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Advertising by Mind Map: Advertising

1. Week 5

1.1. What/how to advertise: Advertising design and content

1.1.1. How a media agency works

1.1.2. Advertising strategy and objective

1.1.3. Message strategies Cognitive Focus on rational arguments, product benefits; give examples Affective Focus on feelings / emotions; give examples Conative Focus on inducing certain actions from consumers; give examples

1.1.4. Advertising appeals Rational Emotional Humor Eisend (2009) Can have separate effects on attitude and responses towards the ad itself and towards the brand Impacts how we process information in the ad, which in turn impacts attitudes Directly impacts attitudes via affect transfer, cognitive mechanisms are weaker Humor effectiveness varies by product type, study context, format of the ad Fear Sex Music Scarcity Different appeals are valued differently around the world

1.1.5. Spokesperson / Endorser in the ad Celebrities Influencers in specific product categories

1.1.6. Executional frameworks for constructing the actual ad Story telling in advertising

1.1.7. Application of the FCB grid for message strategy and advertising appeals

1.1.8. Ad content Guitart and Stremersch (2020) Informational vs. emotional Influences the effectiveness of the advertising on sales (i.e., advertising elasticity) The effect of ad content on advertising elasticity further depends on the product positioning (price and quality)

1.1.9. Creativity Multidimensional construct: originality and appropriateness (relevance) Several mechanisms working together Affect transfer Information processing Signaling Rosengren et al. (2020)

2. Week 4

2.1. Master case

2.1.1. Advertising effectiveness: Integrated communications for new product launches

2.2. Advertising for new products

2.2.1. Connection to PLC

2.2.2. Pre-launch advertising strategy Objectives Impacts many stakeholders: consumers, shareholders, competitors

2.2.3. Pre-launch buzz Consumer communications, search, and participation Consumer interest pre-launch Kim and Hanssens (2017)

2.2.4. Effectiveness Sales, pre-orders Mindset metrics Pre-launch buzz

2.2.5. Pre-launch vs. Post-launch (implications for advertising effectiveness) Uncertainty about the product Information availability Content and focus of firm and consumer communications

3. Week 3

3.1. How well does advertising work

3.1.1. Empirical generalizations; Meta-analysis: Sethumaran et al. (2011) Concept of meta-analysis Changes over time in advertising effectiveness Product type and PLC

3.2. Where to advertise?

3.2.1. Integrated marketing communications Managing multiple channels of communication Consistency Complementarity Cross effects The power of WOM Firm-created WOM vs. Organic WOM Offline vs. Online Interaction with advertising efforts

3.2.2. Media planning Advantages and disadvantages of various channels based on communication objectives and other factors Frequency and Reach

3.2.3. Online and offline worlds T&T and Du et al. papers Second-screening behavior Offline advertising effects can be reflected in online consumer behavior Online WOM Online search Omnichannel strategy

4. Week 2

4.1. How advertising works

4.1.1. Insights from V&A

4.1.2. Hierarchy of effects models Think (Cognition) - Feel (Affect) - Do (Experience): Is there such a hierarchy? Persuasive hierarchy model, Low-involvement hierarchy model, Integrative model The most common sequence in the integrated model tested by Valenti et al. (2022) on FMCG brands is ACE FCB grid Reflected in consumer mindset metrics

4.1.3. Information processing approach to attitude formation Elaboration likelihood model Central vs. peripheral route Peripheral cues in ads

4.2. How to study advertising effectiveness

4.2.1. Objectives and KPIs

4.2.2. Experiments Lab experiment Field experiments eBay example

4.2.3. Market-response models Secondary data Sales Word-of-mouth Consumer interest based on online searches Other? Usually aggregated advertising spending Advertising effects and relationship with sales Non-linear Dynamics

4.2.4. Consumer mindset metrics - intermediate effects Survey data Measured repeatedly over time (brand tracking): Srinivasan et al. (2010), Valenti et al. (2022) Integrated in market-response models Srinivasan et al. (2010), Valenti et al. (2022) For a specific ad campaign at a point in time: Fischer (2019)

4.2.5. Combination of methods

5. Week 1

5.1. Introduction to the landscape of advertising

5.1.1. Need for marketing strategy and not just tactical elements Objectives: sales, brand awareness, brand likeability? etc. Segmentation Example: media / purchase channel preferences, shopping habits Targeting Positioning

5.1.2. Customer journey Stages Pre-purchase, purchase, post-purchase Touchpoints Different classifications Vary in effectiveness across customer journey stages Attribution of purchases to specific touchpoints Last touch attribution Multi-touch attribution

5.1.3. Multi- media/channels advertising Many channels, both online and offline Synergy/Cannibalization Advertising elasticity Calculation, interpretation ROI Calculation, interpretation Budget allocation Calculation based on elasticities

5.1.4. Omnichannel shopping Online and offline advertising and sales Own-channel effect: online advertising effect on online sales; offline advertising effect on offline sales Cross-channel effect: online advertising effect on offline sales, and viceversa Webrooming and showrooming Difficulty of measuring effects of online advertising on offline sales and viceversa Competitor advertising Advertising interference vs. positive spillovers? Cross-brand effect: effect of own-brand advertising on sales of a different brand

5.1.5. Difficulty of measuring effects of advertising Online ads Sources of waste (Pritchard, 2021) Offline ads Tracking consumer behavior in response to offline ads Endogeneity Management decisions to change advertising spending Seasonality Targeting

5.2. Introduction case

5.2.1. Using clickstream data to understand search patterns and channel usage in the online customer journey

6. General

6.1. Exam date:

6.1.1. 31 March 2023

6.2. Type of exam:

6.2.1. Open-ended questions

6.2.2. Formulas will be available

6.2.3. Time limit 2 hours 15 min

6.3. Type of questions:

6.3.1. Essay questions Long essay Short essay, more specific Paper-based essay (academic article)

6.3.2. Practical applications Interpretation of figures/tables Calculation exercises: ROI, elasticities, budget allocation etc.

6.4. Grading & emphasis:

6.4.1. Exam weight 70% of final grade

6.4.2. Introduction case 10% of final grade

6.4.3. Master case 20% of final grade