MARKETING CH 14
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- MARKETING COMMUNICATIONS MIX (PROMOTION MIX)
- THE MIX OF TOOLS A COMPANY USES TO PURSUE ITS ADVERTISING & MARKETING OBJECTIVES
- ADVERTISING
- ANY PAID FORM OF NONPERSONAL PROMOTION BY AN IDENTIFIED SPONSOR.
- PERSONAL SELLING
- PERSONAL PRESENTATION BY THE FIRM'S SALES FORCE
- SALES PROMOTION
- SHORT-TERM INCENTIVES TO ENCOURAGE THE PURCHASE OF A PRODUCT OR SERVICE.
- PUBLIC RELATIONS
- BUILDING GOOD RELATIONS WITH THE COMPANY'S PUBLICS
- DIRECT MARKETING
- DIRECT COMMUNICATIONS WITH CONSUMERS TO OBTAIN AN IMMEDIATE RESPONSE (THE USE OF TELEPHONE, MAIL, E-MAIL)
- 2 MAJOR FACTORS OF THE CHANGING COMMUNICATIONS ENVIRONMENT
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1.MARKETERS ARE SHIFTING AWAY FROM MASS MARKETING
2.IMPROVEMENTS IN INFORMATION TECHNOLOGY ARE SPEEDING THE MOVEMENT TOWARD SEGMENTED MARKETING - INTEGRATED MARKETING COMMUNICATIONS (IMC)
- WHERE A COMPANY INTEGRATES & COORDINATES ITS COMMUNICATIONS CHANNELS TO DELIVER A CLEAR MESSAGE ABOUT THE ORGANIZATION & ITS PRODUCTS.
- MIX OF PROMOTION TOOLS
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1.PERSONAL SELLING
2.PUBLIC RELATIONS
3.DIRECT MARKETING
4.SALES PROMOTION
5.ADVERTISING - MAJOR PARTIES IN A COMMUNICATION
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1.SENDER
2.RECEIVER - 4 MAJOR COMMUNICATION FUNCTIONS
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1.ENCODING
2.DECODING
3.RESPONSE
4.FEEDBACK - SENDER
- PARTY SENDING THE MESSAGE TO ANOTHER PARTY
- ENCODING
- PROCESS OF PUTTING THOUGHT INTO SYMBOLIC FORM
- MESSAGE
- THE SET OF SYMBOLS THAT THE SENDER TRANSMITS
- MEDIA
- THE COMMUNICATION CHANNELS THROUGH WHICH THE MESSAGE MOVES FROM SENDER TO RECEIVER
- DECODING
- THE PROCESS BY WHICH THE RECEIVER ASSIGNS MEANING TO THE SYMBOLS ENCODED BY THE SENDER
- RECEIVER
- THE PARTY RECEIVING THE MESSAGE SENT BY ANOTHER PARTY
- RESPONSE
- THE REACTIONS OF THE RECEIVER AFTER BEING EXPOSED TO THE MESSAGE
- FEEDBACK
- THE PART OF THE RECEIVER'S RESPONSE COMMUNICATED BACK TO THE SENDER
- NOISE
- THE STATIC OR DISTORTION DURING THE COMMUNICATION PROCESS
- AIDA MODEL
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1.ATTENTION
2.INTEREST
3.DESIRE
4.ACTION - 3 TYPES OF APPEALS
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1.RATIONAL
2.EMOTIONAL
3.MORAL - RATIONAL APPEALS
- RELATE TO THE AUDIENCE'S SELF-INTEREST
- EMOTIONAL APPEALS
- ATTEMPT TO STIR UP EMOTIONS THAT CAN MOTIVATE PURCHASE.
- MORAL APPEALS
- DIRECTED TO THE AUDIENCE'S SENSE OF WHAT IS "RIGHT" & "PROPER".
