Week 1 Flashcards
Define integrated marketing communications (IMC)
The integration of all marketing activities associated with planning developing, implementing and evaluating brand communication (A process, not a thing)
o Integrating all the promotional mix (tools), so that they work together in harmony (creating brand equity)
o In a Clear, Consistent and Compelling voice
Define Brand equity
The equity (value) that an established brand has built over it’s history (time)
o Commercial value that derives from consumer perceived value of a brand image and name.
o E.g. Apple known as a creative innovator within the industry
Define brand recognition (lowest)
A relatively low level of awareness of a particular brand, where the consumer may be able to identify a brand if given prompts.
Define brand recall
A relatively high level of awareness of a particular brand,
where a brand is so well known that many consumers can recall the brand
without prompts.
Define top of mind awareness
This pinnacle of brand-name awareness occurs
when a company’s brand is the first brand that consumers recall when thinking of a particular product category
explain brand awareness pyramid from bottom to top
unaware of brand
brand recognition
brand recall
top of mind awareness (TOMA)
steps in building brand equity framework
- Profile the Target Market:
o Determine the message and positioning. - Use the relevant media channels:
o Reach the target consumer e.g. younger people = social media. - Achieve communication synergy
o Speak with one voice, build brand equity - Influence the target market
o Sales, awareness, loyalty, behavior - Build customer relationships:
o Repeat purchases, positive WOM, community
Common IMC elements
- Sponsorship
- Personal selling
- Sales promotion
- Pubic relations
- Advertising
- Point of purchase
- Direct marketing
- Digital marketing
Common imc media channels
o Newspaper o Facebook o Radio o Television o Twitter o In-person o In-store
define positioning
Central idea that encapsulates a brand’s meaning and distinctiveness e.g ‘Apple’ = ‘Think Different’
define targeting
Meaningful segmentation of a number of demographics and psychographics
o Messaging/positioning must align with the values of the target consumer to create synergy
major differences between traditional and social media
market research:
surveys or focus groups conduced infrequently with limited customers (traditional
Continuous detailed feedback from customers inning online communities
(social media)
New product Development:
New products created by R+D with limited feedback from customers (tradition)
Customers contributing new product ideas to brand team on regular basis
Customer interaction:
One way marketing from the company; two way dialogue occurred in store (traditional)
Customer expect brands to listen and engage with them regularly (SM)
Brand positioning:
Brand positions creased with agency and dictated to customers (traditional)
Brand positioning creased and shared to most engaged, loyal customers (SM)
Targeting:
Tv ad created for the masses, some minimal targeting via program selection (traditional)
Digital campaigns reach consumers in an entirely personalised manner (SM)
Creative:
Campaign created with agency and executed over 6 month plan (traditional)
Campaign constantly evaluated and evolved based on real time data