IMC Miderm Notes.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 3322F/G
Professor
John White
Semester
Winter

Description
MOS 3322 Integrated Marketing Communications Chapter 1: Understanding Integrated Marketing Communications  Need complete solutions to communications  Challenge for organizations today is to successfully combine various communications disciplines into an effective marketing communications strategy plan  Influence of technology has forced business organizations to examine how they deliver messages to their target market o Movement from targeted media to mass media  Must deliver same messages through a variety of media to have synergistic impact on the target market The Integrated Marketing Communications Mix  Integrated Marketing Communications: the coordination of all forms of marketing communications in a unified program that maximizes the impact on the intended target audience.  IMC Mix (7 prime areas) o Media Advertising  Focuses on message strategies and media strategies  Advertising - form of marketing communications designed to stimulate positive response from a defined target market  Placement of persuasive messages in time or space purchased in any of the mass media by organizations that seek to inform and persuade members of a target market o Once a positive attitude toward a specific product or company is created in a customers mind they may be motivated to purchase  Product Advertising (product/service oriented) – advertising that provides information about a branded product to help build its image in the minds of the customer o Features, attributes, and benefits are presented in a persuasive manner  Promotional Advertising (promotion oriented) – advertising that communicates a specific offer to encourage an immediate response from the target audience o Coupon or contest promotion o Digital communications  Placement of an advertising message on a website, or an ad delivered by email or through mobile communications devices  Online, mobile, CD/DVD  Commercial messages  Consumers are somewhat sceptical of online and cell phone advertising o Invasion of privacy  Must realize that the online services they take for granted must be paid for by someone  Customer Relationship Management – process that enables an organization to develop an ongoing relationship with valued customers  Organization captures and uses information about its customers to its advantage in developing the relationship o Direct response  The delivery of a message to a target audience of one  Ex. Direct mail, direct response television, telemarketing, cell phones  Rapid growth  Direct from the marketing company to the specific user (or prospective user)  Convenience  Interactive comm..  Using electronic devices to reach target markets (internet)  CRM o Sales promotions  Activity that provides incentives to bring about immediate response from customers, distributors, and an organizations sales force  Special incentives to stimulate an immediate reaction from consumers and distributors  Promotions expenditures tend to be divided between consumers and distributors  Consumer = coupons, free samples, contests, cash refunds o Direct mail campaign is an example of how sales promotions are integrated with media advertising  Distributor = price discounts for purchasing foods in large quantities, trade promotion (performing some kind of marketing or merchandising task on behalf of the marketing organization)  Consumer promotion strategies should be aligned effectively with consumer advertising programs (to pull the product through the channel of distribution)  Trade promotions should be aligned effectively with personal selling programs (to push the product through the channel of distribution) o Personal selling  Personalized message from seller to buyer  Human component  Handle consumer inquiries  Secure product distribution and availability o Public Relations  Form of communications designed to gain public understanding and acceptance  Influence the attitudes and opinions of interest groups  Generate free exposure o Ex// press release announcing a new product  Crisis management  Shaping public opinion  Offers legitimacy o Experimental Marketing  Form of marketing that creates an emotional connection with the consumer in personally relevant and memorable ways  Event Marketing – process planned by a sponsoring organizations, of integrating a variety of communications elements with a single event theme o Consumers are immersed in a brand experience o Sponsorship – act of financially supporting an event in return for certain advertising rights and privileges o Personal Selling  Face to face communication involving the presentation of features and benefits of a product of a service to a buyer  Objective is to make a sale  Car salesperson, store clerk, sales rep  Compelling advertising campaigns bring them to the organization -> can all be a waste if salesperson is unprepared to handle customer inquiries effectively o Sponsorship + Event Marketing  Event marketing: the process, planned by a sponsoring organization, of integrating a variety of communications elements with a single event theme  Sponsorship: financially supporting an event in return for certain advertising rights and privileges Factors encouraging IMC  Media Consumption Trends o Moving towards newer electronic forms of communications o Consumers multi task with media  Using technology to avoid watching commercials o Traditional media buyers must alter their approach in the new environment o In 1950s the placement of a 60 second commercial would reach 80% of North America’s population  Today you would need 100 commercials o Media no longer controls when and where people watch and listen, the people do!  