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The element of the marketing mix that communicates value to consumers
Encompasses all of the company's marketing communications activities
Promotion
Includes all the messages, media, and activities used by an organization to communicate with the market and help persuade target audiences to accept its messages and take action accordingly
Marketing Communication
Effective marketing communication is __________-_______________, and it is aligned with an organization's marketing strategy
goal directed
Encourages marketers to think about communication in a coordinated way
They ask: How can we orchestrate all the different means of reaching a target segment in order to maximize our impact?
IMC (Integrated Market Communication)
Integrated Market Communication (IMC) is now referred to as...
Omnimarketing
Integrated marketing brings creative ideas to life across relevant consumer touchprints driving __________________ by delivering compelling, seamless, and rich experiences at the __________________-_____-__________________
conversion
moment of purchase
What are the 4 Objectives of Integrated Marketing?
Solves a Business Challenge
Builds the Brand
Drives Retailer Engagement
Engages Shoppers
What was an Integrated Marketing example we talked about in class?
Haleon (game over for headaches)
What are the 3 funnels of the marketing funnel?
From top to bottom
Awareness
Evaluation (Consideration)
Purchase
What funnels does integrated marketing work in regards to the marketing funnel?
Evaluation
Purchase
What is at the top of the Marketing Funnel?
Awareness
What is the first step of Developing Promotion / Marketing Campaign Plans?
Identify relevant target audience
Marketing Campaign Elements:
In a successfully operated campaign, all activities will be well-coordinated to build on one another and increase the overall impact
- For example, a single campaign might include:
(Johnson & Johnson with Jennifer Aniston)
Advertising
Sales Promotion
Digital Marketing
Known by advertisers and agencies globally as the pre-eminent award in the industry and recognized any and all forms of marketing that contribute to a brand's success
Effie Awards
Tactics that are designed to achieve short-run sales objectives
Ex: Unit sales, Boost trial, Stimulate brand switching
Push Marketing
Retailer receives an incentive ($) from the manufacturer to order and merchandise more of the brand
Ex: volume discount, displays, promotional cash allowances, in-store demonstrations and sampling, retailer advertising
Trade Promotion (Push Marketing)
Advertising is not...
Push Marketing
Strategies and tactics are targeted directly at end consumers and often have longer-run objectives related to:
Advertising, Increasing brand awareness, Building brand preference, Creating brand image, In-store demonstrations and sampling, Retailer advertising
Pull Marketing
Advertising is...
Pull marketing
Promotion costs...
Money
Which P does not cost money?
Price
People who buy your product most or all of the time
Loyal Customers
People who buy a competitor's product more or all of the time
Competitor's Customers
People who buy a variety of products in the category
Brand Switchers
People who consistently buy the least expensive brand
Price Buyers
A marketing strategy that relies on unconventional, often low-cost tactics to create awareness of and goodwill toward a brand, product, service, or even a company
An edgy marketing approach
Ex. Volkswagen slide
Guerrilla Marketing
What are 2 goals of Guerrilla Marketing?
Get media attention
Make a positive and memorable connection with the target audience
What are the 3 Objectives of Advertising?
Inform
Persuade
Remind
A communication to create and build brand awareness with the ultimate goal of moving consumers through the buying cycle to a purchase
Informative Advertising
A communication used to motivate consumers to take action. Generally occurs in the growth and early maturity stages of the product life cycle (when competition is intense)
May also be used to reposition an established brand by changing existing perceptions
Persuasive Advertising
A communication used to remind or prompt repurchases especially for products that have gained market acceptance and are in the maturity stage of their life cycles
Reminder Advertising
What type of advertising do you use at each stage of the product life cycle?
