MKTG 2080 Chapter 17 McGraw Hill Connect

integrate marketing communications (IMC)

- represents the promotion dimension of the four Ps; 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

what are the three elements of the IMC?

- the consumer

- the communication channel

- the results

the sender

the firm from which an IMC message originates; the sender must be clearly identified to the intended audience

the transmitter

an agent or intermediary with which the sender works to develop the marketing communications

ex. firm's creative department or agency

encoding

converting the sender's ideas into a message (verbal, visual, or both)

consumers must recieve ________, __________ information

consistent; comprehensible

the communications channel

the medium—print, broadcast, the Internet—that carries the message

ex. ads in movies

the receiver

the person who reads, hears, or sees and processes the information contained in the message or advertisement

decoding

the process by which the receiver interprets the sender's 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

feedback loop

wallows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly

what does the sender have little to no control over?

the radically different meanings consumers interpret through the message

depending on whether they want to communicate with suppliers, shareholders, customers, the general public, or specific segments of those groups, marketers make adjustments to their ______ & ______

messages; media

the Aida Model

Awareness -> Interest -> Desire -> Action

- also known as the "think, feel, do" model

brand awareness

a potential customer's ability to recognize or recall that the brand name is a particular type of retailer or product/service

aided recall

an awareness metric that occurs when consumers recognize a name (e.g., of a brand) that has been presented to them

top-of-mind awareness

- an awareness metric that occurs when consumers mention a specific brand when asked about a product or service

- usually from their evoked set

interest

occurs once the consumer is aware that the company or product exists

desire

occurs when the consumer mindset moves from "I like it" to "I want it"

action

goal -> drive receiver this

ex. good deals = minimum risk

the lagged effect

a delayed response to a marketing communication campaign

advances in tech =

new and traditional media channel options

channels can be viewed on two axes

- passive & interactive

- offline & online

advertising

The placement of announcements and persuasive messages purchased in any form of mass media by businesses who seek to inform and/or persuade members of a target market about their products, services, organizations, or ideas

public relations (PR)

the organizational function that manages the firm's communications to achieve a variety of objectives, including building and maintaining a positive image, handling or heading off unfavorable stories or events, and maintaining positive relationships with the media

ex. free samples, contests, sweepstakes, etc.

personal selling

- the two-way flow of communication between a buyer and a seller that is designed to influence the buyer's purchase decision

- sales reps adds significant value

direct marketing

marketing that communicates directly with target customers to generate a response or transaction

increase of customer databases =

rapid growth of direct marketing

mobile marketing

marketing through wireless handheld devices (such as smartphones and tablets)

online marketing consists of....

- websites

- blogs

- social media

benefits of websites

- build brand image

- educate customers on products

- community building

- online product reviews = increase customer loyalty and competitive advantage

benefits of blogs

- communicate trends

- announce special events

- positive word of mouth

- connect customer by forming a community

- allows company to respond directly to customer complaints

- encourage customers to develop a long term relationship with the company

social media

the online and mobile technologies that distribute content to facilitate interpersonal interactions

what are the big 3 social media platforms?

YouTube, Facebook, and Instagram

benefit of social media

helps facilitate consumer decision process by encouraging need recognition, info search, alternative evaluation, purchase, and post-purchase reviews

list short term goals

- general inquiries

- increased awareness

- prompting trial

list long term goals

- increased sales

- increased market share

- increased loyalty

objective-and-task method

- determines the budget required to undertake specific tasks to accomplish communication objectives

- which media best reach the target market and how much will it cost?

rule-of-thumb methods

budgeting methods that base the IMC budget on either the firm's share of the market in relation to competition, a fixed percentage of forecasted sales, or what is left after other operating costs and forecasted sales have been budgeted

what are the rule-of-thumb methods

- competitive parity

- percentage of sales

- available budget

competitive parity

the communication budget is set so that the firm's share of communication expenses equals its share of the market

percentage-of-sales

the communication budget is a fixed percentage of forecasted sales

available budget

Marketers forecast their sales and expenses, excluding communication, during the budgeting period

what are the components of traditional media?

- frequency

- reach

- gross rating points (GRP)

frequency

how often the audience is exposed to a communication within a specified period of time

reach

the percentage of the target population exposed to a specific marketing communication, such as advertisement, at least once

gross rating points (GRP)

reach x frequency

web-tracking software

measures how much time viewers spend on particular web pages, the number of pages they view, how many times users click banner ads, which website they came from, and so on

social shopping

the use of the internet to communicate about product preferences with other shoppers

search engine marketing (SEM)

an activity used in online searches to increase the visibility of a firm by using paid searches to appear higher up in search results

impressions

the number of times an advertisement appears in front of the user

click-through-rate (CTR)

the number of times a user clicks on an online ad divided by the number of impressions

relevance

describes how useful an ad message is to the consumer doing the search

return on marketing investment (ROMI)

the amount of profit divided by the value of the investment. In the case of an advertisement, the ROI is (the sales revenue generated by the ad - the ad's cost) / the ad's cost

to evaluate the IMC program...

compare the results of the program with the objectives