MAR 2323- MARKETING MANAGEMENT Year - II 1st Semester 2011/ 2012

MAR 2323- MARKETING MANAGEMENT Year - II 1st Semester 2011/ 2012

Communicating Customer Value: Integrated Marketing Communications Strategy Session Outline The Promotion Mix Integrated Marketing Communications Communication Process Developing

Effective Marketing Communication Setting the Total Promotion Budget and Mix The Promotion Mix Promotion Mix (Marketing Communication Mix) The specific blend of promotion tools that the

company uses to persuasively communicate customer value and build customer relationships. Advertising Word of Mouth Marketing Events and Experience

s Sales Promotion The Promotion Mix Interactive

Marketing Direct Marketing Personal Selling Public Relations and

Publicity Integrated Marketing Communications (IMC) Large companies now routinely invest millions or even billions of money in television, magazine or other massmedia advertising, reaching tens of millions of customers with a single ad. However, no other area of marketing is changing so profoundly as marketing communications, creating both exiting and scary times for marketing

communications. The Need for Integrated Marketing Communications Carefully integrating and coordinating the companys many communications channels to deliver a clear, consistent and compelling message about the organization and its products. Carefully Blended Mix of Promotion Tools

Adv WoM SP Consistent, clear and compelling company and brand messages

Events & Exp PS PR & Pub IM DM

Communication Process Developing Effective Marketing Communication 1. Identifying the Target Audience What will be said?

Who will say it Where it will be said? Target

Audience How it will be said? When it will be said?

2. Determining the Communication Objectives Once the target audience has been defined, the marketer must decide what response they seek. Buyer-Readiness Stages The stages consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction and purchase. Buyer-Readiness Stage

Awareness Knowledge Liking Purchase Conviction

Preference 3. Designing a Message The message should be able to get Attention, hold Interest, arouse Desire and obtain Action (AIDA). Message Content Message Structure Message Format

4. Choosing Media The communicator must now select channels of communication. Personal Communication Channels Nonpersonal Communication Channels 5. Selecting the Message Source Credibility of sources??

6. Collecting feedback After sending the message, the communicator must research its effect on the target audience. Setting the Total Promotion Budget and Mix Setting the Total Promotion Budget Affordable Method

Percentage of Sales Method Competitive Parity Method Objective and Task Method Shaping the Overall Promotion Mix The concept of integrated marketing

communications suggests that the company must blend the promotion tools carefully into a coordinated promotion mix. But how does the company determine what mix of promotion tools it will use? Companies within the same industry differ greatly in the design of their promotion mixes. Advertising Any paid form of

nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor. Sales Promotion Short-term incentives to encourage the purchase or sale of a product or service.

Buy it now Personal Selling Personal presentation by the firms sales force for the purpose of making sales and building customer relationships. Public Relations & Publicity Building good relations with the companys various publics by obtaining favorable publicity, building a good

corporate image, and handling or heading off unfavorable rumors, stories and events. Direct Marketing Direct connections with carefully targeted individual customers to both obtain an immediate response and cultivate lasting customer relationships. Direct mail

Online marketing E-mail Interactive Marketing Online activities and programmes designed to engage customers or prospects and directly or indirectly raise awareness, improve image or elicit sales of products and services. Events and Experiences

Company-sponsored activities and programmes designed to create daily or special brand-related interactions. Word of Mouth People-to-people, oral, written or electronic communications that relate to the merits or experiences of purchasing or using products or

services. Promotion Mix Strategies Push versus Pull Promotion Strategy Push strategy Producer marketing activities Producer

Retailers and wholesalers Reseller marketing activities Consumers Push versus Pull Promotion Strategy Pull strategy

Demand Producer Retailers and wholesalers Demand Producer marketing activities

Consumers Integrating the Promotion Mix Start with customers Analyze trends internal and external that can affect the companys ability to do business Audit the pockets of communications spending throughout the organization Team up in communications planning Create compatible themes, tones and quality across all

communications media Create performance measures that are shared by all communications elements Appoint a director responsible for the companys persuasive communications effort Consistent, clear and compelling company and

brand messages Summary and Conclusions

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