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BUS 343 (122)
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Chapter 12

Marketing: Real People, Real Decision (3rd Edition): Chapter 12

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Department
Business Administration
Course
BUS 343
Professor
Jason Ho
Semester
Summer

Description
Chapter 12: Integrated Marketing Communications Tailoring Marketing Communication to Customers To reach consumers, it is essential to get to know them and to talk their language Promotion the coordination of a marketers communication efforts to influence attitudes or behaviour toward a product or service o Implies one way (asymmetrical) conversation from marketer to customer Consumers expect to enter into a dialogue with an organization to be informed, not manipulated, and to be assisted in making decisions, not sold Marketing Communications informing consumers and customer about the relative value of products, and developing trust and other relational bonds that facilitate ongoing exchange relationships Two way (symmetrical) approaches to communication strategies help build better relationships o More balance in relationship, consequently greater commitment to brands and companies on the part of consumers and customers that usually results in greater long-term profitability Communication is intended to accomplish specific goals o Inform consumers about new goods and services, and where they can be obtained o Remind consumers to continue using products o Persuade consumers to choose one product over others o Create complex brand images and identifies in the minds of consumers o Build relationships with consumers Integrated Marketing Communications Coordinating Communication Messages Integrated marketing communications (IMC) IMC is the practice of unifying all marketing communication tools and corporate and brand message to communication in a consistent way to and with stakeholder audiences Rated most important factor in marketing strategy Recognizes that customers absorb information about a product or an organization from many sources Takes the recipients perspective then ensure that each of these exposures communicates the desired message and elicits the intended response www.notesolution.com IMC includes sources of planned and unplanned messages as well as marketing mix IMC approach, marketers plan and then execute marketing communication programs that create and maintain long term relationships with customers by satisfying customer needs Successful IMC approach requires company-wide commitment from CEO down to putting the customer first and communicating interactively Consumers are less likely to be influenced by any single marketer generated message o Technology gives customers the ability to communicate among themselves about products and companies and even to view ads on the internet and TV at their leisure Characteristics of IMC IMC creates a Single Unified Voice Consumers may be confused through different messages sent about a same product IMC program focus on all communication elements creating a single and powerful brand personality IMC also considers less obvious forms of communication o Way company personnel talk on the phone o Uniform etc. IMC begins with the Customer Customer is primary focus, not the goals of the company or the creative genius of the communication specialist Goal of IMC is to provide the information customer want when they want it, where they want it, and in the amount needed IMC Seeks to Develop Relationships with Customer Marketers must continuously communicate with each customer or else risk losing to competition IMC firms measure their success by share of customer, not share of market and by the lifetime value of a customer Prioritizing customers so that greater resources go to communicating with high-value buyers or clients Often rely on CRM programs to deliver unique message to each customer that build relationships IMC Involves Two-way Communication www.notesolution.com Impersonal communication in s highly ineffective at building long-term relationships with customers Marketers seek first to learn what information customers have and what additional information they want and then develop communication tactics that let them share information with their customers IMC Focuses on Stakeholders, Not Just Customers Consumers and prospective customers dont learn a company and its products just from the firm, also from other stakeholders such as government, mass media, neighbour etc. Significantly influence customers attitudes and behaviours IMC Generates a Continuous Stream of Communication Tactics using many different elements of the communication Provide continuous stream of communication ensures that customers receive information on a regular basis and in the right amount IMC Measures results based on Actual Feedback Suggest only adequate measure of a promotional campaigns effectiveness is to evaluate the marketing ROI Most firms are seeking measure of accountability for their communication budgets and demand results IMC and Database Marketing Key characteristic of IMC is to use database in building relationships with consumers Database marketing the creation of an ongoing relationship with a set of customers who have an identifiable interest in a good or service and whose responses to promotional efforts become part of future communication attempts Database marketing o Can identify different types of users (heavy or light) o Determine what type of customer accounts for their greatest sales and their greatest profit o Create one to one communication with their target markets Database marketing is interactive: o Interactive marketing a promotion practice in which customized marketing communications elicit a measurable response from individual receives Database marketing builds relationships o The best predictor of who will buy a product is knowing who bought it in the past o Can tailor promotional strategies to each customer Database marketing locates new customer o Can create new customers by focusing communications on likely prospects with characteristics similar to current users Database marketing stimulates cross selling www.notesolution.com o Easy to offer related products to their customers o Interest in one product category boosts the odds that the customer is a good candidate for similar items Database marketing is measurable o Know exactly who received a specific message, so they are able to measure the effectiveness of each communication Responses are trackable o Marketer can assess the proportion of message recipients who responded compared the effectiveness of different messages, and compile a history of which consumers are most likely to respond over time Communication Communication strategy is based on a solid understanding of the target market, the decision environment, and marketing concepts, principles and theory The Communication Model Consumer is the focal point Communication model the elements necessary for meaning to be transferred from a sender to a receiver Encoding by the Marketer One thing for marketers to create an idea about a product in their mind and quite another to express that idea so that other people get the same picture Encoding the process of translating a idea into a form of communication that will convey meaning The Source Source an organization or individual that sends a message Must choose a real person, actor or model, or create character who will represent the source The Message Message the communication in physical form that goes from a sender to a receiver Message should ideally accomplish four objectives o Get attention o Hold interest o Create desire o And production action Known as the AIDA model o The communication goals of attention, interest, desire and action www.notesolution.com
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