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Marketing 4: Sustaining Competitive Advantage: Price and Promotion (IMC…
Marketing 4: Sustaining Competitive Advantage: Price and Promotion
Chapter 5
Most commonly used marketing communication formats
direct and interactive marketing
word of mouth
Events and experiential marketing
personal selling
Sales Promotion
public relations
Advertising
IMC Process
Exposure
Attention
Understanding
Positive Attitude Creation
Incentive to Act
Behavior
IMC (Naik)
(1)IMC Perspective
Synergies
Diminished Individual Effectiveness
Integration
(2) 4 Big Ideas
Scientific Advertising
Unique Selling Proposition
IMC
Brand Image
(3) Practice of IMC
3 Principles
(4) Principles of IMC
Traditional Advertising (Propositions 1+2)
IMC Framework
Measurement of Synergy
Multimedia Budgeting in the Presence of Synergy (Proposition 3)
Multimedia Allocation in the Presence of Synergy (Proposition 4)
Advertising Carryover Effects in the Presence of Synergies (Proposition 5+6)
Catalytic Effects of Synergy (Proposition 7)
Extending IMC to uncertain environments (Proposition 8+9+10)
(5) Current Trends
Price Promotions
Closed Loop IMC
Direct to Customer Advertising
Biased Parameter Estimates
Trade Show
Interaction Effects between Activities
Consumers multi-tasking
How to Stop Customers from Fixating on Price (Bertini)
Strategy 2: Willfully Overprice to Stimulate Curiosity
Strategy 3: Partition Prices to Highlight Overlooked Benefits
Strategy 1: Use Price Structure to Clarify Advantage
Strategy 4: Equalize Price Points to crystallize Personal Relevance
Social Media (Mangold)
(2) Paradigms: traditional vs new communications
New Paradigm
Power of Discussions on Social Media
Traditional Communications Paradigm
Changes in Management´s Attitudes and Assumptions
(3) Shaping the Discussions
3 Methods
(1) Social Media´s Hybrid Role
2 promotional Roles
Why it is a hybrid Element
Consumers and Control