COMMERCE 4MA3 Chapter Notes - Chapter 1: Integrated Marketing Communications, Brand Equity, Marketing Mix
16 Jan 2019
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Document Summary
Lo1: describe the importance of marketing communication within the marketing mix. Marketing: the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Exchange: a central concept in marketing: the use of key marketing activities to create and sustain relationships with customers. Marketing mix: the 4 ps - product, price, place (distribution), and promotion (marketing communication) Main purpose of marketing function is to combine these elements into a marketing program. Shows how marketing messages can communicate the product type, the importance of salient attributes or benefits, and identity of the brand or organization, in order to assist with brand equity development. Used to encapsulate the essence of the brand succinctly by connecting that the tagline is relevant. Closely related with the brand by giving it a distinctive look, a focal point of marketing communication message.
