Before Medibank can decide on what promotional mix to use, Medibank should consider the changing marketing communication landscape. These include advent of specialty media, especially digital, rising media costs, declining audiences for traditional media, availability of ‘on-demand’ viewing and listening i.e. time shifting and ‘zapping’, ‘cross-screening’ meaning the usage of tablets, smartphones & TV, availability of rich content that facilitates interaction and engagement, and audience fragmentation and the desire to communicate with more tightly targeted, smaller groups of consumers. These factors will help Medibank in deciding with which promotional mix to undergo. Thus, Medibank need to consider an integrated marketing communications.
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Objectives setting should be the first decision. Thus, Communications objectives, is one factors. So in Medibank’s case a communication objective could be to get 15% more consumers know more about travel insurance. Another factor of objective setting is sales objectives. Thus, in Medibank’s case a sales objective could be to get at least in one month 1,000 more customers onto signing up for travel insurance. Advertising objectives should be based on past decisions about the target market, positioning, the marketing program. Advertising objectives could be informative meaning extensively used to introduce a new brand or category, aims to create selective demand. Persuasive (‘attack-advertising), Aim is to persuade consumers of a product or brand merit. Often executed as ‘comparative’ advertising. Lastly Reminder, it is important for mature products and aims is often to move consumers into action, also used to strengthen brand relationships. The next consideration which Medibank needs to consider is Budget decisions, meaning getting what you need to get across in the most affordable way. Further decisions for Medibank is Message and media …show more content…
When thinking about personal selling Medibank need to look at the steps in personal selling process. Which are as follows: Pre-approach, which is background research where you learn about the organization (what it needs, who is involved in the buying), and studying buyer (their characteristics and buying styles). Following this is approach, which involves greeting, opening lines and follow-up. The second step is presentation which means telling the ‘value story’, Show how the company’s offer solves the customer’s problems. Following this is handling objections, meaning to seek out hidden objections, ask buyer to clarify objections. Lastly closing, which recognizes buyer readiness signals. Following this is
Objectives setting should be the first decision. Thus, Communications objectives, is one factors. So in Medibank’s case a communication objective could be to get 15% more consumers know more about travel insurance. Another factor of objective setting is sales objectives. Thus, in Medibank’s case a sales objective could be to get at least in one month 1,000 more customers onto signing up for travel insurance. Advertising objectives should be based on past decisions about the target market, positioning, the marketing program. Advertising objectives could be informative meaning extensively used to introduce a new brand or category, aims to create selective demand. Persuasive (‘attack-advertising), Aim is to persuade consumers of a product or brand merit. Often executed as ‘comparative’ advertising. Lastly Reminder, it is important for mature products and aims is often to move consumers into action, also used to strengthen brand relationships. The next consideration which Medibank needs to consider is Budget decisions, meaning getting what you need to get across in the most affordable way. Further decisions for Medibank is Message and media …show more content…
When thinking about personal selling Medibank need to look at the steps in personal selling process. Which are as follows: Pre-approach, which is background research where you learn about the organization (what it needs, who is involved in the buying), and studying buyer (their characteristics and buying styles). Following this is approach, which involves greeting, opening lines and follow-up. The second step is presentation which means telling the ‘value story’, Show how the company’s offer solves the customer’s problems. Following this is handling objections, meaning to seek out hidden objections, ask buyer to clarify objections. Lastly closing, which recognizes buyer readiness signals. Following this is