Marketing Communication Strategy PDF

Chapter 11: Marketing communication strategy Chapter outline The role of marketing communication in the marketing mix The elements of the marketing communication mix Advertising Public relations and publicity Personal selling Sales promotion Chapter outline (continued)...

Chapter 11: Marketing communication strategy Chapter outline The role of marketing communication in the marketing mix The elements of the marketing communication mix Advertising Public relations and publicity Personal selling Sales promotion Chapter outline (continued) The marketing communication process Integrated marketing communications The objectives and tasks of marketing communication AIDA and the hierarchy of effects Factors affecting the marketing communication mix Steps in developing the marketing communication plan The role of marketing communication in the marketing mix Overall marketing objectives Communication mix Advertising Marketing mix Public relations Product strategy Personal selling Distribution strategy Sales promotion Promotion strategy Price strategy Communication plan Target market The elements of the marketing communication mix Marketing communication mix = combo of these elements that management believes will meet the needs of the target market and realise the firm’s overall objectives Advertising Public relations and publicity Personal selling Sales promotion The elements of the marketing communication mix 1. Advertising Advertising: any form of paid communication in which the sponsor or firm is identified The effects of advertising on: Market share The consumers’ behaviour Brand loyalty Product attributes The elements of the marketing communication mix 1. Advertising (continued) Institutional Corporate image advertising advertising Advocacy advertising Major types of advertising Pioneering Product Competitive advertising Comparative The elements of the marketing communication mix 2. Public relations and publicity Public relations: the marketing communication function that evaluates public attitudes, identifies areas within the firm that the public may be interested in and executes a programme of action to earn public understanding and acceptance Publicity: public information about a firm, its goods or services appearing in the mass media as a news item The elements of the marketing communication mix 3. Personal selling and 4. Sales promotion Personal selling: a situation in which two people communicate in an attempt to influence each other in a purchase situation Sales promotion: a short-term tool used to stimulate immediate increases in demand Sales promotion can be aimed at: Final consumers Trade customers Employees E.g. Gillette SensorExcel The marketing communication process Communication: the process by which we exchange or share meanings through a common set of symbols Interpersonal communication: direct, face-to-face communication between two or more people Mass communication: communicating to large audiences The marketing communication process (continued) The marketing communication process (continued) Elements of the communication process: Sender: originator of the message Encoding: conversion of the sender’s ideas and thoughts into a message Transmission of a message requires a channel Noise: anything that interferes with, distorts or slows down the transmission of information Decoding: interpretation of the language and symbols sent by the source through a channel Feedback: receiver’s response to a message The communication process and the marketing communication mix The marketing communication process (continued) Integrated marketing communications (IMC): the method of carefully coordinating all marketing communication activities Media advertising, sales promotion, personal selling, public relations, direct marketing, packaging and other forms of marketing communication such as web sites) to produce a consistent, unified message that is Customer-focused The objectives and tasks of marketing communication 1. Inform Convert an existing need into a want or stimulate interest in a new product 2. Persuade Stimulate a purchase or an action 3. Remind Keep the product and brand name in the public’s mind AIDA and the hierarchy of effects Stages of consumer involvement with a marketing communication message Attention Interest Desire Action Consumers respond to marketing messages in sequence: Cognitive (thinking) Affective (feelings, emotions) Conative (action, doing) AIDA and the hierarchy of effects (continued) Six steps in the purchase-decision process Purchase Conviction Preference Liking Knowledge Awareness ATTENTION INTEREST DESIRE ACTION Cognitive Affective Conative (thinking) (liking) (doing) Factors affecting the marketing communication mix Nature of the product Stages in the product life cycle Target market characteristics Types of buying decisions Available funds Push and pull strategies Factors affecting the marketing communication mix (continued) Steps in developing the marketing communication plan 1. Analyse the market 2. Identify the target audience 3. Set marketing communication objectives 4. Develop a marketing communication budget 5. Choose a marketing communication mix Steps in developing the marketing communication plan (continued) 1. Analyse the market Ensure an effective marketing communication plan Identifies the product’s target market Determines the plan’s marketing communication objectives 2. Identify the target audience Market segment that the firm wants to reach with a given marketing communication plan. Should be explicitly defined geographically, demographically, psychographically or behaviourally Steps in developing the marketing communication plan (continued) 3. Set marketing communication objectives Measurable Based on sound research and identify a well-defined target audience Realistic Reinforce overall marketing plan Steps in developing the marketing communication plan (continued) 4. Developing a marketing communication budget: Arbitrary allocation and all-you-can-afford Competitive parity method Percent-of-sales method Market share method Objective-and-task method Steps in developing the marketing communication plan (continued) 5. Deciding on a marketing communication mix: Select the combination of elements that will be included in overall marketing communication plan Different elements to address consumers in different stages of the hierarchy of effects