MAR 3023 fall 2013 Dr Mike Brady Exam 4 Review Sheet General Overview of the Exam 4 Content Integrated Marketing Communications o Know what a promotion is and understand what the purposes of promotion are Promotion Encouragement of the progress growth or acceptance of something furtherance In Marketing Promotion One of the four elements of the marketing mix The communication link between sellers and buyers for the purpose of influencing informing or persuading a potential buyer s purchasing decision Proctor Gamble P G Advertise the most Own a ton of different products o Know the elements of the promotion mix APPS and be able to identify examples of each They have to think about the competitors regulations type of product etc before they deal with APPS APPS Advertising is a paid non personal communication about an organization and its products transmitted to a target audience through mass media Personal selling is a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Public relations is a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders Sales promotion is an activity or material that acts as a direct inducement offering added value or incentive for the product to resellers salespeople or customers Ex free samples games rebates sweepstakes contests premiums and coupons o Know what integrated marketing communications IMC are and why companies use them IMC Coordination of promotion and marketing efforts for maximum impact All of the things a company does from a promotional sense in order to send a single message to consumers Ex Everytime the Redsocks stole a base at world series people got a free taco Fans loved it o Know the difference between the traditional promotion mix and IMC Traditional Marketing sales PR point of purchase special events and etc were all separate IMC Takes all those things and coordinates them so they fit together in order to help Pull Policy consumers understand and like them Everything fits together so that the whole is better o Know the goals of IMC and an example Consistent message to customers Coordinate manage promotional efforts Synchronization of promotional elements Use more precisely targeted promotional tools o Understand the difference between a push and a pull promotion strategy and be able to identify an example of each from a scenario Push policy Promoting a product only to the next institution down the marketing channel The producer promotes the product to wholesalers the wholesalers promote it to retailers and the retailers promote it to consumers Ex Trade shows and personal selling Push money also known as spiffs An extra commission paid to retail employees to push products Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel Ex Children s toys Advertise so well that the child begs the parent for the toy making the parent go to the store to demand that toy Ford Australia only produces a car when one is ordered by a customer Dell did the same thing o Understand the communication process and that messages are sent through channels and know what channels are Communication Process The process that describes the exchange of information between two or more people Messages are sent through channels Email Phone Mail In Person Etc o Know the elements of the communication process Source sender encoding information message development media decoding feedback source sender Know what each of these are parts of each and what noise is 1 Source Sender has original information the person organization that has information to share Company Salesperson Celebrity have Q scores Q stands for quality considers two factors Consumers level of familiarity with a name who have heard of her him The number of respondents who indicate that a person program or character is a favorite The score is calculated by dividing the two numbers Divide favorite Familiarity Some argue that Q is better than Nielsen Ex So if 50 are familiar and 10 list as a favorite then the score is 20 The average is 18 TVQ rates broadcast television programs Cable Q rates cable television programs Performer Q rates living celebrities Dead Q rates the current popularity of deceased celebrities Sports Q rates sports figures Cartoon Q rates cartoon characters video games toys and similar products Brand Attachment Q rates brand and company name 2 Encoding Information The process of the sender putting words thoughts and messages into symbolic form in such a way that they will be understood by the receiver consumer Writing on a paper talking to someone etc symbols are particularly good for this Ex Starbucks green lady symbol 3 Message Development The Channel how the communication travels from the source to the receiver Two types 1 Nonpersonal channels no personal contact with consumer Print broadcast etc 2 Personal channels involves direct contact Best are through TV and Internet Direct selling Salespeople WOM Buzz marketing Media Buzz Marketing a subset of viral marketing wherein companies hire socially active consumers to promote products to their friends relatives and acquaintances consumers are typically unaware that the person is on the payroll ex Sony Ericsson used undercover marketers to act like tourists for the purpose of promoting its digital camera phone P G s Tremor company employs 250 000 teens between the ages of 13 19 to promote its products 4 5 Decoding the process of transforming the message back into thought The key is for the decoded message to resemble the encoded message Problems can occur if there is too much Decoding Gone Wrong Panasonic created a new web browser and had received license to use the cartoon character Woody Woodpecker as an interactive internet guide The day before the huge marketing campaign Panasonic realized its error and pulled the plug Why Touch Woody The Internet Pecker Noise anything that interferes with or distorts the message 6 Feedback The final piece of the communications process The receiver s response to the message Can be difficult to assess One way to get feedback from objective sources Ad age rates the top 100 ad campaigns Volkswagon s Think small 1959 campaign was 1 o Know the three parts stages of response models 1 Cognitive stage the thinking stage Where the receiver becomes aware of the message 2 Affective stage the feeling stage Where
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