Midterm Review.docx

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 3322F/G
Professor
Tara Lee
Semester
Winter

Description
Integrated Marketing Communications (IMC) Communicate with consumer to persuade/remind them about your product The Steve Jobs Fashion Evolution 1998 to 2010  Levis 501 & black turtle neck; 1998  reposition 501 to something different Levi’s viral video  Jeans jump Levi’s ad not aired in Canada (considered provocative)  Secrets and Lies Levi’s interactive communications  Facebook Public relations, sponsorship  Oprah used toed to be huge in public relations; Levi’s Unbuttoned & Out of the Closet article in NYTimes Levi’s Unbuttoned 501 target market  16 to 21 year old male Levi’s 501 message  unrestrained; free-spirited; self-expressive IMC “Marketing Communications”: The overall goal of communications is to deliver the same message through a variety of media in order to have a synergistic impact on the target Synergistic  The whole (integrated campaign) should be greater than the sum of the individual parts IMC: The coordination of all marketing communications in a unified program that maximizes the impact on the intended target audience The Integrated Marketing Communications Mix Marketing tools you can use Advertising Aform of marketing communications designed to stimulate a positive response from a defined target market To inform, persuade, remind Direct Response Communications The delivery of a message to a target audience By direct mail, direct response television, telemarketing Interactive (Digital) Communications The placement of an advertising message on a message, or an ad delivered by email or through mobile communications devices Customer relationship management (CRM):Aprocess that enables an organization to develop an ongoing relationship with valued customers Sales Promotion An activity that provides incentives to bring about immediate response from customers, distributors, and an organization’s sales force Public Relations Aform of communications designed to gain public understanding and acceptance Event MarketingAnd Sponsorship Event Marketing: The process, planned by a sponsoring organization, or integrating a variety of communications elements with a single event theme Sponsorship: The act of financially supporting an event in return for certain advertising rights and privileges Measuring Performance – Evaluating Marketing Communications  Programs Measuring Performance – Evaluating Marketing Communications  Programs Dove Born in 1957 as a beauty soap. It is sold in more than 80 countries with more than $5 billion in sales revenue Dove is a powerful brand name  Consumers trust it and see it as honest but also as boring Unilever needed to reposition the brand to make Dove a beauty brand Need solid research and insight before the repositioning task could be undertaken Key Question: “How women’s self-esteem is affected by body image” Global survey and ethnographic research to understand the meaning of beauty and what women consider beautiful 1% consider themselves beautiful 63% strongly agree women are expected to be more attractive than previous generation 9-year-old girls are dissatisfied with their body image The RoleAnd Scope Of Marketing Research Marketing research – Amarketing function that links the consumer/customer/public to the marketer through information; the information is used to: Define marketing opportunities and problems Generate marketing strategies Evaluate marketing actions Monitor performance Provides an organization with data Helps to reduce or eliminate the uncertainty and risk associated with making business decisions Difficult to isolate one communication tool Measuring Performance – Evaluating Marketing Communications  Programs The scientific method is used to collect data that is reliable and valid Reliability – Degree of similarity of results achieved if another study was undertaken under similar circumstances Validity –Aresearch procedure’s ability to measure what it is intended to measure Marketing Research Method Quantitative research Descriptive, empirical Generalizable to lager population Surveys, observations, experiments Qualitative research Samples are small Not generalizable to lager populations Focus groups, interviews, projective tests AComparison Of QualitativeAnd Quantitative Data Qualitative data Collected from a small sample, usually in a focus-group environment Unstructured questions Questions seek attitudes, feelings, and opinions Data not always reliable because of small sample Quantitative data Measuring Performance – Evaluating Marketing Communications  Programs Collected from a large, representative sample of target market Structured questions with predetermined responses Deals with who, what, when, how many, and how often Statistically reliable, with calculated degree of error Primary Research Primary research – The collection and recording of primary data Custom designed Focuses on resolving a particular question or obtaining a specified information Primary data – Data collected to resolve a problem and recorded for the first time Secondary data is data that has already been collected for you E.g. Statistics Canada The Steps Involved In Primary Research Problem definition Objectives and hypotheses Measuring Performance – Evaluating Marketing Communications  Programs Sample design Profile of respondents Size of sample Selection procedure Data collection Survey, observation, and experiment Qualitative and quantitative data Personal, mail, telephone, or online survey Primary Research In directing the primary research, the marketing organization identifies the problem, the objectives of the study, and the hypotheses associated with it Research objective – Astatement that outlines what the marketing research is