Chapter 16: Marketing Communications Key Concepts/Notes – Flashcards

1) Product/Solution/Experience/Purpose 2) Price/Cost/Value/Exchange *3) Promotion/Communication/ Engagement/Education/Evangelism* 4) Place/Distribution/Access/Convenience/Every Place

1) The goal of any promotion is to get someone to buy a good or service, or take some action. >A classic model for reaching promotional goals is called the AIDA concept—attention, interest, desire, and action—the stages of consumer involvement. 2) This model proposes that consumers respond to marketing messages: cognitive (thinking) -> affective (feeling) -> conative (doing)

*Most useful in gaining the attention for goods and services* The AIDA model outlines the four basic stages in the purchase decision-making process, which are initiated and propelled by promotional activities: (1)attention, (2)interest, (3)desire, and (4)action. The components of the promotional mix have varying levels of influence at each stage of the AIDA model.

New Balance Hubway is a bike-sharing system located in Boston Massachusetts designed to augment existing transportation systems in the greater Boston area.

Communication can be divided into two major categories: 1) Interpersonal communication: direct/face-to-face 2) Mass communication: large audiences Owned (Paid) vs. Earned (Unpaid)

Promotional strategy is the plan for using the elements of promotion—advertising, public relations, sales promotion, personal selling, and social media—to meet the firm's overall objectives and marketing goals. Based on these objectives, the elements of the promotional strategy become a coordinated promotion plan. The promotion plan then becomes an integral part of the total marketing strategy for reaching the target market along with product, distribution, and price. Promotional strategies have changed a great deal over the years as many target customer segments have become harder and harder to reach.

The communication process has several steps. When an individual or organization has a message it wishes to convey to a target audience, it encodes that message using language and symbols familiar to the intended receiver and sends the message through a channel of communication. Noise in the transmission channel distorts the source's intended message. Reception occurs if the message falls within the receiver's frame of reference. The receiver decodes the message and usually provides feedback to the source. Normally, feedback is direct for interpersonal communication and indirect for mass communication. The Internet and social media have had an impact on the communication model in two major ways.

Combination of promotion tools used to reach the target market and fulfill the organization's overall goals. Includes: >Advertising >Sales Promotion >Public Relations >Publicity >Personal Word of Mouth >Personal Selling >Sponsorships/fundraisers >Social Media can fit all of above. Most promotional strategies use several components of promotion, which may include advertising, public relations, sales promotion, personal selling, and social media to reach the target market. The more emphasis is placed on a particular promotional element, the more important that element is considered to be in the overall promotional mix.

*The goal is to get our targets to understand the brand, to believe in the brand, and to act to exchange!* *Promotion has three basic tasks: inform, persuade, remind* The fundamental goals of promotion are to induce, modify, or reinforce behavior by informing, persuading, reminding, and connecting. Informative promotion explains a good's or service's purpose and benefits. Promotion that informs the consumer is typically used to increase demand for a general product category or to introduce a new good or service. Persuasive promotion is designed to stimulate a purchase or an action. Promotion that persuades the consumer to buy is essential during the growth stage of the product life cycle, when competition becomes fierce. Reminder promotion is used to keep the product and brand name in the public's mind. Promotions that remind are generally used during the maturity stage of the product life cycle. Connection promotion is designed to form relationships with customers and potential customers using social media. Most importantly: build a relationship

The elements of the promotional mix include advertising, public relations, sales promotion, personal selling, and social media. Advertising is a form of impersonal, one-way mass communication paid for by the source. Public relations is the function of promotion concerned with a firm's public image. Sales promotion is typically used to back up other components of the promotional mix by stimulating immediate demand. Personal selling typically involves direct communication, in person or by telephone; the seller tries to initiate a purchase by informing and persuading one or more potential buyers. Finally, social media are promotion tools used to facilitate conversations among people online.

*Marketers determine what roles each aspect of the promotional mix will play in the marketing mix. This includes the timing of promotions and examining campaign results. These activities are generally coordinated by the marketing communications director.* Integrated marketing communications is the careful coordination of all promotional messages for a product or service to ensure the consistency of messages at every contact point where a company meets the consumer—advertising, sales promotion, personal selling, public relations, and social media, as well as direct marketing, packaging, and other forms of communication. Marketing managers carefully coordinate all promotional activities to ensure that consumers see and hear one message. Integrated marketing communications has received more attention in recent years due to the proliferation of media choices, the fragmentation of mass markets into more segmented niches, and the decrease in advertising spending in favor of promotional techniques that generate an immediate sales response.

Promotion managers consider many factors when creating promotional mixes. These factors include the nature of the product, product life-cycle stage, target market characteristics, the type of buying decision involved, availability of funds, and feasibility of push or pull strategies. As products move through different stages of the product life cycle, marketers will choose to use different promotional elements. The amount of funds a firm has to allocate to promotion may help determine the promotional mix. If a firm uses a push strategy to promote the product or service, the marketing manager might choose to use aggressive advertising and personal selling to wholesalers and retailers. If a pull strategy is chosen, then the manager often relies on aggressive mass promotion, such as advertising and sales promotion, to stimulate consumer demand.

Target Audience ^^^^^^^^ 1) Inform (Introduction/Early Growth) 2) Persuade (Growth) 3) Remind (Maturity) 4) Connect (All PLC Stages)

a marketing technique of creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defined audience - with the objective of driving profitable customer action 1. Infographics 2. Podcasts 3. Webpages 4. Videos 5. Books