Definition of Marketing Terms - Assignment Example

Name Tutor Course Date PART A Question 1 A). Advertiser: A person or organization that is involved in announcing a product or service to the public. The main aim of an advertiser is to create awareness about the product or service among the members of the public (Fletcher & Heather, 12). B). Distribution: The spread of media plan among the targeted audience through the use of various means of advertisements. C). Media Schedule: A program or plan that is used for the purposes of identifying the media channel to be used during the advertisement process (Armstrong, et al, 10). D). Merchandizing: An activity that is involved in the promotion of goods and services through presenting certain useful information about the product. It provides the targeted audience with more information about the product or service (Lovelock, Paul & Jochen, 15). E). Modify: Making minor changes to an advertisement so as to improve on its ability to attract the targeted audience. F). Media vehicle: A specific print, electronic or digital media that is employed during an advertising campaign (Jack, 65). G). Media budget: The total amount that is required for the purposes of implementing a media plan. H). Advertising Message: The contents of an advertisement that is used for the purposes of appealing to the customers about a product or service. J). Consumer profile: A method that is used to categorically classify the consumers for the purposes of grouping the consumers during the marketing and advertising process. Question 2 A). Copyright legislation The copyright legislation has significant effects on the media plan. It affects how the contents can be broadcasted without causing any infringement. The copyright laws also affect the media plan with regards to the collection and storage of information. B). Fair Trading laws The fair trading laws affect the media plan in terms of how the business operations will be carried out. The fair trading law influences the activities that the organization has to carry out with regards to the management and operations of the organization. C). Consumer protection laws The consumer protection laws are concerned with the contents that are delivered to the consumers (Fletcher & Heather, 21). This will affect the media plan in terms of the mode that will be used to deliver the contents to the consumers. It will also affect the competitive strategies that will be used by the organization. Question 3 Delivering the appropriate and required contents to the audience is important for the media. It is also important to understand the needs of the audience. Lively audience will be targeted by the media. This will involve members of diverse gender. The contents will also target the audience from different ages as well as social background. Question 4 Newspapers Magazines Television Radio Internet Billboards Social media Short Message Service Product placement advertising Mobile phones Question 5 The alternative media schedule is beneficial in terms of ensuring that the commercial appears in unified campaigns in different media vehicles. Wastage is also reduced during the process and hence promoting efficiency. Alternative media schedule is also beneficial in terms of poisoning as it ensures that the target audience can receive the message. It is also cost effective and it hence its benefits to the advertiser. Question 6 Active Passive Focus group PART B Question 1 Age: The company targets the youthful customers as its advertisement strategies mainly target the youth. Gender: The consumers targeted by the company are male and female who own cars or properties. Income: The consumers that are being targeted are low income earners and the middle as most of the youth fall in this category. Preferred means of communication and engagement: The customers that are being targeted mainly use TVs, radios and the digital media. Question 2 The first advertising message by the company is that its services are of low costs. This has been emphasized through money saving. This advertising message is aimed at ensuring that the youthful customers and middle as well as low income earners afford the insurance services. The advertising message being portrayed by the company is that the insurance service of the company is unique and the company operates differently from the others. The advertisement describes the company as smart and it does things differently. This is aimed at targeting the customers who have had a poor experience with the other insurance companies. The advertisement message also indicates that the company is caring and sensitive with regards to the needs of the customers. This has been emphasized in the message by indicating that the company does not make any assumptions when dealing with the customers. Question 3 The television is one of the media vehicles that have been used by the company for the purposes of conveying its message. The television enjoys a wide coverage and hence its advantage in attracting a large number of audience (Fletcher & Heather, 23). The television is however expensive and this may be costly for the organization. The billboards are also an important media vehicle that has been used by the company for the advertisements. The Billboards have been place close to the targeted customers at the universities. This form of advertisement is beneficial in terms of ensuring that the targeted customers can view the message. However, the billboards are also expensive and can only be used in a specific place which limits the number of people who can receive the message. Question 4 The distribution of the advertisement message over the required duration of time is important in ensuring that the targeted audience gets the message. The message can be distributed over a specified time among the audience. This is mainly in terms of using the billboards which has to be located in a certain location for a specified period of time. The television advertisement should also run for a specific number of days at specific time including between the programs that most of the targeted audience watch (Management Association, 10). Question 5 The post testing strategy can be used by the organization for the purposes of determining the efficiency of the advertisement. This method involves tracking the changes over time with regards to the consumption patterns of the customers. The company can determine the efficiency of the billboards by determining the increase in the number of customers around the regions where the billboards have been placed. The efficiency of the television can be determined by the overall increase in the number of customers as the television is viewed in a wide geographical area. Question 6 The company chose the media vehicles due to the nature of the targeted audience. The targeted audience who are the youth can easily get the message through the use of the media vehicles. It is important for the media vehicle to meet the needs of the targeted audience in order for the company to benefit from the process (Jack, 69). The company may have also considered the ability of the media vehicle to reach a high number of targeted audiences. PART C Question 1 Background: The legal services are quite high in the country when it comes to some of the issues. Everyone may require services in case they break the law. In most cases, the people contact the lawyers when they have legal problems and end up paying huge amount for the services. However the company is introducing a new service that will enable the people to pay the firm a fixed amount of money every month and they can be provided with the best legal services in case of any legal problems with no further charges regardless of the nature of the legal problem. This is important in terms of enabling the middle class and the low class people to obtain the best legal services at a low cost. The monthly charges are however non-refundable if a client decides to end a contract with the company. The concept is almost similar to that of insurance. The monthly charges will be affordable to customers so as to attract a high numbers of customers. The trouble of looking for a lawyer when in need will be avoided by the customers as they will only need to contact the company and a lawyer will be provided to them at no further cost immediately. Question 2 Television: This media vehicle will be used due to its ability to reach a high number of targeted customers all over the country. Internet: The internet is currently common among most of the people. This media vehicle has the ability of reaching a high number of targeted customers within a short time at a low cost. Newspapers: This media vehicle is usually circulated throughout the country and most of the targeted audience read the newspapers on a daily basis and hence its ability to meet the demands of the organization. Question 3 Media vehicle Reach Frequency Requirements Television 90% of targeted audience. 20 Opportunities To See (OTS) per week Financial resources Internet 85% of the targeted audience 30 OTS per week Financial resources. Human resources. Technological resources. Newspapers 70% of the targeted audience 7 OTS per week Financial resources. Question 4 The merchandizing requirements will play an essential role in ensuring that the advertisements are effective (Management Association, 8). The merchandising requirement that will involve the pricing. The cost for the services of the company will be clearly highlighted. All the other aspects that involves the price will also be highlighted so as to aid the decision making process of the customers. Question 5 The effectiveness of the media plan will be measured in terms of the number of targeted audience who subscribe to the service after the advertisement. The use of the numbers will be useful in terms of determining the reach and distribution. References Fletcher, Richard, and Heather Crawford. International marketing: an Asia-Pacific perspective. Pearson Higher Education AU, 2013. Jack, Herbert, et al. Australian Media Vehicles’ Standards for Acceptable Advertising. Journal of Advertising Vol. 33, No.4 (2014), 65-73. Retrieved on 24 June 2014 from, . Armstrong, Gary, et al. Principles of marketing. Pearson Australia, 2014. Lovelock, Christopher, Paul G. Patterson, and Jochen Wirtz. Services Marketing. Pearson Australia, 2014. Management Association, ed. E-Marketing: Concepts, Methodologies, Tools, and Applications: Concepts, Methodologies, Tools, and Applications. IGI Global, 2012. Read More