Chapter 12 Part1 - Lecture notes/ Module 11 PDF

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Clear and descriptive lecture notes cover the material and extra examples to help enhance understanding and clarity of the concepts and have greater practical comprehension. These notes supplemented my success in the course, and I attained an A letter grade with 98% in the course. Reading these note...

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CHAPTER 12 Blend of promotional TOOLS (5 KEY ELEMENTS): 1. Advertising 2. Sales promotion 3. Personal selling 4. Public relations (PR) 5. Direct and digital marketing ^^ you can use one or a combination What purpose do they serve? 1. inform prospective buyers about the benefits of the product 2. persuade them to try it 3. remind them later about the benefits they enjoyed New Marketing Communications Model Factors making changes to that: -

Changing consumers Changing marketing strategies Advancement in digital technology Traditional media dominance declining Now highly targeted media to engage smaller communities with more personalized/interactive content

-- Focusing on more narrow marketings, deeper consumer research Images in blogs, social media, and digital outlets to communicate with customers

Traditional media decline, instead of more targeted and interactive content rather than mass communication Reach narrower audiences -- more interactive and targeted More engaging digitally as compared to tv and newspaper Content marketing Inspire, share, create a brand message make the brand a part of consumer conversation in daily lives

INTEGRATED MARKETING COMMUNICATIONS (IMCs)

- Use one or combination of any of the 5 - Communication should be compelling and single-minded using a combination of the tools - Eg. Land Rover (IMC) different platforms but similar message and identity, brand DNA is consistent - the message of “above and beyond” - Tools are the consumer touchpoint

ADVERTISING Consumers think advertised products are more legit Mass audience - but very expensive & impersonal Can make huge boosts in the sale & build a long term image

+ Advantages? Efficient to reach large audience Can be attention getting Communicate specific features & benefits to consumers informational Can control what you say to whom and when - Disadvantages? Very expensive (airtime + production costs) Lack of direct feedback (one way communication)

Personal Selling consists of the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision. Now virtual or phone call + Advantages? Customizable, immediate feedback, persuasive, good for complex info Control to whom the presentation is made to – reducing any wasted coverage You can see their reaction, and adjust your message & approach - Disadvantages? Very expensive (headcount & salaries of sales rep) and messaging may differ from sales rep to sales repà lack of consistency (training might be different)

Public Relations =communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other public about a company and its products or services.

Publicity =a non-personal, indirectly paid presentation of an organization, product, or service. -Ex: news story, editorial, product announcement -Not paying for the ad space (TV or radio) but trying to get the medium to run a favorable story + Advantages? Credibility in the minds of the consumer as brand story told by someone other than the brand, The idea that it is a third party coverage Effective when consumers lack brand or product knowledge -Disadvantages? Hard to control the media and the type of coverage you will get, has exploded with social media and as a medium it can be hard to manage/control the message You cant be sure if that media or news is gonna give out a positive or not

Sales Promotion

Intensifying short-term inducement of value offered to arouse interest in buying a product or service. Encourage that short time purchase Examples= coupons, rebates, sweepstakes, contests

Trial purchase : very first purchase made by a consumer from a brand. Basically trying out the brand.

+ Advantages? Effective to drive short term interest/incentive Help to increase store traffic, generate trial purchases

-Disadvantages? Easily duplicated, can lead to promotion wars If done too often (coupon) customers will come to expect it and wait for it Consumers will wait for those incentives to come...