Banach Marketing Mix Promotion
The Customer, Communication Channels, Results
The Customer, Communication Channels, Results
Set of flashcards Details
| Flashcards | 11 |
|---|---|
| Language | English |
| Category | Marketing |
| Level | University |
| Created / Updated | 29.03.2014 / 13.03.2015 |
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Promotion
Integrated Marketing Communications (IMC)
3 Elements
- The Customer (Communication Process & AIDA Modell)
- Communication Channels
- Results
The Customer
Communication Process & AIDA Modell
8 Factors
Sender
-The message originates from the sender, who must be clearly identified to the intended audience.
Transmitter
- The sender works with the creative department, whether inhouse or from a marketing agency, to develop marketing communications.
Encoding
- ...means converting the sender’s ideas into a message, which could be verbal, visual, or both.
Communication Channel
-...is the medium that carries the message.
Receiver
-...is the person who reads, hears, or sees and processes the information contained in the message or advertisement. The sender, of course, hopes that the person receiving it will be the one for whom it was originally intended.
Decoding
- process by which the receiver interprets the sender’s message.
Noise
- ...is any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium, and it poses a problem for all communication channels.
Feedback
- ...allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly.
The AIDA Model
Awareness leads to Interests, which lead to Desire, which leads to Action.
At each stage, the consumer makes judgments about whether to take the next step in the process. Customers actually have three types of responses, so the AIDA model is also known as the “think, feel, do” model. In making a purchase decision, consumers go through each of the AIDA steps to some degree, but the steps may not always follow the AIDA order.
Communication Channels
6
The right message to the right audience through the right media.
Direct Marketing
- The sales and promotional techniques that deliver promotional materials individually to potential customers.
Advertising
- A paid form of communikation from an identifiable source, delivered through a communication channel, and designed to persuade the receiver to take some aktion, now and in the future.
Personal selling
- The two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision.
Public Relations
- Building and maintaining a positive image
Electronic Media
- Corporate Blogs (can create positive word of mouth)
- Online Games (way to reach younger consumers )
- Text Messaging (with younger consumers)
Sales promotions
- Special incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of-purchase displays.
PR Toolkit
Cause-Related Marketing businesses and charities form a partnership to market an image, product, or service for their mutual benefit.
Event sponsorship corporations support various activities, usually in the cultural or entertainment sectors.
Results
1. Goals
2. Budget
3. Measuring Results
4. Legal Issues
1. Goals
Short Term: Generating inquiries, increasing awareness etc.
Long Term: Increasing sales, market share, and customer loyalty.
2. Budget
Firms use a variety of methods to plan their marketing communications budgets.
Objective and Task Method
Budget required to undertake specific tasks to accomplish communication objectives.
- Establish a set of communication objectives
- Determine which media best reach the target market
- Determine cost to run the types of communications necessary to achieve the objectives.
Rule-Of-Thumb methods
Use prior sales and communication activities to determine the present communication budget.
- Competitive parity
- Percentage-of-sales
- Affordable budgeting
3. Measuring IMC Success
Metrics
When measuring IMC success, the firm should examine when and how often consumers have been exposed to various marketing communications. They use metrics of:
Frequency
- How often the audience is exposed to a communication within a specified period of time.
Reach
- The percentage of the target population exposed to a specific marketing communication.
Gross Rating Points
- Represents reach multiplied by frequency (GRP = reach × frequency).
Measuring Web Communications
Success
4 Methods
Assessing the effectiveness of Web-based communications in an IMC campaign requires:
Web tracking software (measures time viewers spend on particular Web pages)
Click-Through Tracking (measures, users times click on advertising)
Online Couponing (consumers print a coupon online, redeem the coupon in a store)
Online Referring ( order form and are referred to an offline dealer)
4. Legal Issues in IMC
Speech
Commercial speech
A message with an economic motivation, that is, to promote a product or service, to persuade someone to purchase etc
Noncommercial speech
A message that does not have an economic motivation.
Ethics
Deceptive Advertising a representation, omission (unterlassen), act or practice that is liikely to mislead consumers acting reasonably under the circumstances
Stealth marketing is a strategy used to attract consumers using promotional tactics that deliver a sales message in unconventional ways, often without the target audience knowing that the mes- sage even has a selling intent.
