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BUS 343 - Chapter 12.pdf

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Simon Fraser University
Business Administration
BUS 343
Robert Krider

By Mark Liangco | BUS 343 Chapter 12 (Week 10) Integrated Marketing Communications - Unifying all marketing communication tools, corporate and brand messages in a consistent way to and with stakeholder audiences. Characteristics of IMC - Creates a single unified voice o Presents a unified selling proposition in the marketplace by eliminating duplication and conflicting communication. - Develops relationship with customer o IMC firms measures their success by share of customers, not share of the market, and by the lifetime value of the customer. o It is easier and less expensive to retain a customer than to attract a new one. - involves two-way communication - focuses on stakeholders as well - Results based on actual feedback. Database Marketing - The creation of an ongoing relationship with a set of customers in a good or service and whose responses to promotional efforts have become part of future communication attempts. Characteristics of Database Marketing - It is interactive o If you know the information of someone, you can make each marketing personal - Builds relationships o The best predictor of who will but a product is to know who bought it in the past. - Locates new customers o A marketer can create new customers by focusing communications on likely prospects with characteristics similar to current users - Stimulates cross selling o It is easier to offer similar products to their customers when they are in the database - Measurable o Are able to measure the effectiveness of each message since it is personalized The Communication model - Specifies that a number of elements are necessary for communication to occur – a source, message a medium and a receiver. 1) Identify the Target Audience
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