Weekly Marketing Analysis paper - Advertising and Branding
Introduction and Alignment Print this page
This is the fourth of six Weekly Marketing Analysis Papers you will complete in this course. Promotional activities in marketing encompass public relations, sales promotion, personal selling, and advertising. While most people think of advertising as the most important promotional tool, the other tools definitely make an impact on the purchase of products and services.
How are promotional messages delivered? More recent marketing trends indicate that organizations have either a traditional, tradigital, or digital mind-set. A company with a traditional mind-set essentially uses a conventional webpage as its primary method for electronic communication with its market. An organization with tradigital mind-set uses both a conventional webpage and digital (think Smartphones and tablet computers) to communicate with customer and prospective customers. An organization with a digital mind-set uses only digital technology to promote its products.
Sources for more information:
Adweek (https://Www.adweek.com/news/advertising-branding/talking-tradigital-102943)
Marketing Week (https://www.marketingweek.co.uk/strategies-and-tactics/cmo-strategy/marketing-terms-that-will-reach-the-boardroom-in-2012/4000930.article) Upon completion of this assignment you should be able to:
• Assess an effective advertising method that results in a positive ROI.
• Determine the value and elements of brand equity.
Resources
• Textbook: A Framework for Marketing Management
Background Information
As a result of promotion efforts, customers are informed about new products and reminded about existing products. Promotions can help companies introduce new uses for old products in an effort to gain a new segment of the market. Promotion efforts give companies quantitative and qualitative data they can use to plan future campaigns to target their ideal consumers. From customer opinions left on product review sites to being able to gauge the number of people who click an online advertising effort, effective promotional efforts produce results.
While promotion strategies are important to businesses and can help them introduce their products and services into a market, there are considerations that marketers must factor into their marketing plans. Its essential that businesses use the appropriate media to target their consumers. With the advent of social marketing and other forms of online marketing, promotional options extend beyond print, radio, and television promotions. Businesses must determine where their target market gets the majority of its information.
Instructions
1. Read Chapters 8, 15, 16 and 17 in your textbook.
2. Using the company you selected in Workshop One, select a product or service from the company's product offering and respond to the following in your weekly marketing analysis paper:
a. Does the organization use a traditional, tradigital, or digital platform for its advertising? Compare and contrast each of these approaches for this organization.
b. Assess what advertising type creates the best return on investment (ROI). In other words, which form of media do you feel is the most effective? How do you measure this for the organization?
c. There is always room to improve. What recommendations do you have for changes to the organization's advertising?
3. Paper requirements:
a. Length: five - six pages
b. Research requirements: 10 research sources. Sources must be credible and from the last five years.
c. Your paper should use proper spelling, grammar, and APA formatting.
4. If appropriate. these sources can be used in subsequent Weekly Marketing Analysis Papers. Hint: Look ahead at the topics for this series of papers. When you conduct your research for this paper; you will likely identify possible research sources for future papers.
5. When you have completed your assignment, save a copy for yourself and submit a copy to your instructor using the Dropbox by the end of the workshop.