Transcript the marketing communication mix

THE INSTITUTE OF CHARTERED
ACCOUNTANTS OF SRI LANKA
POSTGRADUATE DIPLOMA IN BUSINESS MANAGEMENT
MARKETING STRATEGY
Integrated Marketing Communication and Advertising
Hafeez Rajudin
Chartered Marketer
THE MARKETING COMMUNICATION MIX
A company’s total communications mix – also called
its promotion mix consists:
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ADVERTISING
SALES PROMOTION
PUBLIC RELATIONS
PERSONAL SELLING
DIRECT MARKETING
THE MARKETING COMMUNICATION MIX
ADVERTISING:
“Any paid form of nonpersonal
presentation and promotion of ideas,
goods, or services by an identified
sponsor”
THE MARKETING COMMUNICATION MIX
SALES PROMOTION
“Short-term incentives to encourage the
purchase or sale of a product or
service”
THE MARKETING COMMUNICATION MIX
PUBLIC RELATIONS
“Building good relations with the
company’s various publics by obtaining
favourable publicity, building up a
good corporate image, and handling or
heading off unfavourable rumors,
stories and events”
THE MARKETING COMMUNICATION MIX
PERSONAL SELLING
“Personal presentation by the firm’s
sales force for the purpose of making
sales and building consumer
relationships”
THE MARKETING COMMUNICATION MIX
DIRECT MARKETING
“Direct connections with carefully targeted
individual consumers to both obtain an
immediate response and cultivate lasting
customer relationships – the use of
telephone, mail, fax, e-mail, the Internet,
and other tools to communicate directly
with specific consumers”
THE CHANGING COMMUNICATIONS
ENVIRONMENT
There are two major factors changing
the face of today’s marketing
communications:
1.
Focused marketing programs
designed to build closer relationships
with customer in more narrowly
defined micromarkets.
THE CHANGING COMMINICATIONS
ENVIRONMENT
2.
Vast improvements in
information technology are speeding
towards segmented marketing.
THE COMMUNICATION PROCESS
noise
SENDER
noise
noise
ENCODING
FEEDBACK
MESSAGE
RESPONSE
MEDIA
noise
noise
DECODING
noise
noise
RECEIVER
The Communication Process
1.
Sender: The party sending the message to another party.
2.
Message: The set of symbols that the sender transmits.
3.
Decoding: The process by which the receiver assigns meaning to the symbols
encoded by the sender.
4.
Receiver: The party receiving the message sent by another party.
5.
Response: The reactions of the receiver after being exposed to the message.
6.
Feedback: The part of the receiver’s response communicated back to the sender.
7.
Noise: The unplanned static or distortion during the communication process which
results in the receiver’s getting a different message than the one sender sent.
STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION
Step 1: Identifying the Target Audience
Step 2: Determining the Communication Objectives
Buyer Readiness Stages
Awareness
Knowledge
Liking
Preference
Conviction
Purchase
STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION
Step 3. Designing a message
Message content
Rational Appeals
Emotional appeals
Moral appeals
Message Structure
Draw Conclusions
Argument Type
Argument Order
Message Format
Headline, Copy, Color,
Words & Sounds,
Body Language
ATTENTION
INTEREST
DESIRE
ACTION
STEPS IN DEVELOPING EFFFECTIVE COMMUNICATION
Step 4: Choosing Media
Personal Communication
Channels
Non-personal Communication
Channels
Step 5: Selecting the Message Source
Step 6: Collecting Feedback
SETTING THE TOTAL PROMOTIONAL BUDGET
Affordable Method
Competitive-parity
Method
Percentage-of-Sales
Method
Objective-and-Task
Method
SETTING THE PROMOTIONAL MIX
Nature of Each Promotional Tool
Advertising
Reaches many Buyers, expressive,
Impersonal
Personal Selling
Personal Interaction, Builds Relationships,
Costly
Sales Promotion
Provides Strong Incentives to Buy
Short-lived
Public Relations
Believable, Effective, Economical
Underused by many Companies
Direct Marketing
Nonpublic, Immediate, Customized,
Interactive
FACTORS IN DEVELOPING PROMOTION MIX STRATEGIES
Push Strategy: “Pushing” the product through Distribution Channels
to final Customer
Pull Strategy:
Producer Directs it’s Marketing Activities Towards
Final Consumers to Induce them to Buy the Product
Type of
Product/market
Buyer
Readiness
Stage
Product
Life-Cycle
Stage
CHANGIING FACE OF MARKETING COMMUNICATIONS
NEW MARKETING COMMUNICATIONS REALITIES
Marketers have shifted
away from Mass Marketing
Less Broadcasting
Improvements in
Information Technology
has led to
Segmented Marketing
More Narrow Forecasting
INTEGRATED MARKETING COMMUNICATIONS
Company Carefully Integrates and Coordinates its many
Communication Channels to Deliver a Clear, Consistent,
Compelling Message
Advertising
Packaging
Event
Marketing
Message
Direct
Marketing
Personal Selling
Sales Promotion
Public Relations