* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download the marketing communication mix
Social media marketing wikipedia , lookup
Elaboration likelihood model wikipedia , lookup
Advertising management wikipedia , lookup
Food marketing wikipedia , lookup
Affiliate marketing wikipedia , lookup
Sales process engineering wikipedia , lookup
Product planning wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing research wikipedia , lookup
Target audience wikipedia , lookup
Ambush marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Marketing channel wikipedia , lookup
Digital marketing wikipedia , lookup
Target market wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Multi-level marketing wikipedia , lookup
Viral marketing wikipedia , lookup
Marketing plan wikipedia , lookup
Marketing strategy wikipedia , lookup
Sensory branding wikipedia , lookup
Internal communications wikipedia , lookup
Multicultural marketing wikipedia , lookup
Green marketing wikipedia , lookup
Street marketing wikipedia , lookup
Global marketing wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Direct marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA POSTGRADUATE DIPLOMA IN BUSINESS MANAGEMENT MARKETING STRATEGY Integrated Marketing Communication and Advertising Hafeez Rajudin Chartered Marketer THE MARKETING COMMUNICATION MIX A company’s total communications mix – also called its promotion mix consists: ADVERTISING SALES PROMOTION PUBLIC RELATIONS PERSONAL SELLING DIRECT MARKETING THE MARKETING COMMUNICATION MIX ADVERTISING: “Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor” THE MARKETING COMMUNICATION MIX SALES PROMOTION “Short-term incentives to encourage the purchase or sale of a product or service” THE MARKETING COMMUNICATION MIX PUBLIC RELATIONS “Building good relations with the company’s various publics by obtaining favourable publicity, building up a good corporate image, and handling or heading off unfavourable rumors, stories and events” THE MARKETING COMMUNICATION MIX PERSONAL SELLING “Personal presentation by the firm’s sales force for the purpose of making sales and building consumer relationships” THE MARKETING COMMUNICATION MIX DIRECT MARKETING “Direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships – the use of telephone, mail, fax, e-mail, the Internet, and other tools to communicate directly with specific consumers” THE CHANGING COMMUNICATIONS ENVIRONMENT There are two major factors changing the face of today’s marketing communications: 1. Focused marketing programs designed to build closer relationships with customer in more narrowly defined micromarkets. THE CHANGING COMMINICATIONS ENVIRONMENT 2. Vast improvements in information technology are speeding towards segmented marketing. THE COMMUNICATION PROCESS noise SENDER noise noise ENCODING FEEDBACK MESSAGE RESPONSE MEDIA noise noise DECODING noise noise RECEIVER The Communication Process 1. Sender: The party sending the message to another party. 2. Message: The set of symbols that the sender transmits. 3. Decoding: The process by which the receiver assigns meaning to the symbols encoded by the sender. 4. Receiver: The party receiving the message sent by another party. 5. Response: The reactions of the receiver after being exposed to the message. 6. Feedback: The part of the receiver’s response communicated back to the sender. 7. Noise: The unplanned static or distortion during the communication process which results in the receiver’s getting a different message than the one sender sent. STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION Step 1: Identifying the Target Audience Step 2: Determining the Communication Objectives Buyer Readiness Stages Awareness Knowledge Liking Preference Conviction Purchase STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION Step 3. Designing a message Message content Rational Appeals Emotional appeals Moral appeals Message Structure Draw Conclusions Argument Type Argument Order Message Format Headline, Copy, Color, Words & Sounds, Body Language ATTENTION INTEREST DESIRE ACTION STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION Step 4: Choosing Media Personal Communication Channels Non-personal Communication Channels Step 5: Selecting the Message Source Step 6: Collecting Feedback SETTING THE TOTAL PROMOTIONAL BUDGET Affordable Method Competitive-parity Method Percentage-of-Sales Method Objective-and-Task Method SETTING THE PROMOTIONAL MIX Nature of Each Promotional Tool 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 FACTORS IN DEVELOPING PROMOTION MIX STRATEGIES Push Strategy: “Pushing” the product through Distribution Channels to final Customer Pull Strategy: Producer Directs it’s Marketing Activities Towards Final Consumers to Induce them to Buy the Product Type of Product/market Buyer Readiness Stage Product Life-Cycle Stage CHANGIING 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 Narrow Forecasting INTEGRATED MARKETING COMMUNICATIONS Company Carefully Integrates and Coordinates its many Communication Channels to Deliver a Clear, Consistent, Compelling Message Advertising Packaging Event Marketing Message Direct Marketing Personal Selling Sales Promotion Public Relations