refers to the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offers that have value for customers, clients, partners, and society at large.
New cards
2
Value
Customer's perception of functional, experimental, and psychological benefits of product of service against cost of acquiring and consuming it
New cards
3
Functional benefit
what product performs better ?
New cards
4
Experimental benefit
meaning and satisfying experience
New cards
5
Psychological benefit
how it make you feel (confident, happy)
New cards
6
Marketing Mix
Combining the controllable factors into a marketing program to facilitate the potential for exchange with consumers in the marketplace
New cards
7
The Four P's
Product: what to sell, Price: How much, Place (Distribution): Where to sell, Promotion: How to communicate- IMC
New cards
8
Meaning of IMC
A strategic business used to plan, develop, execute and evaluate coordinated measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, and so on.
New cards
9
Goal of IMC
to generate short-term financial returns and build long-term brand value
New cards
10
roles of IMC in branding
By developing,favorable,strong,unique associations in the mind of the customer
New cards
11
Advertising
any paid form of nonpersonal communication about an organization, product, service, or idea by an identified sponsor
Example what is the slogan of Coca Cola = "Real Magic”
New cards
12
Direct Marketing
communicating directly with target customers to generate a response and/or transaction
New cards
13
Interactive Media
media that allows active participation by the user
New cards
14
sales promotion
marketing activities - other than personal selling, advertising, and public relations - that stimulate consumer buying and dealer effectiveness
New cards
15
Public Relations
building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events
New cards
16
Person to Person communication
A seller attempts to assist and/or persuade prospective buyers to make a purchase or act on an idea
New cards
17
Touch Point
Every opportunity customer has to see or hear about a company and/or its brand or have an encounter or experience with it, example is yelp with their review section
New cards
18
Paid media examples
display ads, paid search, sponsorships
New cards
19
owned media examples
website, mobile site, blog, twitter account
New cards
20
earned media examples
WOM, Buzz, "Viral"
New cards
21
IMC Planning Model
Step 1: Review the Marketing Plan \n Step 2: Perform a Situation Analysis \n Step 3: Analyze the Communications Process \n Step 4: Determine the Budget \n Step 5: Develop the IMC Program \n Step 6: Monitor, Evaluate, Control
New cards
22
Internal Analysis
strengths and weaknesses
New cards
23
External Analysis
opportunities and threats
New cards
24
Marketing Objectives
the goals set for the marketing department to help the business achieve its overall objectives
New cards
25
communication objectives
specific goals related to the retail communication mix's effect on the customer's decision-making process
New cards
26
creative strategy
determines what the advertising message will say or communicate
New cards
27
media strategy
choosing the media that will bring the most effective advertising message to the targeted consumer
Studied by 1 person
