Textbook Notes (363,475)
Australia (488)
Marketing (18)
MKC1200 (16)
Chapter 15

MKC1200 - Chapter 15 (week 10 and 11).docx

3 Pages
Unlock Document

Monash University
Dr Maya Mandery

COMMUNICATING CUSTOMER VALUE: IMC TOOLS PROMOTION MIX – it is a specific blend of promotional tools that company uses to persuasively communicate value and build profitable relationships. ADVERTISING – Any paid form of non-personal presentation and promotion of ideas, products or services by an identified sponsor. It is done through newspapers, magazines, television, radio, internet, billboards etc. PERSONAL SELLING – personal presentation by the company’s sales force to increase sales and build customer relationships. It is done through sales presentations, trade shows and incentive programs. PUBLIC RELATIONS – Any media activity that marketers use to build and maintain a positive company image with their customers, the press and society. Any unpaid form of non-personal presentation and promotion of ideas, products or services by an unidentified sponsor. It is done through sponsorships, press releases, special events and web pages. DIRECT MARKETING – direct connections with carefully targeted individuals to both get an immediate response and build long lasting customer relationships. It is done through telephone marketing, catalogues, kiosks, mobile marketing. SALES PROMOTION – short term incentives to encourage purchase or sale of products or services. It is done through coupons, displays, demonstrations and most importantly discounts. These along with the entire marketing mix seek to communicate value to the target market and aim to build lasting, profitable relationships. INTEGRATED MARKETING COMMUNICATONS (IMC) – it is the concept of a company that is carefully integrating and communicating the online and offline communication channels to deliver a clear, consistent and compelling message to the target market about the organisation and its products. STEPS IN THE IMC 1) Identify the target audience – choosing the target market is very important as it determines the whole communication strategy. The who, what, when, why and how of the communication must perfectly match the target market’s needs. 2) Determine the communication objective – depending on where the product is in its life cycle determines the buyer readiness stages and determines how the message should be shaped a) Awareness – this is when the product is still new to the market and the customers don’t know anything more about the product other than it exists. b) Knowledge – once the buyers know that there exists a product, the marketers much provide additional information about the product so they could like the product. c) Liking – the marketer must determine whether the customer likes or dislikes the product and accordingly make amendments d) Preference – if the customer like the product, but not prefer it to a competitor’s product. The aim of the marketer should be to build preference. e) Conviction – if the customer prefers the product along with the competitors product, a little push is required to ensure that the customers develops an intention to buy it f) Purchase – if the consumers have the conviction to purchase the product then all the marketers need to do is provide a final push for the customers to make sure they purchase the product. 3) Design a message – the message must be able to get Attention, hold Interest arouse Desire and obtain Action a) Message content – the content of the message needs to be meaningful (the message must have some meaning and relevance), believable (the message conveyed must have some base to it so it will be believed by consumers) and distinctive (should have a benefit that consumers want, mentioning the greatest benefit of a product is not helpful if that benefit is not popular). There are three ways to appeal to a customer a) Rational ap
More Less

Related notes for MKC1200

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.