59 Cards in this Set
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Integrated Marketing Communications
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the coordination and integration of all marketing communication tools, avenues and sources within a company into a seamless program which maximizes the impact on consumers and other end-users.
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The Communication Process
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...
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Emerging Trends of IMC
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1. Emphasis on accountability and measurable results
2. Changes in tasks performed
3. Emergence of alternative media
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Accountability & Measurable Results
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-economic pressures
-want results from marketing budgets
-effort led by CEOs,CFOs, & CMOs
-advertising agencies expected to deliver results
-emerging social media changes communication
-emerging alternative methods and media
-less reliance on mass TV ads
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Changes in Technology
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•Instant communications
•Consumers have access to unlimited information
•Consumer communication has increased
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Channel Power
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channel member's capacity to control the other channel members
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Global Competition
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•Information technology and communication has changed marketplace
•Products can be purchased from multiple locations
•Customers want both low prices and high quality
•Manufacturers and retailers must work together
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Global Competition
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the ability of a profit-making organizations to compete with other businesses in other countries.
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Brand Parity
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Results when consumers believe that most brands provide the same set of attributes. Quality becomes less of a concern because consumers think that only minor quality differences exist between brands.
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Brands
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the names, terms, design, symbols, and other features that distinguish a seller's goods or services from those of other sellers
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Family Brands
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A group of related products sold under one name.
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Brand Extension
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The use of an established brand name on products or services not related to the core brand.
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Flanker brand
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The development of a new brand sold in the same category as another product.
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Co-branding
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The offering of two or more brands in a single marketing offer.
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Ingredient Branding
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The placement of one brand within another brand.
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Cooperative Branding
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The joint venture of two or more brands into a new product or service.
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Complementary branding
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The marketing of two brands together for co-consumption.
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Private Brands
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Proprietary brands marketed by an organization and sold within the organization's outlets.
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Benefits of Brand Equity
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•Higher prices
•Higher gross margins
•Channel power
•Additional retail shelf space
•Reduces customer switching behavior
•Prevents erosion of market share
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Methods of Measuring Brand Equity
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Financial value
Stock market value
Revenue premium
Consumer value
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changes in private labels
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- improved quality
- perceived as value purchase
- loyalty to retail outlets
- increased advertising
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Manufacturers tactics to combat gains made by private labels
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1.) focus on core brands
2.) increase advertising
3.) introduce new products
4.) focus on in-store selling and packaging
5.) use alternative methods of marketing
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Components of a corporate Image are
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Tangible
Goods and Services
Retail outlets
Corporate name and logo
Intangibles
Corporate, personnel, environment
Ideals & Beliefs of corporate
Culture of Country and Location
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Corporate Names
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Overt: What company does(American Airlines)
Implied: Words that convey what company does (Fedex IBM)
Conceptual: Capture the essence of what a company offers (Twitter Krispy Kreme)
Iconoclastic: Unique different memorable (Monster.com)
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Logos
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•Aids in recall of specific brands
•Aids in recall of advertisements
•Reduces shopping effort
•Reduces search time and evaluation of alternatives
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Consumer decision-making process
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need recognition
information research
evaluation of alternatives
purchase
post-purchase behavior
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Consumer Purchasing Process
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•Consumers recognize need or want
Physical/Functional
Social/Symbolic
Psychological/Experiential
•Can be triggered by advertising
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Internal/external search
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Internal information search - recalling info. stored in memory
External information search - seeking info. in the outside environment.
(two types - marketing and non-marketing)
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Level of motivation
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•Level of involvement
•Need for cognition
•Level of shopping enthusiasm
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Attitudes
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•Affective- feelings or emotions a person has about the object
• Cognitive- mental images, understanding, and interpretations of the person.
• Conative- intentions, actions, or behavior
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Cognitive Mapping
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•Cognitive linkages
• Processing new information
• Retaining information
• New concepts
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Marketing Message
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Strengthen current linkage
Modify current linkage
Create new linkage
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Methods of evaluating alternatives
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Evoked set- consists of the brands the individual considers in a purchasing situation.
