Mktg2000 Integrated Marketing Communications - Module 1

Flashcards covering the fundamentals of Integrated Marketing Communications (IMC), including definitions, advertising expenditure statistics for 2021, the promotional mix, the PESO model, and the planning process.

Integrated Marketing Communications (IMC)

A strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects, employees and other relevant external and internal audiences.

Goal of IMC

To generate short-term financial returns and build long-term brand value.

Multichannel

A channel integration approach where all channels are available to the consumer but are not integrated.

Omnichannel

A channel integration approach where all channels are available to the consumer and they are connected.

Total online advertising market financial year 2021

$$\$11.4\,\text{billion}$$

Online advertising market growth financial year 2021 vs 2020

$$24.2\%$$

Mobile advertising expenditure financial year 2021

$$\$6.1\,\text{billion}$$

Video advertising growth financial year 2021 vs 2020

$$38.8\%$$

Advertising

A paid form(s) of non-personal communication by an identified sponsor about an organization, product, service or idea.

Direct Marketing

A strategy of distributing communications or marketing materials to target customers directly, including database management, direct selling, and telemarketing.

Direct-response advertising

A form of direct marketing that encourages the consumer to purchase directly from the manufacturer.

PESO Model

A marketing communications framework consisting of Paid, Earned, Shared, and Owned media.

Sales Promotion

Marketing activities that provide extra value or incentive to the sales force, distributors, or the ultimate consumer and stimulate immediate sales.

Consumer-oriented Sales Promotion

Sales promotion techniques for end-users such as coupons, samples, premiums, contests, refunds, bonus packs, and loyalty programs.

Trade-oriented Sales Promotion

Sales promotion techniques for resellers such as trade allowances, POP displays, training programs, trade shows, and co-op advertising.

Public Relations/Publicity

Evaluates public attitudes and identifies policies/procedures with public interest to earn positive public understanding and acceptance.

Personal Selling

Person-to-person (or Robot/AI) communication where a seller attempts to assist or persuade prospective buyers to make a purchase.

IMC Planning Process Requirements

The development of an IMC plan requires planning, executing, evaluating, and controlling.

Market Segmentation

The process of dividing up a total market into distinct groups that have common needs and will respond similarly to a marketing action.

Positioning

The image of a product or brand in consumers’ minds relative to competitors.