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Chapter 17 Lecture Notes

by: Alexis Cone

Chapter 17 Lecture Notes 86498 - MKT 3010 - 006

Alexis Cone
GPA 3.31
Principles of Marketing
Amanda Cooper Fine

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About this Document

Lecture notes covering Chapter 17 from 11/5/15.
Principles of Marketing
Amanda Cooper Fine
Class Notes
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This 0 page Class Notes was uploaded by Alexis Cone on Thursday November 5, 2015. The Class Notes belongs to 86498 - MKT 3010 - 006 at Clemson University taught by Amanda Cooper Fine in Spring 2015. Since its upload, it has received 19 views. For similar materials see Principles of Marketing in Marketing at Clemson University.

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Date Created: 11/05/15
Chapter 17 11052015 Integrated Marketing Communications IMC New Communications Realities o Fragmentation Information technology 0 Model shift 0 From broadcasting to quotnarrowcastingquot More inclined to position a product in different ways in different markets Integrated Marketing Communications 0 How rms integrate and coordinate communication channels 0 Deliver clear consistent and compelling messages Idea is to try to maximize your communication by utilizing a variety ofchanneb Elements of an IMC Strategy 0 Advertising 0 Sales Promotion 0 Public Relations 0 Personal Selling 0 Direct Marketing 0 Catered to the individual identify potential customers and try to give them a clear consistent message that is personalized to them Easily personalizable Growth of data 0 More expenditures out of the overall budget is coming to direct marketing from traditional advertising 0 New technologies new channels 0 Tools telephone mail catalogs email mobile marketing ect 0 Ex Ikea allows you to scan a code in their catalog with your phone and it shows you what that piece of furniture would look like in your house 00 0 Online Marketing The Communications Process 009373 0 Starts with the sender the rm wanting to communicate a message to the consumer the transmitter encodes the message the rm wants to communicate communications channel is the media you choose to pitch your message the receiver is the consumer who decodes the message from the rm 0 O O O 1 The sender and the transmitter do not control how the receiver decodes the message Noise is something the inhibits the receiver from decoding the message in the proper way Feedback did the intended consumer receive the message and did the decode it in the appropriate way Ex Metallica Guitar Hero Commercial with the basketball coaches and Risky Business reference was shown during the Final Four they also used different people on different channels to reach different markets Communicating with Consumers o The AIDA Model 0 Developed to look at the different mental stages people go through when they see a message 0 Awareness Want to gain the attention of your target market so you can go through the rest of the model The more channels you have the easier it is to create awareness Aided recall a On a multiple choice test you can see the answer and it triggers your memory Top of mind awareness n Highest level of awareness Interest Want consumers to be intrigued about your product Desire Going from I like or I m interested in that product to I want that product Action Consumer purchase Don t always go through all the steps in the same order Impulse purchase goes to action rst and then continues to through the other stages The lagged effect People can see an add and be aware but don t always move to the next stage immediately Advertising and communications don t always have an immediate impact About multiple exposures and which exposure prompted you to purchase the product 0 There is also a fatigued effect where you can negatively impact your brand by advertising and communicating too much ResultsDriven Elements Planning for and Measuring IMC Success 0 Goal oriented strategy 0 Set outcome we are hoping to achieve 0 Different strategies are better at achieving certain goals o Is your strategy short or long term 0 Well de ned and easily measured 0 Budget 0 Rule of thumb methods Easier and more frequently used but aren t really great for a variety of reasons Affordable method available method a Worst but easiest to implement I Just taking your leftover budget to put towards promotion a Research shows there is a relationship between promotional efforts and sales a Makes the annual budget really inconsistent and advertisingcommunications become the last priority Percentageof sales method a What are your forecasted and current sales a Pick a percentage of your sales to become your promotional budget a Issue is sales are impacting promotion and how do you determine what percentage to use Competitive parity method a What does the marketcompetition spends o Objectiveandtask method Best method to use 1 Lay out the objectives for the rm for these products 2 Identify the tasks that are best at accomplishing your objectives 3 Budget is whatever it takes to complete those tasks 0 Measuring success 0 Frequency Measuring how often a target market is exposed to your communication within a period of time 0 Reach What percentage of the target population that saw a speci c add at least once 0 Gross rating points Frequency X Reach Search engine marketing 0 Impressions Number of times an online add appears in front of the user 0 Clickthrough rate Online measure of reach Number of times your intended market clicks on a link or add divided the number of impressions 0 Relevance When your searching for something how relevant are the adds that pop up 0 ROI sales revenue advertising costadvertising cost


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