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Chapter 14

Marketing Chapter 14 Notes.docx

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Department
Marketing
Course
MKT 100
Professor
Laila Rohani
Semester
Winter

Description
Marketing: MKT100 Chapter 14 Notes Ch. 14: Integrated Marketing Communications • Integrated Marketing Communications represents the promotion dimension of the four P’s and encompasses a variety of communication disciplines – general advertising, personal selling, sales promotion, public relations, direct marketing and electronic media – in combination to provide clarity, consistency, and maximum communicative impact. • IMC programs regard each of the firm’s marketing communications elements as part of a whole, each of which provides a different means of connecting with the target audience. • The 3 components to an IMC strategy are: the consumer or target market, the channels or vehicles of through which the message is communicated, and the evaluation of results Communicating with Consumers The Communication Process • The sender is the firms from which an IMC message originates; the sender must be clearly identified to the intended audience • Deceptive advertising is a representation, omission, act, or practice in an advertisement that is likely to mislead consumers acting reasonably under the circumstances. • The transmitter us an agent or intermediary with which the sender work to develop the marketing communications; for example, a firm’s creative department or an advertising agency • Encoding is the process of converting the sender’s ideas into a message, which could be verbal, visual or both. • The communication channel is the medium – print, broadcast, the Internet – that carries the message • The receiver is the person who reads, hers, or sees and processes the information contained in the message or advertisement • Decoding refers to the process by which the receiver interprets the sender’s message • Noise is any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; a problem for all communication channels • The feedback loop allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly How Consumers Perceive Communication • Each receiver decodes a message in their own way, which is not necessarily the way the sender intended • Different media communicate in different ways, so marketers make adjustments to their messages and media depending on whether they want to communicate with suppliers, shareholders, customers or the general public. Integrated Marketing Communications Tools Advertising • A paid form of communication from an identifiable source, delivered through communication channel, and designed to persuade the receiver to take some action, now or in the future • Mass advertising can entice consumers into a conversation with marketers Personal Selling • The two way flow of communication between a buyer and a seller that is designed to influence the buyer’s purchase decision • It can take place in carious settings such as face to face, video teleconferencing, on the telephone, or over the Internet • The cost of communicating directly with a potential customer is quite high compared to other forms of promotion, but is the best and most efficient way Sales Promotion • Special incentives or excitement-building programs that encourage the purchase of a product or service, such as coupons, rebates, contests, free samples, and point-of- purchase displays • Many of these are designed to build short-term sales, while others are have become components of CRM programs as means to build customer loyalty Direct Marketing • Marketing that communicates directly with target customers to generate a response or transaction • It includes offline forms such as direct mail, direct response TV commercials (infomercials), catalogues and kiosks. Online forms include email, podcasts and cellphones • Direct marketing has four defining characteristics: it is targeted, motivates an action, is measureable and can provide information for the development of a marketing database • Direct mail and email are a targeted form of communication distributed a prospective customer’s mailbox or inbox • Catalogues are important for companies with no bricks-and-mortar locations • Direct response TV (DRTV) are TV commercials or infomercials with strong call to action Public Relations • Public relations (PR) is the organizational function that manages the firm’s communications to achieve a variety of objectives, including building and maintaining a positive image, handling or heading off unfavourable stories or events, and maintaining positive relationships with the media • Cause-related marketing is commercial activity in which businesses and charities form a partnership to market an image, product, or service for their mutual benefit; a type of promotional campaign • Event sponsorship is a popular PR tool; occurs when corporations support various activities (financially or otherwise), usually in the cultural or sports an entertainment sectors Electronic Media • Tools ranging from simple website content to far more interactive features such as corporate blogs, online games, text messaging, social media, and mobile apps. • Websites are used to build brand image and educate customers about their products or services and where they can be purchased • A blog (weblog or Web log) is a web page that contains periodic posts; corporate blogs are a new form of marketing communicati
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