Lecture Notes for MKTG 3504 - Advertising with Krishen at Virginia Tech (VT)

Notes Information

Material Type:Note 2
Class:MKTG 3504 - Advertising
University:Virginia Polytechnic Institute And State University
Term:Spring 2006
  • Volney B. Palmer
  • Convenience Goods
  • George Eastman
  • Production Orientation
  • Unique Selling Proposition
  • Sales Orientation
  • Brand Advertising
  • Effective Way
  • Brand Preference
  • Inexpensive
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Chapter 2 - The Evolution of Advertising George Eastman & Kodak . Kodak Company founded 1888 . Ran advertisements creating hype . "you press the button we do the rest" . Goal- make people aware of a camera as convenient as a pencil . 1980's Kodak losing 3-4% market share because ofFugi Film . True Colors campaign = start of new aggressive advertising . Kodak lately has fallen in the ranks of contenders "Advertising is the qfficial art qf capitalist society" - Raymond Williams Principles of Free-Market Economics Our economy is based on the notion of competition - 4 assumptions 1. Self-interest - people and organizations tend to act in their own interest 2. Complete Information - access by buyers and sellers to all info at all times 3. Many buyers and sellers - having a wide range of sellers ensures that if one company does not meet customer needs another will 4. Absence of externalities (social costs) - Sometimes the sale or consumption of products may benefit of harm other pe...

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