Chapter 1 Flashcards
Brand Parity
when brands are viewed as being equivalent to
*we don’t want brand parity, we want brand loyalty!
*quality of brand becomes less of a concern
*e.g. buying off brands
Standardization
presenting the same message across national boundaries
Integrated Marketing Communications
the coordination and integration of all marketing communication tools, avenues, and sources within a company into a seamless program which maximizes the impact on consumers and other end-users at minimal cost
Four ways consumers interact across multiple media formats
- Content grazing
- Investigative sider-webbing
- Social spider-webbing
- Quantum
Steps in IMC plan (8)
- Situational Analysis
- SWOT analysis
- Objectives
- Target Market
- Marketing Strategies
- Marketing Tactics
- Implementation
- Evaluation of Performance
4 P’s of the marketing mix
- Product
- Price
- Place (i.e. distribution systems)
- Promotion
Explain the communications process model
The sender sends a message that is encoded by a transmission device – this message is then decoded by the receiver, who sends feedback based on what they decoded
*noise can interfere with effective transmission
Content Grazing
looking at two or more screens simultaneously to access content which is not related
e.g. texting someone while watching tv
Investigative Spider-Webbing
when a consumer investigates specific content across multiple platforms
e.g. someone looking at player stats on their phone while watching tv
Social Spider-Webbing
when a consumer shares content or information across multiple devices
e.g. making an Instagram post on your computer then texting your friend to like the photo
Quantum journey
focuses on completing a specific task
e.g. looking on your computer to find a nearby Chinese restaurant, then looking at reviews on your phone, then using maps to get there
Who might a sender be in marketing?
a company or brand promoting a product
What might a transmission device be in marketing?
tv station, twitter post, news ad, website, etc.
Who is the receiver in marketing?
The consumer
What might feedback be in marketing?
purchases, inquiries, complaints, questions, store visits
What is an example of noise that might interfere with a marketing campaign?
-talking on the phone during a commercial
-talking to a passenger when passing a billboard
Situational analysis
examination of the firm’s present market situation
SWOT Analysis
studying the factors in the organization’s internal and external environments
*identifies the company’s strengths and weakness
e.g. production costs, marketing skills, financial resources, company or brand image, employee capabilities, technology
Marketing objectives
establishes targets
e.g. higher sales, more market share, desired customer actions, change attitudes
Target Market
who the company wants to market their product towards
Marketing Strategies
using methods from the marketing mix to achieve marketing objectives
Marketing tactics
guide day-to-day activities necessary to support marketing strategies
4 key components of IMC
- strategy
- message
- media
- evaluation
