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IMC Lecture 3
This document discusses integrated marketing communications and key concepts such as segmentation, targeting, positioning, and establishing communications objectives. It emphasizes that communications objectives should support broader business and marketing goals and be specific, measurable, achievable, relevant and time-bound (SMART). Segmentation provides a framework but should avoid stereotyping; targeting depends on market factors and a segment's viability. Positioning focuses products based on features and benefits in relation to competitors.
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IMC Lecture 3
- 1. Integrated Marketing Communications Customers…Segmentation, Targeting and positioning 3
- 2. 1 2 3 4 5 6 context analysis promotional objectives promotionalstrategy coordinated communications mix implementation Control and evaluation
- 3. Corporate… Marketing… MarketingCommunications mission statement... Should set out customers, their needs and the offering This provides a framework for setting objectives… …these will be within a hierarchy…
- 4. communications objectives... avoid solelyfocusing on sales, what are the key metrics? Business… sales, market share and profit, Behavioural… penetration and loyalty, Intermediate… awareness, attitudes, perceptions help highlight the balance of tactics needed provide a time frame provide a means of evaluation and measurement …SMART
- 5. …why SMART? Specific… toa market, an audience, a goal, Measureable… something quantifiable – how much, how many? Achievable… do we have the resources and capacity to achieve it? Realistic/Relevant… is it appropriate, does it fit with audit findings? Time-bound… when do we want to achieve it by?
- 6. …to utilise experientialmarketing communications to raise awareness of the Buckmoorend Farm brand by 10% by the end of May 2019 …to achieve 60+ sign ups to the Buckmoorend Farm eNewsletter by the 1st of March 2018 …to support an increase in in-store sales of 4% WoW by the end of July 2019 SMART..?
- 7. customer context... segment characteristics decision-makingprocess involvement perceived risk awareness, perception and attitude influence DMU characteristics
- 8. …bases for ConsumerSegmentation • Regional • National • International Geographic • Age • Gender • Family Demographic • MOSAIC • ACORN Geo-demographic • Income • Occupation • Education • Religion • Race • Class • CAMEO
- 9. • Lifestyle • Personality Psychographic •Benefits sought • Purchase occasion • Attitude to product Behavioural • Usage rate • User status • Loyalty …bases for Consumer Segmentation • Interests • Values
- 10. different approaches... changing natureof disposable income Family lifecycle Ageing population Gender roles Technology use and acceptance
- 11. perceived risk… held byconsumers… not necessarily real performance financial social ego physical time
- 12. Benefit segmentation… Segment bybenefits sought by consumers transcends geographic and demographic identify common characteristics or usage patterns
- 13. B2B segmentation... demographic operating variables purchasingapproaches situational factors personal circumstance technology volume capabilities
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- 18. key considerations... avoid heavystereotyping don’t jump to conclusions segmentation as a benchmark or guide engage in profiling where needed
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- 22. targeting... choosing between thesethree options depends on The degree to which the product/market can be considered homogeneous how far the company will be stretched how far the product is into its product life cycle
- 23. influences on targetingstrategy… market factors needs and wants of end users company market share resources and capabilities intensity of competition economies of scale
- 24. DAMP framework… (Kotler,1984) Discernible Accessible Measurable Profitable
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- 26. positioning… products can bepositioned in the market by focusing on specific factors such as… features, benefits or advantages solutions presented specific usage (occasions) positioned against other products class disassociation
- 27. perceptual map cowboy brandspremium brands economy brands bargain brands
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- 29. Other influences onpositioning... benefits age group targeted innovation features style
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- 31. perceptual mapping... think why doesthe gap exist? what are the reasons? may need more research
- 32. What’s important here? Communicationsobjectives need to deliver on broader business and marketing objectives… …and they must be SMART Segmentation is a guide or a benchmark, not a definitive science Target segments need to fit certain criteria to be viable Offerings can be positioned in a variety of ways but they must be relevant to the consumer