Marketing Communications PDF

**Marketing Communications** - The 4 P's (Marketing Mix) The Marketing Mix is the key elements that businesses are able to control to influence customer demand and achieve marketing goals and customer satisfaction and loyalty 1. Product 2. Place 3. Price 4. Promotion - Service Quality...

**Marketing Communications** - The 4 P's (Marketing Mix) The Marketing Mix is the key elements that businesses are able to control to influence customer demand and achieve marketing goals and customer satisfaction and loyalty 1. Product 2. Place 3. Price 4. Promotion - Service Quality dimensions These refer to specific factors that may be used to evaluate the quality of services provided by businesses. - Tangibles physical aspects of a business such as staff appearance, equipment, stores - Reliability meeting and exceeding customer expectations - Responsiveness Helping customers and providing good service - Assurance Inspiring trust and confidence - Empathy Shwoing genuine concern and care for customers - Integrated Marketing Communications Elements (IMC) Includes the tools used to reach target audiences in marketing. Example: The elements of Promotion (the 4th P of the marketing mix) - Personal Selling - Public Relations - Direct Marketing - Sales Promotion - Advertising - Publicity - Online and Interactive Channels +-----------------+-----------------+-----------------+-----------------+ | **Medium** | **Definition** | **Strength** | **Weakness** | +=================+=================+=================+=================+ | Personal | salesperson | Improves | High-cost | | Selling | interacts with | relationships | | | | | with customers | Time consuming | | | potential | | | | | customers to | | Dependance on | | | persuade them | | salesperson | | | to | | | | | | | | | | purchase a | | | | | product or | | | | | service | | | +-----------------+-----------------+-----------------+-----------------+ | Public | Maintaining a | Low cost | Time consuming | | Relations | positive image | | | | | about the | Enhances brand | Dependant on | | | company/busines | image | external | | | s. | | channels | | | Managing | Builds good | | | | communication | relationships | Difficult to | | | between media | | control the | | | and its | | message | | | stakeholders | | | +-----------------+-----------------+-----------------+-----------------+ | Direct | Offers directed | Send direct | Could be seen | | Marketing | at specific | messages | as intrusive | | | individuals, | | and raise | | | elicitinga | Target specific | privacy | | | direct response | audiences | concerns | | | such as a | | | | | purchase | Drive immediate | Relies on | | | | action | accurate | | | | | consumer data | | | | Cost-effective | | | | | to foster | | | | | long-term | | | | | customer | | | | | relationships | | +-----------------+-----------------+-----------------+-----------------+ | Sales | short-term | Effective in | May lead to | | Promotions | marketing | short-term | profit margin | | | | sales | erosion | | | activities | | | | | designed to | Drive new | Customers | | | encourage | customers | expect | | | consumers to | | discounts | | | make a purchase | Buils brand | everytime | | | or to engage in | loyalty | | | | other actions | | Risk of | | | (e.g. visit a | | diluting the | | | website, | | brand's value | | | subscribe to a | | | | | website, take | | | | | part in a | | | | | | | | | | competition, | | | | | etc.). These | | | | | can include | | | | | discounts, | | | | | | | | | | coupons, | | | | | contests, | | | | | giveaways, | | | | | loyalty | | | | | programmes, | | | | | | | | | | or special | | | | | offers. | | | +-----------------+-----------------+-----------------+-----------------+ | Advertising | paid form of | Good control | Non-personal | | | communication | over message | | | | used | content | Expensive | | | | | | | | by businesses, | | Can be missed | | | organisations | | or ignored due | | | or individuals | | to cluttered | | | to | | content | | | | | | | | promote | | | | | products, | | | | | services, ideas | | | | | or causes to a | | | | | | | | | | target | | | | | audience. | | | +-----------------+-----------------+-----------------+-----------------+ | Publicity | public | Reaches wide | Unpredictable | | | visibility or | audience | | | | awareness of a | | Media coverage | | | | Highly credible | relies on | | | person, | | editorial | | | organisation, | Enhances brand | discretion | | | product, or | reputation | | | | event, | | | | | | | | | | typically | | | | | achieved | | | | | through media | | | | | coverage or | | | | | | | | | | other external | | | | | communications. | | | | | Unlike | | | | | | | | | | advertising, | | | | | publicity is | | | | | earned rather | | | | | than paid | | | | | | | | | | for. Involves | | | | | word-of-mouth | | | | | marketing. | | | +-----------------+-----------------+-----------------+-----------------+ | Online and | technologies | Cost-effective | Can be fake | | Interactive | that facilitate | | news | | channels | | Happen in | | | | communication | real-time | Reduced | | | through the | | emotional | | | | Personalised | connections | | | internet | | w/individuals | +-----------------+-----------------+-----------------+-----------------+ - The 6M model of marketing communications The 6M Model of marketing communications is a framework used to help marketers plan and execute their communication strategies effectively. 1. **Mission** Includes objectives and what the company wants to achieve 2. **Money** refers to the financial resources allocated to the marketing communication campaign. This budget dictates the scope of the campaign, the media choices, and the resources available for creative production. 3. **Message** The content or message that needs to be delivered to the target audience. Includes what is said and how soemthing is said (message content and structure) 4. **Media** The media refers to the channels or platforms used to deliver the marketing message to the target audience. This could include traditional media (TV, radio, print), digital media (social media, websites, email), or direct communication methods (personal selling, events). 5. **Market** The market refers to the target audience for the communication campaign. 6. **Measurement** Measurement is about assessing the effectiveness of the marketing communication campaign. Marketers need to track the success of the campaign against the defined objectives and make adjustments as needed.