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02 The Role of IMC in the Marketing Process McGraw-Hill/Irwin Copyright © 2012 McGraw-Hill Companies, Inc., All right reversed Marketing & Promotions Process Model 2-2 Marketing Strategy and Analysis Strategic Marketing Plan Opportunity Analysis Competitive Analysis Target Market Selection 2-3 The Target Marketing Process Identify markets with unfulfilled needs Determine market segmentation Select a market to target Position through marketing strategies 2-4 Target Market Identification Isolate Consumers With Similar… Social class Lifestyles Economic status Geographic location Marital status Age Needs 2-5 Bases for Market Segmentation Demographic Geographic Socioeconomic Gender Region Income Age City size Education Race Metropolitan area Occupation Life stage Density Birth era Household size Psychographic Residence tenure Personality Marital status Values/Lifestyle 2-6 PRIZM Social Groups HIGH $ LOW 2-7 Segments Undifferentiated Concentrated Differentiated 2-8 Positioning Strategies Attributes and Benefits Price/Quality Use/Application Product Class Product Users Competitors Cultural Symbols 2-9 The Marketing Planning Program Product Decisions Promotional Strategy Distribution Channels Price Decisions 2-10 Branding Goals Build & maintain brand awareness and interest Develop & enhance attitudes toward the company, product, or service Build & foster relationships between the consumer and the brand 2-11 Branding and Packaging Decisions BRANDING Brand name communicates attributes and meaning Advertising creates and maintains brand equity PACKAGING Has become increasingly important Often the customers’ first exposure to product 2-12 Pricing Decisions Factors the firm must consider What consumers give up to buy a product or service Costs Time Demand Mental activity Competition Behavioral effort Perceived value 2-13 Channels and Image • Channels can impact communication objectives • Image • Store displays • Point-of-purchase merchandising • Shelf footage 2-14 Types of Channels • Direct • Driven by direct-response ads, telemarketing, the Internet • Often used when selling expensive and complex products • Indirect • Network of wholesalers and/or retailers 2-15