Marketing communication includes advertising, public relations, sales promotion, direct response, events and sponsorships, point of sale, digital media, and others.
In some ways, public relations can do a more credible job than advertising or some of the other tools on this list. Why is this so?
How, then, does marketing differ from advertising? Marketing is designed to build brand and customer relationships that:
generate sales and profits.
for nonprofits: volunteers and donations.
Marketing managers manipulate the marketing mix, also called the four Ps:
Product
Price
Place
Promotion
Marketing also focuses on managing customer relationships to benefit all of a brand’s stakeholders. Stakeholders are all individuals and groups who have a stake in the success of the brand. Positive relationships create value for a brand.
Consider this key principle:
“The challenge is to manage all of the messages delivered by all aspects of marketing communication so that they work together to present the brand in a coherent and consistent way.”
What does this principle mean to you as a class? Provide examples of companies who appear to be doing this well.
Who are the key players in the marketing game? There are four categories:
Marketers
Suppliers
Vendors
Distributors
Marketing partners
How is this information important as a career guide?
The marketing mix includes the product. Design, performance, and quality are key elements.
Communication works to build awareness of a brand, explain how the new product works, and how it differs form competitors.
Pricing is another key element.
It is based on what the market will bear, the competition, what the consumer can afford, the relative value of the product, and the consumer’s ability to gauge that value. The price always sends a message!
Place (distribution) includes the channels used to make the product easily accessible to customers.
The distribution channel also sends a message. The Internet raises new distribution questions related to “clicks or bricks.”
Marketers may use a “push” or “pull” strategy.
As a class, what do you know about the Puma brand?
Have students discuss their own purchasing experiences. What made students purchase Puma over other shoe brands on the market?
How is this true? What examples can you think of from your own life to underscore this principle?
Added value is another key concept.
Marketing communication activities are also useful because they add value to a product. Added value makes a product more valuable, useful, or appealing to a consumer.
Consider the added value of Harley-Davidson Motorcycles or Idaho Potatoes.
Let’s define “brand:”
A brand is a perception, often imbued with emotion, which results from experiences with and information about a company or a line of products.” Products carry brands, but so do organizations.
How does the distinctive brand for Keds differ from Puma?
Which one would you buy, and why?
Meaning-making ideas and images are what marketing communication delivers to brands. This perception, called brand meaning, is the one aspect of a brand that can’t be copied. A brand, then, is a basically perception loaded with emotions and feelings.
Successful brands are distinctive, create an association, offer a benefit, carry a heritage, are simple, and are often based on a distinctive graphic. This could be a logo, trademark, character or other visual cue.
Brand image is a mental picture or idea about a brand that contains both associations and emotions. Brand personality symbolizes the personal qualities of people you know.
The value of branding lies in the power of familiarity and trust to win and maintain consumer acceptance. Brand value comes in two forms:
Value to a consumer
Value to the corporation
Brand extension is the use of an established brand name with a related line of products. Co-branding uses two brand names owned by two separate companies to create a partnership offering.
In brand licensing, the brand is rented to another business partner. In ingredient branding, the brand name is used in manufacturing, advertising or other promotion.
With which brands do you share a particularly strong relationship? Can you explain why?
What types of brand communication does this company use to deliver reminders and build trust?
Managers are challenged to prove they are pursuing the most effective marketing strategies.
Return on investment (ROI) asks, what did the program cost, and what did it deliver in sales?
Global marketing is growing rapidly.
A local brand is marketed in a single country. A regional brand is one marketed throughout a global region. An international brand is available in many different countries. A global brand is available virtually everywhere in the world.
As a class: See if you can identify the global marketing strategies each of these companies.
Where have you seen these brands before? How might they be marketed according to geographic region?
Key lessons:
Millward Brown, a leading global research agency, ranked McDonald’s as the fourth most valuable global brand for 2012, by far the highest-ranking fast-food company.
What makes McDonald’s brand marketing approach work so well? Have students share individual brand experiences they have had with the restaurant.