November 19 Notes

Communicating with Customers Integrated Marketing Communications ? Toward a Single Voice What you should know? Key elements of the communications process Components of the communications ?mix? Why, and how, to be strategic in using the components. A General Communications Model Key Model Components Encoding ? creating the message Source effects Message effects Decoding ? receiving the message Receiver characteristics Knowledge Motivation/involvement Situation Applied Communications: The Marketer?s Toolbox The promotional mix Non-personal selling Advertising Sales promotion Direct marketing Public relations and publicity Personal selling Viral marketing Guerilla marketing? Developing MarCom Strategy Step 1: Analyze product/market relationships Step 2: Determine communications objectives Step 3/4: Develop media strategy Step 3/4: Set budget Step 5: Review and evaluation ? did it work? Step 1: The Product-Market Relationship Who is the target market? End user vs. reseller Consumer segment/s Where is the brand in the PLC? What is the competition? Step 2: Setting Communication Objectives Consumers? side Awareness Interest Demand Adoption Marketers? side ? Get attention ? Differentiate ? Persuade ? Remind Getting Attention: Creating Brand Awareness Types of attention Spontaneous Selective Involuntary Getting perceived Thresholds revisited Contrast effects Standing Out: Differentiation Objectives Generate interest Convey value Build brand image Being Persuasive: Developing Demand Persuasion ? communication intended to induce belief, attitude, or behavior Compliance v. persuasion Building Equity: Reinforcing Behavior Communication to remind and build loyalty Strengthen brand associations Humor Uniqueness Repetition Step 3/4: Build Media Strategy Create the promotion mix Integrate communications tools to convey message/s to target audience/s Select channel strategy Push strategy Pull strategy Develop the ?appeal? (whole form of the message) Type of appeal Structure of appeal Step 3/4: Set Budget Typical approaches Top-down Percentage-of-sales Competitive parity Bottom-up Objective-task Fixed-sum-per-unit Things to take into account Organizational factors Market potential Market size Step 5: Evaluate the Program Direct assessment, e.g., Product sold Profit generated Market share gained Coupons redeemed Indirect assessment Brand recall and recognition Attitude change