1+2 building the marketing program Flashcards
what is the communication process?
- Going from sender → encoding the message → message channel → decoding the message → receiver
- Within this process, there is the noise that disrupts the three in-between phases, this can be other advertisements
- Feedback channel from sender to end - this is what we want to know that the targeted receiver gets it
integrated marketing communications:
: the careful coordination of all promotional messages to assure the consistency of messages at every contact point where a company meets the customer
what are the 6M and three layers?
strategic intent
- mission:objectives of communication
- market -Defines the audience for communication
strategic execution
- message -ranslates the posting statement into a compleing statement
- media - - Where, when and how message will be delivered
strategic impact
- money - how much we spend
- measurement - - How will impact be assessed ?
what are the 5 decision making strategies? name and define them
- Problem recognition - identify new problems/needs and/or remind customers of existing needs
- Information search - makes consumer aware of product and educate them about its features and benefits
- Evaluation of alternatives - asset consumers in making comparisons among solution options
- Purchase decision - prompt consumers into making the the purchase
- Post-purchase- encourage product usage and making the purchase-
what is the heirachy of effects (funnel)
- The top of the funnel is where there is a lot of customers with potential but as you go down you loose them along the way (think/feel/do)
- Awareness → knowledge → liking → preference → condition → purchase
what is the goal of the customer funel?
- close the funnel over time by narrowing it by doing a better job at putting or message in location where our targeted customers are
- By making the top smaller the customers will be more qualified and will waste less resource’s money etc to reach the correct people
- We hope that the bottom will expand outward (make a cylinder)
Unique selling proposition
- things about us that are different and matter the most to the target customer that we are trying to reach
four targeting strategies (market)
- Undifferentiated - market is one big market (treat everyone the same)
- Multi-segment - 2+ segments and each
- Concentrated (niche) - only one segment
- Mass customization (1 to 1) - personalized
what is unidirectional? bidirectional? multi?
- Unidirectional (one way) from firm to customers (billboards)/ a prepackage message
- Bidirectional: provide a forum that allows for consumer response involving give-and-take conversation between firm and customer and expect customer participation (Consumer takes an active role )
- Multidirectional: firms communicate with consumers who communicate with each other-
Push policy
- we are going to communicate to the next entity in the channel
- Pushes messages through the channel
- Designed to motivate distribution channel partners or intermediaries to sell products to consumers and thus target the sellers of a product as the audience-
pull policy
- communicate directly to the end consumer and hope that customers will go to retailers and demand the product
- Designed to build demand with end consumers so that their desire for the product brings them t the point of sale
- Target users of the product as the audience
- Bypass the flow of products and go direct
what are the parts that make up a good message?
- message
- conflict
- characters
- plot
- memes
what are the different types of appeals in a good message?
- Creative appeals - different types of storytelling appeals to communicate with consumers
- Rational
- emotional (humor, fear, sex)
Outbound marketing
Outbound marketing involves a company sending its message out to an audience through methods like TV ads, direct mail, and telemarketing. It’s a traditional approach where the company initiates the communication.
inbound marketing?
- Inbound marketing is about creating content and experiences that attract customers to reach out to the company. It’s like setting up a magnet to pull customers in, rather than pushing messages out to them.
- S company creating helpful blog posts, videos,
three types of media?
- Extent to which message is varied by person (okay not be personalized at this point) - addressable and mass media
- Timing of interaction (async and synch)
- control of media (firm controlled, other controlled and consumer-controlled)
addressable and mass media?
- Addressable (interpersonal) media (personal selling) allows marketers to fully customize their pitch to the particular needs if an individual customer
- How do we connect more directly to our customers in that more 1 to 1 enviornment?
- Mass media (TV ads) viewed by mass audience and no customization of message is possible
firm controlled, other controlled and consumer-controlled
- Firm controlled
- Owned media- our stuff so website retail spaces
- Paid media- we do not own the property in which the communication takes placed in (paid to be there) but we choose the ad and where it will come up
- Other controlled (earned media) - some other entity controls and we o not have control on how we show up
- Media provided by important cultural gatekeepers like writers
- Consumer-controlled (earned media) - people talk about us
- Blogs
Earned media: and types
- not purchased but earned :
-Advertising
direct marketing - sales promotion
- personal selling
- pr
- EVENT MARKETING AND sponsorship
- social media
what are the two types of budgeting?
- top-down approach (common)
- competitive benchmarking
- bottom-up budgeting operation
top down approach?
budgeting for an org is being put into place and discussion of communication part they are looking at revenue in two ways
- Looking at the estimated revenues for the upcoming period or actual revenue from the previous year then budget it as a set ratio of that revenue
pros and cons of top - down approach?
- Easily built in ocntratint/super easy
- Don’t like” the constraint that they can not reach harder to reach targets with limited budgeting
competitive benchmarking:
- Makes sure that we are out there
- We are looking around at our competitors and seeing what their budget is and setting our budget based on that
what is share of voice?
another name - us + competitor (lets say 3 so total of 4) going after the sam customer - if you were to take all our marketing communications spend across, 4 competitors- that would be a 100% of voice each (each percentage for each competitor that is there share)