Podcast
Questions and Answers
What is the full form of ROI?
What is the full form of ROI?
Return on Investment
What is the primary goal of a marketing communication campaign?
What is the primary goal of a marketing communication campaign?
To communicate a message about the product or service to the target audience.
Choose the THREE main objectives of a marketing communication campaign.
Choose the THREE main objectives of a marketing communication campaign.
What does SMART stand for?
What does SMART stand for?
Signup and view all the answers
What is the difference between Micro-objectives and Macro-objectives?
What is the difference between Micro-objectives and Macro-objectives?
Signup and view all the answers
Which of the following are examples of "micro-objectives"?
Which of the following are examples of "micro-objectives"?
Signup and view all the answers
The effectiveness of a marketing communication campaign can be measured only by sales.
The effectiveness of a marketing communication campaign can be measured only by sales.
Signup and view all the answers
Which one of the following is NOT a way to measure brand awareness?
Which one of the following is NOT a way to measure brand awareness?
Signup and view all the answers
What is the primary difference between "explicit" and "implicit" attitudes toward a brand?
What is the primary difference between "explicit" and "implicit" attitudes toward a brand?
Signup and view all the answers
Which one of the following does NOT fall under the 4 Ps of Marketing?
Which one of the following does NOT fall under the 4 Ps of Marketing?
Signup and view all the answers
What is the key benefit of "Customer Co-Creation"?
What is the key benefit of "Customer Co-Creation"?
Signup and view all the answers
Match the following examples with their respective Customer Co-Creation approaches.
Match the following examples with their respective Customer Co-Creation approaches.
Signup and view all the answers
Study Notes
International Marketing Communication
- Course offered in Winter Semester 24/25
- Instructor: Dr. Anna Grimm
- Email: [email protected]
Agenda for the Course
- Definitions and Delimitations of Terms
- The Marketing Communication Process
- Culture and its importance for Marketing Communication
- International Marketing Communication & Branding: Standardization vs. Differentiation?
- The Marketing Communication Mix (reflected internationally)
- Relationships in the Communication Mix and Integrated Campaign Development
- Psychological Theories on the Impact of Communication
- Campaign Evaluation: How to measure Communication Success?
- Connecting the Ps: Interweaving of Communication and other Marketing Aspects
Campaign Evaluation
- Definition of marketing effectiveness
- Communication research (measures of communication success)
- Value and process of campaign evaluation
Defining Marketing Communication Effectiveness and ROI
- Return on Investment (ROI): Accounting-based term referring to the percentage of profit achieved on the basis of a given amount of expenditure (before taxes and other deductions).
- Example: If a company invests €100,000 in a campaign and it generates €150,000 in extra sales, ROI is 50%
- Marketing effectiveness considers not only monetary gains, but also broader communication objectives like increased brand perception, improved brand image, clearer understanding of brand values, and positive associations with the product.
Why Evaluating IMC Campaigns?
- Ideal allocation of limited resources by determining the most effective tools
- The effects of communication campaigns interact with each other, requiring continuous review for cost-effectiveness
- Thinking about KPIs (Key Performance Indicators) and potential evaluation in advance helps to plan campaigns strategically and efficiently
- Accountability to business decision-makers, especially helpful in fighting for budgets
Measuring Campaign Success: SMART Objectives and Examples
- Measuring campaign success is tied to pre-set SMART objectives
- Measurable criteria for success (examples) tied to varying objectives (awareness, interest, desire, action) depending on the specific communication objective.
- Measurable criteria examples include: increased brand awareness (via surveys), media coverage by third parties, brand search volume/name mentions (e.g., Google Trends), share of voice, content analysis, purchase/usage frequency
Why Setting SMART Objectives is Important
- Alignment of various measures in the IMC campaign
- Setting objectives before detailed campaign design
- Benchmarking as a baseline to assess subsequent changes (e.g., survey on unprompted brand awareness)
- Continuous monitoring during the campaign and adjustments if needed
- More detailed analysis at the end to measure whether the set goal was achieved
Micro vs. Macro-Level: Short- vs. Long-Term Objectives
- Most IMC campaigns have multiple objectives, some short-term others long-term
- Micro-objectives, like increasing purchases, are needed to achieve broader macro-objectives, like improving customer attitude towards the product
- The time horizon (short-term vs. long-term) is important in campaign evaluation
Measuring Campaign Success: Brand/Product Awareness
- Unprompted brand awareness: Target audience correctly names the brand without prompting.
