Marketing Lecture 6 2024 PDF

Marketing 2024 Marketing Lecture 6 Dr. Sandra Metry TABLE OF CONTENTS 01 SECTION Steps in Developing Effective Marketing Communication 02 SECTION Setting the Total Campaign Budget 03 SECTION Shaping The Overall P...

Marketing 2024 Marketing Lecture 6 Dr. Sandra Metry TABLE OF CONTENTS 01 SECTION Steps in Developing Effective Marketing Communication 02 SECTION Setting the Total Campaign Budget 03 SECTION Shaping The Overall Promotional Mix 04 SECTION The Buyer Decision Process 05 SECTION The Buyer Decision Process for New Products 06 SECTION Influence of Product Characteristics on Adoption Rate Marketing 2024 Steps in Developing Effective Marketing Communication 01. Steps in Developing Effective Marketing Communication Steps in Developing Effective Marketing Communication Identify the Target Audience Steps in Developing Effective Marketing Communication Determine the Communication Objectives Steps in Developing Effective Marketing Communication Determine the Communication Objectives Steps in Developing Effective Marketing Communication Designing the message Steps in Developing Effective Marketing Communication Designing the message Steps in Developing Effective Marketing Communication Rational Appeal Steps in Developing Effective Marketing Communication Emotional Appeal Steps in Developing Effective Marketing Communication Rational vs Emotional Appeal Steps in Developing Effective Marketing Communication Moral Appeal Steps in Developing Effective Marketing Communication Designing the message Steps in Developing Effective Marketing Communication Designing the message Steps in Developing Effective Marketing Communication Choosing the Media Steps in Developing Effective Marketing Communication Choosing the Media Steps in Developing Effective Marketing Communication Choosing the Media Steps in Developing Effective Marketing Communication Example: Celebrities Steps in Developing Effective Marketing Communication Example: Professionals Steps in Developing Effective Marketing Communication Collecting Feedback Marketing 2024 Setting the Total Campaign Budget 02. Setting the Total Campaign Budget Setting the Total Campaign Budget Affordable Method Setting the Total Campaign Budget Percentage- of–sales Method Setting the Total Campaign Budget Competitive-Parity Method Setting the Total Campaign Budget Objective-and-Task Method Marketing 2024 Shaping The Overall Promotional Mix 03. Shaping the Overall Promotion Mix Push and Pull Strategy Shaping the Overall Promotion Mix Push and Pull Strategy Shaping the Overall Promotion Mix Push and Pull Strategy Marketing 2024 The Buyer Decision Process 04. The Buyer Decision Process The Buyer Decision Process Need Recognition Need recognition is the first stage of the buyer decision process, in which the consumer recognizes a problem or need. o The need recognition occurs when there is a discrepancy between actual and desired state. This can be triggered by: o Internal stimuli o External stimuli The Buyer Decision Process Information Search Information search is the stage of the buyer decision process in which the consumer is motivated to search for more information. This can be shaped by: o Internal Search o External Search The Buyer Decision Process Evaluation of Alternatives Evaluation of Alternatives is the stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set. Consumers do not use a simple and single evaluation process in all buying situations. Marketers should study buyers to find out how they actually evaluate brand alternatives to influence the buyer’s decision. The Buyer Decision Process Purchase Decision Purchase decision is the buyer’s decision about which brand to purchase. The purchase intention may not be the purchase decision due to: o Attitudes of others. o Unexpected situational factors. The Buyer Decision Process Post Purchase Behavior Post purchase behavior is the stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction. Cognitive dissonance is buyer discomfort caused by post-purchase conflict. Marketing 2024 Midterm Remarks Exam Sample Questions State whether the statement is true or false. Correct the wrong statement. The mass marketing targeting strategy focuses on providing different marketing offers to different market segments. The Answer: False Correction: Differentiated targeting or mass marketing provides one offer for the whole market. Exam Sample Questions Nike has introduced a NikeiD service. NikeiD is a service that allows customers to customize their shoes purchased from Nike. The customer becomes the designer as they change and add a personal look and feel to a selected item with an extra charge added to the original price. The service can be accessed both online, from their home page and in physical branches called NIKEiD Studios which are situated in parts of Canada, France, England, China and USA. NIKEiD is appealing to the active higher-income young generation who enjoy exercising regularly and care about their physical appearance as well as their fitness. Nike is well-known for providing exceptional designs and technology footwear that legitimize the high prices they charge. 1. Reference to the above case; identify the segmentation bases used by NIKE. 2. Identify the targeting strategy adopted by NIKE in the above case. 3. Identity the possible NIKE’s value proposition (positioning) strategy suggested in the case above. THANKS! DO YOU HAVE ANY QUESTIONS? 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