UNit 3 class 1

Promotion Mix- Marketing Communications Mix

Blend of promotion tools that a company uses that persuasively communicate customer value and build relationship

What tools are a company using that persuasively communicate customer value and build relationship?

1. Advertising

2. Sales Promotion

3. Personal selling 

4. PR

5. Content Marketing

Paid non personal identified sponsor

Advertising

Short term incentive to in courage a purchase

Sales Promotion

Personal presentation by the firms sales force for the purpose of engaging customers, building sales, and building customer relationships

Personal Selling

Building good relationships with the companies various publics by obtaining favorable publicity, building a good corporate image, and creating favorable content

PR

Focuses on creating, inspiring, and sharing valuable, relevant, and consistent brand content to attract and retain a defined audience, aiming to drive profitable customer action

Content marketing 

Integrating and coordinating the companies communication channels to deliver a clear, consistent, and compelling message

Integrated Marketing Communications (IMC)

The 9 elements of communication:

1. Sender

2. Encoding (Putting thought into a symbolic form such as making an app)

3. Message (Symbols that the sender transmits)

4. Media (Communication channels through which the message moves from the sender to the receiver)

5. Decoding (Process by which the receiver receives meaning to the symbols)

6. Receiver (Party receiving the message)

7. Response (Reaction of the receiver after being exposed to the message)

8. Feedback (Part of the response communicated back to the sender)

9. Noise (Unplanned, static, or distortion during the process)

What are the steps in effective marketing communication? 

1. Target the audience

2. Determine communication objectives

3. Designing the message (content, structure, format)

4. Selecting the message source

What does the target audience stage do?

Asks themselves these questions:

• Are they the buyers?

• Are they the potential buyers?

• Are they the influencers?

• Are they the individual or groups?

What are the 5 A’s of determining the communication objectives?

1. Awareness: I know about the product

2. Appeal: I like the product

3. Ask: I want to know more about the product

4. Act: Buying the product

5. Advocacy: I’m telling others about the product

What does designing the message stage include?

Content, structure, and format

Deals with rational emotional or moral appeals

Content

Deals with if its either going to be a 1 or 2 sided argument, will you draw a conclusion, and will your strongest argument be first or last

Structure

Which colors and headlines to use

Format

What does selecting the message source stage include?

• Personal communications channel

• Word of mouth influence

• Buzz marketing

• Non personal channel

2 or more people communicate with each other

Personal communication Channel

Impact of communicating between friends, family, and others on the buying behavior

Word of mouth influence

Cultivating / encouraging opinion leaders and getting them to spread info about a product or service 

Buzz Marketing 

No personal contact or feedback

Non personal channel

Is it highly credible and are you using celebrities

Selecting the message source

Asks themselves:

• Do you remember the ad?

• How many times did you see it?

• What points do you recall?

• What are your feelings about it?

Feedback

Setting the budget includes…

Finding out the

• Affordability

• Percentage of sales (Percentage of current or forecasted sales)

• Competitive parity (Set to match competitors out of the race)

What is the process of the Objective and Task:

1. Defining the objectives

2. Determine the task

3. Estimate the cost

Using a sales force and retailers to push the product

Push strategy

Using advertising and promotion to include people to buy

Pull Strategy

Used IMC to stand out form the clutter in the advertising market by going beyond advertising where it starts with a core message “15 min can save you 15%” and using the gecko and other mascots

GEICO

Their covered shopping centers began replacing downtown mainstreams and made an impact on casinos where they began adding non gambling activities 

Mall of America