FINAL STUDYGUIDE FOR MAR 3023 Luke Hopkins and Mike Brady Ch 17 Integrated Marketing Communication I What is promotion a One of the four elements of the marketing mix The communication link between sellers and buyers or the purpose of influencing informing or persuading a potential buyer s purchasing decision i Can use commercials salesman advertising ii Think of well known commercials that stand out to you have to entertain you and grab your attention so you can get the message iii Overall US spending on Advertising and Promotion is up to 220 Billion dollars more advertising because more competition iv Advertising mediums growing are the internet print ads going way down television has stayed the same 1 Proctor and Gamble 1 AT T 2 II Promotion mix a Advertising paid non personal communication about an organization and its products transmitted to a target audience through mass media b Personal selling paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation c Public relations broad set of communication efforts used to create and maintain a positive light between organization and its stakeholders d Promotion incentive to purchase product coupon rebate free samples contests i Factors which determine which promotion mix to use 1 Budget product life cycle kind of product purchase decision target market regulations competitors ii Then decide which medium to use print television radio online social news III Integrated marketing communications a Coordination of promotion and marketing efforts for maximum impact to deliver one mail message i Ex Steal a base steal a taco connected to major league baseball b Traditional promotion mix everything was separate and going in their own direction i IMC makes everything make sense and work together to point you in one direction otherwise would lose interest in the message c Goals of IMC i Consistent ii Coordinated coordinate manage promotional efforts to be logically connected iii Complementary synchronization to create a greater overall campaign iv Continuity use more precisely targeted promotional tools over time 1 Ex Get a coupon to buy pants after you buy a shirt from a store v Ex Make diet coke can manly don t use diet black sponsor of NASCAR and Game Day coordinated and aimed at men IV Two general promotion strategies a Push policy targeting other businesses i Next institution in the marketing channel ii Producer promotes the product to wholesalers wholesalers promote it to retailers and the retailers promote it to consumers 1 Ex Trade shows personal selling 2 Push money known as spiffs extra commission paid to retail b Pull policy aim promotion directly at consumers employees to push products i Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel 1 Children s toys Ford Austrailia only makes a car when consumer wants it Communication process V a Process describes how two people exchange information between two or more people messages sent through channels i Letters email in person ii Elements in the communication process 1 Source has info encoding information message development communication channel medium decoding the message receiver feedback a Noise interferes with process outside influences competitors 2 Source person or organization who has information to share company salesperson celebrities a Q score how much you have to pay a celebrity to promote your product measure of familiarity likability VI Q score considers two factors a Consumers level of familiarity with a name who have heard of him her b The number of respondents who indicate that a person program or character is a favorite the score is calculated by dividing the two numbers c Other Q scores include TVQ Cable Q Dead Q Sports Q Cartoon Q Brand Attachment Q Performer Q VII Encoding process of putting words and thoughts into symbolic form enter consciousness faster than words a Ex Starbucks symbol McDonalds arch VIII The channel how communication travels from source to the receiver a Non personal no personal contact with consumer i Print broadcast b Personal involves direct contact i Direct selling word of mouth buzz marketing IX Buzz Marketing subset of viral marketing wherein companies hire socially active consumers to promote products to their friends relatives and acquaintances a Consumers are typically unaware that the person is on the payroll b Sony Ericsson used undercover people to act like tourists to take picture with their camera c P G employs teens between ages of 13 19 to promote its products X Decoding process of transforming message back into a thought a Key is for the decoded message to resemble the encoded message b Problems can occur if there is too much noise i Ex Had a Woody Woodpecker endorser Touch Woody message they were trying to send was not the message they were sending XI Feedback receivers response to the message a Can be difficult to assess one way to get feedback from objective sources i Ad age rates top 100 campaigns XII Response models describes the process receivers must go through before a desired behavior occurs a Cognitive stage thinking stage aware of the message b Affective stage the feeling stage decide if you like the ad object c Behavioral stage the doing stage acts on the preference d AIDA model developed for personal selling i Goes through stages a salesperson must take a customer through to induce purchase attention interest desire action Ch 18 Advertising and PR I What is advertising a A paid form of non personal communication that is transmitted to a target audience through mass media can influence customer s purchasing behavior throughout their lifetimes most organizations engage in advertising b First ad was the newspaper 1704 in the Boston News Letter P G ivory soap 1882 11000 Coca Cola 1886 c First radio ad was in 1922 d First television was in 1941 e Banner ad 1994 Wire com f Facebook 2004 small contracts with companies that sold moving services t shirts and other products college students use II Advertising mediums a Movies tv video games i Product placement mentions interactivity b Newspaper direct mail magazines i Coupons flyers classified ads c Sports d Internet i Soccer nascar volleyball III Advertising pervasiveness a You see 3 000 ads a day exposed to them b Companies have to cut through clutter to get to your target audience c Ex 15 nike swoosh on an FSU football player IV Types of
View Full Document
Unlocking...