In addition to all of these benefits, analytics will make it possible for marketers to fine-tune each element, offer and even digital channel used in the presentation of a promotional offer to a specific audience. By combining all available sources of analytics, marketers will be able to have a 360-degree view of customers while also aligning their promotional strategies to each phase of the buying process with much greater precision than has ever been possible before (Acker, Grone, Blockus, Bange, 2011).
Impact of the Internet on Advertising
In strategic terms the Internet has made digital marketing, promotion and advertising strategies more precise and measurable. The proliferation of analytics applications, many of them Cloud-based, are revolutionizing how marketers plan and execute their promotional, advertising, and services strategies. The Internet has also completely re-ordered the economics of advertising, reducing the costs of tactical and strategic campaigns (Bernoff, Li, 2008). This is evident in how the Internet in general and company websites specifically are being used as the landing pages or destination point for offline and traditional marketing strategies and platforms. A major part of the economic re-ordering of advertising and IMC strategies is the heavy emphasis marketers put on Search Engine Optimization (SEO). This is a technique to boost relative levels products and services appear in Google, when searches are initiated by prospective customers looking for a given product. Google's algorithms for ranking content rely on specific approaches to organizing keywords within websites, and this area of marketing, called SEO, is gaining in importance and spending over time (Bernoff, Li, 2008). Organic search results are consistently more trusted and acted on compared to paid search. Google has created their AdWords program specifically for enabling the paid search areas of their search engine. AdWords generates on average $300M in any given quarter for Google and is one of their most profitable businesses as marketers are willing to pay for a premium location on the popular search engines' site (Selcuk, Ozluk, 2013).
The role of traditional marketing techniques and methods including brochures, flyers, direct mail, advertising in newspapers and magazines, television and radio are increasingly being orchestrated in IMC strategies that drive prospective customers to the company's website. These traditional forms of marketing have long proven effective in moving prospective customers through the buying process and toward trying a given product or service. The Internet is acting as a consolidator of these traditional marketing methodologies, driving the prospective customer to personalized landing pages and specific offers they show a high probability of accepting and taking action on. The many examples of how analytics is being successfully used for marketing mentioned earlier in this analysis are also used in many companies for measuring the relative contributions of each specific offline, traditional marketing method or strategy (Hair, 2007). Marketers are able to track the relative effectiveness of a given flyer or brochure and its contribution to the buying process. In addition, advanced marketing automation applications including Eloqua and Marketo are being used to track and predict the combinatorial effects of flyers, brochures, direct mail, advertisements on television and radio, and the many forms of external advertising as well. In conclusion, the Internet has made it possible for marketers to precisely understand the contributions of every aspect of their advertising, promotion and public relations strategy to the buying process. And has been shown in the audience and segmentation analysis of Walmart's Price Value Shopper, very precise customer segmentation can also be achieved and measured with analytics that provide insights into psychographics of the audience segment (WalMart Investor Relations, 2012).
The relationship between market share and promotion has also been more clearly defined through the analytics and platforms available online as well. The Internet has made the correlation of promotional spending and market share more predictable for commodity-like products by measuring the impact of price and availability on demand. This has significantly reduce the uncertainly regarding just which promotional strategies to use, when, and what amount of marketing funds needs to be invested in them. The more complex and multifaceted a given product becomes however the greater the corresponding complexity of measuring the effects of promotion on market share. Often with highly complex products that must be tailored for a given customers needs, for example an air conditioning system for a home or the addition of a new room or section of a house. Promotional strategies played a critical role for the air conditioning company in getting the customer, and given the highly tailored nature of their needs, helped to create trust. The same holds true for the contractor given the job...
(Snyder & DeBono quoted in Kjeldal 2003, Introduction section, ¶ 6). The results from the study Kjeldal (2003) conducted with 70 participants in two stages suggest that the word association responses high self-monitors (HSMs) produce reflect selective activation of a personally meaningful, experiential, system. The responses low self-monitors (LSMs) produce, on the other hand, indicate an intellective factual system. 2. Decision Making Process Theories Dr. Bonnie Halpern-Felsher (2009), an Associate Professor at
Advertising Children ADVERTISING TO CHILDREN A Brief Review of the Influences that Advertising can have with Children Advertising plays a substantial role in modern society. Marketing messages have become ubiquitous and can be found in new places all the time. Some of the common sources are TV, radio, billboards, and online ads; however marketing professionals are constantly reinventing the media in can display their messages. For example, new technics such as product placement
The development of customer insights and a focus on what the customer wants and needs is very important to create a good IMC, but even once customer needs are completely understood an ad agency will still be charged with the duty of coming up with the right ways to reach out to those customers (Eskilson, 2007). It is only then that a company can begin to grow and expand
Not only are the campaigns coherent, but they also support each other and the essential key concepts, represented by the characteristics of the brand: social awareness and implication, innovation, the ability to do anything, the belief in people and their potential to achieve their dreams. The main weakness that the approach to PR and advertising is the repeated focus on the concepts of innovation and social responsibility without insisting
Advertising & Consumer Behavior What are some of the principles of television advertising? Some principles include knowing and studying audiences & demographics. Another principle is to build a brand and a lifestyle. Another is to create desire in the consumer. What makes it unique from other mediums and its ability to influence customers' decisions? It is a relatively old form of medium with respect to American culture. Meaning, people are used to commercials --
" (Snyder, 2008, p.8/9) in other words, Snyder is appealing for better ethical standards not only because this would be the right thing to do but also because it makes good economic and marketing sense. The following advertising example is a case in point. In another article Snyder refers to an advertisement which goes beyond good taste and decency. This refers to a multimedia campaign for Belvedere Vodka which is in
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