Session 5 Communicating Value Flashcards
What is Marketing communications?
The means by which firms attempt to inform, persuade, and remind consumers about the products and brands they sell
What does the Macromodel of marketing communications do?
It articulates the interaction between the sender (company) and the recipient (consumer) of the communication message
How is the macromodel of marketing communications illustrated?
It has overall nine key factors:
- Two represent the major parties: Sender and receiver
- Two represent the major tools: Message and media
- Four represent major communication functions: encoding, decoding, response, feedback.
What does the Micromodel of marketing communication do?
It concentrates on consumers´ specific responses to communications and then generates a consumer response in:
- Awareness
- Knowledge
-Liking
- Preference
- Conviction
- Purchase
How is an effective communication program developed?
To develop an effective communication program, the company must follow a systematic process that starts with setting the goals to be achieved by the communication campaign and concludes with the outcome of the campaign.
What are the steps of developing an effective communication program?
- Setting the objectives
- identifying the audience
- crafting the message
- deciding on the media
- developing the creative approach
- measuring performance
What does the success of a company´s communication campaign depend on?
The ultimate success of a company´s communication campaign depends on the viability of the overall strategy and tactics for managing the company´s offering, which serve as a basis for developing a communication plan.
What are communication objectives?
Specific tasks and achievement levels to be accomplished with a specific audience in a specific period
- creating awareness
- building preferences
- inciting action
We classify communication objectives according to whether they aim to create awareness by informing the target audience about the offering, to build preferences by persuading the audience of the benefits of the offering, or to incite action by nudging the audience to act in a way that benefits the company and its offering.
Why is creating awareness important?
Creating awareness provides a foundation for brand equity. Creating awareness involves fostering the consumer´s ability to recognize or recall the brand in sufficient detail to make a purchase.
What does building preferences involve?
Building preferences involves communicating an offering´s ability to meet a currently relevant consumer need. Some relevant needs are negatively oriented (problem removal, problem avoidance, incomplete satisfaction).
What does inciting action involve?
Inciting action involves motivating consumers to decide to purchase the brand or take purchase-related action. Promotional offers like coupons or two-for-one delas encourage consumers to make a mental commitment to buy.
When setting Communication Objectives, the process starts with a clear target audience in mind:
- Is the target new to the category or a current user?
- Is the target loyal to the brand, loyal to a competitor, or someone who switches between brands?
- If a brand user, is he or she a heavy or a light user?
In addition to defining the focus of the communication campaign, a company must set clear _________ that define the magnitude of the desired impact and the time frame within which a particular outcome - _______________ - must be achieved
benchmarks, awareness, preference, or action
What types of communication benchmarks are there?
- quantitative benchmarks
- temporal benchmarks
What are quantitative benchmarks?
Quantitative benchmarks quantify a particular objective.
They might determine the level of awareness that the communication campaign must achieve, the desired strength of preferences among the target audience, and the specifics of the action that the communication campaign must create.
