MAR3023 Basic Marketing Concepts EXAM 4 on Brady s Review Sheet you NEED to know it which is pretty much everything o Integrated Marketing Communications Integrated Marketing Communications What is a promotion Promotion Mix a combination of promotional methods used to promote a specific product Textbook Definition Communication to build and maintain relationships by informing and persuading one or more audiences Brady s Definition encouragement of the progress growth or acceptance of something furtherance What is the purpose of promotion Promotion is one of the four elements of the marketing mix The communication link between sellers and buyers for or persuading the purpose of influencing informing potential buyer s purchasing decision a Advertising is a paid non personal communication about an organization and its products transmitted to a target audience through mass media Examples television radio the Internet newspapers magazines video games direct mail outdoor displays and signs on mass transit vehicles Personal Selling is a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Kinesic Communication communicating through the movement of head eyes arms hands legs or torso Proxemic Communication communicating by varying the physical distance in face to face interactions Tactile Communication communicating through touch Public Relations is a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders Examples annual reports brochures event sponsorship and sponsorship of socially responsible programs aimed at protecting the environment or helping disadvantaged individuals 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 Examples free samples games rebates sweepstakes contests premiums and coupons Integrated Marketing Communications IMC Traditional Promotion Mix Know the difference between IMC and Traditional Promotion Mix Historically companies would think differently about the different Textbook Definition The coordination of promotion and other marketing efforts for maximum informational and persuasive impact Brady s Definition When companies coordinate all of their promotional messages to create one voice in how they approach customers Example The Terry Tate Office Linebacker commercials for Reebok Example Taco Bell had a sales promotion with the Red Sox where if the team stole a base during the 2007 MLB World Series baseball game they would give away a free crunchy taco to every person in America 90ft To Free Tacos For America Taco Bell had a very integrated message they were trying to send consumers in a very coordinated way very successful promotion Why do companies use IMC Everything companies do within their promotional efforts from the sales promotions and advertisements that they run to the PR and selling they do focuses on delivering one efficient message to consumers channels they were using to get messages to consumers they would look at all of the promotional efforts some listed below separately which would result in their messages actually being counterproductive IMC takes all of the promotional efforts and fits them neatly together so that they re really coordinated and consumers understand the message they re getting from the firm Also those same messages are consistent among whatever channel the consumer interacts with All of it fits together so the whole is better than just some of the parts Media Advertising Goals of IMC Publicity Point of Purchase Sales Promotion Packaging Direct Response Interactive Marketing Direct Marketing Public Relations and Special Events o 1 Consistent message to customers o 2 Coordinate manage promotional efforts o 3 Synchronization of promotional elements o 4 Use more precisely targeted promotional tools Example Coca Cola introducing Coke Zero they were selling diet drinks to guys with the Tab pink can mainly attracting women made the Coke Zero can a guy s color black had men come in to look and help pick the packaging design and didn t use the word diet diet vs zero They also sponsored NASCAR 2 General Promotional Strategies that companies can use to approach marketing communications for customers Know differences between examples of Push Pull Policy Push Policy when companies promote a product only to the next institution pushing them down the marketing channel The producer promotes the product to wholesalers the wholesalers promote it to retailers and the retailers promote it to consumers Examples o Trade shows where companies try to attract retailers and wholesalers to be interested in their product personal selling paid to employees to push products o Push Money aka spiffs an extra commission Pull Policy promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel pretty much the opposite of Push Policy where companies are promoting directly to consumers trying to create consumer demand to the point where it s actually the consumers that pull the product through the marketing channel Where the consumers get so excited about products that they ask retailers specifically about them and when the retailers get asked enough about a specific product they go out and find a manufacturer for that product so they can meet consumer requests Examples o Children s Toys Toy manufacturers try to get kids SO excited about toys they bug their parents about it until their parents get so tired of hearing about it that they go out and buy that toy specifically o Ford Australia only produces a car when one is ordered by a customer demand is literally pulled my customer Dell does same thing Communication Process The process that describes the exchange of information between two or more people describes the process that companies use to get messages to consumers Messages are sent through channels What is considered a channel Letters email in person internet or TV ad Elements of the Communication Process NOISE anything that interferes with or distorts the message 1 Sender Source process starts at the top with the Sender Source that has the information they want to convey to the end receiver could be a company salesperson or even a celebrity Q Scores Every celebrity has a Q score and it helps companies determine which celebrities are going to
View Full Document
Unlocking...