General Overview of the Exam 4 Content Integrated Marketing Communications each them 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 The communication link between sellers and buyers for the purpose of influencing informing or persuading a potential buyer s purchasing decision o Know the elements of the promotion mix APPS and be able to identify examples of Advertising paid non personal communication about an organization and its products transmitted to a target audience through mass media Personal Selling paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Public Relations broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders Sales Promotion activity or material that acts as a direct inducement offering added value or incentive for the product to resellers salespeople or customers free samples games rebates sweepstakes contests premiums and coupons o Know what integrated marketing communications IMC are and why companies use IMC is the coordination of promotion and marketing efforts for maximum impact Everything a company says and does communicates a common theme and positioning Coordination and Consistency o Know the difference between the traditional promotion mix and IMC Traditional Promotions Mix Many of the marketing and promotional functions of a company were planned and managed separately with different budgets different views of the market and different goals and objectives Package design sales promotion direct marketing services etc are not consistent with one another done on a project basis rather than IMC Integrated Marketing Communications IMC Centralized messaging Everything that a company does is consistent and fits with a common theme IMC tools are coordinated with media advertising and work together in a seamless fashion to create an effective communications program o Know the goals of IMC and an example Goals of IMC Consistent message to customers Coordinate manage promotional efforts Synchronization of promotional elements Use more precisely targeted promotional tools Example the target market of men with diet drinks Coke Zero 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 strategy Promotion a product only to the next institution down the marketing channel E g Produce Wholesaler Retailers Consumers Pull strategy Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel E g Ford promoting directly to consumers and then consumer demand pulling vehicles through the marketing channel o Understand the communication process and that messages are sent through channels and know what channels are Communication process is just the process that describes the exchange of information between two or more people messages sent through channels such as letters emails face to face conversations etc The sharing of meaning 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 Source Sender a person group or organization that has a meaning it attempts to share with an audience Receiver is the individual group or organization that decodes a coded message An audience is two or more receivers Encoding Information To transmit meaning a source must convert the meaning into a series of signs or symbols representing ideas or concepts These signs or symbols need to be familiar to the receiver or audience This requires knowledge of the target market to ensure that messages are received Message Development The development of the message using signs and symbols for the target market Media The parlay of the message into the media to reach its target market Decoding signs or symbols are converted by the receiver into concepts and ideas Feedback The receiver response to the message which is then sent to the original sender Noise Anything that reduces a communication s clarity and accuracy the result of decoding differs from what was coded the meaning is decoded incorrectly unfamiliar to receiver etc o Know the three parts stages of response models Cognitive stage the thinking stage Receiver becomes aware of message Receiver forms a liking or preference for the ad object Affective stage the feeling stage Behavioral stage the doing stage Receiver acts on the preference Advertising and PR o Know what advertising is and what effective adverting can do for a company Advertising is a paid form of nonpersonal communication that is transmitted to a target audience through mass media Can make or break a business e g Coca Cola o Know all parts of the six point advertising strategy Primary purpose primary purpose of ad Primary benefit unique benefit to offer customers Secondary benefit other key benefits customers will receive from products or services Target audience who what market segments the ad is aimed towards Audience reaction response ad is looking for from audience Company personality image desired to be conveyed in ads o Understand different advertising mediums and an example of each Movies TV Video Games Product Placement Mentions Interactivity Newspaper Direct Mail Magazines Coupons Flyers Classified ads Sports Soccer Nascar Volleyball Etc o Know what advertising pervasiveness is and why it is so difficult for a company to get a customer to pay attention to their advertisement Advertising pervasiveness is the constant advertising surroundings that cause a customer to begin to just ignore ads o Understand the different types of advertising and be able to recognize each one think of an example of each one Advocacy Advertising like the We I D stickers Competitive points out a brand s advantages relative to competing brands Comparative compares two or more brands on one or more characteristics Reminder reminds customers of an established brand s characteristics and benefits Reinforcement assures current users they have made the right choice o Know what the next wave of advertising is and why Mobile advertising ads sent to mobile phones because of their prevalence in modern society now accounts for 2 of the advertising market o
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