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process of conveying a message to others

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Communication

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company/person with information to convey

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Source

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information sent by a source

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Message

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who/what conveys the message, e.g. salesperson, advertising media, public relations tool Receiver = consumer who reads, sees, hears the message

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Channel of communication

question

process of having the sender transform an idea into a set of symbols

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Encoding

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process of having the receiver interpret the message

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Decoding

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mutually shared understanding that will facilitate appropriate understanding of messages

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Field of experience

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reactions of receiver after receiving message

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Response

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part of the receiver's response communicated back to the sender

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Feedback

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interference with effective communication/interpretation

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Noise

question

course of a product's sales & profits over its lifetime

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Product life cycle

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selection of the most effective channel(s) to communicate the message to the target market

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Channel strategies

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what the communication/message aims to accomplish, e.g. use of models ranking progressive stages of consumer awareness-action, like AIDA or AIETA models

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Promotional objectives

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how much to spend on each element of the promotion mix

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Promotional budget setting

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consumer sales promotional tool that uses a brand-name product in a movie, TV show, video game, or commercial for another product

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Product placement

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conversations on social media you control

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Owned Social Media

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conversations on social media outside your control

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Earned Social Media

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1)advertising 2)public relations 3)direct marketing 4)personal selling 5)sales promotion

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5 tactical elements of the Marketing Communications Mix

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includes print, broadcast, Internet, outdoor, etc.;

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advertising

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includes press releases, sponsorship, special events

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public relations

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includes catalogs, telemarketing, kiosks, Internet (again), etc.;

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direct marketing

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includes sales presentations, trade shows, incentive programs

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personal selling

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includes p.o.p., premiums, discounts, coupons, etc.

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sales promotion

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1)Huge improvements in information technology are propelling movement toward segmented marketing. 2)Shift away from mass marketing to focus on micro-markets.

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Two major factors are changing today's marketing communications:

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any paid form of non-personal communication about an organization, a product, service, or an idea, by an identified sponsor

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ADVERTISING

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1. product advertisements 2. institutional advertisements

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2 types of advertising:

question

focus on selling product/service

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Product advertisements

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aims to build goodwill or an image for an organization; often used to support public relations plan or counter adverse publicity

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Institutional advertisements

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number of different people/households exposed to an ad

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reach

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number of times person in target audience is exposed to ad

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frequency

question

% of households in market tuned to particular TV show or radio station; this is 'reach' for radio & TV

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rating

question

reach (as % of total market) x frequency = commonly used reference number to judge success of campaign

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gross rating points

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cost of reaching 1000 individuals/households with ad message in a given medium

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cost per thousand (CPT)

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- state position of a company on an issue

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Advocacy advertisements

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(informational) - inform the target market

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Pioneering

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- announce what an organization is, what it can do, where it is located, etc.

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Pioneering advertisements

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- persuade target market to choose our brand over others

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Competitive (persuasive)

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promote the advantages of one product over another e.g. America's milk processors & dairy farmers promote milk over other beverages

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Competitive advertisements

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reinforce previous knowledge of product

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Reminder

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1)Identify the target audience 2)Specify advertising objectives 3)Set the advertising budget 4)Design the advertisement - message content - create the message 5)Select the media - reach & frequency 6)Schedule advertising 7)Pre-test 8)Execute - full-service agency / limited service agency / in house 10)Post-test 11)Make changes

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Developing the Advertising Program

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1)TV 2)Radio 3)Magazines 4)Newspapers 5)Yellow pages 6)Internet 7)Outdoor 8)Direct mail

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Media options

question

communicates with sight & sound; reaches 98.9% US households very expensive; perishable; complexity hard

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TV

question

low cost; target specific local audiences; use sound, humor, & intimacy effectively no visual

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Radio

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target specific audiences; high quality color; long life ads; can convey complex info long lead times; relatively high cost; compete with magazine feature articles

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Magazines

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program-length (30-minute) advertisements that provide educational communication to potential customers e.g. Nutrisystem, Bowflex; highly successful infomercial run by Barack Obama in last presidential campaign - attracted 33.5 million viewers

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Infomercials

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is a segmented medium; > 14,000 radio stations in the US

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Radio

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2-way communication between buyer & seller, designed to influence the purchase decision

