7. Communcating value: Promotion Flashcards
What is the basic communication process?
Sender → Message Encoding → Delivered via communications mode and media channel → message decoding → receiver → feedback
What are marketing communications stages
- Ad exposure
- Cognitive stages
- Brand awareness
- Learning ad claims
- Message acceptance
- Affective stage
- Brand liking
- Behaviour cognitive stage
- Brand intentions
What is encoding variability
It a way of using multiple links to a product and information to retain the memory of it
What is the definition of
Integrated Marketing Communications (IMC)?
IMC is the development and implementation of various forms of communication programs used to persuade customers over time
What are the key elements of IMC process?
- Affecting purchase behaviour
- Using all forms of contact available to a customer to reach them
- Understanding the customer and then determine the most effective communication strategy
- Achieving synergy
- Have a coordinated message across various media
- Achieve stronger brand ‘position’
What are the steps to IMC?
- Campaign Planning
- Identify target audience
- Determine objectives
- Establish budget
- Campaign Design
- Select modes
- Decide on media mix
- Production
- Design message and content
- Execution
- Launch campaign
- Measure results/manage IMC
- How to identify the target audience?
Using the market segmentation to select target markets
- How to determine IMC Objectives?
The purpose of the IMC and what goals the company is trying to achieve based on communication tasks directed to the target audience
- How to establish Budget? What are the rules of budgeting?
- Simple budgeting rules
- Percentage of sales
- All you can afford
- Competitive parity related to competitors in the market
- Complex rules
- Econometric models
- Measure ad response and profitability using sales data
- Objective (extra sales) and task method
- Quantify how much the objective is worth to the company and then compare to the expected costs to achieve objective
- Econometric models
How to measure results of budget determination?
- Effective frequency
- optimum range of exposures in an advertising cycle that maximises target’s disposition to act before exposure is considered wasteful
- Minimum effective frequency
- Most cost effective
- Once a purchase decision is made, all further exposures to message are waster
What does the optimum range of results of Budget Determination depend on?
- Audience brand loyalty
- Message creativity
- Potential for interpersonal influence
- Newness of product
- Selecting modes of communication
What types of communication are there?
- Modes should align with objectives
- product-promoting ads (awareness, consideration)
- In-store promotion (trial)
- Brand-building ads (attitude, repeat/loyalty)
- Advertising
- Pervasive, amplified expressiveness, Impersonality
- Sales promotion
- Communication, Incentive to purchase, Customisable
- Public relations and publicity
- High credibility, Ability to catch buyers off guard, Dramatisation
- Events and experiences
- Relevant, Involving, Implicit
- Personal Selling
- Personal interaction, cultivation, response
- Direct Marketing
- customised, up-to-date, interactive
- Word of mouth marketing
- credible, personal, timely
- Influencers
- Disclosure, inspiration, niche audiences
- Decide on Media mix
How to decide on media mix?
by comparing the pros and cons of the marketing mix elements
- Determine message and content
What factors need to be considered to determine message and content?
- Type of product: durable? Cheap? Service?
- Type of market: High/Low competition, fast/slow
- Product life cycle stage: Intro/growth/maturity/decline
- Buyer stage: un/aware of the product, readiness to purchase
What is the definition of purchase motivation?
What is influencing the customer to purchase a product
