Transcript Document
Chapter One Overview of Integrated Marketing Communications Chapter One Objectives • Introduce the topic of marketing communications (MarCom) • Describe the nature and importance of different elements of MarCom Chapter One Objectives • Understand the advantages of integrated marketing communications (IMC) • Understand how elements must be tightly interwoven in order to enhance brand equity Definition of Marketing Marketing A set of activities whereby business and other organizations create transfers of value (exchanges) between themselves and their customers. Communications Communications The process whereby thoughts are conveyed and meaning is shared between individuals or between organizations and individuals. Marketing Communications Marketing Communications The collection of all elements in a brand’s marketing mix that facilitate exchanges by targeting the brand to a group of customers, positioning the brand as somehow distinct from competitive brands, and sharing the brand’s meaning with the brand’s target audience. Marketing is Communication and Communication is Marketing Business-to-business (B2B) Business-to-consumer (B2C) Not-for-profit services Elements of Marketing Communications Brand Level Marketing Most marketing communications occurs at the brand level. Brand Level Marketing A well known and respected brand is an invaluable asset. Brand Level Marketing A successful brand can create barriers to entry for competitors. Brand Level Marketing This is the key means for differentiating one company’s offering from competitive brands. Integrated Marketing Communications (IMC) Integrated Marketing Communications (IMC) The process of planning, creation, integration, and implementation of diverse forms of marketing communications that are delivered over time to a brand’s targeting customers and prospects. Key Features of IMC 1. Start with the customer or prospect. 2. Use any form of relevant contact. 3. Achieve synergy (speak with a single voice). 4. Build relationships. 5. Affect behavior. Changes in Marketing Communication Practices • Reduced dependence on mass media advertising. • Increased reliance on highly targeted communication methods. • Heightened demands on suppliers. • Increased efforts to assess communications’ return on investment. Obstacles to Implementing IMC • Few providers have the skills required to execute. • Mass media campaigns easier than Direct-to-Customer. • Need for MarCom Director.