MARK 4600: Test 1
52 Cards in this Set
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Integrated Marketing Communications
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coordination and integration of all marketing comm tools, avenues, and sources into a seamless program which maximizes the impact on consumers/end users at minimal cost. Includes b2b, channel, customer, external/internal comm, online, alter
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Communication Process
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know figure
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Communication
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transmitting, receiving, and processing info
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Encoding
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forming verbal and nonverbal cues
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Transmission Devices
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what messages travel to audiences through (channels or media)
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Decoding
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occurs when messages reach one or more of receiver's senses
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Feedback
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takes the form of he receivers response to sender. Purchases, inquires, complaints, questions, etc
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Noise
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anything that distorts or disrupts a message
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Marketing Mix
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know figure
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Emerging Trends in Marketing
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emphasis on accountability and measurable results
Changes in tasks performed by key individuals
Emergences in alternative media
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The value of IMC
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Advances in info tech
changes in channel power
increase in global competition
Increase in brand parity
Emphasis on customer engagement
Increase in micro-marketing
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Use of Social Media
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Two way communication
Emmergence of interactive sites and smartphones
Companies shifting expenditures from traditional to new, alternative media
Younger consumers (less TV, engaged in tech interactions)
Challenge - finding ways to reach consumers
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Brand Parity
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Brand metric which measure the perceived similarity/difference between brands competing in the same category
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Consumer Contact Point
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Any place where customers interact with or acquire additional info about a firm. Examined in an effort to improve the communication and relationship
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Corporate Image
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reflects the feelings consumers and businesses have about the overall organization and its individual brands
summarizes what company stands for and how it is known in the marketplace
critical ingredient in successful development of IMC plan
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The role of corporate image (consumer)
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Provides positive assurance
Reduces search time in purchase decision
Provides psychological reinforcement
Provides social acceptance of purchase
Provides confidence regarding purchase decisions
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The role of corporate image (company)
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extension of feeling to new products
ability to charge more
consumer loyalty + more frequent purchases
Positive WOM
Greater channel power
Higher quality employees
More favorable financial ratings
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Tangible elements of corporate image
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Goods/services sold
retail outlets where sold
factories where produced
advertising, promotions, and other forms of comm
corporate name and logo
packages and labels
employees
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Intangible elements of corporate image
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corporate, personnel, environmental policies
ideals and beliefs of personnel
culture of country and location of company
media reports
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Changing an image
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extremely difficult
when target market declines or product no longer matches industry trends
Requires more than advertising
Begins internally
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Overt Names
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reveal what a company does (American Airlines)
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Implied Names
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contain words or word parts that convey what a company does (FedEx)
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Conceptual Names
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capture the essence of what a company offers (Twitter)
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Iconoclastic Names
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represent something unique, different, and memorable. Doesn't reflect or imply what the company does (Calumet)
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Types of brands (family brands)
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Multiple products under one brand, transfer associations
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Types (brand extension)
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New good or service
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Flanker Brand
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New brand within current category
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Developing and building powerful brands
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understand why consumers buy a brand:
Where does your brand stand now?
What are objectives
What are you doing to build brand and business
Brands strengths and weaknesses
where are pitfalls
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Brand loyalty
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ultimate objective, only brand customers purchase, driven by emotion and value, consumer experience
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Brand Equity (value) - advantages
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Higher prices,
higher gross margin,
channel power,
additional shelf space,
reduces switching behavior,
prevents erosion of market share
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Brand Equity (value) - methods of measurement
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financial value
stock market value
revenue premium
consumer value
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Brand Trust
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Customer's belief in the efficacy and reliability of a brand
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Private (store) brands
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Product exclusively manufactured for a retailer
popularity has fluctuated
low price and quality
price sensitive consumers
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Archetypes
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****
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Social Acceptance
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Strong corporate name provides psychological reinforcement to consumers that they made a wise purchase decision
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Cognitive Dissonance
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*******
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3 Cs of the Planning Context
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Customers (current, former, potential new, competitors)
Competition (IMC planning process, sources of info)
Communications (company, industry, competitor)
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Geodemographic Segmentation (approach to positioning)
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Combines
Demographic census data
geographic info
psychographic info
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Usage Segmentation (AtP)
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Usage or purchase history
create clusters
taret specific clusters
create marketing programs for each cluster
measure growth and migration
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Benefit Segmentation (AtP)
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Winners
Dieters
Self-improvers
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Carryover Effects
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Refer to ads being remembered or carried over to the time when the product is needed and the consumer is thinking about the purchase
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Percentage of Sales
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sales if current year or next year
simple
tends to work in opposite direction
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Does not meet special needs
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look up types of budgets
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Hierarchy of effects model
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Awareness
Knowledge
Liking
Preference
Conviction
Purchase
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Means-ends theory
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Basic concept that a means (the message) leads to an end-state (personal value)
1. Know MECCAS
2. Elements:
Product attributes
Consumer benefits
Leverage points
Taglines
Personal Values
Executional framework
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Means-End Chain
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know figure
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Leverage Points
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Move consumers from benefits to personal value
Links attributes-benefits-personal values
Associated with attitude change
ads need powerful leverage points
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Taglines
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Key phrase in an advertisement
memorable
ID uniqueness or special meaning
Provide consistency
Catchy ones transcend campaigns
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Verbal and Visual Images
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Visual - easier to recall, stored as both pictures and words, concrete vs abstract
Visual Esperanto - ability of a visual to transcend cultures and languages conveying the same meaning
B2B has moved from verbal to more visual. More emotional as well
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Types of Appeals
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Fear
Humor
Sex
Music
Rationality
Emotions
Scarcity
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Fear
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Appeal strength - low (not noticed), high (ignored), moderate (best)
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Humor
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Gets and keeps attention
30% of TV and radio ads
Watch, laugh, remeber
Piques interest, increases recall, elevates mood
Can be offensive, overpower message, not focus on product
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MARK 4600: TEST 2