IBM 307-ch 1

Communicating
transmitting, receiving, and processing info. It occurs when the receiver comprehends the info
Communication Process
contains 5 steps & plays a key role in the advertising and marketing process
Sender
Step 1 in Communication Process: the individual or company that wants to send a marketing message to consumers or businesses
Encoding
Step 2 in Communciation Process: form of verbal & nonverbal cues, process of taking the message & putting it into an ad, brochure, or sales presentation.
Transmission Device
Step 3 in Communciation Process: The TV, paper on which brochure is printed, or salesperson at retail store
Decoding
Step 4 in Communciation Process: process of interpreting the marketing message
Receiver
Step 5 in Communciation Process: the consumer or business buyer who receives message or decodes message sent
Feedback
Step 6 in Communciation Process: takes form in receivers response to senders. It includes: purchases, inquiries, complaints, questions, store visits, etc.
Noise
distorts or disrupts message (can occur at any stage )
Clutter
most common form of noise affecting marketing communications.
Integrated Marketing Communications (IMC)
the coordination and integration of all marketing communications tools, avenues, and sources in a company into a seamless program designed to maximize the impact on customers and other stakeholders
combines all marketing mix
-includes b-to-b, channel, customer Internal comm.
Marketing Mix
Price, Product, Distribution, and Promotion
Steps of IMC Plan
-current situational analysis
-SWOT analysis
-marketing objectives
-target market
-marketing strategies
-marketing tactics
-implementation
-evaluation of performance
current situational analysis
involves examination of current market situation
SWOT analysis
study the factors in the organizations current internal and external environments, strengths, weaknesses, opportunities, threats
marketing objectives
establishes targets such as higher sales, increase in market share, new competitive position, desired customer actions (visiting a store).
Paired with key targets
marketing strategies
-based on target markets and marketing objectives
-apply to every ingredient in marketing mix & include positioning, differentiation, and branding strategies
marketing tactics
guide day-to-day activities necessary to support marketing strategies
what should marketing be viewed as?
marketing investment, not expense
content grazing
involves looking at two or more screens simultaneously (ex TV & texting)
Investigative spider webbing
consumer pursues or investigates specific content across multiple platforms (ex: watching football & looking up stats)
quantum journey
focuses on completing a specific task (ex: looking up restaurant, looking at reviews, then going to maps to look for it)
social spider webbing
consumer shares content or info across multiple devices (ex: posting on FB and texting friends about it)
brand parity
when consumers believe that various brands provide the same set of attributes (quality becomes less of a concern bc consumers perceive only minor differences)
contact point
any place where a consumer interacts with or acquires addition info about a firm
components of promotion
-Advertising
-digital marketing
-social media
-alternative marketing
-database marketing
-direct response
-personal selling
-sales promotion
-PR
Micro-marketing
AKA one-on-one marketing, focus on individuals & small groups
-ad agencies help