Reflection paper
JasonB
weeklyreflection.docxWEEK 2
In today's course, I learned what market communication is, and its basic meaning is the exchange and dissemination of information. The basic model of communication includes source encoding, information channel, receiver and decoding.
Also, I learned that the advertising content of different products has different motivation and involvement by motivation.
Informational motivation is ‘negative’ that means wanting to remove problems.
Transformational motivation is ‘positive’ that means customers feeling good.
At the same time, we can classify goods as high or low involvement, and these can also be correlated with motivation criteria.
In this workshop, I have a question that I am not clear about how to clearly judge the motivation of the goods. I will confuse informational and transformational.
Week 3
In this week’s lecture, I learned a lot, firstly about MarCom’s strategic goals and its impact on profits, and secondly about marketing communications budget.
Marcoms can affect profit through price, cost, and sales volume. So when determining marketing goals, we need to fully understand the target audience, competitive environment, and market share.
At the same time, we have learned the importance of Partitioning, in which we can clearly perceive the competitive relationship and advantages of products in the same market, so that we can develop unique advantages of our products.
From the top down, the overall spending is determined before each AD campaign is calculated, and the priority of the AD is determined to ensure that it does not exceed the set spending target.
Bottom up is to determine the use of advertising campaigns according to their own business objectives, and calculate the expenditure of each advertising campaign to get the overall need for spending.
Through this week's study and discussion, I clearly understand that zoning can make me more competitive. In terms of budget, the two methods can actually be used together to make the final budget of the enterprise, which is more accurate than using the single method.
Week 4
In week 4 lecture, target market selection is an essential aspect which every organization considers for a successful management of the new customer base. In relation to professional experience, this is an area that calls for an intensive communication pattern that is important when dealing with various types of customers in the field. New category users will need a detailed explanation on the nature of the product but brand loyal (BL) only needs a simple reminder on the changes on the latest product. This was well explained under the competitive frame where true competition occurs. As discussed in the week’s study, new markets contain various types of customers that call for attention for them to be fully convinced to be trustees in the company. The Brand switchers tend to be very keen on the information given by the company during advertisement in that should the company provide a different market mix then a different set of customers will be convinced to follow it, this is why this knowledge is important to me as a market to understand the demands of the target customer. As mentioned in the week’s study, market segmentation has enabled investors to have an easy way in selecting a new market that is likely to feed back to the company easily and rapidly.
In this week's lecture,there are different effects of marketing communication to a buyer. They include; category need that relates to the impact of the buyer feeling a given product will meet their needs. Brand awareness. Brand attitude relating to impacting the consumers' beliefs about a given product while brand purchases effect, and finally purchase facilitation, ensuring there is no hindrance to buy the product, such as high prices. However, there is a need to have a creative strategy that ensures the communication approach is unique and effective for the target audience. The key elements in creative communication are having a creative strategy and having the right creative tactics to grab most of the customers' attention and influence them to buy your products. Having these in mind and identify the right strategy or tactics for each target audience will yield to more returns and increase the sales in both potential customers and existing customers.
Week6
This week focused on media strategy, a subject structure under marketing communications. The chapter broadly captures the development of a media plan, the media selection process, media scheduling, and the components of media scheduling. I learned that any media strategy adopted always begins with a plan before selecting the media to invest. A lot of consideration is put on where to advertise, expose the targeted audience, and deciding which components of media to adopt.
The media selection process then follows, putting in mind decisions such as the media that will play a significant role and each medium's characteristics: the strength and weaknesses and thoroughly evaluating each medium. Lastly, the media scheduling which considers the reach and frequency and the components and types of media scheduling. In conclusion, budgeting considerations are also a significant factor in determining which media strategy to adopt.
Week7
This week focused on the evaluation of marketing communications effectiveness. The chapter captures measuring the effectiveness of marketing communications and evaluating the methods of measuring marketing communications effectiveness. Also, the measurement of evaluation effectiveness which can be measured using leading; intermediated measure of brand health and lagging indicators.
Measuring the effectiveness of marketing communications is crucial as it paves the way for evaluation, which improves one's strategy. Preceding the process of measurement are the reasons for or against measuring the effectiveness of marketing communications effectiveness. The process includes what to test, when to test, and the testing methods. Then the evaluation, post-testing, begins with methods of evaluating such as market mix modeling. The effectiveness is also measured using leading and lagging indicators.
The knowledge obtained from this chapter is beneficial in enhancing my group project and overall marketing communications learning. Measurement and evaluation provide a way of improving marketing strategy and tactics. Additionally, it allows correcting inefficiencies on time, especially in my group project exercise and overall marketing communications strategy. Another essential benefit is providing metrics to plan the marketing strategy to take to determine costs to incur. Lastly, this will help one consider incurring the costs of measuring marketing communications effectiveness as it has much overall advantage of an improved marketing communications strategy.
Week 8
This week we looked at the Marcoms mix, which includes TV, broadcast, OOH billboards or print ads, digital display ads,SEO, social media, mobile marketing, and more.
And the case I'm most interested in this week is Wrigley's "Extra Reminde" campaign. His OOH ads use electronic screens around checkout counters to prompt customers.
Unlike many of today's ads, Wrigley's used a more direct approach to remind customers that if they're buying flavorsome food, they need gum! This different way of advertising will attract the attention of customers, which is conducive to building brand awareness. Wrigley's way of bringing bad breath to consumers' attention is to offer a solution to the problem. This is beneficial to influence consumers' buying behavior and attract more customers.
Wrigley's ads let me know that there are many similar ads in the market at present, such as social media, TV and E-mail, which will make consumers feel "bored". This new advertising idea not only has a lower cost, but also can better mobilize the interaction psychology with consumers. Besides, I think I can use some innovative strategies to attract consumers with the I am Grounded products from different psychological perspectives.
Week 9
This week, I learned two marketing methods, direct communication and promotion in the media mix.
The campaign I chose is Domino’s email promotion. Since I am a loyal customer of Domino, I always receive promotional emails from Domino, which is not only a coupon for a single product. Domino will always provide coupons for different product combinations for you to choose. If there is no combination you want, there will also be a discount coupon for the total price. This should meet the needs of most consumers. I learned that due to the diversity of customers, there should be more promotions to meet the needs of different customers.
I will use this idea into ‘I am grounded’ in terms of, first, understanding customer needs, then establish a new promotion method, and recommend a better combination of products to customers according to the customer's choice, which can best be personalized. This can develop long-term customers and increase the loyalty of existing customers. But this is not a way to attract potential customers.
Week 10
In this week's lecture, we've looked at three media methods: owned, earned and paid media. I also learned two different marketing methods of WOM and PR.
In my own cognitive, WOM is a very efficient way of marketing, but it belongs to eraned media, the company unable to control the evaluation of WOM. if in my personal life when I buy a good product, I will definitely recommend it to my friends around me. Similarly, When someone recommends a product to me, I will actively search for it. This is a very direct marketing approach that allows consumers to directly choose a particular product.
Meanwhile, as for PR, I will apply it to our project. Since IAG is a brand of environmental protection, I will use its environmental protection content: recycling useless coffee fruit for product manufacturing to reduce waste. This will not only build a very good relationship with the public, but also create a brand awareness of environmental friendly for the company.