to accomplish Hypothesis – Astatement of outcomes predicted in a marketing research investigation Sample Design Steps include: Define the population Identify the sample frame Determine the type of sample Probability sample Non-probability sample Determine the sample size Sample – Arepresentative portion of an entire population that is used to obtain information about that population Population –Agroup of people with certain age, gender, or demographic characteristics Sampling frame –Alist used to access a representative sample of a population Measuring Performance – Evaluating Marketing Communications  Programs Sampling Plan Decisions Whom to survey? – Sampling unit How many? – Sample size How to select them? – Sampling procedure Some Bases For Defining The Sampling Unit Geographic area Demographics Usage Use vs. non use Use of some quantity of the product over a specified period of time Have you traveled to Europe for vacation in the past two years? Awareness Sample Design Probability sample –Asample of respondents who are known to have an equal chance of selection and are randomly selected from the sampling frame Non-probability sample –Asample of respondents who have an unknown chance of selection and are chosen because of factors such as convenience or the judgment of the researcher Probability sample can be generalized Probability Sampling Designs – Samples in which respondents are chosen by some probability technique that leads to findings that are projectable to the entire population Simple random sample – Every member of the population has a known and equal chance of being selected Measuring Performance – Evaluating Marketing Communications  Programs Systematic random sample –Amember of the population is selected at random and then every “nth” person is selected Stratified random sample – The population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group Cluster (area) sample – The population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview Non-Probability Sampling Designs – Samples that are chosen by non-probability methods that lead to findings that may not be projectable to the entire population Convenience sample – The researcher selects the most accessible population members from whom to obtain information (e.g. students in a classroom) Judgment sample – The researcher uses his or her judgment to select population members who are good sources for accurate information (e.g. experts in the relevant field of study) Quota sample – The researcher interviews a prescribed number of people in each of several categories (e.g. 5 men and 50 women) Focus Groups Aform of in-depth interview involving 6 to 12 people Fewer than 6 often lack group dynamics for a beneficial focus group session More than 12 may be too large for natural discussion Effectiveness of a focus group is a function of number and characteristics of participants Atrained moderator leads the group and asks participants to discuss a product, concepts, or topics Advantages: Richness of data, ability to study special respondents Disadvantages: Lack of generalizability, cost, can be misused (easy to see support for preconceived ideas) In-Depth Interviews One-to-one interviews More appropriate than focus groups when the topic is sensitive, embarrassing, confidential, emotionally charged More appropriate than surveys when the researcher wants to pick consumers’brains Measuring Performance – Evaluating Marketing Communications  Programs Interviewers are trained to look for not only verbal information but also nonverbal cues Quantity of information Depth of information Projective Tests Present a fairly ambiguous stimulus The respondents will indirectly reveal their own inner feelings by: Reacting to the stimulus Describing the stimulus Work association tests, sentence and story completion tests, photo sorts, consumer drawing, ThematicApperception Test (TAT) Word association tests: The respondent is asked to say the first word that comes to mind as soon as each stimulus word is presented Asentence completion test asks respondents to finish a set of incomplete sentences “Abeach vacation is…” “Taking a holiday in the mountains is…” ThematicApperception Test (TAT) TAT: Respondents are specifically asked to describe what is happening in the picture Why it is happening What the feelings of the characters in the picture are Surveys Measuring Performance – Evaluating Marketing Communications  Programs The decision on which technique to use is based on three primary factors Nature of information sought Cost and time constrains Location and habits of respondent Awritten instrument that asks consumers to respond to a predetermined set of research questions Open-ended, rating scale TheAdvantages And Disadvantages Of Various Survey Methods Personal Interview Advantages High rate of participation Visual observations possible Flexible (can include visuals) Disadvantages Higher cost due to time needed Respondents reluctant to respond to certain questions Interviewer bias possible Telephone Interview Advantages Convenient and allows control Costs less Measuring Performance – Evaluating Marketing Communications  Programs Timely responses Disadvantages Observation not possible Short questions and questionnaires Privacy concerns (bad time of day) Mail Surveys Advantages Cost efficient Large sample obtainable Relaxed environment Impersonal nature produces accurate responses Disadvantages Lack of control Potential for misinterpretation by respondent Time lag between distribution and return Low response rates Online Surveys Advantages Efficient and inexpensive Less intrusive (respondent driven) Convenient for respondent Measuring Performance – Evaluating Marketing Communications  Programs Fast response time (days) Disadvantages Immature medium compared