HR Management.pptx
- 1. HINA TARIQ
- 2. 4th week Chapter 2: Advertisings role in marketing
- 3. 4 Key concepts in marketing Marketing concept Exchange Branding Added value Marketing should focus first on identifying the needs and wants of the customer To compete effectively, marketers must focus on the customers problems and try to develop products to solve them.
- 4. The act of trading a desired product or service to receive something of value in return Money is exchanged for goods or services Exchange
- 5. How Exchanges Work Marketing theorists consider exchange to be the central concept without which there would be no such thing as marketing. For an exchange to happen, both parties have to have something of value for each other. For instance, a man visiting a coffee shop might have enough money to buy a cup of coffee while the cafe has the coffee. Both parties must be able to communicate with each other, and both must want to exchange something and be able to do so. If the customer in the coffee shop can't make himself understood, or if he decides he doesn't want a cup of coffee, or if he turns out not to have quite enough money, then there will be no exchange. If all of the needed conditions are met, there will be an exchange of money for coffee.
- 6. The process of creating a distinctive and special meaning for a product Brand equity is reputation, meaning, and value that the brand name or symbol has acquired over time Branding
- 7. A marketing or advertising activity makes a product more valuable, useful, or appealing. Added Value
- 10. How Agencies Work? Full-Service Agencies functions Include the major staff functions 1: Account management 2: Creative services 3: Media planning and buying 4: Account planning 5: Also have accounting, traffic, production, and HR departments
- 11. Specialized Agencies Specialize in certain functions, audiences, industries or markets Creative boutique Media-buying services