MAR 3023 Fall 2014 Dr Mike Brady General Overview of the Exam 4 Content Integrated Marketing Communications Exam 4 Review Sheet o Know what a promotion is and understand what the purposes of promotion are Definition Encouragement of the progress growth or acceptance of something furtherance In marketing One of the four P s Purpose is for 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 each 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 an 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 them IMC are the coordination of promotion and marketing efforts for maximum impact Companies use them in order to be more effective when reaching customers o Know the difference between the traditional promotion mix and IMC The traditional promotional mix is where many of the of the marketing and promotional functions were planned and managed separately with different budgets different views of the market and different goals and objectives The IMC approach seeks to have all of a company s marketing and promotional activities project a consistent unified image in the marketplace o Know the goals of IMC and an example Consistent message to customers Goals Manage promotional efforts Use more precisely targeted promotional tools Synchronization of promotional elements Example Coca Cola maintaining a consistent approach with the creation and promotion of Coke Zero i e black can don t use the word diet sponsored NASCAR o Understand the difference between a push and a pull promotion strategy and be able to identify an example of each from a scenario 1 Push policy Promoting a product only to the next institution down the marketing channel Example Wholesaler promotes to the retailer retailer to the consumer Pull policy Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel Example Children s toys advertisements o Understand the communication process and that messages are sent through channels and know what channels are Communication process process that describes the exchange of information between two or more people messages are sent through channels Channels letters email in person ect 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 The Source the person organization that has information to share company salesperson celebrity Encoding process of putting words thoughts and messages into symbolic form in such a way that they will be understood by the receiver consumer symbols like the Nike swoosh or the McDonald s M Message development The Channel how the communication travels from the source to the receiver o Two types 1 Nonpersonal 2 Personal Media the use of various media mediums as communication channels Decoding the process of transforming the message back into thought Noise anything that interferes with or distorts the message Feedback the receiver s response to the message can be difficult to assess o Know the three parts stages of response models 1 Cognitive stage the thinking stage receiver becomes aware of message 2 Affective stage the feeling stage receiver forms a liking or preference of the ad object Advertising and PR 3 Behavioral stage the doing stage receiver acts on ad preference o Know what advertising is and what effective adverting can do for a company Advertising paid form of nonpersonal communication that is transmitted to a target audience through mass media What can it do can influence customers purchasing behavior throughout their lifetimes o Know all parts of the six point advertising strategy 1 Primary Purpose What is the primary purpose of our ad 2 Primary Benefit What unique benefit can we offer customers 2 3 Secondary Benefit What other key benefits will customers receive from our products or services 4 Target Audience At whom what market segments are we aiming this ad 5 Audience Reaction What response do we want from our audience 6 Company Personality What image do we want to convey in our ads o Understand different advertising mediums and an example of each Movies TV and Video Games Product placement Mentions Interactivity Newspaper direct mail magazines Coupons Flyers Classified ads Sports on jerseys courts cars gear Soccer NASCAR Volleyball 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 advertisements are everywhere where we go all the time and companies are having a hard time having consumers pay attention to their ads because we see on average about 3 000 advertisements a day o Understand the different types of advertising and be able to recognize each one think of an example of each one Product advertisement Promotes the uses features and benefits of specific products most advertisements our product does this and that Pioneer Primary demand focuses on a product category Got Milk ads Advocacy advertising conveys a firm s position on a public issue We I D on beer packaging Competitive points out a brand s advantages relative to competing brands Comparative compares two or more brands on one or more characteristics Papa John s Better ingredients Better pizza directed at Domino s Reminder reminds customers of an established brand s characteristics and benefits see picture Reinforcement assures users they have made the right choice o Know what the next wave of advertising is and why The next wave of advertising is mobile ads Why Really cheap and personalized and easy access o Understand new frontiers in advertising What is the current state Why is this not working and What are companies doing that is new Current
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