to alternatives Limited sample frame (internet users only) Image concerns associated with spam Reliability of information suspect Observations Observing consumers to gain insight into potentially effective product, promotion, price and distribution decision Good way to study young people’s behaviours Experiments Causal research Determining whether some marketing phenomenon affects consumer behaviour Consumers are randomly assigned to receive different “treatments” and the effect of these treatments is observed Causal relationship Acauses B Field Experiment (Additional Reading #1) Control group vs. Treatment group Price (base price vs. lower price) Factorial Design (2 x 2) Field Experiment  Instead of using people in a lab, you’re using people in real life Measuring Performance – Evaluating Marketing Communications  Programs Control group  “Baseline”; no treatment Treatment group  “Experiment group”; receives certain treatment or manipulation 2 x 2 design  4 groups you need to test Before you launch a national campaign, the company wants to test consumer’s attitude Price, Message, Promotion Price: (1) $150 (2) $160 (3) $170 (4) $180 Message (1) Speed “Biz Ware lets you manage customer relationships in just minutes a day” (2) Power “Biz Ware can be expanded to handle a virtually infinite number of customer files” Promotion (1) 30-Day Trial (2) Free Gift Full Factorial Design (4 x 2 x 2) Fractional Factorial Design Measuring Performance – Evaluating Marketing Communications  Programs Combining QualitativeAnd Quantitative Research Findings Amajor insurance company conducted Survey (Quantitative): To rank the importance of 50 service characteristics Focus group (Qualitative): To define and expound on the top 10 characteristics Meanings of “agent responds quickly” Data TransferAnd Processing Editing – The review of questionnaires for consistency and completeness Data Transfer – The transfer of answers from the questionnaire to the computer Tabulation – The process of counting various responses for each question Frequency distributions Cross-tabulations DataAnalysisAnd Interpretation Data analysis – The evaluation of responses question by question; gives meaning to the data Data interpretation – The relating of accumulated data to the problem under review and to the objectives and hypotheses of the research study Recommendations And Implementation Findings are presented in a written report format Includes recommendations for certain courses of action May also include an oral presentation Measuring Performance – Evaluating Marketing Communications  Programs Measuring And EvaluatingAdvertising: Client Evaluation One of the first steps is client evaluation of the agency creative ideas Qualitative assessment to determine if the message conforms to the strategic direction of the company (managerial approach) Does the ad communicate the creative objectives and positioning strategy? Does the ad mislead or misrepresent the intent of the message? Is the ad memorable? Is the brand recognition effective? Should the advertisement be researched Measuring And EvaluatingAdvertising: External Research Techniques And Procedures Pre-testing – The evaluation of commercial messages prior to final production to determine the strengths and weaknesses of the communications Post-testing – The evaluation and measurement of a message’s effectiveness during or after the message has run Measuring And EvaluatingAdvertising: RecognitionAnd Recall Testing Recognition test –Atest that measures a target audience’s awareness of a brand, copy, or of the advertisement itself after the audience has been exposed to the message Recall test –Atest that measures an ad’s impact by asking respondents to recall specific elements of the advertisement Aided and unaided Recognition And Recall Testing Two of the most common methods: Starch readership test -Apost-test recognition procedure that measures readers’recall of an advertisement (noted), their ability to identify the sponsor (associated), and whether they read more than half of the written material (read most) Measuring Performance – Evaluating Marketing Communications  Programs Day-after recall (DAR) test – Research conducted the day following the respondents’exposure to a message to determine the degree of recognition and recall of the advertisement, the brand, and the selling message Total related recall measures intrusiveness and impact Related recall – Percentage who claim to remember and can substantiate claim Measuring And EvaluatingAdvertising: Option-Measure Testing Measures attitudinal components Opinion-measure testing – Yields information about the effect of a commercial message on respondents’brand name recall, interest in the brand, and purchase intentions Forced exposure test Measuring And EvaluatingAdvertising: Physiological-Response Testing Eye movement-camera test – Uses a hidden camera to track eye movement to gauge the point of immediate contact in an advertisement, how the reader scans the ad, and the amount of time spent reading Pupilometer test –Adevice that measures pupil dilation of a person’s eye when reading; it measures emotional responses to an advertisement Voice-pitch analysis test – Uses a recording of a person’s voice response to measure change in voice pitch caused by emotional responses to the communications Consumer Neuroscience: Neuromarketing Using functional magnetic resonance imaging (fMRI) and electroencephalography (EEG) to track electrical activity and blood flow in consumers’brains to learn what part of the brain is telling them to do it Coke vs. Pepsi 67 people had their brains scanned while being given a blind taste test of Coca-Cola and Pepsi Half the subjects chose Pepsi, since Pepsi tended to produce a stronger response than Coke in their