Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Principles of Marketing Lecture-32 Summary of Lecture-31 Place….Distribution Channel….Marketing Channel Right Place Right Cost Right Product Right Time Right Condition Compete on value (not just price.) Save customers time and energy. Make shopping fun. Today’s Topics Marketing Communications Simple Marketing System Communication Product/Service Producer/Seller Money Feedback Consumer Promotion and Its Goals Informs Builds Relationships Persuades Reminds Informing Persuading Basic Promotion Objectives Reminding Why is it so Hard to Get A Consumer’s Attention? Sensory overload (too many stimuli but limited info. processing ability) Lack of consumer interest or motivation to process stimuli Perceptual defense The Marketing Communications Mix Advertising Any Paid Form of Nonpersonal Presentation by an Identified Sponsor. Personal Selling Personal Presentations by a Firm’s Sales Force. Sales Promotion Short-term Incentives to Encourage Sales. Public Relations Building Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity. Direct Marketing Direct Communications With Individuals to Obtain an Immediate Response. Integrated Marketing Communications The concept under which a Company Carefully Integrates and Coordinates Its Many Communications Channels to Deliver a Clear, Consistent, and Compelling Message About the Organization and Its Products. Advertising Packaging Event Marketing Message Direct Marketing Public Relations Personal Selling Sales Promotion The Communication Process Source Feedback Receiver Encoding Message Noise Decoding Channel Encoding The Message – Words – Sounds – Colors – Space – Themes – Symbols – Pictures – Numbers – Gestures – Movement The Message Channel or Medium DECODING – Words – Sounds – Colors – Space – Themes – Symbols – Pictures – Numbers – Gestures – Movement OBJECTIVE ENCODING = DECODING Source Encoding Message Channel Noise Feedback Decoding Receiver Marketing Communications Objectives Increase Market Penetration Develop Repeat Purchase Behavior Establish Customer Relationships Increase Rate of Consumption Encourage Product Trial Stimulate Impulse Buying Stimulate Demand Differentiate the Product Establish a Product Image Influence Sales Volume Establish, Modify, or Reinforce Attitudes Stimulate Interest Establish Understanding Build Support & Acceptance Steps in Developing Effective Communication Step 1. Identifying the Target Audience Step 2. Determining the Communication Objectives (Buyer Readiness Stages) Awareness Knowledge Liking Preference Conviction Purchase Step 3. Designing a Message Message Content Rational Appeals Emotional Appeals Moral Appeals Message Structure Draw Conclusions Argument Type Argument Order Attention Interest Message Format Headline, Copy, Color, Words, & Sounds, Body Language Desire Action Step 4. Choosing Media Personal Communication Channels Nonpersonal Communication Channels Step 5. Selecting the Message Source Step 6. Collecting Feedback Setting the Total Promotion Budget Affordable Method CompetitiveParity Method Percentageof-Sales Method Objectiveand-Task Method AIDA Model Attention Interest Desire Action Promotion Marketing activities used to communicate positive, persuasive info about an organization, its products and its activities to a target audience Purpose: to directly or indirectly create sales, influence consumers. Setting the Promotion Mix Advertising Reaches Many Buyers, Expressive Impersonal Personal Selling Personal Interaction, Builds Relationships Costly Sales Promotion Provides Strong Incentives to Buy Short-Lived Public Relations Believable, Effective, Economical Underused by Many Companies Direct Marketing Nonpublic, Immediate, Customized, Interactive Advertising A paid form of non-personal communication about an organization and/or its products to a target audience through a mass medium. Personal selling The direct presentation of a product to a prospective customer by a representative of the selling organization. Sales promotion Demand-stimulating activity designed to supplement advertising and facilitate personal selling. Public relations A planned communication effort by an organization to contribute to generally favorable attitudes and opinions toward an organization and its products. Direct Marketing Direct connections with carefully targeted individual consumers to obtain an immediate response and cultivate lasting customer relationship Relative Importance of Promotion Tools Consumer Goods Business Goods – Advertising – Personal selling – Sales promotion – Sales promotion – Personal selling – Advertising – Publicity – Publicity Changing Face of Marketing Communications New Marketing Communications Realities Marketers Have Shifted Away From Mass Marketing Less Broadcasting Improvements in Information Technology Has Led to Segmented Marketing More Narrowcasting Enough for today. . . Summary Promotion and Its Goals Informs Builds Relationships Persuades Reminds The Marketing Communications Mix Advertising Any Paid Form of Nonpersonal Presentation by an Identified Sponsor. Personal Selling Personal Presentations by a Firm’s Sales Force. Sales Promotion Short-term Incentives to Encourage Sales. Public Relations Building Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity. Direct Marketing Direct Communications With Individuals to Obtain an Immediate Response. The Communication Process Source Encoding Message Channel Noise Feedback Decoding Receiver Steps in Developing Effective Communication AIDA Model Attention Interest Desire Action Next…. Advertising Principles of Marketing Lecture-32