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Chapter 12 and 13 (Week 9).docx

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Department
Commerce
Course
COMM 131
Professor
Jacob Brower
Semester
Winter

Description
Marketing: Chapter 12 and 13 – Integrated Marketing Communications (IMC) (Week 9) THE PROMOTION MIX (Marketing Communications Mix): • Specific blend of promotion tools that the company uses to persuasively  communicate customer value and build customer relationships FIVE MAJOR PROMOTION TOOLS: 1. Advertising: any paid form of non­personal presentation and promotion of ideas,  goods, or services by an identified sponsor 2. Sales Promotion: short­term incentives to encourage the purchase or sale of a  product or service 3. Personal Selling: personal presentation by the firm’s sales force for the purpose of  making sales and building customer relationships 4. Public Relations: building good relations with the company’s various publics by  obtaining favorable publicity, building up a good corporate image, and handling  or heading off unfavorable rumors, stores, and events 5. Direct Marketing: direct connections with carefully targeting individual  consumers to both obtain an immediate response and cultivate lasting customer  relationships Major Factors Changing in Marketing Communciations: • Consumers: better informed, more empowered • Marketing Strategies: shifting from mass marketing to build closer relationships  with consumers • Communications Technology: new ways for companies to reach consumers,  consumers have more control Integrated Marketing Communications (IMC): carefully integrating and coordinating the  company’s many communications channels to deliver a clear, consistent, and compelling  message about the organization and its products FACTORS THAT INFLUENCE MARKETER’S CHOICE OF PROMOTION TOOLS: • Advertising:  o Can reach masses of geographically dispersed buyers o Low cost per exposure o Can repeat message many times o Largest audience o Long­term image for brand o Impersonal/not directly persuasive o Can be very costly • Personal Selling: o Most effective in building up buyers’ preferences, convictions, and actions o Most common for business­to­business marketers o Long­term personal interaction  o Long­term commitment o Most expensive • Sales Promotion: o Coupons, rebates, contests, discounts Marketing: Chapter 12 and 13 – Integrated Marketing Communications (IMC) (Week 9) o Designed to:  Attract consumer attention  Offer strong incentives to purchase  Dramatize product offers  Encourage trial  Boost sagging sales o Invite and reward quick response o Short­term • Public Relations: o Very believable (reality) o Often interpreted as news (reaches people who don’t usually buy ads) o Dramatizes company or product • Direct Marketing: o Less public: message usually directed at individual o Immediate and customized: messages prepared very quickly and tailored  to appeal to specific customers o Interactive: dialogue between marketer and consumer (messages altered  depending on consumer response) o One­to­one customer relationships PROMOTION MIX STRATEGIES: • Push:  o Using sales force and trade promotion to “push” the product through  channels o Producer promotes product to channel members who then promote it to  final customers o Primarily personal selling and trade promotion • Pull: o Spending a lot on advertising and consumer promotion to induce final  consumers to buy the product o Creating a demand vacuum that “pulls” the product through the channel o Primarily advertising and consumer promotion o Ex. TV, print ads, Youtube Channel Marketing: Chapter 12 and 13 – Integrated Marketing Communications (IMC) (Week 9) Factors Considered When Designing Promotion Mix Strategies: • Type of product/market • Product life­cycle stage PERSONAL SELLING Personal presentation by the firm’s sales force for the purpose of making sales and  building customer relationships • Salesperson: an individual representing a company to customers by performing  one or more of the following activities: prospecting, communicating, selling,  servicing, information gathering, relationship building Sales Force Management: Analysis, planning, implementation, and control of sales force activities.  Major Steps: • Designing sales force strategy and structure • Recruiting and selecting salespeople • Training salespeople • Compensating salespeople • Supervising salespeople •
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