When crafting an advertising campaign it is important to determine specifically the businesses or people whom you intend to market to. This is called your Target Market.
- Asymmetric Information: When somebody knows more than somebody else.
- Brands: A brand provides a guarantee of reliability and quality. Consumer trust is the basis of all brand values. Brands have value when customers have choice.
- License: The ability to use some protected product.
- Market Segmentation: Strategy that involves dividing a broad target market into subsets of consumers who have common needs and priorities, and then designing and implementing strategies to target them.
- "Sex" refers to the biological and physiological characteristics that define men and women. World Health Organization
- "Gender" refers to the socially constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women. World Health Organization
- To explain it another way: "Male" and "female" are sex categories, while "masculine" and "feminine" are gender categories.
- Socially Constructed: Social construction is something you might not be aware of. Race, class and gender don’t really mean anything. They only have a meaning because society gives them a meaning. Social construction is how society groups people and how it privileges certain groups over others.
How Disney Turned "Frozen into a Cash Cow"
Write responses to the following questions
- How is Frozen a commercial success for Disney? What products has it allowed Disney to sell?
- Describe an example of why Disney products are impervious (unaffected by) to declines in quality.
- How does it fit into the model Disney has used before?
Watch The LEGO Boys Club (below) and write responses to the following questions:
- How has Lego segmented their market?
- What strategies & techniques do they use to market their products?
- Are there missed opportunities for sales because of the current marketing plan?
- How might Lego adopt their marketing plan to take advantage of new opportunities?