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 one of the four elements of the marketing mix communication link between sellers and buyers Purposes influencing informing 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 i e through tv radio internet newspapers magazines direct mail outdoor displays and signs on mass transit vehicles Personal Selling a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation i e when a seller reaches a consumer personally door to door selling telemarketing Public Relations a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders i e in the form of publicity events speaking opportunities press releases newsletters blogs social media press kits and outbound communication Sales Promotion an activity or material that acts as a direct inducement offering added value or incentive for a product to resellers salespeople or customers i e free samples games rebates sweepstakes contests premiums coupons o Know what integrated marketing communications IMC are and why companies use them Integrated Marketing Communications coordination of promotion and other marketing efforts for maximum impact AKA working together for one common consistent message They use to this to further consumer engagement and effectively promote their product o Know the difference between the traditional promotion mix and IMC Traditional Promotion Mix viewing IMC tools as separate puzzle pieces many of marketing promotional functions were planned managed separately lacks coordination and consistency viewed as ancillary additional services and handled on project basis IMC connected puzzle various IMC tools are coordinated with media ad And work together contemporary approach to advertising and promotion a consistent and unified image in the marketplace centralized messaging function 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 EXAMPLE 1 to target guys with diet drinks make them manly color design don t use the word DIET sponsor NASCAR Coke Zero EXAMPLE 2 To score a job your brand your values details the way you dress and speak how you interact Lisa 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 producer to wholesalers wholesalers to retailers retailers to consumers i e trade shows and personal selling Pull Policy promoting a product directly to consumers so that a strong demand is developed and the product is therefore pulled down the marketing channel i e childrens toys when Ford or Dell only produces a car PC when ordered by customer 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 2 or more people Messages are sent through channels Channels letters in person emails How the communication travels from the source to the receiver o Nonpersonal no personal contact with the consumer print broadcast o Personal involves direct contact direct selling salespeople WOM buzz marketing Buzz marketing cutco promote to friends relatives and aquaintances o Know the elements of the communication process Know what each of these are parts of each and what noise is Elements Sender Source person group organization that has info to share o Company salesperson celebrity Q score Encoding Information converting words thoughts messages into symbols Message Development knowing target market to successfully pass on the message Media TV Radio Internet etc o 90 are screen based o i e 7 10 use second device while watching TV Decoding by receiver or audience symbols are converted into concepts ideas thoughts o Key is for decoded message to resemble encoded message Feedback receivers response to a message sender source becomes receiver NOISE anything that reduces a communication s clarity accuracy o Can be difficult to assess o Think of the telephone game Can control sender source encoding message development media Cannot control decoding feedback noise o Know the three parts stages of response models Cognitive stage thinking stage where the receiver becomes aware of the message Affective stage feeling stage where the receiver forms a liking or preference for the ad object Behavioral stage doing stage where the receiver acts on the preference o Know what advertising is and what effective advertising can do for a company Advertising a paid form of nonpersonal communication that is transmitted to a target audience through mass media Effective advertising can influence customers purchasing behavior throughout their lifetimes o Know all parts of the six point advertising strategy Advertising and PR Primary purpose what is the primary purpose of the ad Primary benefit what unique benefit can we offer customers Secondary benefit what other key benefits will customers receive from our products or services Target Audience at whom market segments are we aiming this ad Audience reaction what response do we want from our audience Company personality what image do we want to convey in our ads o Understand different advertising mediums and an example of each Movies TV Video Games i e product placement mentions interactivity Newspaper direct mail magazines i e coupons flyers classified ads sports 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 average American is exposed to more than 3000 ads per day Too many ads It is difficult for a company to get a customer to pay attention to their advertisement because the customer is already exposed to so many other ads o Understand the different types of advertising and be able to recognize each one think of an example of
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