Marketing Communication
Marketing Communication
Marketing Communication
Set of flashcards Details
| Flashcards | 91 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | Primary School |
| Created / Updated | 06.12.2012 / 17.03.2015 |
| Weblink |
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The Role of IMC in Branding
IMC plays a major role in developing and sustaining brand identity and brand equity
Brand identity is a combination of
Name
Logo
Symbols
Design
Packaging
Performance
Image or associations
Customer touch points
The Promotional Mix
Advertising
Direct Marketing
Sales Promotion
Publicity & Public Relations
Personal Selling
Interactive Marketing & Social Media
Advetising
Paid non-personal communication about an organization, product,
service, activity, or idea by an identified sponsor.
No feedback from audience
Inflexible
Important for mass consumer markets
(e.g., packaged consumer goods)
Most cost effective to reach a large audience
Pull communication strategy
Valuable for establishing brand identity and brand equity
The most common forms of advertising
Consumers
National Advertising, Retail/Local Advertising/ Primary vs. Selective Demand Advertising
Organizatioins
Business-to-Business Advertising, Professional Advertising, Trade Advertising
Direct Marketing
see slide 82 in review
Sales Promotion
Marketing activities that provide extra value or incentives to
the sales force, distributors, or the ultimate consumer.
Generate immediate sales
Push communication strategy
Rising share of promotional budgets now go to sales promotion
Declining brand loyalty
Increased consumer sensitivity to “deals”
Larger and more powerful retailers are demanding
more trade promotion support
Sales Promotion
Consumer-oriented (for end-users)
Coupons
Samples
Contest/Sweepstake
Refunds/Rebates
Bonus Packs
Loyalty Programs
Events
Trade-oriented (for resellers)
Trade Allowances
POP Displays
Trainings Programs
Trade Shows
Coop Advertising
Publicity
see slide 86 in review
Advertising Versus Publicity
see slide 87 in review
Public Relations
The management function which evaluates public attitudes, identifies firms’
policies and procedures with a public interest, and executes programs of action to earn public understanding and acceptance.
An organizational function
Disseminates favorable news about the company
“Damage control” following unfavorable events
Internal customer and public advocate as an impulse for company policies and practices.
Personal Selling
Person-to-person communication in which a seller attempts to assist and/or persuade prospective buyers to purchase a company’s product and/or services.
Personal experience
Flexible
Immediate feedback
Relationship building
Interactive Marketing
Technology-based activities and programs designed to engage customers or
prospects and directly or indirectly raise awareness, improve image, or
elicit sales of products and services.
Multiple-way communication
Users participate in and modify the form and content of information
Happens in real time
Interactive media
Internet
CD-ROMs
Kiosks
Interactive television
Cell phones apps
The Traditional Advertising Paradigm
see slide 91 in review
The Social Media Marketing Paradigm
see slide 92 in review
Social Media Quality Content Criteria (Nike)
Relevant
Community is centered around consumer's passion for running
Interactive
Challenges, forums and Facebook feeds allow consumers to connect with each other
Authentic
Community is consistent with Nike's overall brand positioning
Personalized
Customized home page tracks a runner's individual progress and statistics
Integrated
Nike employees are active participants in the community through blogs and forums
Social Media FUnctionality
see slide 94 in review
IMC Audience Contact Tools
see slide 96 in review
IMC Brand Touch Points
Company Created
Unexpected
Customer initiated
Intrinisc
IMC Contact Points: Control vs. Impact
see sldie 98 in review
The Target Marketing Process
Identify markets with unfulfilled needs -> Determine market segmentation -> Select market to target -> Position through marketing strategies
Consumer Segment Characteristics
see slide 102 in review
Evaluation of Segmentation Criteria
see slide 103 in review
What Constitutes a Viable Target Segment
1) Is the segment identifiable and measurable
2) Is the segment accessible
3) Is the segment economically viable
4) Is the segment actionable
5) Is the segment defendable
Market Positioning
Fitting a product or service to one or more segments of a broad market
in such a way as to set it meaningfully apart from competition.
Positioning Dimensions
Quality vs. Price
Evaluative Criteria ?
Consumption Situation ?
Product Class ?
Consumer Segment ?
Competitor ?
Cultural Symbols ?
Consumers' Evaluative Criteria
Values, Psychosocial Consequences, Functional Consequences, Attributes
Attributes
Features/characteristics of products and services, e.g.,
Technical specifications (such as the horse power of a car)
Price
Brand/make
Design variables (such as color)
Store hours
Service/sales personnel appearance and behavior
Product parts or ingredients (e.g., alcohol/sugar free beverage)
Functional Consequences
Anticipated direct and objective personal consumption outcomes, e.g.:
Drive fast
Clean laundry
Save money
Save time
Loose weight
Psychosocial Consequences
Anticipated indirect and subjective personal consumption outcomes, e.g.:
Experience excitement
Relax
Achieve
Learn
Bond (e.g. with friends or family)
Values
Enduring, centrally-held key beliefs that trigger motivation for behavior, e.g.:
Adventure
Love
Happiness
Freedom
Growth
Variety
Positioning by Consumer Segment
Lifestyle
Ethnic Background
Gender
Positioning by Cultural Symbol
Introduce Own Symbol
Utilize Existing Symbol
Marketing vs. Communications Obbjectives
Marketing Objectives
Generally stated in the firm’s
marketing plan
Achieved through the overall
marketing plan
Quantifiable, such as sales, market
share, ROI
To be accomplished in a given
period of time
Must be realistic and attainable to
be effective
vs.
Communication Objectives
Derived from the overall
marketing plan
More narrow than marketing
objectives
Based on particular
communications tasks
Designed to deliver appropriate
messages
Focused on a specific target
audience
Sales Objectives
Increased Sales
Brand Extensions
Increased Market Share
Factors Influencing Sales
Competition
Techonology
Market Communications
Price
The Economy
Distribution
Product Quality
From Awareness to Action
see slide 139 in review
Communications Effects Pyramid
see slide 140 in review
The GfK Purchase Funnel
Awareness -> Familarity -> Opinion/ Imagery -> Consideration -> One Make/ Model Intention -> Shopping -> Purchase
Source Attributes - Receiver Processing Modes
see slide 146 in review
Source Credibility
Ethical
Trustworthy
Experienced
Unbiased
Honest
Believable
Skillful
Knowledgeable
