives
When you have completed this chapter, you should be able to 1. Discuss and define marketing and how advertising relates to marketing strategy 2. Explain the marketing concept 3. Outline the four tools of marketing and explain advertising’s relationship to them 4. Describe the role of the advertising agency. Its organization and compensation methods.
What is Marketing? * The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchange that satisfy the perceived needs, wants, and objectives of the customer and the organization. Effective marketing is the process of finding, satisfying, and retaining customers while the business meets its goal. * An exchange is the act of trading a desired product or service for something of value in return. How do marketers prompt the exchange process? They must market effectively from start to finish.
The Marketing Plan
First, marketers develop a marketing plan- a blueprint of planned marketing activity-that strives to create a competitive advantage for an individual product, a product line, or an idea. Consumers (that is, potential purchasers of the product) believe a product has a competitive advantage when they judge that the product meets their needs better than a competitor’s product does. A marketing plan typically involves five different stages: 1. A research stage, during which the planner analyzes the marketing environment, including the consumer. 2. A strategic stage, during which the planner develops objectives, along with the enduring strategy for achieving them. 3. A tactical stage, during which specific tools are selected. 4. An implementation stage, which involves the coordination of the marketing strategy with actual marketing activities 5. The evaluation stage, when the marketer assesses how
Chapter Objectives
When you have completed this chapter, you should be able to 1. Discuss and define marketing and how advertising relates to marketing strategy 2. Explain the marketing concept 3. Outline the four tools of marketing and explain advertising’s relationship to them 4. Describe the role of the advertising agency. Its organization and compensation methods.
What is Marketing? * The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchange that satisfy the perceived needs, wants, and objectives of the customer and the organization. Effective marketing is the process of finding, satisfying, and retaining customers while the business meets its goal. * An exchange is the act of trading a desired product or service for something of value in return. How do marketers prompt the exchange process? They must market effectively from start to finish.
The Marketing Plan
First, marketers develop a marketing plan- a blueprint of planned marketing activity-that strives to create a competitive advantage for an individual product, a product line, or an idea. Consumers (that is, potential purchasers of the product) believe a product has a competitive advantage when they judge that the product meets their needs better than a competitor’s product does. A marketing plan typically involves five different stages: 1. A research stage, during which the planner analyzes the marketing environment, including the consumer. 2. A strategic stage, during which the planner develops objectives, along with the enduring strategy for achieving them. 3. A tactical stage, during which specific tools are selected. 4. An implementation stage, which involves the coordination of the marketing strategy with actual marketing activities 5. The evaluation stage, when the marketer assesses how