Marketing Management PDF

Marketing Management Managing Marketing Communications Learning Objectives 12.1 Explain the role of marketing communications. 12.2 Define meaningful communications objectives. 12.3 Describe how a company should identify target customers and craft a communicat...

Marketing Management Managing Marketing Communications Learning Objectives 12.1 Explain the role of marketing communications. 12.2 Define meaningful communications objectives. 12.3 Describe how a company should identify target customers and craft a communications message. 12.4 Explain how a company should decide on the communication media mix and develop a media plan. 12.5 Describe the creative strategies involved in developing an effective communication campaign. 12.6 Identify actionable metrics for measuring communication effectiveness. Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved The Role of Marketing Communications Marketing communications – The means by which firms attempt to inform, persuade, and remind consumers about the products and brands they sell Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved The Communications Process Macromodel of marketing communications – Articulates the interaction between the sender (company) and the recipient (consumer) of the communication message Micromodel of marketing communication – Concentrates on consumers’ specific responses to communications – Cognitive, affective, behavioral Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Figure 12.1 Elements in the Communication Process Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Micromodel of Marketing Communication Generating a consumer response: – Awareness – Knowledge – Liking – Preference – Conviction – Purchase Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Figure 12.2 Developing a Communication Program Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Setting the Communication Objectives (1 of 3) Defining the focus of company communications – Communications objective ▪ A specific task and achievement level to be accomplished with a specific audience in a specific period – Creating awareness – Building preferences – Inciting action Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Figure 12.3 Current Consumer States for Two Offerings Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Setting the Communication Objectives (2 of 3) Setting the communications benchmarks – Quantitative – Temporal Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Setting the Communication Objectives (3 of 3) Determining the communications budget – Objective and task budgeting ▪ Consider: – Stage in product life cycle – Product differentiation – Market share – Message complexity – Reach – Competitive communication – Available resources Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Identifying the Target Audience Start with a clear target audience in mind – Ask questions ▪ Is the target new to the category or a current user? ▪ Is the target loyal to the brand, loyal to a competitor, or someone who switches between brands? ▪ If a brand user, is he or she a heavy or a light user Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Crafting the Communication Message Message should: – Resonate with consumers rationally and emotionally – Distinguish the brand from competitors – Be broad and flexible enough to translate into different media, markets, and time periods Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Marketing Communications Mix Advertising Online and social media marketing Mobile communication Direct marketing Events and experiences Word of mouth Public relations and publicity Packaging Personal selling Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Developing a Media Plan (1 of 4) Consider: – Audience quality – Audience attention probability – Editorial quality – Ad placement policies and extra services Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Developing a Media Plan (4 of 4) Four strategies for launching a new product – Continuity – Concentration – Flighting – Pulsing Areas of dominant influence Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Determining the Message Appeal Informational appeals – Elaborate on product or service attributes or benefits ▪ One-sided vs. two-sided arguments Transformational appeals – Elaborate on a non-product related benefit or image ▪ Negative/fear vs. positive appeals Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Selecting the Message Source Source credibility is important – Expertise – Trustworthiness – Likability Principle of congruity – Communicators can use their good image to reduce some negative feelings toward a brand but might lose some esteem with the audience Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Developing a Creative Brief ADPLAN framework – Attention – Distinction – Positioning – Linkage – Amplification – New equity Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Figure 12.4 Formula for Measuring Different Stages in the Sales Impact of Advertising Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Discussion Questions (1 of 2) Think about some of your favorite ads. – What makes these ads special to you? – Did you watch the ads live on television or later on social media? – Did the ads that drew your attention encourage you to engage with companies in other ways? – What do your responses to these questions tell you about the effectiveness of the communication itself and the choice of media used? Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Discussion Questions (2 of 2) Many companies changed their messages during the COVID-19 pandemic. Consider Royal Caribbean, AB InBev’s Corona Beer, and Kentucky Fried Chicken. – How did the messages of these companies change? – How, if at all, did their choice of media change? – What was the intention of the new communications? Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Marketing Management Designing an Integrated Marketing Campaign in the Digital Age Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Learning Objectives (1 of 2) 13.1 Describe the key principles in managing an integrated marketing campaign. 13.2 Define the key aspects of managing an effective advertising campaign. 13.3 Explain how to design and manage online communications. 13.4 Describe key aspects of managing social media. 13.5 Explain how to manage mobile communications. Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Learning Objectives (2 of 2) 13.6 Explain how to design meaningful events and experiences. 13.7 Describe the role of word of mouth in marketing communications. 13.8 Summarize how to manage publicity and public relations. 13.9 Discuss the role of product packaging as a communication tool. Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Managing Integrated Marketing Communications (1 of 3) Integrated marketing communications (IMC) – An approach to managing a communication campaign through a coordinated use of different communication tools that work in concert and reinforce one another to enable the company to achieve its strategic goals Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Managing Integrated Marketing Communications (2 of 3) Horizontal integration Vertical integration Internal integration External integration Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Managing Integrated Marketing Communications (3 of 3) Ensuring communications integration – Coverage – Contribution – Commonality – Complementarity – Conformability – Cost Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Advertising Advertising – Any presentation and promotion of ideas, goods, services, and brands by an identified sponsor using paid media Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Television Advertising (1 of 2) Strengths: – Vividly demonstrate product attributes and consumer benefits – Portray user and usage imagery, brand personality, etc. – Tap a captive audience during live programming Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Television Advertising (2 of 2) Drawbacks: – Message and brand may be overlooked – Lots of clutter – Cost Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Print Advertising Print media is passive – Newspapers – Magazines ▪ Picture ▪ Headline ▪ Copy Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Radio Advertising Pervasive medium – Flexible – Lacks visual images Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Online Advertising (1 of 3) Advantages: – Can trace effects by UVs clicks on a page/ad – Contextual placement – Can place advertising based on search engine keywords Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Online Advertising (2 of 3) Disadvantages – Consumers can screen out most messages – Ads can be less effective than they appear (bogus clicks) – Lost control over online messages via hacking/vandalism Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Online Advertising (3 of 3) Native advertising – Involves materials resembling the publication’s editorial content but is intended to promote the advertiser’s product Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Place Advertising Billboards Public spaces Product placement Point of purchase Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Online Communication (1 of 2) Company websites – Ease of use – Physical attractiveness Microsites Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Online Communication (2 of 2) Driving online traffic – Search engine optimization – Search engine marketing Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Social Media (1 of 2) Means for consumers to share text, images, audio, and video information with each other and with companies, and vice versa – Online communities/forums – Blogs – Social networks – Customer reviews Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Social Media (2 of 2) Social media are rarely the sole source of marketing communications for a brand – Only some consumers want to engage with some brands, and, even then, only some of the time Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Social Media Platforms Online communities and forums Blogs Social networks – Influencer marketing Customer reviews Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Mobile Communication Uniquely tied to one user Virtually always “on” Allows for immediate consumption Highly interactive Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Events and Experiences Managing events Creating experiences Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Managing Events (1 of 2) Managing Events – To identify with a particular target market or lifestyle – To increase the salience of a company or product name – To create or reinforce perceptions of key brand image associations Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Managing Events (2 of 2) – To enhance corporate image – To create experiences and evoke feelings – To express commitment to the community or on social issues – To entertain key clients or reward key employees – To permit merchandising or promotional opportunities Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Creating Experiences Let customers experience how the company’s offering fits in their life – Event sponsorship Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Word of Mouth Power of word of mouth – Viral marketing Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Publicity and Public Relations Goal of publicity: – Attract attention to the company or its offerings Goal of public relations: – Manage the overall reputation of the company and its offering, while building relationships with the community Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Publicity (1 of 3) Publicity – Involves securing editorial space—as opposed to paid space—in the media to promote a product, service, idea, place, person, or organization Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Publicity (2 of 3) Advantage of publicity – Free – More credible Downside of publicity – Lack of predictable outcome Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Publicity (3 of 3) Publicity – Builds awareness – Builds credibility – Boosts enthusiasm – Minimizes promotion cost Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Public Relations (1 of 3) Public relations (PR) – A variety of programs to promote or protect a company’s image among the relevant stakeholders Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Public Relations (2 of 3) PR functions: – Provide press coverage – Manage corporate communications – Engage in lobbying Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Public Relations (3 of 3) Popular media formats – Publications – Events – News – Speeches – Public service activities – Identity media Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Packaging Core principles: – Visibility – Differentiation – Transparency Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Discussion Questions (1 of 2) Presidential campaigns are an example of integrated communication campaigns. Reflect on the most recent election for U.S. president. – How did the candidates create a consistent experience for voters? ▪ Think about advertising, social media, publicity, and events as you respond. Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved Discussion Questions (2 of 2) Discuss the power and drawbacks of social media as form of marketing communication. – How can influencers help shape marketing communication? – Do you see any drawbacks of influencers as a marketing asset? Copyright © 2022, 2016, 2012 Pearson Education, Inc. All Rights Reserved