Marketing Lecture 17 IMC / Viral Marketing

IMC is within what stage?
PROMOTION stage
Why communicate with consumers?
(1) Communicate benefits
(2) Build brand image
(3) Educate
(4) Develop positioning
(5) Convince to purchase
IMC
(Integrated Marketing Communications) The company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its product or service
What are the elements of the Communications Mix?
~Advertising
~Personal Selling
~Sales Promotion
~Public Relations
~Direct Marketing
What are tools of Advertising?
Print / Radio / TV / Internet
What are tools of Personal Selling?
Trade Shows / Sales Presentations
What are tools of Sales Promotion?
Coupon / Discount / Display / Demonstration
What are tools of Public Relations?
Press Releases / Events / Lobbies
What are tools of Direct Marketing?
Catalog / Telemarketing / Internet / Fax
For IMC, _______ is the key to a consistent image/message/brand
Coordination
Consumer response process for innovation adoption
(1) Awareness
(2) Internet
(3) Evaluation
(4) Trial
(5) Adoption
Viral Marketing
The use of a self-perpetuation mechanism to grow a user base in a manner similar to the spread of a virus
What are subcomponents of Viral Marketing?
~Word-of-mouth
~Networking effects
~Online viral marketing
How does Viral Marketing succeed?
(1) Strength of virus
(2) Applicability (contextual relevance / ecosystem) to the general population
The Tipping Point
The precise moment when an idea, virus, product, message or campaign “tips”, and in so doing goes from zero to hero
The Tipping Point includes…
Law of the Few
Law of Stickiness
Law of Context
Law of the Few
Sets up the ecosystem; regardless of the virus strength, a set of people must exist who will spread it for you…
(1) Mavens
(2) Connectors
(3) Salespeople
Mavens
Role models and experts (for credibility and exposure)
EX: Celebrities
Connectors
Know everyone (for diffusion)
EX: College students
Salespeople
For communicating and closing deals; really believe in product
Law of Stickiness
The content of your message; what determines WHY it should spread
~Simplicity is key
~Humor/Emotion must be tied
Law of Context
The content of your message; what determines WHY it should spread
~”Contextual relevancy” ; To communicate value and facilitate adoption; it also has to provide practical information
~ Simple message / sets up ecosystem
Advertainment
Video/Media based online advertising
Why Advertainment?
Avoids the need to have a product with a “wow” factor in order to generate buzz
Pros of Viral Marketing
~Inexpensive
~Extremely powerful
Cons of Viral Marketing
~Hit or miss
~Inability to control message