MKTG_2202_-_Lec_7_-_Ch_5_Objectives

Introduction to Marketing Communications

Distinguish Types of Objectives:
- Marketing Objectives
- Behavioural Objectives
- Communication Objectives
Historical Approaches:
- Understanding past frameworks for setting communication objectives in advertising.
Set Behavioural Objectives:
- Evaluate options and apply them in planning.
Set Communication Objectives:
- Choose and apply options in IMC recommendations.
Combine Objectives:
- Best combinations for the consumer decision-making process.

Benefits:
- Objectives guide communications, planning, decision-making, measurement, and evaluation of results.
**Categories:
- Marketing Objectives
- Communication Objectives**

Characteristics:
- Generally included in overall marketing plan.
- Quantifiable goals (sales, market share, ROI).
- Must be achieved within a specific timeframe.
- Must be realistic and attainable.
Role of Marketing Objectives:
- Define what the marketing program is meant to accomplish.
- Are not suitable as standalone promotional objectives.

External Variables Affecting Sales:
- Competition, advertising, distribution, technology, pricing, economic conditions, product quality.

Challenges with Sales:
- Poor sales could result from any aspect of marketing mix.
- Advertising can create brand awareness but may not directly lead to sales.
Understanding Effects of Advertising:
- Need to explore and quantify the effects advertising has on consumer behavior.

Definition: Statements of expected communications outcomes.
Levels of Communication Objectives:
- Overall IMC plan
- Individual IMC tools
- Specific elements of a communications tool.

Widgets-R-Us:
- Marketing Objective: Increase sales of luxury widget by 10% by end of fiscal year.
- Communication Objective: 30% of females aged 18-34 prefer luxury widget over competitors in 6 months.

Marketing Objectives: Easy to measure.
Communications Objectives:
- Often challenging and expensive to assess.
- Require pre- and post-campaign surveys for accurate tracking.

Instances where a communications objective aligns with a sales objective:
- Controlled sales channels.
- Specific calls to action.
- Trackable "path to purchase."

Definition: A framework for setting communication goals and measuring success.
Four Stages of Communication Tasks:
- Awareness
- Comprehension
- Conviction
- Action

Specifying:
- Time period, measurable tasks, targeted audience, benchmarks, and degree of sought changes.
Example Using Widgets-R-Us:
- Communication objective aligns with overall strategy focusing on measurable outcomes.

What to Measure?
- Response Levels: Understand impacts across different stages of consumer action.
Hierarchy of Effects Model:
- Measures from awareness to action with corresponding example strategies.

Trial and Awareness Metrics:
- 20% trial
- 40% liking
- 90% awareness within target audience
- 5% usage
- 70% knowledge
- 25% preference.

Definition: Links brand attitude to sales objectives.
Essential Elements: Clear objectives for distinct target audiences.
Examples of Behavioural Objectives:
- Trial purchases
- Brand and category trials
- Repeat purchases and consumption.

Segments: Based on Rossiter and Percy’s perspective:
- Brand-loyal customers
- Favourable brand switchers
- Non-customers
- New category users
- Other brand loyals.

Key Focus:
- Trial: Encouraging new users to try the product.
- Repeat Purchase & Consumption: Tracking frequency, amounts, and ongoing usage.

Purpose: Measure effectiveness of marketing tools directly.
Driven by direct Internet marketing metrics:
- Purchases, website views, and social media interactions documenting engagement.

The above components provide a comprehensive overview of setting marketing and communication objectives as part of an Integrated Marketing Communications (IMC) plan, essential for guiding effective marketing strategies.