- 3 MESSAGE STRUCTURE ISSUES
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1.WHETHER TO DRAW A CONCLUSION OR LEAVE IT TO THE AUDIENCE
2.WHETHER TO PRESENT A 1-SIDED ARGUMENT OR A 2-SIDED ARGUMENT
3.WHETHER TO PRESENT THE STRONGEST ARGUMENTS FIRST OR LAST - 2 TYPES OF COMMUNICATION CHANNELS
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1.PERSONAL
2.NONPERSONAL - PERSONAL COMMUNICATION CHANNELS
- CHANNELS THROUGH WHICH 2 OR MORE PEOPLE COMMUNICATE DIRECTLY WITH ONE ANOTHER
- WORD-OF-MOUTH INFLUENCE
- PERSONAL COMMUNICATION ABOUT A PRODUCT BETWEEN TARGET BUYERS & NEIGHBORS
- OPINION LEADERS
- PEOPLE WHOSE OPINIONS ARE SOUGHT BY OTHERS
- NONPERSONAL COMMUNICATION CHANNELS
- MEDIA THAT CARRY MESSAGES WITHOUT PERSONAL CONTACT OR FEEDBACK
- TYPES OF MAJOR MEDIA
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1.PRINT MEDIA
2.BROADCAST MEDIA
3.DISPLAY MEDIA
4.ONLINE MEDIA - ATMOSPHERES
- DESIGNED ENVIRONMENTS THAT CREATE OR REINFORCE THE BUYER'S LEANINGS TOWARD BUYING A PRODUCT
- 4 METHODS USED TO SET THE BUDGET FOR ADVERTISING
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1.AFFORDABLE METHOD
2.PERCENTAGE-OF-SALES METHOD
3.COMPETITIVE-PARITY METHOD
4.OBJECTIVE-AND-TASK METHOD - AFFORDABLE METHOD
- SETTING THE PROMOTION BUDGET AT THE LEVEL MANAGEMENT THINKS THE COMPANY CAN AFFORD.
- PERCENTAGE-OF-SALES METHOD
- SETTING THE PROMOTION BUDGET AT A CERTAIN PERCENTAGE OF SALES.
- COMPETITIVE-PARITY METHOD
- SETTING THE PROMOTION BUDGET TO MATCH COMPETITORS' OUTLAYS.
- OBJECTIVE-AND-TASK METHOD
- DEVELOPING THE PROMOTION BUDGET BY (1) DEFINING SPECIFIC OBJECTIVES, (2) DETERMINING THE TASKS THAT MUST BE PERFORMED TO ACHIEVE THESE OBJECTIVES, & (3) ESTIMATING THE COSTS OF PERFORMING THESE TASKS.
- 2 BASIC PROMOTION MIX STRATEGIES
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1.PUSH
2.PULL - PUSH STRATEGY
- A PROMOTION STRATEGY THAT CALLS FOR USING THE SALES FORCE & TRADE PROMOTION TO PUSH THE PRODUCT THROUGH CHANNELS.
- PULL STRATEGY
- A PROMOTION STRATEGY THAT CALLS FOR SPENDING A LOT ON ADVERTISING & CONSUMER PROMOTION TO BUILD UP CONSUMER DEMAND.
- MARKETING COMMUNICATIONS DIRECTOR (MARCOM MANAGER)
- HAS OVERALL RESPONSIBILITY FOR THE COMPANY'S COMMUNICATIONS EFFORTS.
- EVENTS
- STAGED OCCURRENCES THAT COMMUNICATE MESSAGES TO TARGET AUDIENCES.
- CHECKLIST FOR INTEGRATING THE FIRM'S MARKETING COMMUNICATIONS
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1.ANALYZE TRENDS
2.AUDIT COMMUNICATIONS SPENDING THROUGHOUT THE ORGANIZATION
3.ID ALL CONTACT POINTS FOR THE COMPANY & ITS BRANDS
4.TEAM UP IN COMMUNICATIONS PLANNING
5.CREATE COMPATIBLE THEMES, TONES, & QUALITY ACROSS ALL COMMUNICATIONS MEDIA
6.CREATE PERFORMANCE MEASURES THAT ARE SHARED BY ALL COMMUNICATIONS ELEMENTS
7.APPOINT A DIRECTOR RESPONSIBLE FOR THE COMPANY'S COMMUNICATIONS EFFORTS.