MARK Chapter 17 Notes
MARK Chapter 17 Notes MARK 3001
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This 6 page Class Notes was uploaded by Kyla Brinkley on Thursday October 22, 2015. The Class Notes belongs to MARK 3001 at University of Georgia taught by Kimberly Grantham in Summer 2015. Since its upload, it has received 66 views. For similar materials see Principles of Marketing in Marketing at University of Georgia.
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Date Created: 10/22/15
Kyla Brinkley MARK 3001 Notes Fall 2015 1 Chapter 17 Integral Marketing Communications a Integrated marketing communication IMC represents the promotion dimension of the 4 P s encompasses a variety of communication disciplines general advertising personal selling sales promotion public relations direct marketing and electronic media in combination to provide clarity consistency and maximum communicative impact i Strategy must have welldefined purposesupport and extend message delivered by other elements ii Product won t have consumers unless people know about it iii elements of IMC strategy 1 consumer 2 channels 3 evaluation b Communicating With Consumers i Number of communication media has increased 1 More complex to reach target consumers ii The AIDA Model 1 Consumers go through several steps before taking ac on 2 AIDA model Think Feel Do Model a common model of the series of mental stages through which consumers move as a result of marketing communications a Awareness i Brand awareness measures how many consumers in a market are familiar with the brand and what it stands for created through repeated exposures of the various brand elements name logo symbol character packaging slogan in the firm s communications to consumers 1 Strength of link between brand name and product ii Aided recall occurs when consumers recognize a name eg of a brand that has been presented to them iii Topofmind awareness a prominent place in people s memories that triggers a response without them having to put any thought into it 1 Evoked set 2 Memorable names 3 Repeated exposure of name through ads 4 Locations 5 sponsorships 6 Memorable symbols b Interests i Increase consumer s interest level ii Persuaded that product is worth inves ga ng c Desire i After peaking interest ii Move from I like it to I want it d Action i Goal is to drive receiver to action ii Act on interest by searching forpurchasing product iii Lagged effect a delayed response to a marketing communication campaign 1 Takes several exposures to an ad to be fully processed c Elements of an Integrated Marketing Communication Strategy iv Firm must deliver right message to right audience through right media Goal of IMO is to use different channels together so sum exceeds total of individual channels Elements of IMC campaign can be passive or interactive from consumer s perspective and onIineoffline Advertising a paid form of communication from an identifiable source delivered through a communication vi vii viii channel and designed to persuade the receiver to take some action now or in the future 1 Effective for creating awareness of a product or servicegenerating interest 2 Mass advertising is passive and this is traditional a Reply on certain images Public Relations PR the organizational function that manages the firm s communications to achieve a variety of objectives including building amp maintaining a positive image handling or heading off unfavorable stories or events amp managing positive relationships with the media 1 Relatively passive 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 pointofpurchase displays 1 Designed for use with other ads 2 Free samples 3 Point of purchase displays 4 Designed to build short term sales 5 CRM programs meant to build customer loyalty Personal Selling the 2 way flow of communication between a buyer amp a seller that is designed to influence the buyer s purchase decision 1 B28 2 Communicating directly with potential customer is costly but is the bestmost efficient way to sell products 3 Sales representative add value Direct Marketing sales and promotional techniques that deliver promotional materials individually 1 Communicates directly with target customers to generate response or transaction 2 Traditional a Mail catalogues email mobile marketing 3 Increased use of customer databases track consumers a Grows direct marketing 4 Mobile marketing marketing through wireless handheld devices like cell phones a Apps ix Online Marketing 1 Websites a Build brand image b Educate customers about products c Sell merchandise d Community building e Posting reviews x Blog weblog a web pages that contains periodic posts corporate blogs are a new form of marketing communications 1 Communicate trends 2 Announce special events 3 Create positive word of mouth 4 Connect customers 5 Develop long term relationship with company 6 Interactive xi Social media media content used for social interactions such as YouTube Facebook and Twitter 1 Review 2 Communicate 3 Aggregate information about products prices and promotions 4 Interactform community 5 Facilitate consumer decision process d Planning for and Measuring IMC Success i Goals 1 What outcome does firm hope to achieve 2 Short term goals a Generating inquiries b Increasing awareness c Prompting trial 3 Long term goals a Increasing sales market share amp customer onaHy 4 Should be explicitly definedmeasured 5 Part of firm s overall promotional plan ii Setting amp Allocating the IMC Budget 1 All the methods of setting a promotional budget have advantages amp disadvantages so no one method should be used in isolation Objectiveandtask method an IMC budgeting method that determines the cost required to undertake specific tasks to accomplish communication objectives process entails setting objectives choosing media and determining costs Ruleofthumb methods budgeting methods that base the IMC budget on either the firm s share of her operating the market in relation to the competition a fixed percentage of forecasted sales or what is left after other operating costs amp forecasted sales have been budgeted a easy to implement but have limitations b takes rounds of negotiations to devise final IMC budget iii Measuring Success Using Marketing Metrics 1 2 3 Measure success of campaigns Each step of IMC process can be measured to determine effectiveness Lagged effect influences amp complicates marketers evaluations of a promotion s effectiveness Traditional Media a Measures of frequencyreach used to gauge customers exposure to marketing communications b Frequency measure of how often the audience is exposed to a communication within a specified period of time c Reach measure of consumers exposure to marketing communications the percentage of the target population exposed to a specific marketing communication such as an ad at least once d Gross rating points GRP measure used for various media advertising print radio tv GRP reach x frequency 5 WebBased Media a Assessing effectiveness of webbased communications efforts requires web tracking software b Website visitation data etc c Google Analytics iv Planning Implementing amp Evaluating IMC Programs An Illustration of Google Advertising 1 Search engine marketing SEM a type of Web advertising whereby companies pay for keywords that are used to catch consumers attention while browsing a search engine a Google AdWords b Sponsored Link section 2 Impressions the number of times an advertisement appears in front of the user 3 Clickthrough rate CTR the number of times a user clicks on an online ad divided by the number of impressions 4 Relevance in the context of search engine marketing SEM it is a metric used to determine how useful an advertisement is to the consumer 5 Return on investment ROI the amount of profit divided by the value of the investment In the case of an ad the ROI is sales revenue the ad s cost the ad s cost
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