Integrated Marketing Communications (IMC)

• Integrated Marketing Communications (IMC) involves coordinating various promotional methods to ensure brand messaging is consistent across all channels.
• IMC integrates advertising, public relations, sales promotions, direct marketing, and digital marketing.

Types of Marketing Communications in IMC Campaigns

• Advertising: Paid promotion through various media channels.
• Public Relations: Managing the spread of information between an organization and the public.
• Sales Promotions: Short-term incentives to encourage purchase.
• Direct Marketing: Communicating directly with target customers.
• Digital Marketing: Using online channels like social media and email.

Product Advertising vs. Trade Advertising

• Product Advertising: Designed to create demand for specific products.
• Trade Advertising: Aimed at intermediaries to encourage them to stock the product.

Primary Goal of Sales Promotions

• The primary goal of sales promotions is to stimulate immediate sales.

Promotional Advertising

• Aims to inform consumers about a product and encourage them to purchase.
• Examples include coupons, discounts, contests, and samples.

Public Relations

• Public relations involves managing a company's reputation by communicating with the public, media, and other stakeholders.
• Examples of public relations include press releases, media events, and community involvement.

Event Marketing

• Event marketing involves creating or sponsoring events to promote a brand or product.

Sponsorship

• Sponsorship provides financial or other support to an event, activity, or organization in exchange for promotional opportunities.

Issues and Trends Affecting Advertising

• Digitalization and the rise of social media.
• Increased consumer control over the marketing message.
• Data privacy concerns.

Database Management System

• Software that manages and organizes data in a structured format.
• Allows for efficient storage, retrieval, and analysis of data.

Direct Response Communications

• Direct response communications are aimed at eliciting an immediate response from consumers.
• It's important because of its ability to track and measure results directly.

CRM - Customer Relationship Management

• CRM: Customer Relationship Management.
• Manages interactions with current and potential customers, streamlining sales processes, and improving customer service.

Maslow's Hierarchy of Needs

• Physiological Needs: Basic needs like food, water, and shelter. (e.g., grocery stores, apartments).
• Safety Needs: Security and protection. (e.g., insurance, security systems).
• Social Needs: Love, belonging, and acceptance. (e.g., social clubs, dating apps).
• Esteem Needs: Achievement, status, and respect. (e.g., luxury cars, designer clothing).
• Self-Actualization Needs: Self-fulfillment and personal growth. (e.g., education, travel).

Motive

• A motive is an internal factor that directs a person's behavior towards satisfying a need.

Self Concept Theory Components

• Actual Self: How we perceive ourselves.
• Ideal Self: How we would like to be.
• Social Self: How we believe others see us.
• Ideal Social Self: How we want others to see us.
• Marketers focus on ideal and social self components.

Attitudes

• Attitudes are learned predispositions to respond to an object or class of objects in a consistently favorable or unfavorable way.
• Attitudes are formed through experience, learning, and social interaction.

Selective Retention

• Selective retention is the tendency to remember information that aligns with existing beliefs and attitudes.

Selective Exposure

• Selective exposure refers to individuals' tendency to favor information that reinforces pre-existing views, avoiding contradictory information.

Selective Perception

• Selective perception is the process by which individuals perceive what they want to in media messages while disregarding opposing viewpoints.

Reference Group

• A reference group is a collection of people that one uses as a standard of comparison for themselves regardless of whether they are part of that group.

Double Targeting

• Double targeting involves marketing a product to two distinct consumer segments, commonly targeting multiple demographics.

Consumer Market vs. Business-to-Business Market

• Consumer Market: Individuals purchasing goods/services for personal consumption.
• Business-to-Business (B2B) Market: Businesses purchasing goods/services for use in their operations or for resale.

Three Elements of Strategic Planning

• Determining the organization's mission.
• Identifying strategic goals.
• Developing strategies to achieve those goals.

Types of Competition

• Direct Competition: Similar products that compete for the same customers.
• Indirect Competition: Different products that satisfy the same need.
• Monopoly: Only one company with no competition.

SLEPT Analysis

• Social
• Legal
• Economic
• Political
• Technological

Difference Between Strategy and Tactic

• Strategy: A long-term plan to achieve a goal.
• Tactic: A specific action to implement a strategy.

