BU SMG MK 323 - Marketing 12: Integrated Marketing Communication

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Five interrelated activities emerge in supply chain management DISCUSED BELOWMarketing 12: Integrated Marketing CommunicationIntegrated Marketing Communication (IMC) – the concept of designing marketing activities – advertising, personal selling, sales promotion, public relations, electronic media, and community building – in combination to provide clarity, consistency, and maximum communication impactacross all audiences- Represents the promotion of the 4 Ps- Each of the different marketing communication elements areregarded as a part of a whole which offers a different means toconnect with the target audience- Three elementso Consumero Channelo Evaluation of ResultsThe Communication Process- Sender must be clearly identified to the intended audience- Transmitter (marketing agency) develops marketing communications to the customer- Encoding – converting the sender’s ideas into a message- Communication Channel – the medium that carries the message (print, broadcast, etc.)- Receiver – the person who reads, hears, or sees and processes the information contained in the message or advertisement- Decoding – the process by which the receiver interprets the sender’s message- Noise – any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium, which poses a problem for all communication channels- Feedback Loop – allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properlyHierarchy of Effects1. Be aware of the products existence2. Be motivated to give some attention to the product and itsbenefits3. Evaluates the benefits of the product and whether or not it isworthy4. If they buy –a good experience may lead to repurchaseThe AIDA Model - “Think, feel, do” Model- Awareness/Attention leads too Senders first must gain the attention of the consumero A multichannel approach increases the likelihood the message will be receivedo Awareness Metrics Aided Recall – when consumers indicate they know the brand when the name is presented to them Top-of-mind awareness – the highest level of awareness that occurs when consumers mention a specific brand name first when they are asked about a product or service- Interest which leads too Message needs to include attributes that are of interest to the target audienceo After the customer is aware, they must be persuadedo The customer must want to further investigate the product/service- Desire which leads too Message should move the consumer from “I like it” to “I want it”- Actiono Purchaseo The Lagged Effect–delayed response to a marketing communication campaignElements of an IMC Strategy- Advertising – (see info below) a paid form of communication, delivered through media from an identifiable source, about an organization, product, service, or idea, designed to persuade the receiver to take some action, now or in the futureo Extremely effective for creating awareness of a product or service and generating interesto Most visible element of IMCo Must break through the clutter of other messages to reach its intended audience- Public Relations – involves managing communications and relationships to achieve various objectives, such as building and maintaining a positive image of the firm, handling or heading off unfavorable stories or events, and maintaining positive relationships with the mediao “Free” media attention o Importance of PR has grown as the costs of other forms of media have increased o More credible for consumers than advertisingo Cause-related marketing – refers to commercial activity in which businesses and charities form a partnership to market an image, product, or service for their mutual benefito Event Sponsorship – occurs when corporations support various activities usually in the cultural or sports and entertainment sectors- Sales promotions – special incentives or excitement-building programs that encourage the purchase of a productor serviceo Can be aimed both to end user or channel memberso Can be used for long or short term objectiveso Used in conjunction with other forms of IMCo Cross-promoting – when two or more firms join together to reach a specific target marketo Evaluating Sales Promotions The realized margin from the promotion The cost of the additional inventory carried due to buying more than the normal amount The potential increase in sales from the promoted merchandise The long-term impact on sales of the promotion The potential loss suffered when customers switch to the promoted merchandise from more profitable products The additional sales made to customers attracted to the store by the promotion- Personal Selling – the two-way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decisiono High cost compared to other forms of promotiono Most efficient way to sell certain products/services- Direct Marketing – marketing that communicates directly with target customers to generate a response or transactiono Growing element of IMCo Allows for personalization of the messagegood for multicultural groups o Win-win situation for customers and firms because the customer’s needs are addressed efficiently and firms are able to gather large amounts of data about customersdata base technology improveso Includes email and M-commerce (Mobile Commerce) – involves communicating with and even selling to customers through wireless handheld devices- Electronic Mediao Websites - Build brand image - Educates customers about their products or services and where they can be purchased = Sell direct to consumerso Corporate Blogs - can create positive word of mouth by connecting to customers by forming a community and increase sales by responding directly to customers’ comments and develop a long-term relationship with the companyo Social media – media content distributed through social interactions – help facilitate the consumer decision process – creates communities between customers which can have both a positive and negative effecto Online GamesPlanning And Measuring IMC Success- Should be explicitly defined and measured but be aware that you are estimating a forecast- Goals and Objectives: Short-term or Long-termo Increasing Awarenesso Prompting trialo Increase repeato Increase saleso Customer loyalty- IMC Budgeto Objective-and-task Method – determines budget

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BU SMG MK 323 - Marketing 12: Integrated Marketing Communication

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