Disclosure Statement Calling, texting or playing with your mobile during class,cross talking, casual behavior, frequent in/outs from classroom, delay submitting your assignments/projects may leadyou to some serious consequences.Dialogs and relevant questions are highly encouraged
Marks DistributionQuizzes (3 Mandatory 2 Optional) 3.33 Marks each Quiz (10 Marks in Total)Assignment (Applied and/or Projects) 10 MarksOthers 5 Marks Class Participation, Discipline, DressingMid Term 25 MarksTerminal 50 Marks
Exam Guidelines Understand the question first, write only what is relevant and asked. Be focused and to the point. Exemplify your argument with relevant examples. Length of answer does not matter at all, it’s the quality of stuff.
Project Guidelines The objective of project is to let you try to implement what you are leaning theoretically. Strictly observe the project out line. You are encouraged to come up with a new and unique product or service. Your performance shall be evaluated on the basis of how effective is your media strategy and how creatively you executed it.
Group Formation Criteria Each group should consist of minimum 2 and maximum 3 students. Solo flights are not allowed nor can a group of 4 students be formed. Once a group is formed, the member(s) cannot change/leave his/her group. The dead line to form your group is 3rd Lecture of the course.
According to AMA:“Marketing is the activity, set ofinstitutions, and processes for creating,communicating, delivering, andexchanging offerings that have value forcustomers, clients, partners, and societyat large." Source: Wikipedia
Integrated marketing communications (IMC) is a process formanaging customer relationships that drive brand value primarilythrough communication efforts.There are five basic tools of integrated marketing communication: Basic Elements of IMC 1. Advertising 2. Sales Promotion 3. Public Relations 4. Direct Marketing 5. Personal Selling Source: http://ezinearticles.com
Direct marketing is just what it sounds like - directlyreaching a market (customers and potential customers) ona personal (phone calls, private mailings) basis, or mass-media basis (infomercials, magazine ads, etc.)A key factor in direct marketing is a "call to action." That is,direct marketing campaigns should offer an incentive orenticing message to get consumers to respond (act).
Mr. Lester Wunderman says:“Direct marketing is a channel-agnostic form ofadvertising that allows businesses and nonprofits tocommunicate straight to the customer, with advertisingtechniques such as mobile messaging, email, interactiveconsumer websites, online display ads, fliers, catalogdistribution, promotional letters etc Source: Wikipedia
Scope of Direct Response Marketing ??? Sme Sizzling Facts !!!
According to “DMA”: ☺US Banks and credit institutions spent $13.4 billions in 2011on direct marketing advertising and generated $178.8 billion in sales. In 2012, these sales are forecast to hit $286.2 billion. ☺Financial services companies’ advertising expenditures for commercial email is expected to have the largest growth among all media types between 2007 and 2012 with a compound annual growth of 22.5 percent.
☺ Internet direct marketing advertising spending in this sector is projected to grow at the second highest rate, at 17.8 percent each year from 2007 to 2012☺ Telephone marketing advertising expenditures for the overall financial services sector are expected to reach $7.4 billion in 2008 and $8.4 billion in 2012.☺ Broadcast advertising sales are expected to climb 4.8 percent each year from 2007 to 2012.☺ Insert media sales in the financial services arena will exceed $1.1 billion in 2008, with banks and credit institutions comprising half of sales.
☺ US online advertising spending to surpass print in 2012☺ Nearly 50% of Internet user in Europe visits newspapers sites.☺ Mobile Banking Service Adoptions to reach over half a million users by 2013☺ US Internet Audiences watched 43.5 billion videos in December☺ Facebook was top search term for the third straight year Source: DMA
☺ Precession Targeting Through the usage of carefully selected mailing lists, and the information contained in customer data bases, the direct marketeers can direct communications to individual or a specific business customers who has been identified as a viable prospect. This reduces the waste inherent in many other types of communications that cannot be so precisely targeted.☺ Personalization The individual consumers can be and often should be addressed by name and business customers can be addressed by name and titles. Information from the databases can be used to select an appropriate appeal or to encourage additional purchases from a customer who have purchased previously.
☺ Call for Immediate Action Direct Marketing calls for specific and immediate action, typically the purchase of a product or a request for more information about it. This call for immediate action works against the prospect’s normal tendency to defer action, often permanently. “Limited time offer” “ Will not be repeated” and “Your Prompt Reply is Requested” are frequently used exhortations.☺ Measurability The most important advantage that direct marketing has over other marketing techniques is its ability to track, and to measure the effectiveness of specific marketing actions. By knowing precisely what worked and what did not, the marketeers can allocate the marketing budgets much more effectively.
☺ Invisible Strategies ☺ Direct Marketing is Interactive; It initiates a two way process “Customer Vs Marketing Team” ☺ It removes the "middle man" from the promotion process ☺ The strategies and tactics of direct marketeers are less visible to competitors than are strategies that must be implemented in the mass media☺ Customer Services An emphasis on customer services, including order fulfillment functions, is important as a mechanism for encouraging regular interactions between the direct marketer and the customer. A popular idea now in direct marketing called relationship marketing places an emphasis on building long term relationships with the customers
Now Can u differentiate ??? Commercial Commercial Source: Youtube
Possible Reasons of Such aTremendous Growth in Direct Response Marketing ???
☺ Changing Lifestyles and Demographics ☺Increasing number of working women. Given less time to go shopping, many of these women found it convenient to select and examine merchandise in their own homes. ☺Rising discretionary income, more single households, and the emergence of the "me" generation ☺External factors include the rising cost of gasoline (at-home shoppers use less gasoline and reduce environmental pollution), the availability of toll-free telephone numbers, the expanded use of credit cards etc.☺ An evolving economy and international Competition☺ Increase Clutter in Media☺ Its Cost Effective
☺ Technological Advances and Innovations The growth of technology in general, and of computer-based technologies in particular, has also played an important role in many areas of direct marketing. New computer technologies have allowed direct marketers to be more precise in the analysis of results, in the targeting of messages based on more complex psychographics and demographics, in developing more sophisticated customer and prospect databases, and even in the creative execution of direct mail packages.
☺ Offer The offer is a complete preposition made by the marketer to a prospective customer. It includes the product or service it self, the price at which it is offered, any adjustments to the price, and other elements of the position strategy for the product☺ Timing/Sequencing The considerations about timing & sequencing includes one *shot message versus **campaign, pulsing versus a steady flow of communication, seasonal effects, and questions of how much repetition is enough ? *Sale completed in one step, such as the sale of a book, versus a sale that involves a series of steps over time, such as the sale of a subscription, that includes renewal of the subscription and delivery of each issue. **An advertising campaign is a series of advertisement messages that share a single idea and theme which make up an integrated marketing communication (IMC).
☺ Creative The Creative component of DM includes the *copy platform, the graphic design elements, any involvement techniques, and the production considerations such personalization *Copy platform are the unique selling points of the product, the product advantage over its direct competitor, the target market and other issues that is given to you by the advertiser that you can highlight in the advertising copy☺ Customer Services The types of customer services offered includes the “toll free telephone numbers, free limited time trial, acceptance of several credit cards, service after sale etc, handling of customer inquiries, complaints and return policy etc.☺ Media The media used by direct marketers includes direct mail, telephone, & world wide web etc
☺ Direct Mail ☺ Mobile ☺ Insert Media ☺ Data Base Marketing☺ Telemarketing ☺ Videotext Direct☺ Catalogue Marketing☺ Direct Response Print ☺ Voicemail Marketing Media ☺ Direct Response☺ Couponing Broadcast☺ Online Tools ☺ Direct Response TV