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PROMOTIONAL MIX- (INTEGRATED Market communication mix)(IMC) Specific…
PROMOTIONAL MIX- (INTEGRATED Market communication mix)(IMC) Specific blend of promotion tools that the company uses to engage consumers, persuasively communicate customer value and build customer relationships. DELIVER A CLEAR, CONSISTENT AND COMPELLING MESSAGE ABOUT BRANDS MESSAGES
ADVERTISING Broadcast, Print, internet, mobile, outdoor
SALES PROMOTION discounts, coupons, displays, demonstration, sweepstakes
PERSONAL SELLING sales presentations, trade shows, and incentive programs
PUBLIC RELATIONS- press release, sponsorships, event marketing, webpages
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- PUBLIC GENERAL (everyone)
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DIRECT AND DIGITAL MARKETING- direct mail, cataloges, online and social media
Any paid form of non personal presentation and promotion of ideas, goods, services- Out of home like bus, billboard
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Personal customer interaction by firms sales force for purpose of making sales and building relationships, Trained staff, One-to-one, face-to-face typically, provides human touch
Building good relationships with company's various publics by obtaining favourable publicity, handling rumours, stories, events
Engaging directly with carefully targeted individuals to obtain immediate response and build lasting relationships
PROS: Can reach masses of geographically dispersed buyers at a low cost per exposure, repeating messages many times, Creates customer trust because of its public nature
CONS: Impersonal, one-way communication, Costs are high, Broadcast channels- not targeted and therefore not as a efficient(mass marketing)
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8 ADVERTISING APPEALS
1.HUMOUR- lighthearted, enjoyable, memorable
2.COMPARISON- proof of competing products, direct is another brand is mentioned or indirect not named
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4.LIFESTYLE--adventuresome, fastpaced, urban
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7.SEX-appeal in certain product, risky since may alienate consumers
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PROS- Saves money when used proactive, Ideal for influencing opinions/need recognition, Believable and reaches people who resit advertising(People see as news)
CONS- uncertain- cant control its use or message, could be negative, cant control when and if you receive placement
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PREMIUMS- Free (toy) with purchase, Free Sample is an effective way of getting trial usage cuz it eliminates financial risk new product
PROS- Offers strong incentives to purchase, quick consumer response Trial Purchase Repeat Purchase * Multiple Purchase
CONS- Effects are short lived, mot as effective as as advertising or personal selling in building relaitionships
Starts with list of possible consumer such as emails, phone numbers and home address. Goal is "narrowest" to a targeted audience likely to be
PROS- Communicate directly, reaches customers with tailored messages, encourages action/response, measurable
CONS- Percieves as SPAM or Junk, Price per touch is higher(physical mail)
PROS- 2 way exchange, understand customer needs, customized response, build relationships, ideal when price high, helps to overcome risk MOST EFFECTIVE TOOL
CONS- Most Expensive, 300+ per touch, messaging can be inconsistent, longer term commitment
TRIAL- introducing new product, make purchase right away so might send coupon
REPEAT PURCHASE- loyalty offers so consumers continue buying, coupon with a product that can be redeemed on next purchase
MULITPLE PURCHASE- contest like mcdonalds, savings that increase on additional purchases
STEPS IN SELLING PROCESS
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HANDLING OBJECTIONS- obstacle a salesperson must confront and resolve if sales completed. An objection is a cue that buyer wants more info
APPROACH- Initial contact, must capture attention/interest
CLOSING- asking for order, most difficult step
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COMPANIES FAIL TO INTEGRATE VARIOUS COMMUNICATIONS BECASUE COMMUNICATIONS COME FROM DIFFERENT PARTS OF THE COMPANY
How do I know which tools to use? Consider Target and how they behave, Check Budget, Determine timing,