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

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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 satis es that need, offering it at certain price, making it available through particular place / channel of distribution, developing program of promotion/communication.