Upload
alison-kelly
View
214
Download
0
Embed Size (px)
Citation preview
Lecture OneLecture OneMKT 6810MKT 6810
Introduction to Promotions
Management and Integrated Marketing
Communications (IMC)
Key TermsKey Terms Marketing
Set of activities whereby businesses and other organizations create transfers of value (exchanges) between themselves and their customers
Communications Process whereby
thoughts are conveyed and meaning is shared between individuals or between organizations and individuals
Marketing CommunicationsMarketing Communications
What types of communications exist to promote their offerings and achieve their financial and non-financial objectives? B2B B2C B2NP
Integrated Integrated Marketing Marketing
CommunicationsCommunicationsa concept of marketing communications planning that
recognizes the added value of a comprehensive plan that
evaluates the strategic roles of a variety of communication
disciplines - for example, general advertising, direct response, sales promotion, and public relations-
and combines these disciplines to provide clarity, consistency, and
maximum communications impact.
Slide 1-1
Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998
Marketing Marketing CommunicationsCommunications Collection of all elements in a brand’s marketing mix that facilitate exchanges by establishing shared meaning with the brand’s customer of clients
Strategies for IMCStrategies for IMC
Affect Behavior Use all forms of
contacts Start with
customer Achieve
synergy Build
Relationships
Brand EquityBrand Equity One of the primary objectives of
brand and category managers if to utilize promotions to enhance brand equity
Brand equity New products would be perceived
as on a level playing field with existing brands in the marketplace as well as other products of the firm
Most IMC focuses on brand level
Importance of Brand Importance of Brand Loyalty vs. EquityLoyalty vs. Equity “While marketers have long viewed
brands as assets, the real asset is brand loyalty. A brand is not an asset. Brand loyalty is the asset. Without the loyalty of its customers a brand is merely a trademark, an ownable, identifiable symbol with little value. With the loyalty of its customers, a brand is more than a trademark.
Importance of Brand Importance of Brand LoyaltyLoyalty A trademark identifies a product, a
service, a corporation. A brand identifies a promise. A strong brand is a trustworthy, relevant, distinctive promise. It is more than a trademark. It is a trustmark of enormous value. Creating and increasing brand loyalty results in a corresponding increase in the value of the trustmark.”
Valuable Brands in the Valuable Brands in the MarketMarket
Coca-Cola Marlboro IBM Motorola HP GE Levi’s
Brand Concept Brand Concept Management (BCM)Management (BCM) Brand concept
The specific meaning that managers create and communicate to the TM
Introduce Utilize advertising and promotions to
yield awareness and familiarity Fortify
Reinforce the image and connections in consumers’ minds
Elaborate Build and expand to other products
BCMBCM Focuses on three basic consumer
needs Functional needs
Provide solutions to consumers’ problems through product attributes
Symbolic needs Psychological desires addressed
Group membership Affiliation, belongingness (think Maslow)
Experiential Needs Sensory pleasures addressed as well as
cognitive and hedonic consumption
Elements of the Elements of the Promotions MixPromotions Mix Advertising Sales Promotion Publicity/PR Management Personal Selling Direct Marketing and Social Media Marketing
New School vs. Old School New School vs. Old School Promotions MixPromotions Mix Old School
Advertising Sales Promotion Personal Selling Public Relations
New School Advertising, PR, Sales Promotion and Personal
Selling Direct Marketing, SEO, Social Media Mktg
AdvertisingAdvertising Paid Identifiable Sponsor Mass Media Inform or Persuade
Sales Sales PromotionPromotion Incentive or extra value to
encourage the consumer to act in a certain fashion.
Trade-oriented and consumer oriented
Examples: coupons, sweepstakes, trade shows, rebates, free samples
Public RelationsPublic Relations
the management function which evaluates public attitudes, identifies the policies and procedures of an individual or organization with the public interest, and executes a program of action to earn public understanding and acceptance.
PublicityPublicity nonpersonal communication regarding
the organization, product, service or idea that is not directly paid for nor run under identified sponsorship, usually coming from a news story, editorial, or announcement about an organization or its products and services
A tool in public relations along with promo videos, press kits,brochures, newsletters, etc.
PersonalPersonal SellingSelling involves the direct contact
between the buyer and seller in which the seller attempts to persuade and assist the prospective customers to purchase the company’s products or service or to act on an idea.
Direct MarketingDirect Marketing Communication
delivered directly to the consumer to generate a response or a transaction Direct mail
catalogs, specialty promos
Telemarketing Direct selling Direct response
advertising
Social Media Marketing and ADsSocial Media Marketing and ADs
Utilizing social media platforms to form relationships with customers and prospects. Advertising PR Sales Promo
Trends in IMCTrends in IMC Reduced Dependence in Mass
Media Advertising Boom in Social Media options Increased Reliance on Highly
Targeted Communications Methods Greater Demands Imposed on
Marketing Communications Suppliers
Increased Efforts to Assess Communications ROI