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Chapter 12

Chapter 12.docx

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Department
Marketing
Course
MKTG 2030
Professor
Neil Smith
Semester
Summer

Description
Chapter 12: Integrated Marketing Communications Tailoring Marketing Communications to Customers - Essential to get to know customers and talk their language - Promotion: the coordination of a marketers communication efforts to influence attitudes or behaviour toward a product or service o Promotions indicate one-way communication whereas todays technology warrants the need for two-way communication between consumer and organization - Marketing communications: informing consumers and customers about the relative value of products, and developing trust and other relational bonds that facilitate ongoing exchange relationships (two-way strategies) o Goals: Inform consumers, Remind consumers, Persuade consumers, Create image, and Build relationships Integrated Marketing Communications Coordinating Communications Messages - Integrated marketing communications: 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 o Recognizes that customers absorb information about a product or an organization from many sources, not all of which are formal communication messages or even under the markets control o Takes recipients perspective and ensures that every opportunity in which they information about the good communicates the desired message and elicits the intended response o Sources of communication can be planned or unplanned (all marketing decisions and contact points send messages to consumers or business customers) All impact the pre-purchase, purchase, and post-purchase stages of the process o Can assign relatively more importance to aspects of communication other than advertising o IMC approach execute marketing communication programs that create and maintain long term relationship with customers by satisfying their needs Requires upper level management view other aspects of the marketing mix (packaging and pricing) part of the communication strategy Requires company-wide commitment o IMC is important because consumers face over 1400 msgs a day and small firms can use technology to communicate themselves to the consumer market (internet and TV and magazines) Characteristics of IMC - IMC creates a single unified voice o Present unified selling proposition by in the marketplace by eliminating duplication and conflicting communication o Focus on all communication elements o One-voice/one-message - IMC begins with the customer o Customer is the primary focus of communication not the goals of the company o Provide the information customers want when they want it, where they want it, and in the amount needed - IMC Seeks to Develop Relationships with Customers o Easier and less expensive to keep an existing customer than to attract a new one o Also measure success y share of customer, not share of market, and y the lifetime value of a customer o Often rely on CRM programs - IMC involves two-way communication o Marketers seek first to learn what information customers have and what information they want and then develop communication tactics that let them share information with their customers - IMC focuses on stakeholders, not just customers o Can also affect customer attitudes and behaviours - IMC generates a continuous stream of communication o Tactics using many different elements of the communication program are included in IMC plan (bombard with messages constantly) - IMC measures results based on actual feedback o Evaluate return on investment on communication dollars (hard to measure) IMC and Database Marketing - Development of customers database allows an organization to learn about the preferences of its customers, fine-tune its offerings, and build an ongoing relationship with its market - 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 - Database marketing is interactive: interactive marketing o Promotion practice in which customized marketing communications elicit a measurable response from individual receivers - Database marketing builds relationships o Can keep in touch with customers and reward loyal customers - Stimulates cross-selling o Can find it easy to offer related products to customers - Is measurable o Marketers know who received a specific message, so they are able to measure the effectiveness of each communication- Responses are trackable o Can assess the proportion of message recipients who responded, compare the effectiveness of different messages ,and compile a history of which consumers are most likely respond over time Communication The Communication Model - Elements necessary for meaning to be transferred from a sender to a receiver (source, message, medium, and a receiver) - Encoding by the marketer o Encoding: process of translating an idea into a form of communication that will convey the desired meaning - The Source o The organization or individual sending the message (real person, actor/model, or character) - The Message o Message: the actual communication sent from receiver to a receiver (should get attention, hold interest, create desire, and produce action)AIDA model (Can have verbal and non- verbal elements) - The Medium o Medium: a communication vehicle thorugh which a message is transmitte
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