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MRK Communication (Promotional Mix (Advertising (Non -personal…
MRK Communication
Promotional Mix
Coordination of all seller-initiated efforts to set up channels of infor and persuasion to sell goods and services or to promote an idea.
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Advertising
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Cost-efficient
Cost-effective
Brand communication effect
Brand interactions
Flexible tools
Multiple domains
Sales Promotion
Activities providing extra value or incentive to sales force, distributor or consumer
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Publicity
Non-personal communications regarding an org, product, service or idea
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Internet Marketing
Interactive media
allows for execution of each element of the marketing mix
interactive features of social media facilitate communication amongs users and are a powerful means of brand influence.
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IMC
Evolution-Original Definition
- Coordinates various promotional and MRK activities which communicate with a firm's customers.
- Evolves as companies realized the need for strategic integration of promotional tools.
- Provides clarity, consistency, and maximum communications impact.
IMC is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects employees and other relevant external and internal audiences.
- Audience contacts
- Customer's point of view
- Relationship Marketing
- Customer adoption of technology and media
- Planning efficiency and effectiveness
Target audience -> Persona -> IMC (strategic business used to plan, develop, executive)
Persona: A buyer persona is a semi-fictional representation of your ideal customer based on market research and real data about your existing customers. When creating your buyer persona(s), consider including customer demographics, behavior patterns, motivations, and goals. The more detailed you are, the better.
IMC Management: Process of planning, executing, evaluating, and controlling the use of promotional mix elements to communicate effectively with TA
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Review the MRK plan -> Assess the MRK communication situation -> Determine objectives -> develop IMC programs -> implement and control IMC plan
Product decision
Product Types
Offering may come in form of a physical good, a service, a cause, an idea, or even a person
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Brand Identity
MRK communication presents the brand and its
identification in situations that allows customers review it possitively
Brand Equity
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Marketing communication creates the messaging around the brand or corporate image to create positive associations.
Brand Equity provides the company with a competitive advantage to allow its product have higher sales volume or higher margin than it could be without a name.
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Distribution Decision
Marketing communication often provides information as to where a product can be purchased or what kinds of service might be available in various locations.
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