MKTG204 Lecture Notes - Lecture 9: Earned Media, Brand Equity, Corporate Identity
6 Nov 2018
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Conveying information through press conferences or press releases. Developing guidelines on what to say, or not say, in a crisis. Creating a positive image to aid a donation drive. Neutralising bad publicity arising from the recall of products. Gaining free publicity for a new product launch or a new advertising campaign. Pr is relevant to a wide range of stakeholders: External (e. g. customers, shareholders, the media, the government) In marketing, the main focus is almost always consumers or customers (external stakeholders) The process of managing productive engagement with all relevant internal and external publics, so that a firm"s improved relationship with these groups enhances its reputation and generates positive publicity. A marcoms manager needs the concentrate on two areas: Acquiring free publicity (which is more cost-efficient than advertising) Free publicity means obtaining free media coverage (that is, editorial space) Pr has more credibility than advertising due to the "third party endorsement effect".
