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Dr. Close INTEGRATED MARKETING COMMUNICATIONS (IMC): ADVERTISING, PROMOTION, PR, AND DIRECT MKTG "Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does." -- Steuart Henderson Britt McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Strategic Goals of Mkt Comm Create awareness Build positive images Identify prospects Build channel relationships Retain customers V S IMC Integrated marketing communications Disjointed campaigns are horrible Use SYNERGISTIC combination of your tools Message should be complementary/ consistent (VW Bug as retro-hip) Experts who specialize must work together Don’t have to choose between sales promo, personal selling, & ads (use some of each to reach more of your target market) IMC Tool: Advertising Promotion Methods a.k.a. The Promotion Mix Advertising: paid, impersonal promotions by identified sponsor(s) Traditional big markets, but adaptable to smaller Low cost/contact (LA Times: 2 cents/per) Difficult to measure impact Not adaptable, inflexible IMC Tool: Sales Promos Promotion Methods (cont…) Sales promotion (coupons, POP, samples, tradeshow) Added value or incentive in regard to a particular product May complement personal and mass selling (bonus) Targets Final consumers: coupons, freq. shopper Middleman: gifts, price breaks Company sales force: bonuses, training $3 SP for $1 ads IMC Tool: Publicity and PR Promotion Methods (cont…) Publicity; unpaid, impersonal promotions (talk show, movie premiere, charity, cars, etc; Rosanne) Do not pay media costs (magazine article) Perceived credibility; negativity Publicity has far more value than advertising, but you must give reporters a reason to write about you. Photo: Michel O’Sullivan IMC Tool: WOM/eWOM Promotion Methods (cont…) Word of mouth: “WOM is the most important marketing element that exists” Gordon Weaver, Paramount Pictures. Do you agree? Unpaid, personal promotions (after ads – PLC) Very high credibility (friends, business acquaintances, employees) Try for opinion leaders (may pay to stimulate; teens; movies; fashions) Usually negative (respond to complaints) IMC Tool: Personal Selling Promotion Methods (cont…) Personal selling; paid, personal promotions; direct spoken communication Adaptable to each target Immediate feedback Very expensive ($200/contact) More spending on p.s. than ads Integrated Marketing Approach How Various Promotion Tools Might Contribute to the Purchase of a Hypothetical Product McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Some Differences between Traditional Marketing Communication Efforts and Integrated Marketing Communications McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Advertising: Planning and Strategy Objectives Generalist viewpoint – Concerned with sales, profits, and return on investment Middle viewpoint – Sees advertising as a competitive weapon Specialist viewpoint – Concerned with the effects of specific ads or campaigns In the long run and often in the short run, advertising is justified on the basis of the revenue it produces Approach that aids intelligent decision making is needed McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Developing Advertising Objectives: Nine Questions Does the advertising aim at immediate sales? Does the advertising aim at near-term sales? Does the advertising aim at building a long-range consumer franchise? Does the advertising aim at helping increase sales? Does the advertising aim at some specific step that leads to a sale? McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Developing Advertising Objectives: Nine Questions How important are supplementary benefits of advertising? Should the advertising impart information needed to consummate sales and build customer satisfaction? Should advertising build confidence and goodwill for the corporation? What kind of images does the company wish to build? McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Advertising Decisions Key decisions to be made include Determining the size of the advertising budget Allocation of the advertising budget Important to remember that brand equity and consumer preference for brands drive market share McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved