MGMT100 Lecture Notes - Lecture 8: Integrated Marketing Communications, Promotional Mix, Direct Marketing
Document Summary
Companies must do more than just create customer value. They must also use promotion to communicate that value clearly and persuasively. A company"s total promotion mix - also called its marketing communication mix consists of the following: Audience fragmentation and the desire to communicate with more tightly targeted smaller groups of consumers. Availability of on demand" viewing and listening. Availability of rich content that facilitates interactions and engagements. Advertising clutter: today"s consumers, armed with an arsenal of weapons, can choose what they watch and do not watch. Advertising messages must be better planned, more imaginative, more entertaining and more rewarding to consumers. Useful for creating awareness and long tern image. Effective for building preference, conviction and action. Cost effective in markets with high ticket items or where there are few buyers. Us and australian companies spend 3 times as much on personal selling as on advertising. Attracts consumer attention and provides incentives to purchase.
