5. Marketing Communications Flashcards
What is IMC?
Integrated Marketing Communications is a strategic business process used to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects employees, and other relevant external and internal audiences
Conventional IMC Participants
Advertiser
Advertising agency
Media organization
Specialized services
IMC & Marketing Planning
- Situation Analysis
- STP
- Marketing Program Development
- IMC Operates HERE
- Buyers
IMC: situation Analysis
Macro environment
Industry & markets
Competition
Consumers
Company
IMC: STP
Segment the market
Select target market(s)
Determine positioning strategy
IMC: Marketing Program Development
Product decisions
Price decisions
Channel decisions
Promotion decisions
Advertising
Direct marketing
Interactive marketing
Public relations
Sales promotion
Personal sales*
IMC: Operations
Promotion to final buyer -> Consumers & Organizational Buyers
Promotion to trade -> Resellers
IMC Elements
Advertising Direct Marketing Indirect Marketing PR/Events Sales Promotion \+ Personal Sales
Evaluating Creative
Artistic Value Flexibility Originality Elaboration Synthesis
Media Types
Print
Broadcast (TV, Radio)
OOH & Place-Based (Outdoor, Transit, Place-Based)
Direct Marketing/Direct Response (–> measurable!)
Sales Promotion (consumer promotions, trade promotions)
PR & Experiential (PR - long time, Publicity - short term)
Activation (i.e. music festivals)
Digital
Media and Content Strategy
- earned
- paid
- owned
Digital Platforms & Social Media
Stage 1: Social Listening
Stage 2: Digital Insights
Stage 3: Digital Foresight
Procterian Marketing
Focuses on a single, cross-sectional target, which implies regularly rejuvenating the brand
Strategy involves both recruiting new customers and letting older customers leave the brand to avoid the risk of aging it
i.e. Diapers
Potterian Marketing
Based on the idea that brands can be built along generational cohorts by engaging in a lifelong conversation with customers (basically, the brand evolves with its customers)
i.e. Harry Potter brand, influencers (age together with fans, influential because of tight bond with communities)
The New Market Operating Model (MOM)
Integrated Consumer Data
> Collecting data isn’t the issue – companies have lots of it
> Challenge is weaving all of the available data into an accurate and complete profile of the individual consumer
Decision Making
> Can “score” customers based on specific criteria of value-creation potential, allowing marketers to prioritize which messages, offers, and experiences to deliver at which points in the decision journey
> Machine learning can help with this
Distribution Platforms
> Marketing-technology platforms are the last mile of the process
> Integrate customer scores and use them as triggers for message delivery
Programmatic Marketing
Programmatic marketing is automated bidding on advertising inventory in real time, for the opportunity to show an ad to a specific customer, in a specific context
No longer a silo or a distinct media channel – it’s simple how brands are buying ads
