General Overview of the Exam 4 Content Integrated Marketing Communications 1 o Know what a promotion is and understand what the purposes of promotion are The communication link between sellers and buyers for the purpose of influencing informing or persuading a potential buyer s purchasing decision Make them accept and see your product as positive 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 via mass media Advantages o Cost efficient when it reaches a lot of people at a low cost person o Source can repeat message several times o Can add to product value depending on how it is advertised Disadvantages o Absolute dollar outlay may be very high High costs create limits Personal selling Paid non personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation More costly to reach one person than through advertising but greater impact Immediate feedback Interpersonal communication o Kinesic communication Communication through movement of hands eyes Either person varies the physical distance between arms legs etc o Proxemic communication them o Tactile communication Touching handshake Less popular in the U S Public relations Broad set of communication efforts used to create and maintain favorable relationships between and organization and its stakeholders Goal create and enhance a position image of the organization 2 Publicity based p r o Press conference articles etc Sales promotion 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 etc Tends to be irregular o Products services may be seasonal Ex Promotions for Toro tractors in non peak seasons August o Know what integrated marketing communications IMC are and why companies use them Coordination or promotion and marketing efforts for maximum impact The goal is to send a consistent message to consumers Enable synchronization of promotion elements and can improve efficiency and effectiveness of promotion budgets o Know the difference between the traditional promotion mix and IMC Traditional Lacks coordination and consistency All components are viewed separately IMC o Functions are planned and managed separately with different budgets market views and goals and objectives All the company s marketing and promotional activities project a consistent unified market image o Centralized messaging function so that everything a company says and does communicates a common theme and positioning Everything works seamlessly together o Know the goals of IMC and an example Consistent message to customers Coordinate manage promotional efforts Synchronization of promotional elements Use precisely targeted promotional tools Coke zero for men o Black packaging not diet o Understand the difference between a push and a pull promotion strategy and be able to identify an example of each from a scenario Not mutually exclusive a company can use both Push policy Promoting a product only to the next institution down the marketing channel 3 Producer promotes the product to the wholesalers wholesalers promote it to retailers retailers promote it to consumers o Trade shows o Push money extra commission paid to retail employees to Pull policy push products Promoting a product directly to consumers to develop strong demand that pulls products through the marketing channel o Ford Australia only produces a car when one is ordered by a customer o Understand the communication process and that messages are sent through channels and know what channels are The process that describes the exchange of info between two or more Source shares info with receiver Receiver decodes the coded message Communication channel medium of transmission that carries the coded message from the source to the receiver or audience Decoding process signs and symbols are converted into concepts and people ideas Feedback receivers response to the decoded message 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 Source Person org that has info to share o Company salesperson o Celebrity Q score Considers two factors Consumer level of familiarity with a name and of respondents who indicate that that person is a favorite Encoding Process of putting words thoughts messages into symbolic form in such a way that they will be understood by the receiver consumer o Symbols are good The channel How communication travels from the source to the receiver o Non personal channels Print or broadcast o Personal channels Buzz marketing Direct selling word of mouth salespeople 4 Subset or viral marketing wherein companies hire socially active consumers to promote products to their friends relatives and acquaintances The process of transforming the message back into thought o Decoded message should resemble encoded message Receiver decodes the message if more than one receiver its an Decoding audience Noise Anything that interferes with or distorts the message Can be caused if there is a symbol that is unfamiliar Reduces the clarity and accuracy o Ex poor internet radio static May originate in the receiver o They may not understand the message Feedback The receivers response to the message Can be difficult assess During feedback the original receiver becomes the source and the original source becomes the audience o Know the three parts stages of response models The process that receivers must go through before a desired behavior occurs Cognitive stage thinking stage o Receiver becomes aware of the message Affective stage the feeling stage o Receiver forms a liking or preference for the ad object Behavioral stage the doing stage o Where the receiver acts on the preference Advertising and PR o Know what advertising is and what effective advertising can do for a company Paid form of non personal communication that is transmitted to a target Effective advertising can influence customers purchasing behavior audience through mass media throughout their lifetimes o Know all parts of the six point advertising strategy o Understand different advertising mediums and an example of each Movies TV video games Product placement Mentions Interactivity 5 Newspaper
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