Early Stage -
Growth Stage -
Mature Stage -
Informative
Persuasive
Reminder
Steps in Planning and Executing an Ad Campaign:
Conduct research to identify target audience then use the insights to:
- Set the tone of advertising
- Select the media to deliver the message
Identify Target Audience (Step 1)
Steps in Planning and Executing an Ad Campaign:
From the overall marketing plan objectives
Clarify the goals the ad is supposed to accomplish
Generally the objective is a pull strategy - to get consumers to pull the product by demanding it
Set Advertising Objectives (Step 2)
Steps in Planning and Executing an Ad Campaign:
Traditional
ZBB
Percentage-of-Sales
Determine the Advertising Budget (Step 3)
Budgeting Examples: Based on prior year budget
Traditional
Budgeting Examples: An approach in which brand-new budgets are always calculated from a zero base, rather than estimating it based on past budgets
ZBB (Zero Based Budgeting)
Budgeting Examples: Advertising budget is a fixed percentage of forecasted sales
Percentage-of-Sales
Steps in Planning and Executing an Ad Campaign:
Decide key message you want to convey
Decide what appeal would most effectively convey the message
Convey the message (Step 4)
Advertising tends to combine the types of appeals into what two categories?
Informational appeals
Emotional appeals
Step 5: Evaluation and Select Media:
More focused (specialty TV channels, specialty magazines, direct marketing)
Niche Media
Step 5: Evaluation and Select Media:
Reaching large audience (TV, outdoor, radio, magazines, social, etc.)
Mass Media
Steps in Planning and Executing an Ad Campaign:
Message and appeal are translated creatively
Considerations: Ad objectives, Target customers, Value proposition
Create Advertisements
Steps in Planning and Executing an Ad Campaign:
Ad testing, Tracking, Persuasion, Sales lift
Assess the Impact
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
PR (Public Relations)
What are 2 other names for Public Relations?
Corporate Communications
Media Relations
Marketing teams work with the ______ team to support the promotional efforts by generating free media attention and general goodwill
PR
Organizations and charities form a partnership to market an image, product, or service for their mutual benefit
Cause Marketing
Corporations support various activities in the cultural or sports and entertainment sectors
Event Sponsorship
Moral principles and values that guide and govern the conduct of individuals and organizations
Ethics
Ethics are paramount to marketing - why?
Trust
Long-term _________________ to customers will drive success, not short-term transactions
connections
Customer relationships depend on...
trust
Brands can lose equity immediately (and significant) if they breach consumer...
trust
American Marketing Association (AMA) Statement of Ethics:
ETHICAL VALUES
Honesty
Responsibility
Equity
Transparency
Citizenship
What are the top 3 ethical issues in marketing?
Selling the product vs. selling a solution
Telling the truth, but not the whole truth (half-truths)
Blatant lying to the marketer's own organization
Study of consumers, can include market research (broader)
Demographics, psychographics, beliefs, attitudes, behaviors, etc.
Marketing Research
What is the real value of Marketing Research?
Intelligence gathering
Marketing Research: The _________ that are mined from the raw data
The 'aha' moment
insights
Marketing Research results are used to _________________ problems and opportunities, ________________ marketing plans, validate the _____________ ________, monitor ____________________, and ___________ management decisions
pinpoint
formulate
marketing mix
performance
guide
The process of collecting information about consumers
Marketing Research
Marketing Research
_____________ --> ________________ --> _______________ _______________ --> _________________ ________________
Research
Insights
Strategic Direction
Superior Marketing
Insights aren't the ultimate goal..
Strategic direction and superior marketing are
Who did superior marketing research that lead to Take the Wheel?
Mercedes-Benz
Market Research:
Original and collected directly by the marketer
2 Main types - Qualitative and Quantitative
Primary
Primary Research:
Typically used for preliminary, exploratory purposes
Usually a small number of respondents
Designed to provide information depth rather than breadth
Findings have no statistical significants - can't be generalized to the whole population
Participants selected via nonprobability sampling
Qualitative
Primary Research:
These are examples of what?
Focus group (8-12 people) led by a moderator
Social Listening
One-on-one interviews - unstructured/loosely structured
Designed to elicit underlying motivations and attitudes
Qualitative
Qualitative Example:
A systematic process for tracking what is being said about a given topic in forums such as Facebook, Snapchat, Twitter, TikTok, LinkedIn, blogs, and even mainstream media
Social Listening
Superior site for marketers to find data related to social listening
Brandwatch
Primary Research:
Used to draw statistically significant conclusions
Can be generalized from the sample to the general population of interest
Involve large numbers of participants (200+)
Participants selected via probability sampling
Quantitative
Primary Research:
These are examples of what?
