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Marketing Chapter 17 Managing Marketing Communications Gilbert A. Churchill, Jr. Irwin/McGraw-Hill J. Paul Peter © The McGraw-Hill Companies, Inc., 1998 Slide 17-1 Table 17.1 Some Strategic Goals of Marketing Communications Strategic Goal Description Create awareness Inform markets about products, brands, stores or organizations. Build positive images Develop positive evaluations in people’s minds about products, brands, stores or organizations. Identify prospects Find out the names, addresses and possible needs of potential buyers. Build channel relationships Retain customers Increase cooperation among channel members. Irwin/McGraw-Hill Create value for customers, satisfy their wants and needs, and earn their loyalty. © The McGraw-Hill Companies, Inc., 1998 Slide 17-2 Figure 17.1 The Communication Process Source Encodes Message Receives Decodes Message Source Transmits Message via Medium Receiver Provides Feedback to Source Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Slide 17-3 Figure 17.2 The AIDA Model Marketing Communications Attention Irwin/McGraw-Hill Interest Desire Action © The McGraw-Hill Companies, Inc., 1998 Slide 17-4 The Communications Mix Advertising Sales Promotion Irwin/McGraw-Hill Personal Service Publicity © The McGraw-Hill Companies, Inc., 1998 Slide 17-5 Comparing the Elements of the Communications Mix Advertising Personal Selling Sales Promotion Publicity Communications Mode One-Way Two-Way One-Way One-Way Marketer Control Over Message High Medium-High High Low Long Term, Ongoing Activity Yes Yes No No Considered an Unbiased Source No No No Yes Message can be Customized for each Customer No Yes No No Short Term Focus No No Yes No Cost per Contact Low High Varies Overall Cost High Low Varies No Direct Cost No Direct Cost Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Slide 17-6 Managing Communications Strategy Set Communications Objectives Select the Communications Mix Set Communications Budgeting Implementation and Control Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Slide 17-7 Figure 17.3 Two Marketing Communications Approaches Push Strategy Producer Marketing Communications Resellers Marketing Communications End Users Pull Strategy Marketing Communications Producer Irwin/McGraw-Hill Request Products Resellers Request Products End Users © The McGraw-Hill Companies, Inc., 1998 Slide 17-8a Table 17.3 Methods for Setting Communications Budgets Method Advantage Percentage of sales • Simple to use Fixed sum per unit • Marketer likely to benefit Disadvantage • Budgeting based on expected sales implies communications can’t improve sales performance from increasing the budget during times of rising sales Competition- • Takes into account based competitors’ activities • Amounts budgeted will be reasonable if competitors are budgeting effectively • Decreasing the communications budget during periods of falling sales could be disastrous in some cases • Can be difficult to get competitors’ budget information • Can lead to ever-increasing communications budgets • Assumes competitors have the same objectives Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Slide 17-8b Table 17.3 Methods for Setting Communications Budgets Method All you can afford Advantage • Takes into account limited resources • May stimulate creativity in making funds work hard Objective and task • Based on achieving communications objectives • Focusing on objectives uses funds most efficiently Disadvantage • Doesn’t consider marketing objectives • Borrowing may be worthwhile to fund some communications strategies • No basis for setting priorities among objectives • Treats all objectives as equally worthy of funding • Hard to estimate what will it cost to achieve a particular objective Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Slide 17-9 Evaluating the Effectiveness of Marketing Communications Sales Sales Changes Changes What Marketing Research Why Irwin/McGraw-Hill Happened it Happened ? ? © The McGraw-Hill Companies, Inc., 1998