Designing and Managing ICM - Essay Example

In marketing the question Is not whether to communicate but what to say. How to say It. To whom, and how often. Marketing Communications – are the means by which firms attempt to inform persuade, and remind consumers – directly or indirectly – about product and brand they sell. Marketing communication are used to tell or show how and why a product Is used, by what kind of people, and where and when; explain what the company and brand stand for; and offer an incentive for trial usage.

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Also, seed to link brand to other people, places, events, brands, experiences, feelings, and things. And they contribute to brand equity by establishing the brand in memory and creating a brand Image; they can derive sales and even affect shareholder values. Changing Marketing Communications Environment The rapid diffusions of broadband internet connections, ad-skipping technology, cell phones, portable music and videos has made marketers to rethink their strategy. Ads in almost every medium and form has been on the rise, causing some consumers to feel that advertising Is Increasingly Invasive.

Marketing Communications Mix Consists of 8 major modes of communication. 1 . Advertising – paid presentation of Ideas, goods, and service. 2. Sales Promotion – short-term incentives to encourage trial or purchase. 3. Events and Experiences – sponsored activities designed to create brand related interactions. 4. Public Relations and Publicity- programs promoting company or product image. Good because: high credibility, catch buyers off-guard, determination, 5. Direct Marketing – communicating directly with consumers to collect a response. Good because: customizable, interactive, and up to date. . Interactive Marketing – online activities to engage customers or raise awareness. 7. Word of Mouth – people to people communications related to experiences of using products. Good because: its credible, timely, and personal. 8. Personal Selling – face to face Interaction for the purpose of making presentations. Good because cultivates relationships, personal interaction, and response. The product’s styling and price, the package shape and color, the salesperson’s manner and dress, and the store or dealership decor all communicate something to buyers.

Every brand contact delivers an Impressions that can strengthen or weaken a customers view of the company. Developing Effective Communications Steps 1. Identify the target audience – identify a clear target audience: potential buyers of your products, current users, deciders, or Influences. 2. Determine objectives – there are 4 possible objectives. Category need – you are trying to establish a product necessary to satisfy some perceived need. Brand awareness – you are trying to instill your brand in the minds of the consumers.

This provides a foundation for brand equity. Recall Is Important outside the store. Recognition Is hard to archive but important Inside the store because it will lead to a purchase. Brand attitude – you trying to tell consumers that 1 OFF trying to tell consumers to go and but the product or to take a buying related action. 3. Design communications – goal is to determine what to say, how to say, and who will say it. Message strategy – search for appeals, themes, or ideas to ties into the brand positioning and help establish POP and POD.

Creative strategy – translate message into specific communications. Informational appeal – communicate the benefits of using the product. Aspirin heals headaches. Transformational appeal – tell other non- product benefits or tell you what kind of person uses the product. Attempt to stir-up emotions that will motivate a purchase. Message source – an attractive and popular source can achieve higher attention. Celebrities will be effective if they are credible or personify a key product attribute.

Three factors underlying source credibility expertise, trustworthy, and likeability. 4. Select the channels – is difficult is channels are fragmented and cluttered e. G. A salesperson trying to sell a product to busy people that are scattered across multiple geographic regions. Types of communications channels are: I. Personal communications channels – two or more people communicating face to face, person to audience, over the phone, or through an email. Derive their effectiveness through individualized presentation and feedback. Quote pig. 273. T. Non-personal communications channels – directed towards more than one person and include media, sales promotion, events and experiences, and publicity. 5. Establish the budget – includes four common methods for deciding on the budget. I. Affordable – here we ask, can we afford marketing activities? Ignores that its an investment. I’. Percentage of sales method – views sales as a determines of promotion rather than the result of. Offers no logical basis for choosing the percentage. Iii. Competitive parity – tries to be at par with competition.

Let’s Just do whatever they are doing. ‘v. Objective and task – here we develop promotion budgets by defining specific objectives, determining the tasks that must be performed to achieve these objectives, and estimating the costs of performing these tasks. These costs will become the budget. 6. Decide on the media mix – the budget must be spread over the eight modes of communication. 7. Measure the results – ask members of the target audience whether: They recognize or recall the message. How many times they saw it. How they felt about the message.

Current attitudes towards the product and company. How many liked the product or talked about it to others. 8. Manage Integrated Marketing Communications (CM). See pig. 277 Setting Communications Mix Factors in Firms must consider type of product, consumer readiness to purchase, and product life cycle. 1 . Consumers and business markets tend to require different allocations. 2. Promotional tools vary in cost effectiveness at different stages of buyer readiness. 3. Promotional tools vary in cost effectiveness at different stages of product lifestyle.