MODULE 10: INTEGRATED MARKETING COMMUNICATIONS & PROMOTIONS

• Integrated Marketing Communications => optimizes communication of firm’s message by harnessing and leveraging their benefits.
• Active: visiting brand’s website, following on social media
• Passive: hearing advertisements on radio or on television.
• Traditional Media (one-way communication):

  • Television
  • Radio
  • Billboards
  • Print
• New Media (two-way communication):

  • E-mail Marketing
  • Social Media
  • Internet Search
• Brand Equity

  • Intrinsic value a brand has, given consumers’ awareness of and affinity for it.
  • How a brand represents itself and value publicly, and Brand Image.
  • Studied from two perspectives: cognitive psychology and information economics
  • Important for marketers because relative strength of brand governs how manufactures market the brand
  • Difficult to quantify
  • Quantitative includes numerical values but fails to capture prestige
• Maximize coverage: finite limit to what organizations can and should invest in their marketing activity?

  TRUE
• Being present in every channel may lead to diminishing returns?

  TRUE
• If marketer messages on website, Facebook, etc., then it pays for banner ads, billboards, & print ads?

  TRUE
• Examine customer journey to understand how consumers shop product and how channels function to deliver?

  TRUE
• If product/service is complex or highly visual: consider how best to share details with your target?

  TRUE
• Need to determine how best to measure effectiveness of campaign?

  • Messaging
  • Channels
  • Impact
• Advertising can be useful, if brand equity has been impaired?

  TRUE
• SMART means:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time
• Advertising in Retail

  • Marketing & promotion help facilitate exchange: provide information and context to help better understand.
  • Advertising is necessary to communicate differences in assortment, pricing, & other tactics (Wal-Mart vs. Target)
  • In-store promotion reinforces differentiation, showing consumers how assortment pricing, signage solve issues
  • Manufacturers and brands are desperate to grab consumer’s attention to encourage action/transaction
  • Product packaging can be updated to offer seasonal graphics, specialty sizes, bonus packs, trial packs, special/variety packs.
• Number of ways for brands to breakthrough to customers:

  • Floor Graphics
  • Vinyl Graphics customized for images/messages
• Displays in shelving and shelf location can be used:

  • End caps
  • Side caps
  • Shoppable pallets
  • Displays
• Common Retail Sales Promotions:

  • Variety is limited by creativity of marketer
  • Price multiples, BOGO
  • Rebates
  • Coupons
  • Trial packs
  • Bonus packs
• New Media: interactive and decentralized, two-way communication.
• Direct Marketing in Retail:

  • Easier to see potential advantages of new media channels.
  • Understanding that firms are able to track customer activity on digital platforms.
  • Customer relationship management tools help firms segment customers by behavior.
  • Goal should be to quickly try to recapture the lost sales.
  • Direct marketing gives retailers several tools.
• Online Media and Retail:

  • Very easy to conflate online activity with e-commerce, thinking of the web as a place to transact.
  • Important to step back from e-commerce and evaluate online search as tool that helps consumers interact.
• Digital Marketing is used to connect sellers with potential buyers:

  • Requires web development, optimization, and maintenance
  • Firms bid on keywords to ensure that when searches are made, their website appears among search results
• Social Media and Retail

  • Consumers opt-in to engage with firm, brand, or products
  • Communicate level of interest that cannot be determined through traditional media
  • Communicates in natural way with consumers and customers
  • Gives consumer a platform with which to engage the firm or brand directly
• Other Media Elements

  • Throughout the course, you’ve been introduced to a number of promotional tools and how marketers might use them as part of IMC.
  • Examples shared are illustrative of how traditional and new media can be leveraged inside and outside.
  • Want to select best channels for campaign given budget, strategy, and competitive environment.