MAR 3023 Spring 2015 Dr Mike Brady General Overview of the Exam 4 Content Exam 4 Review Sheet Chapter 16 Integrated Marketing Communications 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 The communication link between sellers and buyers for the purpose of influencing informing or persuading a potential buyer s purchasing decision Purposes of promotion 1 To make customers aware of the product they re selling 2 A way to build brand strength o Know the elements of the promotion mix APPS and be able to identify examples of each Advertising Billboards internet TV is a paid non personal communication about an organization and its products transmitted to a target audience through mass media Personal Selling Is a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Public Relations is a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders Sales Promotion Coupons is 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 impact Coordination of promotion and marketing efforts for maximum o Know the difference between the traditional promotion mix and IMC Traditional has every concept loosely connected together IMC is more coordinated and everything works together its more effective 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 tool Ex Coke Zero marketing towards men 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 Pull Promoting a product only to the next institution down the marketing channel The producer promotes the product to wholesalers the wholesalers promote it to retailers and the retailers promote it to consumers o Trade shows and personal selling o Push money also known as spiffs An extra commission paid to retail employees to push products Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel o Children s toys o Ford Australia only produces a car when one is ordered by a customer Dell did the same thing o Understand the communication process and that messages are sent through channels and know what channels are The process that describes the exchange of information between Channels are like online or in person or on the phone o How the communication travels from the source to the two or more people Channel receiver o 2 types 1 Nonpersonal channels no personal contact 2 Personal channels involves direct contact with consumer Print broadcast Direct selling Salespeople WOM Buzz marketing o a subset of viral marketing wherein companies hire socially active consumers to promote products to their friends relatives and acquaintances consumers are typically unaware that the person is on the payroll 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 have Q scores o Q Scores Consumers level of familiarity with a name who have heard of her him The number of respondents who indicate that a person program or character is a favorite The score is calculated by dividing the two numbers Some argue that Q is better than Nielsen The Encoding The Decoding The process of putting words thoughts messages into symbolic form in such a way that they will be understood by the receiver consumer symbols are particularly good for this The process of transforming the message back into thought o The key is for the decoded message to resemble the encoded message o Problems can occur if there is too much noise Noise anything that interferes with or distorts the message Feedback The final piece of the communications process is Feedback the receiver s response to the message Can be difficult to assess One way to get feedback from objective sources Ad age rates the top 100 ad campaigns o Volkswagon s Think small 1959 campaign was 1 o Know the three parts stages of response models 3 successive stages 1 Cognitive Stage the thinking stage o Where the receiver becomes aware of the message 2 Affective Stage the feeling stage o Where the receiver forms a liking or preference for the ad object 3 Behavioral stage the doing stage o Where the receiver acts on the preference developed for personal selling represents the stages a salesperson must take a customer through to induce purchase attention interest desire action AIDA model Chapter 17 Advertising and PR o Know what advertising is and what effective adverting can do for a company 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 Most organizations even nonprofits engage in advertising o Know all parts of the six point advertising strategy 1 identifying and analyzing the target audience 2 defining the advertising objectives 3 creating the advertising platform 4 determining the advertising appropriation 5 developing the media plan 6 creating the advertising message 7 executing the campaign and 8 Evaluating advertising effectiveness o Understand different advertising mediums and an example of each Movies TV and Video Games Product placement Newspaper direct mail magazines Mentions Interactivity Coupons Flyers Classified ads Soccer Nascar Volleyball Sports 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 Because the average person sees 3000 ads a day it s hard to single out just one ad o Understand the different types of advertising and be able to recognize each one think of an example of each one Product Advertising Promotes the uses features and benefits of specific products Pioneer primary demand Focuses on a
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