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UNIT VII STUDY GUIDE Integrated Marketing Methods and Tools Learning Objectives Reading Assignment Chapter 17: Designing and Managing Integrated Marketing Communications Chapter 18: Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations Chapter 19: Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling Chapter 20: Introducing New Market Offerings Key Terms 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Advertising objective Buyer-readiness stage Catalog marketing Consumer generated advertising Impact Informational appeals Interactive marketing Marketing communication Marketing public relations Mobile marketing options Social media Venture teams MBA 5501, Advanced Marketing Upon completion of this unit, students should be able to: 1. Illustrate each function of the advertising objective. 2. Explain the marketing communications mix and its value to the overall marketing strategy. 3. Discuss the pros and cons of interactive marketing. 4. Explain new product development. Written Lecture Marketing communications is an organic process. Consumer needs constantly change, as do their preferred methods of attention-garnering methods. Technology answers the call with innovative software and hardware solutions, either tethered or “in the clouds.” The environment for marketing communications is anything but static. Determining where to allocate resources demands that marketers understand the individualized stages of the buying process for the product or service. More specifically, at any given stage, what will have the most influence on the buying process? This is most effective when the marketer remains media neutral and devises a strategy that evaluates all communication methods and uses the most effective one per any given stage. Developing an effective communication plan is an evaluative process like so many other marketing processes. Identifying the target audience is the foundation. It is imperative in allocating resources (budget, scheduling, etc.), but if done ineffectively, it will certainly be revealed in post-evaluation. Another preplanning activity that is critical is determining the communications objectives for the product or service. In recent years, automaker Kia needed the public to consider it a viable option for Toyota and Honda. Kia’s objectives were one that changed brand attitude, as opposed to the other three objectives: category needs, brand awareness, and brand purchase intention. The next step is designing the communications: message strategy, creative strategy, message source. Message source sometimes involves a celebrity spokesperson or capitalizing on a long history. For instance, Wells Fargo Bank continues to use its stage coach logo, thereby reminding consumers that they survived the Wild West. Selecting an appropriate communications channel is a matter of deciding if the route will be personal (face-to-face, phone, e-mail, etc.) or non-personal (advertising, sales promotions, events and experiences, and public relations). Modern marketing demands that its practices be as innovative as current technology allows. But, sometimes a simple, traditional method with a history of success is what is best. The billboard industry, for instance, has embraced digital technologies and offers products that rival any on New York’s Broadway. This has developed a new consumer class: public schools. PTAs across the country are leasing space to billboard companies in order to generate sorely need revenue. Another method with a long history is the use of public spaces. Consider the last time you pumped gas. The signage at the pump, that on the 1 store front windows, and inside the store, all advertised something that the consumer could get at that location in addition to gas. Public spaces can be as confined as buses or as big as an airport. The City of Atlanta (owner of Hartsfield-Jackson international Airport) recently lost a protracted court battle over the bidding process for billboard space inside the airport’s public areas. Possible estimated revenue? Over $75 million per year for Atlanta. Events and experiences are another critical element in the integrated marketing communication plan. Home shows, Disney on Ice, college bowls, pay-per-view specials, all have one thing in common: each of these is an event designed to identify with a specific target market. Whether to unify consumers by lifestyle, re-enforce commitment to social issues, or to evoke special feelings—organizers must be careful to maintain control of marketing goals. The same can be said for programs that invite sponsorship. Non-profit organizations, such as trade associations, often host events and raise revenue by inviting pertinent vendors to be a sponsor. Lastly, tourism boards entice consumers by offering experience destinations. The World of Coca-Cola (Atlanta) and the Bacardi Museum (San Juan, P.R.) both offer more than opportunities to sample and purchase product. Each qualifies as a museum, rich with history and artifacts and uses state-of-the art technology for display purposes. Both are incredible consumer experiences. Personal communication (direct marketing) and interactive marketing hinge on the product or service creating and maintaining a personal relationship with the consumer. When used with other methods of communication and channel activities, direct marketing creates a unique experience for the consumer—one tailored to their needs. According to your textbook, direct mail can be personalized, is flexible, and its effectiveness can be readily measured. Catalog and telemarketing lend to the personal communications selling as well. But catalog is, by far, the larger revenue generator thanks to the Internet. Consumers often have the option to opt-in to the updates and modes of delivery they want. For instance, a JC Penney catalog shopper can review their shopping history, as well as request that only once-a-week e-mails be sent concerning sale items. Interactive marketing 2.0 can be categorized as using search ads, display (banner) ads, and e-mail. But, mobile marketing is definitely “3.0”. Advertisers must create digital ads that are compatible with mobile phones and tablets. Marketers must design programs that include mobile technology and customer loyalty like foursquare (Lee, 2011). Remember the old shampoo commercial with the tag line “she told two friends, and they told two friends”? In the 1970s, that was word of mouth marketing. Modern day technologies and consumer empowerment have morphed word of mouth delivery into hyper-speed. Social media is more than Facebook. It is online communities and forums, such as the CSU Alumni discussion group on LinkedIn. Additionally, blogs and opinion leaders can be a producer’s biggest champion or worst nightmare. On page 551, your textbook highlights passages from Malcolm Gladwell’s book, The Tipping Point and Dan & Chip Heath’s book, Made to Stick. Both delve into social media from a human level; who and how information is shared and why some of it gains traction and some never will. You should be close to completing your marketing plan. During this unit you will want to wrap up the previous questions and aim to get all of the new questions completed within this unit. In the next unit, you will create an executive summary MBA 5501, Advanced Marketing 2 and compile all of your revised components together into one plan. If you fall behind, you will not have time to receive feedback from your professor. The new questions can be found under the assignments section of the study guide. Manage your time wisely and complete your components early in order to receive timely feedback from your instructor. References Lee, E. (2011). Is Dennis Crowley the pied piper of silicon alley? Advertising Age, 82(29). Retrieved from ebscohost.com. McKay, R. (2010, October 2). AJC investigation: Undersold ad space undercuts airport. Atlanta Journal and Constitution. Retrieved from ebscohost.com. MBA 5501, Advanced Marketing 3