Direct vs. Indirect Competition

• Direct Competition: Businesses offering nearly identical products or services
• Indirect Competition: Businesses providing alternatives that consumers might choose to satisfy the same need or want.

Consumer-Generated Content (CGC)

• Consumer-Generated Content is any form of content, such as blogs, wikis, discussion forums, posts, chats, tweets, podcasts, digital images, video, audio files, advertisements and other forms of media.

Mission Statement

• A mission statement is a brief description of a company's fundamental purpose.

Marketing Plan

• A document that outlines a company's marketing strategy, tactics, and goals.

Levels of Strategic Planning

• Corporate Level: Decisions that affect the entire organization.
• Business Level: Decisions focused on specific business units or divisions.
• Functional Level: Decisions related to specific functions like marketing, finance, and operations.

Corporate-Level Strategies

• Growth Strategies: Expanding market share, entering new markets, or diversifying products
• Stability Strategies: Maintaining the current market position without significant changes
• Retrenchment Strategies: Reducing operations or refocusing resources.

SWOT Analysis

• SWOT analysis identifies a business’s Strengths, Weaknesses, Opportunities, and Threats

Marketing Planning Process Steps:

• Situation Analysis: Understand the current market, customers, and competitive environment.
• Setting Objectives: Define specific, measurable, achievable, relevant, and time-bound goals.
• Developing Strategies: Determine the marketing mix (product, price, place, promotion).
• Implementation: Execute the marketing plan.
• Evaluation and Control: Measure results, compare against objectives, and make adjustments.

Demographics

• Demographics are statistical data relating to the population and particular groups within it.

Psychographics

• Psychographics classify people according to psychological variables: attitudes, interests, opinions, personality, values, and lifestyles.

Objective

• An objective is a measurable action required to achieve a goal.

Advertising Budgets

• Percentage of Sales: Allocating a fixed percentage of sales revenue to advertising.
• Competitive Parity: Matching the advertising spending of competitors.
• Objective and Task: Setting specific objectives and determining the advertising tasks needed to achieve them.

Product Analysis

• A product analysis evaluates the features, benefits, and market position of a product to identify its strengths and weaknesses.

Target Market Analysis

• Target market analysis identifies and profiles potential customers.

Market Analysis

• A market analysis is a study which examines the attractiveness and the dynamics of a special market within a special industry.

Brand

• A brand is a unique identity and promise that distinguishes a product or service from its competitors.
• Elements of a brand include: name, logo, slogan, and reputation.

Stages of Brand Loyalty

• Brand Recognition: Consumer is aware of the brand.
• Brand Preference: Consumer chooses the brand over others if available.
• Brand Insistence: Consumer will only accept the brand.

Brand Equity

• Brand equity is the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.

USP - Unique Selling Proposition

• The single factor that separates one product from its competitors.

Types of Positioning

• Head-On Positioning: Directly comparing a brand to competitors based on similar attributes.
• Leadership Positioning: Positioning a brand as the leader or pioneer in the industry.

Elements of the Communication Process

• Sender: The entity that sends the message.
• Encoding: Converting the message into understandable symbols.
• Message: What is being communicated
• Channel: The vehicle through which a message travels to a receiver.
• Receiver: The target of the message.
• Decoding: The process by which the receiver interprets the sender's message.
• Feedback: Response from the receiver.
• Noise: Anything that interferes with effective communication.

Attribute

• An attribute is a specific feature or characteristic of a product or brand.

Creative Brief

• A document that outlines the key elements of an advertising campaign, including the objective, target audience, message, and tone.

ACCA

• Attention, Comprehension, Conviction, Action

Key Benefit Statement

• A key benefit statement clearly articulates the main advantage a product or service offers the consumer, typically focusing on solving a problem or fulfilling a need.

Appeal Techniques

• Emotional Appeals: Target consumers' emotions, such as fear, humor, or love.
• Rational Appeals: Focus on logical arguments and factual information.
• Moral Appeals: Address a sense of what is right and wrong.

Explore Integrated Marketing Communications (IMC), coordinating promotional methods for consistent brand messaging across channels. Understand advertising, public relations, sales promotions, direct and digital marketing. Differentiate between product and trade advertising and the primary goal of sales promotions.