Multiattribute-
•Brand’s performance for each attribute
•Importance of each attribute
Affect referral-
•Saves mental energy
•Multiattribute approach may have been used previously
•Consumers often…
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Types of B-to-B sales
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•Straight rebuy
• Modified rebuy
• New task
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Types of B-to-B buying processes
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1.Identification of needs
2.Establishment of objectives
3.Identification of vendors
4.Vendor evaluation
5.Vendor selection
6.Negotiation of terms
7.Postpurchase evaluation
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IMC planning process
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..
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Customers
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•Current customers
•Former customers
•Potential new customers
•Competitors’ customers
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Communications in IMC planning
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•Company communications
•Industry communications
•Competitor communications
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tests to determine viable segment
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•The individuals or businesses within the segment are homogeneous.
• The market segment is different from the population as a whole and distinct from other market segments.
• The market segment is large enough to be financially viable to target with a separate marketing campaign.
• The…
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methods for segmentation
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• Demographics
• Psychographics
• Generations
• Geographic
• Geodemographics
• Benefits
• Usage
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VALS2
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•Innovators – successful, sophisticated – upscale products
•Thinkers – educated, conservative, practical – durability, value
•Achievers – goal-oriented, conservative, career, and family
•Experiencers – young, enthusiastic, impulsive, fashion, social
•Believers – conservative, conventi…
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geodemographic segmentation
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demographics combined with geographic segmentation to select target markets for advertising
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Benefit segmentation
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Different consumers seek different primary benefits from the same product
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Product Positioning approaches
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•Product Attributes
• Competitors
• Use or application
• Price/quality
• Product user
• Product class
• Cultural symbol
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communication objectives
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§Develop brand awareness
§ Increase category demand
§ Change customer beliefs and attitudes
§ Enhance purchase actions
§ Encourage repeat purchases
§ Build customer traffic
§ Enhance firm image
§ Increase market share
§ Increase sales
§ Reinforce purchase decisions
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factors impacting relationship between promotions and sales
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•The goal of the promotion
•Threshold effects
•Diminishing returns
•Carryover effects
•Wear-out effects
•Decay effects
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methods of determining budget
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•Percentage of sales
•Meet-the-competition
•“What we can afford”
•Objective and task
•Payout planning
•Quantitative models
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IMC components
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•Traditional advertising
•Trade promotions
•Consumer promotions
•Media spending
•Alternative media spending
•Business-to-business media spending
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Advertising and IMC process
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•Advertising still major component
•Role of advertising varies
•Business-to-business sector
•Supporting role
•Consumer sector
•Primary communication vehicle
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Outside Agency VS In-House Research
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Outside:
new ideas
more objective than in-house
special expertise
local expertise (ex: american org wants info on german markets)
In-House
Quick completion
Close Collaboration
Cheaper
Company Secrecy
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budget allocation considerations
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75-15-10 Rule
75% - Media buys
15% - Creative work (agency)
10% - Ad production
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crowd-sourcing
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the idea of trusting the collective opinion of a crowd of people rather than that of an expert
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boutique vs. full-service agency
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•Advertising agencies
•Media service companies
•Direct marketing agencies
•Consumer and trade promotion specialists
•Online and digital agencies
•Social media agencies
•Public relations agencies
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Evaluation criteria in choosing an agency
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•Size of the agency
•Relevant experience of the agency
•Conflicts of interest
•Creative reputation and capabilities
•Production capabilities
•Media purchasing capabilities
•Other services available
•Client retention rates
•Personal chemistry
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Creative Pitch
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Addressing a specific problem, situation or set of questions. The presentation reveals how each agency with deal with specific issues that arise
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advertising research
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•Understand customers
•Purchase benefits, not attributes
•Product-specific research
Consumer-oriented research
Focus groups
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advertising goals
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•To build brand image
•To inform
•To persuade
•To support other marketing efforts
•To encourage action
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the advertisingn budget(manner of distribution)
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-pulsating schedule
-flighting schedule
-continuous schedule
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creative brief
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•The objective
•The target audience
•The message theme
•The support
•The constraints
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MKTG 380: EXAM 1