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PERSONAL SELLING

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planning the selling program, and implementing and evaluating the company's personal selling effort

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Sales management

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= help sales efforts of order getters

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Customer sales support

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promote products and introduce new products; don't usually sell directly themselves; especially in pharmaceutical industry

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Missionary salespeople

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cross-functional team work, especially in complex technological situations; specialized knowledge is needed

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Team selling

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getting the order from the customer

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Closing

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specific sales goals assigned to a salesperson, team, branch office, etc, for a stated time period

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Sales quota

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statement of what sales are to be achieved, and where and how salespeople will be deployed

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Sales plan

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team selling focus on important customers, in order to foster long-term relationship

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Key account management

question

ability to understand one's own emotions and the emotions of people with whom one interacts daily

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Emotional intelligence

question

Sales force Training Sales force Motivation Compensation

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Sales Force Training & Motivation

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non-personal, indirectly paid presentation of an organization, product or service; most frequently-used public relations tool

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Publicity

question

methods of obtaining non-personal presentation of an organization, product or service without direct cost; e.g. news releases, news conferences, public service announcements

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Publicity tools

question

credibility

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Advantage

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lack of control

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Disadvantage

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short-term incentives to stimulate interest in buying a product or service

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SALES PROMOTION

question

discounted price encourages consumer trial; 89% US consumers use coupons; they work despite lower revenues

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Coupon

question

short-term price reductions to induce trial; e.g. 'two-fer' (2 for the price of one)

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Deal

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merchandise offered free or at significant discount; customers are encouraged to return more often or to use more product

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Premium

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consumers apply skill to win prizes

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Contest

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games of pure chance

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Sweepstakes

question

free product or product at greatly reduced price; often used for new products; 'trial size' is smaller than regular size

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Samples

question

tool to encourage repeat purchases by promising rewards as purchases accumulate; credit card reward programs are very successful in the US; rewards customizable

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Loyalty programs

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free-standing display usually in high-traffic area and usually holding product; designed to maximize exposure and encourage impulse purchases

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Point of purchase (POP)

question

return of money offered on proof of purchase; customer must take time and trouble to apply for rebate by mail; this discourages many customers, so redemption rate is low

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Rebates

question

brand-name products used in movies, TV shows, video games; integration into these shows confers authenticity

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Product placements

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reimbursement for retail support on proof of performance

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Allowances

question

reduction of price, usually for finite period

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Discounts

question

manufacturer contributes to retailer's advertising expenses, often 50%, up to a certain $ limit

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Cooperative advertising

question

manufacturer trains reseller's sales force, in order to be more effective in selling its products; also participate in incentive and recognition programs

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Sales force training

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using direct communication with carefully targeted individual consumers to generate an immediate response and cultivate long-term customer relationships

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DIRECT MARKETING

question

result of offers containing all info necessary for prospective buyer to make purchase decision, and complete transaction

answer

Direct orders

question

result of offer intended to generate interest in product/service, and request additional info

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Lead generation

question

outcome of offer to motivate people to visit a business

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Traffic generation

question

directs marketing activities at resellers, to make customer aware at point of purchase, e.g. p.o.p. displays

answer

PUSH strategy

question

encourages the customer to seek out your brand, to stimulate customer demand, e.g. advertising, mass media, word of mouth

answer

PULL strategy

question

Awareness,Interest,Desire,Action

answer

AIDA

question

Ran a PR campaign four months prior to launch, promoting award, stylists, qualifications etc. and was reinforced through a direct marketing campaign to targeted customer groups.

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Awareness:

question

Executed a direct mail campaign to offer a free consultation or hair cut and finish. They used research to support that this would work, as females are loyal if the offer is compelling.

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. Interest

question

Close to the opening of the new salon, they ran exclusive local launch events which was advertised through local press and social media. This created a local buzz for 'people wanting an invite' and excited to see the new salon.

answer

Desire:

question

Clear CTAS (calls to action) were positioned on the Facebook site (call to reserve), the website (call to book) and local advertising (call in to receive discount or the offer).

answer

. Action

question

online media where users submit comments, photos, videos, often accompanied by a feedback process to identify popular topics

answer

Social Media

Classes 23 &24 Marketing Concepts Cohen UNCC – Flashcards

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