Database Management Techniques and Customer Relationship Marketing o System that collects information about customers for analysis by managers to facilitate sound business decisions o Can predict how likely the customer is to buy and then develop a message precisely designed to meet the customers unique needs o Ultimate goal is to aim directly at the smallest segment  The individual o More traditional means of communications are used to pursue new customers o Non traditional media is used to retain and enhance customer relationships  Telemarketing, online communications, social networking, loyalty programs  Digital Communications Technologies o 70% of Canadian households subscribe to the internet o Networks have begun streaming shows  New advertising opportunities for marketing organizations o Managers now realize that online and other forms of interactive communications are complementary to traditional media  When used together -> improve awareness levels and stimulate more action o Creates a personal link to consumers for marketers  Demand for Efficiency and Accountability o Organizations now understand that scarce resources can be put to better use if the efforts of individual activities are coordinated  Ex// Levi’s “Live Unbuttoned” campaign uses videos, print ads, tv ads, digital campaigns, button covers, and in store activation o Intense pressure on managers to be more accountable for producing tangible results for their marketing communications investments  Can be measured by ROI  Consumer responses to the communication can be tracked without cost Input for Marketing Communications Planning: Consumer Behavior Essentials  Consumer Behavior – the combined acts carried out by individuals choosing and using goods and services, including the decision making processes that determine these acts  Needs and motives o Needs - The perception of the absence of something useful o Motives- Condition that prompts action to satisfy a need  Consumers are motivated by word of mouth (friends, family members), influenced by what they see and read in the media, broadcast messages on tv and radio o There is a direct link between needs and motives o Understanding the marketplace and customer needs: needs stem from a sense of felt deprivation o Maslow’s Hierarchy of Needs and Theory of Motivation  When lower level needs are satisfied a person moves up to higher level needs  Satisfied needs do not motivate than behavior is influenced by needs yet to be satisfied  1. Physiological needs (hunger, thirst)  2. Safety needs (security, protection, comfort)  ex// motivate people to buy life insurance  3. Social needs (sense of belonging, love)  4. Esteem needs (self esteem, recognition, status, achievement)  ex// beauty and personal care products -> new target market of young boys  5. Self actualization needs (self-development, realization of potential, fulfillment)  Top of pyramid  Personality and Self Concept o Personality- individual distinguishing psychological characteristics that lead to relatively consistent and enduring responses to the environment in which that person lives  Influenced by self perceptions  Influenced by family, reference groups, and culture o Self Concept Theory  Real self – an objective evaluation of one’s self  You as you really are  Self image – how you see yourself  It may not be your real self but a role you play with yourself  Looking glass self – how you think others see you  Can be quite different from how they actually see you  Ideal self - how you would like to be/ what you aspire to be  Looking glass self and ideal self are more dynamic because they focus on desires and the way we want to be perceived  This is what communications campaigns revolve around  Perception o The manner in which individuals receive and interpret messages  Consumers accept messages that are in line with their needs, personality, self concept, and attitudes o Selective exposure: only notice the things that interest us o Selective perception: screen out messages that conflict with our attitudes. o Selective retention: only remember the things that matter to us  Attitudes o An individual’s feelings, favourable, or unfavourable, toward an object or idea  Influences by advertising, friends, trendsetters, and opinion leaders  Present product in accordance with target audience attitudes.  Reference groups o A group of people with common interests that influence the attitudes and behaviors of its members  Schoolmates, sports teams, fraternities, sororities etc. o The desire to “fit in” affects behaviour and buying decisions  Pressure on members to conform  Family Influences o Biggest influence on beahviour within families today relates to the changing roles and responsibilities of family members  No longer can the maker of the household product assume that woman is the primary buyer, and a financial advisor cannot assume that the man makes all the investment decisions o Double Targeting  Marketing strategies that reach both genders effectively  Identifying and selecting consumer target markets o Market segmentation: large market into smaller homogeneous markets based on common needs and characteristics o Micro-segmentation: identification of very small yet profitable market segments o Demographic segmentation o Psychographic segmentation: target market according to lifestyle (AIOs, activities, interests, and opinions) o Geographic segmentation o Direct segmentation  At the level of the individual  Customized to each person  Databases, data mining Inputs for Marketing Communications Planning: Business and Organizational Buyer Behavior  Organizations exhibit more rational behavior than consumers  Business to Business Market (B2B)- market of goods and services needed to produce a product or service, promote an idea, or operate a business o Have fewer buyers  Tend to be concentrated in industrial areas in and near large cities  Business market requirements o Quality: Buyers want con
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