Session 5_Easy_Promotion

• The lecture is about Promotion/Marketing Communication.

Course Framework

• Prerequisites include marketing research and consumer behavior.
• Marketing strategy includes segmentation, targeting, and positioning.
• The marketing plan consists of product, price, promotion, and place.

Key Objectives (Communication)

• Main goal is to inform, persuade, and remind customers about a product, both directly and indirectly.
• Being systematic involves defining objectives, identifying the target audience, determining the best place, and finding the best method to reach them.

Types of Product Promotion

• Advertisement: Paid, nonpersonal communication about an organization, good, service, or idea by an identified sponosr, like traditional TV or prin ads.
• Personal Selling: Two-way communication influencing a buyer's purchase intentions, typically face-to-face.
• Personal selling is more customized, effective for complex information, more expensive, and provides consistent communication.
• Public Relations: Nonpersonal, indirectly paid presentation of an organization, good, or service, such as news articles and product launch announcements.
• Sales Promotion: Short-term incentive to stimulate interest in buying a good or service, such as rebates or coupons, for both consumers and sales channels.
• Sales promotions stimulate behavior and provide information like price.

Integrated Marketing Communications

• Integrated Marketing Communications promotional mix can include advertising, direct marketing, interactive/internet marketing, sales promotion, publicity/public relations and personal selling.
• Examples of the mix include: Coca-Cola (advertising); Tupperware and Ikea (direct Marketing); Google and Facbook (interactive/internet marketing); Lidl Happy Meal (sales promotion); Red bull Apple events (publicity/public relations) and BMW and GE (personal selling).

Developing Effective Communication

• Decide what to say (communication content) based on STP strategy, market research, and unique selling proposition.
• Decide how to say it (communication execution) using credible sources and creative humor.

Steps to Develop Effective Communication

• Identify the target audience is the first step.
• Determine the communication objectives.
• Design the message.
• Then choose the media to use.
• Select the message source.

Communication Objectives

Objectives depend on the Product Life Cycle, from Introduction, to Growth, to Maturity, to Decline.

• Define "Advertising Goals for Measured Advertising Results" (DAGMAR).

Set Measurable Communication Objectives

• These can include: category need, brand awareness, brand knowledge, brand attitude, brand purchase intention, purchase facilitation, purchase, satisfaction, and brand loyalty.
• It is important for ads to communicate why consumers need something.
• Brand Knowledge: Target consumers know the essential brand characteristics, features, and benefits, distinguishing it from competitors and Brand Knowledge is comprehension.

Attitude

• Brand Attitude is that consumers are equally aware of brands, allowing them to base brand choice on the value a brand offers to the consumer.
• Intention to buy is often a mediating step between attitude and purchase, especially for high involvement products.
• Ads facilitate purchase by assuring buyers there are no barriers hindering the purchase
• Actual purchases should be the main objective.
• Satisfaction is important in ensuring that the product or service lives up to expectations
• Brand loyalty is the mental commitment between a consumer and brand leading to more that repeat purchases.

Focus on Relevant Objectives

• Avoid overthinking competition or using market share as the the only objective.
• Communication obejctives include brand awarenss and brand attitude.
• Action objectives include product trial, store visits, or website visits. Think about other “purchase“ objectives as well! Voting; protesting; donating time/money; lobbying; writing letters; subscribing to content; getting a job (resume); convincing a brand, family member, boss, employee
• A good objective is time horizon, and a good target, message, and desired effect.
• This must be consistent with marketing analysis/positioning.
• Ensure ads are suited to the medium for clothing, medical equiptment or perfume.
• A clear objective helps evaluate a company's strategy

Media Strategy

• Selection includes many types of broadcasts TV and radio, print newspapers, magazines, direct mail, internet search engines, and personal mobile devices.

• Criteria: target segment, product, message, distribution, flexibility, budget, legal constraints, and current and desired band awareness

• Vehicles refer to the specific instruments for transmission of information within a medium.

• Vehicle selection is based on efficiency of reaching the target by cost.

• There are three types of media: paid, owned, and earned.

• Owned includes a website, mobile site, Twitter account.

• Paid includes Display ads, Paid Search and sponsorships

• Earned includes a blog

• Offline Paid Media includes traditional methods of advertising TV, Radio, Print, Outdoor, Sponsorship

• Online Paid Media includes Display, banner Ads, Search Ads in google and social media and E-mail advertising.

• Owned Media includes: Brochures; Company Press Release; Retail-In-Store- Displays

• Online Owned Media: Company Website; Company Blog; Company accounts in social networks (Twitter, etc.)

• Offline Earned Media: Mentions in traditional media otlets, ratings and reviews and word of mouth.

• Online Earned Media: Mentions in digital media outlets; online word of mouth.

• Effective promotion strategy requires insight into the customer's buying process, while matching tools to perform those tasks.

• Different buying processes for different industries.