Marketing Communications Strategy Flashcards
What is integrated marketing communications?
- the strategic, coordinated use of promotion to create one consistent message across multiple channels to ensure maximum persuasive impact on the firms current and potential consumers
- through promotional mix: advertising, pr, personal selling, and sales promotion
Why is integrated marketing communications important?
- fosters long term relationships
- reduces or eliminates promotional redundancies
- technology allows better targeting of customers
- takes a 360 degree view of the customer that considers every contact that a customer has with the firm
What are marketing communications objectives?
-Differentiate products and services
- remind and reassure customers
- inform existing and potential customers
- persuade targets to think or act in a particular way
(DRIP)
- attract consumers attention
- create build an image
What are some points that need to be considered in marketing communications?
- it should be relevant to target market
- should be understandable
- should be legal
- reinforce brand message and positioning
- identify USP
- be measured
What are the three strategic uses in IMC?
- must have clear promotional goals and objectives
- the AIDA model: attention, interest, desire and action
- promotional strategies:
pull strategy: focus promotional efforts towards consumers
Push strategy: focus promotional efforts towards the supply chain
What is the promotional strategy over the PLC different stages?
Introduction:
- heavy advertising and pr to build brand awareness and inform customers.
- personal selling to ensure distribution converge and supply chain cooperation.
- consumer sales promotion stimulates product trial
- trade sales promotion facilitates distribution activities, obtain shelf space or display
Growth:
- heavy spending on advertising and pr to build and maintain brand loyalty.
- personal selling maintains distribution and supply chain cooperation
- sales promotion activities decline in importance
Maturity:
- shifts to reminding customers of the firms products
- sales promotion efforts encourage brand switching for both consumers and the trade
- personal selling remains important to ensure supply chain support and distribution coverage
Decline:
- drastically reduce advertising and pr in attempt to reduce expenses
- sales promotion and personal selling drop to levels enough to maintain product support
Distinguish between above and below the line communications?
Above the line communications: promotions that make use of commission paying mass media (TV, press,cinema, radio and posters)
Below the line communications: non- commission paying media promotions , all forms other than advertising.
What is Pull advertising?
- get the customers to come to you (pulling them in)
- attempts to create brand loyalty and keep customers coming back
- can be used to reach a mass audience or a precisely defined market segment
- very cost efficient when reaching mass audience
- traditional mass audiences are fragmenting due to increasing media options
- digital communication (Internet, mobile) is the fastest growing form of advertising
What are types of digital IMC?
- forums
- mobile phone
- social media
- blogs
- website
What is buzz marketing?
- a viral marketing technique that is focused in maximizing the WOM potential of a particular campaign or product
- through conversations amongst consumers an Family and friends on large scale, discussion on social media blogs
What is advertising?
- paid, non personal communication transmitted through media,(TV, radio, magazines, newspapers, direct mail, intended and movie, devices)
- one of the most viable and key components of promotion
- rapidly expanding online, due to consumers spending less time with traditional media
- hard to measure in effectiveness of increasing sales
What are the types of advertising?
- Institutional advertising: promote firms image, ideas and culture
- Product advertising: used to promote the image, features, uses and benefits and attributed if products
How do you determine the advertising budget?
- objectives and task approach
- percentage of sales approach
- competitive matching approach
- arbitrary approach
What are some Advertising appeals that marketers try and convey?
- positive and negative appeals
- fear
- guilt/shame
- humor
- love
- pride
- joy
How do you evaluate advertising effectiveness?
- it can be measured before, during, or after the campaign has been executed. Consumer panels, surveys, or experiment designs may be used to evaluate a campaign based on communication objectives.
- can evaluate the achievement of advertising objectives
- assessing the effectiveness of advertising copy, illustrations and layouts
- evaluating the effectiveness of various media
- time of evaluations: pre test, during and post test
What is public relations? And what is its goals?
- one of the firms corporate affair activities
- is an element in IMC that track public attitudes,
- identify issues that may elicit public concern,
- develop programs to create and maintain positive relationships between a firm and its stakeholders.
What are the use of public relations?
- to promote the firm, it’s people, ideas, image
- to create an integral shared understanding among employees.
- can improve the public general awareness of s company and can create specific images such as quality, innovativeness, value or concern for social issues.
What are some public relations methods?
- news releases
- features articles
- white papers
- press conferences
- event sponsorship
- product placement
- employees relations
What is important for negative public relations?
- honesty is the best policy
- open access to information is critical
What is personal selling?
- paid, personal communication that attempts to inform customers about products and persuade them to purchase those products
- focuses less on sales and instead in developing personal relationship with buyers
- most precise form of communication, high costs due to cost per contact
- takes on elements of customer service and marketing research
- frontline held by sales force one of the ,out important assets of the firm
- impacted by technological advances
What are the typical goals of personal selling?
- Finding prospects
- Inform prospects
- Persuade prospects to buy
- keep customers satisfied through follow up service after the sale
What does the sales management activities include?
- The development of sales force objectives
- Determining the size of the sales force
- Recruiting and training salespeople
- Controlling and evaluating the sales force
What are the different sales force compensation methods?
- Straight salary:
Most useful when: new sales people, sales people move in to new territories, products require intense pre and post sale service - Straight commission:
Most useful when: aggressive selling is required, no selling tasks can be minimized, firm outsources some selling functions - Combination
Most useful when: sales territories have similar sales potential, the firm wants to provide incentive and still have some control
What is sales promotion?
- involves activities that create buyer incentives to purchase a product or that add value for the buyer or the trade
- accounts for the bulk of promotional spending
- one universal goal: to induce product trial and purchase
- not a stand alone promotion, used to support other promotional activities
What does sales promotion in consumer market include?
- coupons, rebates, samples, loyalty programs, point of purchase, premiums, contest, direct mail.
- manufacturers and retailers typically offer them
- effective way to promote and introduce new products and established brands
What does sales promotion in business markets include?
- trade allowances, free merchandise, cooperative advertising, selling incentives, training assistance.
- undertaken to push products through the channel by increasing sales and encouraging among channel partners
- many similar promotional methods used for consumers. The unique ones are listed above.
What is the Importance ranked of the communications mix, for consumer goods vs industrial goods?
Consumer goods:
- Advertising
- Sales promotion
- Personal selling
- Public relations
Industrial goods:
- Personal selling
- Sales promotion
- Advertising
- Public relations
