ADV 305 Chapter Notes - Chapter 4: Market Segmentation, Target Market, Psychographic
Document Summary
Imc planning process: 1) communications research, 2) target market, 3) product positioning, 4) objectives, 5) budget designed to achieve the communications objectives keeping in mind the. Imc components: 6) imc components, communications research, process begins with research, product specific research. Involves identifying key product characteristics that become selling points: product benefits, customer oriented research, assists marketers in identifying the context of a products use, target market research. Identifies who will be the recipient of the planned communications campaign. Innovators: thinkers, achievers, experiencers, believers, strivers, makers, survivors, segments based on generations, relies on the common experiences and events that create bonds between people who are the same age, segmentation by geographic area. Companies raise or lower expenditure to match those of the competition. Found in highly competitive markets: drawbacks: marketing share can still be lost, (cid:862)(cid:863)what we (cid:272)an afford(cid:863) (cid:271)udget sets the (cid:373)arketi(cid:374)g allot(cid:373)e(cid:374)t after all of the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s other budgets have been established or while determining other budgets.
