BUS 448 Chapter Notes -Integrated Marketing Communications, Brand Equity, Promotional Mix

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Published on 28 Nov 2011
TERMINOLOGY is highlighted in Purple
CH1. Integrated Marketing
Factors that complicate decisions:
uncertain environment
niche markets
new communication technology
emergence of global markets
changes in consumer buying behavior
Integrated Marketing Communications an emerging trend to link / connect promotional tools to
effectively communicate with their current and prospective customers. Each communication tool retains
its unique communication effect and that the combination of communication tools contributes to the
overall communication effect of the brand or organization.
Exchange as a central concept in marketing and the use of basic marketing activities to create and
sustain relationships with customers.
2 parties
something of value to one another
desire/ability to do so
way to communicate
Advertising and Promotions
important role in exchange process
informing customers of an organizations product
convincing ability of product to satisfy needs/wants
Marketing Function
examining needs/wants of consumers
developing product/service that satisfies that need
offering it at certain price
making it available through particular place / channel of distribution
developing program of promotion/communication
Marketing Mix task of marketing is to combine the following elements into a marketing program to
facilitate potential for exchange with consumers in the marketplace.
Place (distribution)
Promotion (marketing communication)
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features or attributes
corporate name / identification
brand name / identification
package design
price level
price policy
channel type
channel policy
type of intermediary or reseller
type of location/store
service level
Product a bundle of benefits signifying what the attributes can do.
functional (performance of product)
experiential (what it feels like to use product)
psychological (self-esteem / status from owning particular brand)
Product symbolism refers to what a product / brand means to consumers and what they experience in
purchasing it.
Brand Equity intangible asset of added value or goodwill that results from the favorable image,
impressions of differentiation, and/or the strength of consumer attachment to a company name, brand
name, or trademark. Provides a competitive advantage.
functional benefits: economy, protection, storage
first exposure to product
make favorable impressions
communicate information on product usage
composition and content
satisfy legal requirements
important way to communicate with consumers
Design factors: size, shape, color, lettering, contribute to appeal of package
creating a distinctive look
Price refers to what the consumer must give up to purchase a product: time, mental activity, and
behavioral effort.
Profit Impact of Marketing Strategies (PIMS) pricing and advertising strategies go together. High
relative ad expenditures should accompany premium prices, and low relative ad expenditures should be
tailored to low prices.
Distribution Channel the way the product/services are made available for purchase.
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support / services
Indirect Channels network of wholesalers (institutions that sell to other resellers) and/or retailers (sell to
final consumers)
selecting and managing intermediaries (wholesalers, distributors, brokers, retailers )
Policies CRITICAL to motivate resellers and ensure success of companyʼs marketing campaigns
service level received by consumers
Direct Channels directly sell to customers.
direct-selling programs
selling expensive / complex products
those that require extensive negotiations and sales effort, service and follow-up calls.
The Promotional Mix
Promotion coordination of all seller initiated efforts to set up channels of information and persuasion to
sell goods and services or promote an idea.
Promotional Mix basic tools an organization uses in a promotional program.
sales promotion
public relations
personal selling
Direct Marketing
Interactive media
Advertising any paid form of nonpersonal communication about an organization, product, service, or
idea by an identified sponsor.
Paid - space/time for message must be bought
nonpersonal - mass media, no opportunity for good feedback. Must consider how audience will interpret
and respond to it.
cost-effective method for communicating to large audiences
valuable tool for building company / brand equity
provide consumers with information / influence their perceptions
create favorable and unique images and associations for a brand
building a brand
flexible tool that can be used for many industries, situations, target audiences.
Sales Promotion marketing activities that provide extra value or incentives to the sales force,
distributors, or the ultimate consumer and can stimulate immediate sales.
Consumer Sales Promotion targeted to the ultimate user of a product/service and includes
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