Exam 4 Review Integrated Marketing Communications o Know what a promotion is and understand what the purposes of promotion are Promotion Encouragement of the process growth or acceptance of something furtherance In marketing it is one of the four elements of the marketing mix The communication link between sellers and buyers for the purpose of influencing informing or persuading a potential buyers purchasing decision o Know the elements of the promotion mix APPS and be able to identify examples of each Advertising is a paid non personal communication about an organization and its products transmitted to a target audience through mass media Ex internet television print billboard Personal Selling is a paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Public Relations are a broad set of communication efforts used to create and maintain favorable relationships between an organization and its stakeholders Sales Promotion 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 Integrated Marketing Communications IMC Coordination of promotion and marketing efforts for maximum impact Companies use this because if you hit the message across all the different channels it tends to be more affective Know the difference between the traditional promotion mix and IMC Promotions were scattered and less effective with the traditional promotion mix and with the IMC the puzzle pieces fit together and the message hits all the different channels making it more effective and more coordinated o Know the goals of IMC and an example Goals of IMC 1 Consistent message to customers 2 Coordinate manage promotional efforts 3 Synchronization of promotional elements 4 Use more precisely targeted promotional tools Example 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 policy 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 Trade shows and personal selling Push money also known as spiffs An extra commission paid to retail employees to push products Pull policy Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel Children s toys 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 two or more people Messages are sent through channels letters email in person 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 evaluated in terms of how attractive they are in selling products LeBron James Encoding 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 Starbucks McDonalds Message Development The Channel how the communication travels from the source to the receiver Two types Non personal channel Print broadcast Personal Channel Direct Selling Salespeople WOM Buzz Marketing Media Buzz Marketing 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 Example Sony Ericsson used undercover marketers to act like tourists for the purpose of promoting its digital camera phone Decoding the process of transforming the message back into thought The key is for the decoded message to resemble the encoded message Problems can occur if there is too much Feedback the receiver s response to the message Can be difficult to assess One way to get feedback from objective sources Noise clutter difficult for advertisers to get message across to consumers in a way that s clean and noise free So much noise out there that we as consumers have trained ourselves to not listen to brand messages Anything that interferes with or distorts the message Know the three parts stages of response models 1 Cognitive stage the thinking stage Where the receiver becomes aware of the message 2 Affective stage the feeling stage Where the receiver forms a liking or preference for the ad object 3 Behavioral stage the doing stage Where the receiver acts on the preference o AIDA Model developed for personal selling represents the stages a salesperson must take a customer through to induce purchase attention interest desire action Advertising and PR 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 Most organizations even nonprofits engage in advertising Know all parts of the six point advertising strategy Understand different advertising mediums and an example of each Movies TV and Video Games o Product placement o Mentions o Interactivity Newspaper direct mail magazines o Coupons o Flyers o Classified ads Sports o Soccer o Nascar o Volleyball a 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 The average American is exposed to more than 3000 ads per day b 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 product category Got Milk Beef Advocacy Advertising Conveys a firm s position on a public issue Competitive points out a brand s advantages relative to competing brands Three types
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