Communications Flashcards
What is communications?
“To share”
“to make accessible”
What is Marcom?
The use of different marketing channels and tools in combination to communicate to the customer
Draw the macro model of the communication process
Sender
Encoding
Message/Media
Decoding
Receiver
Response/ Feedback
Noise
What is a marketing communication mix?
It comprises of various ways that a company can communicate with their customers
What components of Marcom are important in this time and day?
Communications mix
Marketing vehicles
What are some tools in the Marcom Mix?
Advertising
Sales Promotion
Events and experiences
Public relations and publicity
Online and social media marketing
Mobile marketing
Direct and database marketing
Personal selling
What is advertising?
Any form of non personal presentation and promotion of ideas, goods and services by and identified sponsor via print media, broadcast media, network media, electronic media and display media
What is sales promotion?
A variety of short term incentives to encourage trial or purchase of a product or service including consumer promotions, trade promotions, and business and sales force promotions
Give examples of Print Media in advertising?
Newspapers
Magazines
Give examples of Broadcast Media in advertising?
Radio
Television
Give examples of Network media in advertising?
Telephone
Cable
Satellite
Wireless
Give examples of Electronic media in advertising??
Audiotape
Videotape
Video CD
Web pages
Give examples of Display media in advertising??
Billboards
Signs
Posters
In Sales promotions what is consumer promotions?
Samples
Coupons
Premium
In Sales promotions what is trade promotions?
Advertising and display allowances
In Sales promotions what is sales force promotion?
Contests for sales reps
What are the types of sales promotions?
On pack gift (premiums)
Additional quantity at same price
Price off
Coupons
Contests and sweepstakes
What are the common PR activities?
Publicity
Media management
Corporate image/reputation
Research and counselling
Internal marketing
Shareholders and other financial relations
Lobbying
Crisis management
Community relations
What are communication objectives?
They are what the company seeks to be. Objectives should be SMART:
S- Strategic
M- Measurable
A- Actionable
R- Realistic
T- Timely
And also: communicable and aspirational
How do we determine the communication objectives?
By understanding the consumer wants and needs
Awareness
Knowledge
Liking
Preference
Conviction
Purchase
Explain the steps of setting communication objectives
First build awareness and knowledge
Liking: Do consumers like the product/ what do they feel
Preference: preferring your product against rest
Conviction: believing that a product/service is best for them
Purchase
What are the stages of a product life cycle?
Introduction
Growth
Maturity
Decline
What are the communication objectives of the different stages of the product life cycle?
introduction: Create awareness and inform that there is an alternative
Growth: Brand building, new features and channel development
Maturity: Maintain and increase market share (promote other uses, expand scope, brand extension)
Decline: Minimal marcom expenditure
What are the two categories of communication channels?
Personal
Non- personal
What are personal communication channels?
Where two or more people communicate directly with each other
eg: face to face, on the phone, through email, text or chat
Word of mouth influence
Buzz marketing
What are non-personal communication channels?
Media that carries messages without personal contact or feedback including major media and events
eg; major media: print, broadcast, online
Atmospheres: designed environments that create or reinforce the buyers leaning towards a purchase
Events: Staged occurences to communicate messages to audience
eg: grand openings, exhibits, tours
What are the pros and cons of advertising?
Pros:
Can reach masses at low cost per exposure
Repeat a message
Give legitimacy (affirms sellers size, success and popularity)
Allows company to dramatize through art, visuals, print, sound and colour
Cons:
Impersonal
Costly
What are the pros and cons of personal selling?
Pros:
personal interactions
allows wide range of customer relationships
Consumer feels the need to listen and respond
Cons:
Sales force is a large commitment and difficult to change
More expensive
What are the pros and cons of sales promotion?
Pros:
Attract attention, engage consumers and offers strong incentives to perform
Invites and rewards quick response
Cons:
Short lived effect
not as effective as advertising and personal selling in terms of building brand preference and consumer relationships
What are the pros of public relations?
Believable
Reach consumers who avoid salespeople/ads
Can dramatize a product
What are the pros of direct and digital marketing?
More targeted
Immediate and personalized
Interactive
What are the budgeting methods in IMC?
Affordable method
Percentage of sales method
Competitive parity method
Objective and task method
Define affordable method?
Setting the promotion budget at the level management thinks the company can afford
Define percentage of sales method?
Setting the promotion budget at a certain percentage of current or forecasted sales or percentage of the unit sales price
Define competitive parity method?
Setting the promotion budget to match competitor’s outlays
Define objective and task method
Developing the promotional budget by:
1. Defining specific promotion objectives
2. Determining the tasks needed to achieve the objectives
3. Estimating costs of performing the tasks
Sum of these costs is the promotion budget