- Prompted brand awareness: Target audience recognizes the brand when presented with a list of potential brands.
- Media coverage (online/offline), brand search volume (e.g., Google search, social media mentions), and share of voice (brand's mention relative to competitors)
- Measuring brand/product awareness through surveys, media coverage
Measuring Campaign Success: Brand/Product Attitude
- Explicit and implicit attitudes (e.g., surveys, tests like BrandTags.com) are a key component
- Important to measure both the frequency and quality of content related to the brand (e.g., social media, news mentions)
Measuring Campaign Success: Need Arousal/Desire
- Measuring consumer need for the specific product or a product in a comparable category
- Perceived importance of the product (e.g., surveys asking if the product would be a desirable purchase)
- Related behavioral data including consumer behavior in webshop visits (e.g., checking out items, adding to carts) and social media mentions
Measuring Campaign Success: Action/Usage Intention
- Self-reported behavior (how often have consumers purchased or used the product) is sometimes used to measure the campaign
- Behavioral intentions (would customers buy, recommend, or use the product)
- Real behavioral data (includes sales numbers, online/offline sales data, tracking online products)
Measuring Campaign Success: Excursions on Customer Satisfaction
- Customer satisfaction can be influenced by communication measures, and is a crucial KPI
- Net Promoter Score (NPS): Measures the likelihood of customers recommending the offering to a friend or colleague.
- Customer Retention Rate: Measures the company's ability to retain paying customers.
- Customer Satisfaction Score (CSAT): Measures how satisfied customers are with a product or service, typically measured at the time of transaction/purchase
Measuring Campaign Success: Placement
- Communication strategies must align with customer journey stages
- Message must be communicated at the right time and place
- Communication at the point of sale to encourage spontaneous purchases
Placement: Control Over Point of Sale Communication
- The control of the place aspect of the marketing strategy (e.g., physical locations, retailer displays, distribution channels) is important
- Solution approaches include establishing good relationships with distributors and providing them with the needed support and training.
- Cross-cultural considerations are essential for the distribution channel
Packaging
- High-quality packaging can signal and support product value, especially for luxury products
- Packaging can convey valuable product information at the point of sale (e.g., USPs) or attract consumer attention
- Packaging is a helpful communications tool
Price Communication
- Includes all measures concerning the presentation and communication of prices
- Companies may use low prices as a central USP to drive sales
- General trend in western countries is towards high-quality products with prices that signal this
Price vs. Costs
- Even with cost-based pricing decisions, the product must communicate an appropriate value to the consumer
- The way price is displayed (e.g. using "19 cent" or similar language) impacts consumer perception of the product
Consistent Price Communication
- Differentiated pricing may help to reach many consumers, but maintaining consistent price communication is key to the integrity of the brand for online and offline sales efforts.
- Inconsistency in online and offline price communications can undermine the brand's value and consumer trust.
Clear Price Communication
- Ensure consumers understand what is included in the price
- Pay attention to how the price is communicated (to assure it corresponds to the value of the product)
- Examples: Decoy effect, payment plans
Using Communication to Co-Design Products
- The design of products/services must consider the needs of the targeted group, and ideally involve this group in that process
- Customer Co-creation methods could involve different levels of participation with stakeholders, from creating ideas in small groups to fully individualized designs
- Case examples like Thrive Food or LEGO ideas projects are helpful to demonstrate the principle
Examples of Customer Co-Creation
- Several case studies demonstrating how businesses employ customer co-creation techniques to improve product development and design
International Aspects, Glocalization of Products
- While uniform branding is helpful, products may need customization for consumers in varying international markets
Summary:
- Course content centers on the importance of understanding the role of communication in international marketing.
- There are many facets of effective communication concerning the price, promotion, and place aspect of international marketing. This can be understood through the concept of "Glocalization."
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your knowledge on the key concepts of International Marketing Communication. This quiz covers the marketing communication process, the impact of culture, campaign evaluation, and more. Perfect for students looking to deepen their understanding of the subject.
