The Promotional Mix

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Integrated marketing communication (IMC)

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the design of marketing communication programs to coordinate all promotional activities -advertising,personal selling, sales promotion, direct marketing and public relations and provide a consistent image of an organization to al its audiences.

aka-promotional mix

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Communication

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the process of conveying a message to others and requires six elements: source, message, channel of communication, receiver and the processes of encoding and decoding

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source

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may be a company or person who has the information to convey

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message

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the information sent by the source

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channel of communication

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what the message is conveyed through

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receivers

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people who read, hear or see the emssage

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encoding

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the process of having the sender transform an idea into a set of symbols

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decoding

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the process of having the receiver take a set of symbols, the message andt ransform them back to an idea

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Advertising

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refers to any kind of paid media insertion

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personal selling

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a two-way cotnact between a customer and a representative of the organization. Takes place between manufacturers and retailers so customers may not see much of it in action.

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sale promotion

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a short-term inducement offered to arouse customers' interest in a good or service to spur short-term sales

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public relations

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is an attempt by a firm to influence publicity, controlled/maintained by a company

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publicity

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is a nonpersonal, indirectly paid presentation of an organization, good or service within the media

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direct marketing

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the commincation with customers to generate an order, a request for further info or a visit to a retail outlet. Three major forms: direct mail, telemarketing, spam

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direct mail

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one of the 3 forms of direct marketing, refers to letters, flyers or other advertisements received through US mail

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telemarketing

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a form of direct marketing that involves making direct telephone contact with customer

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spam

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form of direct marekting that is unsolicited e-mail messages

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permission marekting

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relies on customers to sign up for e-mails from a particular organization

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sponsorship

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a marketing tool by which a company pays to have its name or advertisement attached to some portion of an event

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ambush marketing

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occurs when a company that is not an official sponsor of an event receives publicity from the event at a much lower cost, thus stealing the thunder of the official sponsor

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event marketing

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occurs when instead of sponsoring an existing event, a company creates its own event

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product placement

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when a firm inserts a vrand name product into a movie, viedeo game, or televesion show in order to gain exposure

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straight fee placement

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the owner of a the brand that will appear in the programming pays a fee to the producer of the movie or television program

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Reciprocal (cross-marketing)

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a situation in which a movie or television show features a product and the proudct in turn advertises for the movie or television show

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barter

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company provides a product for use in television show or movie in exchange for the exposure generated from its use

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reverse product placement

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takes a fictitious product out of a movie and puts onto the real world sheles

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infomericals

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generally 30-minute long commercials, often involving celebrity endorsements, discussions, and product demonstartions

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branded entertainment

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use entertianment to gain viewers' attention and focus them on a specific brand or product

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viral marketing

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uses e-mail and Internet to "spread the word" about a good or service" makes users want to naturally share entertainment content with their friends

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advergaming

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online game or videogame specific to a particular brand

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consumer-generated media (CGM)

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ads that are created by consumers

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synergy

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is the concept that the whole is greater than the sum of the parts. Because the elements of the promotional mix complement each other, they build on another in such a way that they are more effective when put together than when operating independently

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feeback

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a method of checkign how well the emssage traveled from the source to the audience

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noise

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error, distortion of a message or of feedback

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personal source

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direct personal contact between source of the message and its recipient

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impersoanl cotnact

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occurs through some form of mass media, like advertising

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market controlled sources

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directly controlled by the firm, usualyl because the firm has paid fo rit

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independent source

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not directly tied to or compensated by the firm

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word fo mouth

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communication from consumer to consumer about a product or firm - HUGE INFLUENCE

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buzz marketing

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a companys attempt to influence the nature and amount of word of mouth being circulated about its products or services

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guerilla marekting

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intended to create a buzz about a product and generate word of mouth. refers to grassroots marekting effors. aka "hit-and-run-marketing"

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credibility

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the extent to which people believe what an endorser says. two factors taht influece it are expertise and truworthiness

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attractiveness

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not necessarily refers to physical attractiveness but endorser's overall attractiveness as an individual

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Q-score

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measures a celebrity endorser's popularity and effectiveness based on familiarity and likeability

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hierarchy of effects model

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proposes that a consumer goes througha series of mental stages when purchasing a product - awareness, interest, evaluation, trial, adoption

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informational appeal

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use of simple info about the product to persuade consumers to buy the brand

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comparative appeal

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compare the value of the brand the firm is trying to sell to the value of competing brands

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image appeal

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try to associate a positive image with brand

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fear appeal

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play on some aspect of fear the audience may already have describing how the product diminishes it. The danger in using this type of appeal is of arousing the fear but not succeeding in alleviating it.

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humor appeal

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use entertainment and/or good feeligns to interest consumers in the product, grabs a consumers attention and is usually memorable

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sex appeal

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entice the consumer to buya product - if ad is too sexy, the people will remember the sex but not the brand

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channel

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the medium used to get the message to the audience

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personal medium

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face to face meeting

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imeprsonal medium

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advertising public relations

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audience

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firm's target audience or group of prospective buyers toward which a promotional program is directed

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field of experience

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similar understanding and knowledge they apply to the message; sender and receiver must have the same communication to be effective

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product cahracteristics

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complexity, risk, ancillary service

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complexity

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technical sophistication of the product, amount of understanding needed to use it

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risk

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assessed in terms of financial social or physical risk

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ancillary service

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degree of service or support required after the sale

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stages of the buying decision

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prepurchase stage, purchase stage, postpurchas stage

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prepurchase stage

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advertising more helpfulb ecause informs potential customers of the product; sales promotion helps with low-risk trial

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purchase stage

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personal selling most important and advertising lowest; sale promotion helps to encourage the sale

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postpurchase stage

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personal selling good because more satisfies if remain in contact; adveritising with repurchase

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push strategy

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directing the promotional mix to channel memvers to gain their cooperation in ordering and stocking productl goal to get channel members to push the product to customers

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pull strategy

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directing the promo mix at ultimate consumers to encourage them to ask the reailer for a product; direct-to-consumer advertising

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percentage of sales budgeting

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funds are allcoated to promotion as a percentage of past or anticipated sales
i. simple + provides financial safeguard by tying the promotion budget to sales
ii. implies sales cause promotions, which is not goodd

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competitive parity budgeting

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matching the competitor's absolute level of spending or the proportion per point of market share
i. must understand the competition; can't always just math it because they may have different ibjectives
ii. consumer responses to promo affected by competition; so need to to have equal amount more

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all-you-can-afford budgetign

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money allocated to promo only after all other budget items are covered
i. typically with small businesses; fiscally conservative with little else to offer

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objective and task budgeting

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company determines objectives, outlines the tasks, and determines the cost for the task
i. takes into account what the compnay wants to accomplish
ii. need to make judgements as to waht's necessary to complete the tasks

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direct orders

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result of offers that contain all the info necessary for a prospective buyer to make a decision to purchase and complete the transaction

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lead generation

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offer deisgned to generate interst in product or service and request for additional info

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traffic generation

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offer designed to motivate people to visit a business