Marketing assignment(include calculation)

Marketing Communications

Unrestricted

“Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion

or elicit a response.”

What is promotion?

• A plan for the optimal use of the elements of promotion:

• Advertising • Public relations • Personal selling • Sales promotion • Social media

• Positions a product or brand in the marketplace • Highlights the competitive advantage

Promotional strategy

• One or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors

• Features like: • High product quality • Rapid delivery • Low prices • Excellent service • Unique features

Competitive advantage

Competitive advantage

Communication

Communication

“Process by which meanings are exchanged or shared through a common set of

symbols.”

What is communication?

• Interpersonal • Direct and face-to-face • Two or more people

• Mass communication • A message or concept • For large audiences • Through a mass medium

Communication

Communication Process

• Consumers can now be senders of messages • Can also send feedback and comment publicly on

marketing efforts • Platforms enable customized messages and feedback

Social media and the internet

• Informative: • Converts an existing need into a want or stimulates interest

in a new product

• Persuasive: • Stimulates a purchase or action

• Reminder: • Keeps the product and brand in the public’s mind

• Connection: • Forms relationships with customers through social media

Goals of promotion

Informative promotion

Persuasive promotion

Reminder promotion

• Combination of promotional tools used to reach the target market and fulfill organization’s overall goals

• Tools: • Advertising • Public relations • Sales promotion • Personal selling • Social media

Promotional mix

• Advertising: any form of impersonal paid communication in which the sponsor or company is identified

Promotional mix

• Public relations: efforts to earn public understanding and acceptance, and educating stakeholders about the company’s goals and objectives

Promotional mix

• Sales promotion: marketing activities done to stimulate consumer purchasing

Promotional mix

• Personal selling: a purchase situation involving a paid-for communication between two people in an attempt to influence each other

• Both have objectives they wish to accomplish

Promotional mix

Digital media

Promotional mix

Promotional mix and AIDA

• Outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message

• Proposes that consumers respond to marketing messages in a cognitive, affective, and conative sequence

AIDA

• Coordination of all promotional messages for a product or service

Integrated marketing communications (IMC)

• Coordination of all promotional messages for a product or service

Integrated marketing communications (IMC)

• Coordination of all promotional messages for a product or service

Integrated marketing communications (IMC)

• Coordination of all promotional messages for a product or service

Integrated marketing communications (IMC)

• Nature of the product • Stage in product life cycle (PLC) • Target market characteristics • Type of buying decision • Funds available for promotion • Push or pull strategy

What influences the promotional mix?

What influences the promotional mix?

• Target market characteristics

• More advertising and promotion (and less personal selling) is needed when the target market has:

• Widely scattered potential customers • Highly informed buyers • Brand loyal repeat purchases

What influences the promotional mix?

Business decisions Promotional mix

Routine Advertising and sales promotion

Neither routine nor complex Advertising and public relations

Complex Personal selling and print advertisements

What influences the promotional mix?

• Available funds

• Cost per contact • Higher for personal selling, public relations, and sales

promotions • Low for national advertising (like buying in bulk)

What influences the promotional mix?

What influences the promotional mix?