brain’s prefrontal cortex, a region thought to process feelings of reward When the subjects were told they were drinking Coke, three-quarters said that Coke tasted better (brain areas related to high-level cognitive powers and memory activated), indicating that the consumers were thinking about Coke and relating it to memories and other impressions Measuring Performance – Evaluating Marketing Communications  Programs Consumer Neuroscience: Neuromarketing Criticism: Cost, discomfort, small sample sizes Ethical issues Meanings of brain activities? Measuring And Evaluating: Sales Promotions Promotions are intended to increase sales in the short-term and brand loyalty in the long term Specific sales promotion measures include Redemption rates on coupon offers Numbers of entries to contests and other mail-in offers (rebates) Effective use of point-of-purchase material Measuring And Evaluating: Direct ResponseAnd The Internet Toll-free number inquiries Response card returns Internet evaluation includes Ad clicks Ad views (hits) Visitors and visits Measuring Performance – Evaluating Marketing Communications  Programs Site “stickiness” Online surveys Measuring And Evaluating: Public Relations Count clippings Clipping service – An organization that scans the print and broadcast media in search of a company’s or brand’s name Number of impressions based on circulation of medium Advertising equivalency –Amathematical model that equates public relations to an advertising value Measuring And Evaluating: Event MarketingAnd Sponsorships Difficulty to evaluate on a quantitative basis Common measures include Ability to effectively reach the target market Awareness created and associated with the event Image enhancement or perceptions due to participation Impact on brand sales Measuring The Integrated Marketing Communication Effort Total effort of integrated marketing communication is measured by Market share Productivity Sales and profitability Customer satisfaction levels Social responsibility Marketing Strategy And The Marketing Mix Marketing StrategyAnd The Marketing Mix Marketing Strategy And The Marketing Mix Consumers stand in the centre. The goal is to create value for customers and build profitable customer relationships. Next comes marketing strategy – the marketing logic by which the company hopes to create this customer value and achieve these profitable relationships. The company decides which customers it will serve (segmentation and targeting) and how (differentiation and positioning). It identifies the total market, then divides it into smaller segments, selects the most promising segments, and focuses on serving and satisfying the customers in these segments. Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control – product, price, place, and promotion (the four Ps). To find the best marketing strategy and mix, the company engages in marketing analysis, planning, implementation, and control. Through these activities, the company watches and adapts to the actors and forces in the marketing environment Strategic Planning (Corporate Strategy) Strategic planning is the process of determining objectives and identifying strategies and execution to help achieve objectives Objective  Statements of what is to be accomplished Strategies  Statements that outline how objectives will be achieved Execution Action-oriented details Strategic Planning Process Marketing Strategy And The Marketing Mix Integration of a strategic plan will help achieve short-term and long-term objectives The Corporate Plan Astrategic plan formulated at the executive level of an organization to guide the development of functional plans Includes: Amission statement Corporate objectives Corporate strategies Mission Statement Astatement of an organization’s purpose and operating philosophy that is oriented around Customer Marketing Competition Long-term results Market-oriented mission statement defines the business in terms of satisfying basic customer needs Mission statement should be market oriented rather than product oriented Traditionally, companies have defined their businesses in product terms (we manufacture furniture) or in technological terms (we are chemical-processing firms). But these products and technologies become outdated. Thus mission statement should be market oriented Corporate Objectives Statements of a company’s overall goals; used to evaluate the (in)effectiveness of a company’s strategic plan Marketing Strategy And The Marketing Mix Examples include: Sales revenues, market share, return on investment, and social responsibility Marketing Planning Market Background External influences SWOT analysis Market analysis Competitor analysis Target market analysis Product (brand) analysis The Marketing Environment The marketing environment includes the factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers Microenvironment Microenvironment consists of the factors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics Marketing Strategy And The Marketing Mix Macroenvironment Macroenvironment consists of the larger societal forces that affect the microenvironment such as demographic, economic, natural, technological, political, and cultural forces Target MarketAnalysis Consumer data Consumer behaviour Product (Brand)Analysis Sales volume trends Market share trends Marketing Strategy And The Marketing Mix Distribution Marketing communications New product activity Product Life-Cycle Strategies Product development  Sales are zero and investment costs mount Introduction  Slow sales growth and profits are nonexistent Growth  Rapid market acceptance and increasing profits Maturity  Slowdown in sales growth and profits level off or decline Decline  Sales fall off and profits
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