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Chapter 15

Marketing - Chapter 15.docx

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Department
Business
Course
BU352
Professor
Dave Ashberry
Semester
Fall

Description
Chapter 15: Integrated Marketing Communications IMC – Represents the promotion dimension of the 4 P’s; 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 firms marketing elements as part of a whole, each of which offers a different means to connect with its target audience.  Integration of elements provide the firm with the best means to reach the target audience with the desired message, and it enhances the value of the story by offering a clear and consistent message  Three components of any IMC strategy include the consumer or target market, the channels or vehicles through which the message is communicated, and the evaluation of results of communication Communicating With Consumers Communication Process  Sender – The firm from which the IMC message originates; the sender must be clearly identified to the intended audience  Transmitter- An agent or intermediary with which the sender works to develop the marketing communications; for example, a firms creative department or an advertising agency  Encoding- The process of converting the senders ideas into a message, which could be verbal, visual, or both o Deceptive advertising – A representation, omission, act or practice in advertisement that is likely to mislead consumers acting reasonably under the circumstances  Communication channel – The medium; print, broadcasts, the internet or etc. that carries the message  The Receiver – The person who reads, hears or sees the information contained in the message or advertisement o Decoding – the process by which the receiver interprets the senders message.  Noise – 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 o If there is a difference between what the sender intends to communicate and what the receivers hears, it is usually due to noise  Feedback Loop – Allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly o Feedback can take many forms – customers purchase, complaint or compliment etc. How Consumers Perceive Communication  Receivers Decode Messages Differently – Each receiver decodes message in their own way. different people shown the same message will often take radically different meanings  Senders Adjust Messages According to the Medium and Receivers Traits – Different media communicate very different messages. Marketers adjust their messages and media depending on whether they want to communicate with customers, suppliers, general public etc. Integrated Marketing Communication Tools – firm must deliver the right message to the right audience, through the right media. Advances in technology have led to variety to new advertising platforms such as SMS, satellite and internet radio, brand-sponsored websites etc.  Advertising – A paid form of communication form an identifiable source, delivered through a communication channel and designed to persuade the receiver to take some action now or in the future o Extremely effective for creating awareness of a product and generating interest o Since 90’s total expenditure on advertisement has decreased to support increases in other forms of sales promotions such as direct marketing and PR  Personal Selling – The two way flow of communication between a buyer and seller that is designed to influence the buyers purchase decision o Take place in various settings – Face to face, video teleconferencing, telemarketing etc. o Represents important component of B2B marketing campaigns o Costly but most effective  Sales Promotions – special incentives or programs that encourage the purchase of a product or service, such as coupon, rebates, contests, free samples, and point of purchase displays o Typically designed for use in conjunction with other advertising programs  Direct Response Marketing – Sales and promotional techniques that deliver marketing communications to individual prospective consumers. o Telephone, mail, infomercials, catalogues, internet, SMS, podcasts etc. o Allows for greater personalization of the message compared to mass marketing o Marketers use customer databases which help them understand their consumers purchase decisions, so they can focus their direct marketing efforts  Public Relations- The organizational function that manages the firms 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 o Supports other promotional efforts by generating “free” media attention o PR has become more powerful as consumers have become increasingly sceptical of marketing claims made in other media o Since they don’t pay for the message PR is essentially the free placement of the firms message in the media  Cause Related Marketing – Commercial activity in which business and charities form a partnership to market an image, a product, or a service for their mutual benefit; type of promotional campaign – I.E cancer prevention initiatives  Event Sponsorship – When companies financially or otherwise support various activities, usually in the cultural, sports and entertainment sectors o Refer to 15.3 for various elements of PR tool kit.  Electronic Media – Tools including website content, corporate blogs, games, text messaging and social media o Corporate Blog – a webpage that contains periodic posts; corporate blogs are new form of marketing communications  Well received blog can create positive word of mouth, customer loyalty, valuable feedback, and tangible economic results. o Online games – Way to reach younger consumers; short, online interactive games that provide information or are related to a product or services elements. o Text Messaging – SMS – 94% of SMS marketing messages are read, 23% are forwarded, and 8 percent are actually replied too o Social Media – broad spectrum of online communities (Facebook, Myspace etc.). More transparency and honesty and because consumers share so much personal info the communications can be tailored Steps in Planning IMC Campaign 1. Identify Target Audience – Success depends on how well advertiser can identify market. Conduct research to identify target audience, then use info to set tone for the advertising program and select media to be used to deliver message 2. Set Objectives – Need to understand desired outcome before beginning. Can be short-term or long-term objectives. Objectives should be derived form the overall objectives of the marketing program.  Advertising Plan – A section of the firms overall marketing plan that explicitly outlines the objectives of the advertising campaign, how they might be accomplished, and how the firm can determine its success.  Buyer Readiness Stages (15.5A) – At each stage consumers need info to make judgments which he
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