MKTG 477 1st Edition Lecture 5 Outline of Last Lecture - Integrated Marketing Communications- Promotional mix elementsOutline of Current Lecture I.Marketing ActivitiesII. IMC Audience Contact ToolsIII. Participants in the IMC ProcessIV. A Guiding Principle of PromotionV. Developing a Promotion StrategyCurrent LectureMarketing Activities – need to be coordinated for IMC- The 4 P’so Product – Marketers make decisions on packing, brand names, etc. (Little kids will pick the cereal with bright colors and cartoon characters)o Place/distribution – Marketers can decide how they want to communicate the brand in different stores (Levi have a different brand image when sold in Nordstrom vs. Walmart)o Pricing – Some companies have higher prices to portray themselves with a certain brand image, even though cost production is close to the same (Perfume from Nordstrom vs. Walmart, silver and gold = expensive, red and blue = cheap)o Promotion – last lectureIMC Audience contact tools- Target audience (diagram in book)o Broadcast mediao Print mediao PR/publicityThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Interneto Direct marketing, etc.Participants in the IMC process- Advertiser (sponsor or company advertising product)- Advertising agency- Media organizations (TV networks, blimps, P&G pays Walmart TV to advertise their products throughout stores, McDonalds TV, Daily Evergreen, magazines)- Other IMC specialists – sales promotion agencies, PR firms, etc.- Collateral services – marketing research firms (for example, hired to conduct focus groups)A guiding principle of promotion- All promotion should be aimed at a specific target group, with a specific objective in mind, and within a certain budgetary constraintDeveloping a promotion strategy- Research (consumer, competition, etc.)- Target marketing- IMC strategies (with budgetary constraints)- Monitoring resultsTarget MarketTarget
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