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MKTG 3132 Week 3 (Aug 30 - Sept 1) Class Notes

by: Tavish Smith

MKTG 3132 Week 3 (Aug 30 - Sept 1) Class Notes MKTG 3132

Marketplace > Georgia Southern University > Marketing > MKTG 3132 > MKTG 3132 Week 3 Aug 30 Sept 1 Class Notes
Tavish Smith
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About this Document

These are the class notes from the third week of class, which was August 30th through September 1st.
Principles of Advertising
Dr. Kathleen Gruben
Class Notes
Marketing, Advertising
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This 4 page Class Notes was uploaded by Tavish Smith on Tuesday September 6, 2016. The Class Notes belongs to MKTG 3132 at Georgia Southern University taught by Dr. Kathleen Gruben in Fall 2016. Since its upload, it has received 6 views. For similar materials see Principles of Advertising in Marketing at Georgia Southern University.

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Date Created: 09/06/16
Week 3 – August 30, 2016 – September 1, 2016 Chapter 1 Continued Contact or Touch Point  Every opportunity a customer has to see or hear about a company &/or its brands or have an encounter or experience with it  Categories o Company created – controlled o Intrinsic – internal to company o Unexpected o Customer-initiated IMC Audience Contact Tools  Broadcast media  Print media  PR/Publicity  Digital o Internet/interactive o Social media o Mobile  Direct marketing  Sales promotion  Product placements  Branded entertainment  Events & sponsorships  Word of mouth  Point-of-purchase  Personal selling  Out-of-home media IMC Contact Points  High relative impact o Unexpected o Customer-initiated o Intrinsic o Planned: company-created  High control o Planned: company-created o Intrinsic o Customer-initiated o Unexpected IMC Planning Process  Integrated marketing communications management o Planning, executing, evaluating, & controlling the use of the promotional-mix elements to effectively communicate with target audience  IMC Plan o Developing, implementing, & controlling an organizations IMC program IMC Planning Model  Review of marketing plan  Analysis of promotional program situation & the communication process  Budget determination  Develop IMC  Integrate & implement marketing communications strategy  Monitor, evaluate, and control IMC program Marketing Plan  Describes overall marketing strategy & programs for an organization & includes: o Detailed situation analysis o Specific marketing objectives with time-frame & mechanism for measuring performance o Selection of target market(s) & plans for the 4 elements of the marketing mix o Program for monitoring & evaluating performance o Attainable & reachable (reasonable) goals Review of Marketing Plan  Examine overall marketing plan & objectives  Identifying the role of advertising & promotion  Performing competitive analysis  Assessing environmental influences Internal Analysis  Assesses the firm & relevant areas involving the product/service offering  Assessment of: o Capability to develop & implement promotional program o Brand image & implications for promotion o A products relative strengths & weaknesses  Reviews previous promotional programs & results  Find uses other than your products original use External Analysis  Focuses on characteristics of a firm’s customers, market segments, positioning strategies, & competitors o Customer analysis o Competitive analysis o Environmental analysis Chapter 2: The Role of IMC in the Marketing Process Strategic Marketing Plan  Guides o Allocation of organization’s resources o Specific marketing programs & policies  Evolves from an organization’s overall corporate strategy Opportunity Analysis (External)  Marketing opportunities: areas where: o Favorable demand trends exist o Customer’s needs & opportunities are not being satisfied o Firm can compete effectively  Steps to identify market opportunities o Examine the marketplace o Observe demand trends & competition in various market segments o Example: competitive shopping (see what products competitors are carrying) Completive Analysis  Analyzing the competition in the marketplace & searching for a competitive advantage o Competitive advantage: attributes that give a firm an edge over competitors  Better quality products  Superior customer service  Low production costs & lower prices  Dominating channels of distribution  Advertising Target Market Selection  After evaluating market opportunities & competitive analysis  Direct implications on a firm’s advertising & promotional efforts  Spokesperson needs to match your audience Target marketing Process  Identify markets with unfulfilled needs  Determine market segmentations  Select a market to target  Position through marketing strategies Market Segmentation  Dividing a market into distinct groups with common needs, who respond to a marketing situation o Geographic segmentation o Demographic segmentation o Psychographic segmentation Bases for Market Segmentation  Behavioristic segmentation o Groups according to usage, loyalties, or buying responses to a product o 80-20 rule (Pareto rule)  Benefit segmentation o Grouping on the basis of attributes sought in a product Selecting Target Markets  Determine number of segments Market Coverage Alternatives  Undifferentiated marketing  Differentiated marketing  Concentrated marketing


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