Basic IMC Issues for Marketing Communicators
How to enhance brand equity
How to effect customer behavior
How to justify MARCOM expenses
How to demonstrate financial accountability
Brand
Exists when a marketing entity receives its own name, term, sign, symbol, design, etc.
Organization Perspective
Looks at the outcomes extending from efforts to enhance a brand's value to its various stakeholders.
Effects of Higher Brand Equity
Higher Market share
Higher brand loyalty
Able to charge premium prices
Earning a revenue premium
Brand Equity
The extent that people are familiar with the brand and have favorable, strong, and unique brand associations.
Brand Related Knowledge
Brand Awareness
Brand Image
The Brand Awareness Pyramid
Unaware of Brand
Brand Recognition
Brand Recall
Top of Mind Awareness
Brand Image
The associations that are activated in memory when people think about a particular brand.
Types of Brand Image
Attitudes
Benefits
Attributes
Non-Product (price, packaging, etc)
Product (Color, size, design, etc)
Benefits
Functional - intrinsic advantage
Symbolic - extrinsic advantage
Experiential - usage imagery
Overall Evaluation
Attitude
Speaks for itself
Products are so well made they speak for themselves
Message Driven
Marcom practitioners build positive brand-related associations with repeated claims.
Leveraging
Create meaning and associations for their brands by connecting them with other objects that already possess well-known meaning.
Benefits resulting from enhancing Brand Equity
Consumer Loyalty
Long-term growth and profitability for the brand
Maintain brand differentiation from competitive offerings
Insulate brand from price competition
Brands (lovemarks)
Low Love
High Respect
Products (lovemarks)
Low Love
Low Respect
Fads (lovemarks)
High Love
Low Respect
Lovemarks
High Love
High Respect
Love
Mystery
Sensuality
Intimacy
Mystery
Great Stories
Past Present Future
Taps into dreams
Myths and icons
Inspiration
Sensuality
Sound
Sight
Scent
Touch
Taste
Intimacy
Commitment
Passion
Empathy
Respect
Performance
Trust
Reputation
Marketing
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
Marketing
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Value
Customer's perception of all the benefits of a product or service.
Marketing Mix
Product
Place
Price
Promotion
Integrated Marketing Communication
A strategic business process used to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects, employees, and other relevant external and internal audiences.
Goals of IMC
Project a consistent, unified image to the marketplace
Build long-term brand value
Generate financial returns
Value of IMC
Avoids duplication of marketing efforts
Synergy among promotional tools
More efficient and effective marketing
The Promotional Mix
Advertising
Direct Marketing
Interactive/Internet Marketing
Sales Promotions
Publicity/Public Relations
Personal Selling
Advertising
Paid forms of non-personal communication
Most common forms of advertising
National Advertising
Retail/Local Advertising
Primary vs Selective Demand Advertising
BtoB Advertising
Professional Advertising
Trade Advertising
Direct Response Advertising
Encourages consumers to purchase directly from the manufacturer.
Sales Promotion
Marketing activities that provide extra value or incentives to the sales force, the distributors, or the ultimate consumer, and can stimulate immediate sales.
Consumer-oriented Sales Promotions
Coupons
Samples
Premiums
Sweepstakes
Refunds
Bonus Packs
Loyalty Programs
Events
Trade-oriented Sales Promotions
Trade Allowances
POP Displays
Training Programs
Trade Shows
Coop Advertising
Public Relations
Systematically planning and distributing information in an attempt to control and manage image and the nature of the publicity received.
Personal Selling
A seller attempts to assist or persuade prospective buyers to make a purchase or act on an idea.
The IMC Planning Process
Planning
Executing
Evaluating
Controlling
Advertising
A paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future.
Advertising in US
$ ($1000 per person)
Advertising Functions
Informing
Influencing
Reminding/Increasing Salience
Adding Value
Assisting company efforts
In-House Advertising
Necessitates employing an advertising staff and absorbing the operation costs
Unprofitable unless a company does a loarge amount of continual advertising
Agency Services
Account Services
Marketing Services
Creative Services
Mgmt and Finance
Media Specialist
Specialized in buying media, especially broadcast time
Creative Boutiques
Provide only creative services
Agency Compensation Methods
Commissions from Media
Labor-based fee system
Performance-based programs
Elasticity
A measure of how responsive the demand for a brand is to changes in marketing variables such as price and advertising.
Share of voice
How much a firm spends on advertising relative to other brands in the category.
Share of Market
The predicted market share of a firm based on its advertising spending in comparison to the total level of advertising by all firms in its category.
Targeting
Considered the starting point for marcom decisions.
Allows for precise delivery of marketing communications to targeted markets.
Prevents wasted coverage to people falling outside the target market.
Four General Targeting Characteristics
Demographics
Geodemographics
Psychographics
Behaviorgraphics
Behaviorgraphics
Describe how people behave with respect to a particular product category or class of related products.
Assumes that the best predictor of future behavior is past behavior.
Psychographics
Describes the aspects of consumer's psychological make-ups and lifestyles as they relate to buying behavior in a particular product category.
Attitudes, Values, Motivations
Yankelovich Mindbase Segments
Considers the individual's position on a set of core values with his or her life cycle stage.
Yankelovich Values
Materialism
Technology orientation
Family values
conservatism
cynicism vers optimism
social interaction
activity level
Innovators
Successful, sophisticated, take-charge, with high self-esteem.
Thinkers
Mature, satisfied, comfortable, and reflective; valuing order, knowledge, and responsibility and motivated by ideals.
Believers
Conservative, conventional with concrete beliefs based on traditional, established codes: family, religion, community, and the nation; motivated by ideals.
Achievers
Motivated by the desire for achievement; have goal-oriented lifestyles and a deep commitment to career and family.
Strivers
Trendy and fun loving
Household
An independent housing entity, either rental property or owned property.
Good Brand Names
Distinguish the brand from competitive offerings
Facilitate consumer learning of brand associations
Achieve compatibility with brand's desired image and with its product design or packaging
Memorable and easy to pronounce
Good Logos
Recognized readily
Convey essentially the same meaning to all target members
evoke positive feelings