Surveys or questionnaires administered by mail, phone, email, web, or in-person (intercepts)
Experiments (impact of a change in one factor on another)
Several analytical techniques are available
Quantitative
The ______ is revolutionizing information gathering
IoT (Internet of Things)
Market Research:
Exists in the market
Collected from internal and external sources
Secondary
Market research ethical responsibilities related to the respondents - 3 things
Preserving anonymity
Avoiding mental stress
Ensuring safety
Market research ethical responsibilities related to the clients - 3 things
Confidentiality
Technical integrity
Administrative integrity
What are the 3 types of Marketing Information that marketers use to gain insights that will contribute to wise marketing choices?
Internal data
Competitive intelligence
Marketing research
What is the first step in the Marketing Research Process?
Define objectives and research needs
Secondary Research Advantages
Less Expensive
Less time consuming
Secondary Research Disadvantages
May be outdated
May not address exact problem or question
The percentage of respondents who are aware of your product, brand, or advertising when the brand is named
Aided Awareness
The percentage of respondents who are aware of your product, brand, or advertising top-of-mind without being assisted
Unaided Awareness
What are 2 key questions a marketer needs to answer related to Buyer Behavior?
How do potential buyers go about making purchase decisions?
What factors influence their decision process and in what way?
The elements of and influences on the search for, selection, purchase, use, evaluation, and disposition of the things consumers buy
Consumer Behavior
Helps companies imagine, design, and develop products/services that meet consumer needs and wants
Consumer Behavior
Consumer Behavior =
The psychology of marketing
What does the consumer decision making process begin with?
Need Recognition
What are the 5 Steps in the Consumer Decision Making Process?
Need Recognition
Information Search
Identification and Evaluation of Alternatives
Purchase Decision
Post-purchase Evaluation and Behavior
Marketers get involved in the Need Recognition State at 3 points:
1. Knowing what ______________ consumers are facing, so they can develop marketing mix to address these problems
2. Activating problem recognition, in order to trigger the start of the ____________________ process
3. Shaping how consumers define the need or problem, in order to _______________ their wants as they look for a solution
problems
purchasing
influence
Consumer Decision Making Process:
WIFM, Consumer Benefits
Need Recognition
Consumer Decision Making Process:
Involves many decisions: product type, brand, model, dealer selection, method of payment
Consumers reduce their risk by reducing: negative consequences, uncertainty
Purchase Decision
What 4 factors influence consumer decisions in the Purchasing Decision Stage?
Situational
Personal
Psychological
Social
Explains how shoppers actually BUY over time and what are the most relevant drivers of their purchasing behavior (Uses market data)
Actual behavior, sub-conscious drivers, consistency in behavior, household-level, robust sample, utilizes purchase data
Market Structure
Captures what consumers THINK is important and say what influences their purchase choice on a shopping occasion (What a consumer's claimed behavior is at a point in time)
Consumer Decision Tree
Decisions are more straightforward, require little risk, are repetitive, and often lead to a habit. In effect, these purchases are not very important to the consumer
Low-involvement Decisions
Decisions are those that are important to the buyer. They involve some risks to the consumer.
High-involvement Decisions
Two Systems of Thinking:
Fast Processing
Intuitive
Emotional
Non-logical
Automatic
Present-focused
Seeks efficiency (low effort)
System 1
Two Systems of Thinking:
Slow Processing
Deliberate
Logical
Controlled
Future-focused
Seeks accuracy (high effort)
System 2
Behavioral Science:
Influencing quantity of purchases
Changing the value perception of a display
Application to Retail
Small, seemingly irrelevant details that make a task more challenging or effortful can make the difference between doing something and putting it off - sometimes indefinitely (aka: easiness, hassle factors, effort)
Ex: Daisy Sour Cream - squeeze tube to eliminate use of utensils and move to side door to avoid being pushed to the back
Ex: Amazon's 'Buy Now'
Friction Cost (Behavioral Science)
The process of communicating marketing messages that encourage desired-behavior by appealing to the psychology of the individual
The process of designing choices in ways that will appeal to the decision-maker, so the whole process of making the decision is easier
Nudge Marketing
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