ADV 215 Exam 1 Questions With 100% Correct

Advertising - Answer-A communication tool using objectives and strategies to impact consumer thoughts, feelings, and actions. 2 requirements: centralized exchange, supply surpasses demand Central exchange and supply surpasses demand - Answer-the 2 requirements for advertising; central exchange is a currency transaction supply surp is just to make sure you have enough to go around and keep consumers satisfied Marketing Communications (Mar Com) - Answer-Tools used to communicate with customers Ex: tv ad, billboard, coupons, VR FTC - Answer-Federal Trade Commission Take care of deceptive and unfair ads that sell things from one state to another. Can issue consent decree: brand agrees to stop objectionable advertising If advertiser refuses to sign consent decree a cease-and-desist order: prohibits further use of an ad Corrective adv: explains and corrects offending ads FDA - Answer-Food and Drug Administration Deals with anything you put in or on your body. Sets and regulates legal definitions for word like fresh, low fat, reduced calorie FCC - Answer-Federal Communications Commission Have jurisdiction over radio, TV, telephone, satellite, cable TV, internet. Restricts products advertised and content of the ads. Unfair vs Deceptive Advertising - Answer-Deceptive adv. is misrepresentation or omission of info that can mislead a significant number of consumers.Unfair adv. is advertising that causes consumers to be unjustifiably injured or violates public policy. Comparative advertising - Answer-when adv. claims superiority to competitors in some aspect Copyright vs. Trademark - Answer-Trademark is a symbol, word, name, etc that is used by merchants/a brand to identify and distinguish their goods from others. Can be sued for selling goods that use another brands trademark. Copyright protects ads that exhibit original intellectual effort in conception, composition, and arrangement. BBB - Answer-The Better Business Bureau: a form of nongovernment regulation, operates at local level when someone is unhappy with a brand (aka Karen) they maintain records of complaints but have no authority to do anything but pass the complaint to the FTC, FDA, etc. Marketing - Answer-How you create a brand; the way a product is tested, designed, produces, branded, packaged, priced, distributed, and promoted. MAIN MONEY MAKER Advertising vs Marketing - Answer-Marketing is the bigger picture, the main money maker. Advertising is just a part of that, it's getting the product or idea out there. 4 P's - Answer-The 4 P's of Marketing Mix Product, price, place/distribution, promotion Tools used to achieve marketing goals Societal Role of Advertising - Answer-Mirrors and monitors trends, shapes consumer ID, facilitates diversity, teachers about new products, helps compare products, informs about innovations and issuesHow does advertising say something about ourselves and our identity? Self Regulation vs Federal Regulation - Answer-Federal regulation include the FTC, FDA, and the FCC. Self Regulation is when an ad agency has and in-house legal counsel to review ads. Preferred by advertisers because sometimes Fed reg can overstep due to capitalism. Primary vs Secondary Demand - Answer-Primary demand is the demand for an entire product category. (Ex: demand for smartphones but iPhones) Secondary Demand is demand for a specific brand (Ex: Apple products) Secondary is more popular, most ads are for specific brands. Ethical Advertising vs Social Responsiblity - Answer-Ethical adv is doing what the advertiser and their peers believe is morally right. Social responsibility is doing what society views as the best for the people and community. Strays from personal beliefs Local v Regional v National Advertising - Answer-Local: dealers, franchisees, stores that sell variety of merchandise, specialty businesses, gov. and non-profit agencies. Think tactically based on needs and wants due to lack of money Ex: Scott Honda of West Chester, H&R Block, McDonalds, D-town market, Giant, attorneys, music stores, banks, United Way of ChesCo, etc Regional: A business/brand that operates in one part of the country, and markets exclusively in that region Ex: Wegmans, Giant Eagles, Ralphs, etc. National: Advertise in several geographic regions or throughout the country Think big picture strategicallyEx: McDonalds, Chicfila, Kroger A brand can adv locally, regionally, and nationally, but not all can Co-op Advertising - Answer-When a national brand provides financial helps to local stores to advertise that they are a part of a franchise. Ex: Columbia; it can be bought anywhere due to co-op advertising. A store like Dicks will take Columbias national ad template and alter it to be local. A win/win partnership. Ad agencies: Full Service Creative Boutique In House - Answer-Ad agencies are independent organizations of people who specialize in developing and preparing marketing and advertising plans. Take in clients to make ads for. Different types: