Marketing Basics

What Does Marketing Do?

• Marketing builds brand and customer relationships that generate sales and profits.
• For nonprofits, marketing generates memberships and donations.
• Traditionally, marketing has been about selling goods, services, and ideas.

Marketing Definition

• Marketing involves creating, communicating, delivering, and exchanging offerings that provide value to customers, clients, partners, and society at large.

The Marketing Process

• Marketing begins with understanding the marketplace and customer needs and wants.
• Design a customer value-driven marketing strategy
• Construct an integrated marketing program that delivers value
• Engage customers and build profitable relationships, which creates customer delight.
• Capture value from customers in return, creating profits and customer equity.
• The five-step process forms the core of marketing.

The STP Process

• The Segmentation, Targeting, and Positioning (STP) process is essential in marketing.

The Marketing Mix

• Marketing achieves its goals by managing the four Ps: Product, Place, Pricing, and Promotion.

Marketing and Messages

• Marketing communication (marcom) includes advertising, public relations, sales promotion, direct response, events and sponsorships, point of sale, digital media, packaging, and personal sales.

How the Marketing Mix Sends Messages

• Product messages depend on the design, performance, and quality.
  • Communication works to:
    • Build awareness of a brand
    • Explain how the new product works
    • Explain how it differs from competitors.
• Pricing is based on what the market will bear and competition.
  • Relative value of the product
  • Consumer’s ability to gauge that value
  • Sends a “quality” or “status” message.
• Place/Distribution includes channels to make products accessible to customers.
  • Distribution channels send a message.
  • Marketers may use "push" or "pull" strategies.
• Other functions in the mix.
  • Personal sales.
  • Lead generation.
  • Customer service.

Integrated Marketing Communication (IMC)

• IMC coordinates all brand communication messages stemming from marketing mix decisions.
• Integration ensures every message is focused and works together, creating synergy.
• Synergy means the entire marketing message has more impact than the sum of its parts.

Why Focus on Brands?

• A brand is a perception, often emotional, resulting from experiences and information.
• Products carry brands, as do organizations.

The Hierarchy of Brand Communication

• Brand communication begins with a brand strategy, then marcom plans relevant areas to implement marketing and brand strategy.

How Does a Brand Acquire Meaning?

• Marketing communication delivers meaning-making cues and images to brands.
• Brand meaning is the one aspect of a brand that can be copied.
• A brand is:
  • A perception loaded with emotions and feelings
  • Has tangible elements, like a trademark or package design

Successful Brands

• Successful brands create a distinct position and promise.
• Create an association.
• Offer a benefit and carry a heritage.
• Are simple and are often use a unique logo, trademark, character or other visual.

Brand position, promise, and image

• Brand position identifies the location a product or brand occupies in consumers' minds relative to competitors.
• Brand promise identifies key selling points for the product.
• Brand image is a mental picture or idea about a brand that contains both associations and emotions.
• Brand personality humanizes an organization or a brand, it symbolizes the personal qualities of people.

Brand Value and Brand Equity

• Brand value comes in two forms: its value to a consumer and its value to the corporation.
• Cause marketing supports communities and nonprofits, generating goodwill and positive word of mouth
• Brand equity is the intangible value based on relationships with stakeholders and its intellectual property value

Brand Communication

• Marketers are learning to relinquish control of the brand narrative.
• Convergence is the blurring of media forms like print, TV, online/cell phones/watches
• Advertisting, public relations, and other marketing areas are blurring their functions as well as integrating their programs.
• Word of mouth communication is persuasive.
• IMC focuses on communications.
  • It leads to consistent, clear, and compelling company and brand messages.

Stakeholders and Brand Relationships

• Customer focus is critical in IMC strategies, but the term “customer” really refers to all stakeholders.
• Relationship marketing focuses on long-term involvement, not a one-time purchase.
• Interactive communication is the glue to join brands and stakeholders to deliver value to consumers
• Relevant media messages drive positive experiences and can come from mishandling.
• Irrelevant messages become irritating and negative impact can result from mishandling.
• Although the focus is on communication with stakeholders, they may overlap.
• Permission marketing invites consumers to sign up for messages and self-select into a brand's target market.
• Shifting from one way to two way communication.

Total Communication

• In 360° communication planning, many message delivery points impact how a company does business.
• A total communication program watches all these sources of brand messages.
• Everything a brand does communicates and is therefore important to consider.

Moving from Channels to Contact Points

• Contact points has redefined the understanding of media as a message delivery system.
• Contact points mean the various ways a consumer comes in contact with a brand moving from traditional advertising and marketing communication media to experiential contacts.
• IMC planning is designed to maximize and leverage good contact points and minimize bad ones.
• Brand touch points are contact points that touch emotions connecting with consumers that leads to lasting bonds.

Message Synergy

• Brand communication is linked with impressions and brand meanings evolving as messages interact.
• Synergistic messages create a coherent brand perception.
• Brand stewards and IMC planners insist that strategic consistency be at the brand core and clear in every message.
• Synergy drives impression and brand stewarts insist there be clear stragteic consitency.

A Brand is an Integrated Perception

• Message synergy is the basis for seeing a brand as an integrated perception.
• People integrate brand messages and experiences which results as a brand impression is created.
• Integrated perception is making scene of things and in turn creating the brand impression.

Brand Integrity

• A brand contains integrity which will be viewed is more believable by others.
• Brand integrity is one taht is more believeable from what it says and does matches what others are relaying.
• Being a good corporate citizen adds trust relationships and embellishes.
• Integration leads to integrity and is important.

IMC Campaign Planning

• A key objective is to create consistency among all marcom tools and platforms.
• Spherical branding means the brand always looks the same.
• Spherical branding is also called 360° planning looking at a brand from all directions and points of view.

Campaign Plan

• A complex set of interlocking, coordinated activities.
• Outlines its strategy objective strategies for the communication
• Use the differet commuication tools
• Involves complementary messages

A typical campaign plan includes:

• Situation analysis
• Key strategic campaign decisions
• Marcom mix
• Message strategy
• IMC media and contact points
• Management and campaign controls
• External environment

External Environment

• Consists of Competitors, customers, media, channels, macro trends.

Major Forces in a Company’s Macroenvironment

• Political include:
  • Governments, political parties, international organizations, pressure groups
• Economic include:
• Economic growth, interest rates, inflation, unemployment, disposable income, energy cost and availability
• Social include:
• Cultural: religion, values
• Demographics: age, geographical distribution, occupations
• Technological include:
• Automation, information, communication
• Environmental include:
• Conservation of scarce sources, minimize pollution
• Legal include:
• Legislation involving businss

Competitors

• Marketers must gain strategic advantage by positioning products strongly against all competitors.
• Single Strategy is best for all

Competitor Analysis

• Develop detailed competitor profiles (e.g., size, strategies, strengths, weaknesses)
• Determine what competitors are doing to take business away

How the Factors affect my operation

• words, consider the opportunities and/or threats?
• (SWOT Analysis) The primary tool to make sense of the information and identify a key brand or product problems is the Strengths, Weaknesses, Opportunities, and Threats.
• Strength/weakness: Is internally
• Opprotunitie/threaths: External
• Opportunity is what is there an advantage.
• Threat in a trend that can erode

Key Communication Problems

• Planners need to look for communication problem affects the successful marketing of the product.
• Create a brand impression.
• Influance pepoles responses.
• Separate the brand from compettition

Campaign Strategy

• A strategy can focus on branding, positioning, countering the competition, or creating a category dominance.
• It may be used to increse to market share in walelt or change presception

Objectives

• Every strategy must involve Specific, measurable clear

Tarageting and Engaging stakeholders

• Employees are the corner stone to any stakeholders due to managing Brand Strategy:
• Message concistency needs a heart and a soul that the overall IMC mox and mix could us
• All need to be unified

Main IMC Areas:

• Advertising
• Public relations
• Consumer sales promotion
• Trade sales promotion
• Point of purchase
• Direct marketing
• Sponsorship and events
• Packaging
• Specialties
• Guerilla marketing
• Customer service

Message Strategy

• Message strategies match to a group based on what influences or moves them.
• Decisions should upport the goals

IMC Media and Contact Points

• It should make the best media posssible.

Marketing builds brands and customer relationships to generate sales and profits. The marketing process involves understanding customer needs, designing a customer value-driven strategy, constructing an integrated program, and engaging customers to build relationships. The STP (Segmentation, Targeting, Positioning) process is essential.