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Session 30 MG 220 MBA - 25 Nov 10

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Session 30
MG 220 Marketing Management
MBA 10

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Session 30 MG 220 MBA - 25 Nov 10

  1. 1. MG 220 Marketing Management MBA 10 Fall 2010 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk Access it online: www.slideshare.net/talhasalam Part 7: Communicating Value > The Role of Marketing Communications > Developing Effective Communications > Deciding on Marketing Communications Mix > Managing the Integrated Marketing Communications Process Class Presentation | Session 30 | 25 Nov 2010
  2. 2. Access it online: www.slideshare.net/talhasalam The Role of Marketing Communications Concept Marketing Communication and Brand Equity • The means by which firms attempt to inform, persuade, and remind consumers, directly or indirectly, about the products and brands they sell Marketing Communications Mix MG 220 Marketing Management 2
  3. 3. Access it online: www.slideshare.net/talhasalam The Role of Marketing Communications Concept Marketing Communications Mix - Definitions • Advertising Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor • Sales Promotion A variety of short-term incentives to encourage trial or purchase of a product or service • Events & Experiences Company-sponsored activities and programs designed to create daily or special brand-related interactions • Public Relations & Publicity A variety of programs designed to promote or protect a company’s image or its individual products • Direct Marketing Use of mail, telephone, fax, e-mail or internet to communicate directly with or solicit response or dialogue from specific customers and prospects • Personal Selling Face to face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions and procuring orders MG 220 Marketing Management 3
  4. 4. Access it online: www.slideshare.net/talhasalam The Role of Marketing Communications Concept Marketing Communications Mix - Examples • Advertising Print and broadcast ads, Brochures, Posters, Billboards, POP displays • Sales Promotion Contests, sweepstakes, Premiums, Sampling, Coupons, Rebates • Events & Experiences Festivals, Arts, Causes, Factory tours, Company museums, Street activities • Public Relations & Publicity Press releases, Seminars, Annual reports, donations, Community relations, Lobbying • Personal Selling Sales presentations, Sales meetings, Incentive programs, Samples, Fairs and trade shows • Direct Marketing Catalogs, Mailings, Telemarketing, Electronic shopping, TV shopping, Fax mail, E-mail, Voice mail CONSISTENCY IN MESSAGE BY INTEGRATING THESE MARKETING COMMUNICATIONS IS REQUIRED MG 220 Marketing Management 4
  5. 5. Access it online: www.slideshare.net/talhasalam The Role of Marketing Communications The Communication Process Models Macro-model of Marketing Communications • Major parties in Communication – Sender | Receiver • Major Communication Tools – Message | Media • Major Communication Functions – Encoding | Decoding | Response | Feedback These processes operate during communication • Selective Attention • Selective Distortion • Selective Retention MG 220 Marketing Management 5
  6. 6. Access it online: www.slideshare.net/talhasalam The Role of Marketing Communications The Communication Process Models Micro models of Marketing Communications • Response hierarchy models • Learn-Feel-do sequence • Buyer passed through: – Learn-Feel-do – Do-Feel-Learn – Learn-Do-Feel • Fragility of Marketing Communications • Example: If at all stages success prob. is even 50% MG 220 Marketing Management 6
  7. 7. Access it online: www.slideshare.net/talhasalam Developing Effective Communications • Identify Target Audience – Use Segmentation strategies – Analyze target audience: • Image Analysis • Favorability Analysis • Familiriaty Analysis MG 220 Marketing Management 7 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  8. 8. Access it online: www.slideshare.net/talhasalam Developing Effective Communications • Determine Objective – Category Need • Developing need for a certain category – Brand Awareness • Identifying a brand within a certain category – Brand Attitude • Evaluation of brand to meet a relevant need – Brand Purchase intention • Taking purchase-related action MG 220 Marketing Management 8 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  9. 9. Access it online: www.slideshare.net/talhasalam Developing Effective Communications • Design Communications – Message Strategy (what to say) • Looking for appeals related to brand positioning • To help establish POPs and POPs – Creative Strategy (how to say it) • Informational Appeals – giving information • Transformational Appeals –emotional attributes – Message Source (who to say it) • Source should have credibility through: – Expertise – Trustworthiness – Likability MG 220 Marketing Management 9 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  10. 10. Access it online: www.slideshare.net/talhasalam Developing Effective Communications • Select Channels – Personal Channels • Advocate Channels (e.g. salesforce) • Expert Channels (e.g. independent experts) • Social Channels (e.g. neighbors, family, friends) – Non-Personal Channels • Media • Sales Promotions • Events and Experiences • Public Relations – Integration of Communication Channels MG 220 Marketing Management 10 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  11. 11. Access it online: www.slideshare.net/talhasalam Developing Effective Communications • Establish Total Mktg. Comm. Budget – Affordable Method – Percentage-of-Sales method • More result oriented, variable cost • No logical basis for choosing the “%age” – Competitive-Parity method • Budget established to achieve ‘share-of-voice’ parity with comp. • Collective wisdom (?) & preventing promotion wars (?) – Objective-and-task method • Establish market share goal • Determine %age of market that should be reached by advertising • Determine %age of aware prospects that should be persuaded • Determine number of ad impressions per 1 percent trial rate • Determine number of Gross Rating points (GRPs) • Determine req. advertising budget on basis of avg. cost of GRP MG 220 Marketing Management 11 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  12. 12. Access it online: www.slideshare.net/talhasalam Deciding on Marketing Communications Mix Characteristics of Marketing Comm. Mix Advertising • Long-term image | trigger sales | reach geog. dispersed customers – Pervasiveness (several repetitions) – Amplified expressiveness – Impersonality (it is monologue) Sales Promoti0n • Stronger & Quick buyer response | Short-run effects – Communication – Inventive – Invitation Public Relation & Publicity • Coordinated with other elements of mix – High credibility – Ability to catch buyers “off-guard” – Dramatization MG 220 Marketing Management 12 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  13. 13. Access it online: www.slideshare.net/talhasalam Deciding on Marketing Communications Mix Characteristics of Marketing Comm. Mix Events & Experiences • Costly yet having many advantages – Relevant – Involving – Implicit Direct Marketing • Forms: Direct Mail, telemarketing, internet marketing – Customized – Up-to-date – Interactive Personal Selling • Most effective in later stages, good for building preferences – Personal interaction – Cultivation – Response MG 220 Marketing Management 13 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  14. 14. Access it online: www.slideshare.net/talhasalam Deciding on Marketing Communications Mix Factors in Setting the Marketing Comm. Mix Type of Product Market • Consumer markets: more spend on sales prom. & advertising • Business markets: more on personal selling Buyer-Readiness Stage • Cost-effectiveness of communication tools vary at different stages of buyer readiness Product Life-Cycle Stage • Cost effectiveness of communication tools vary as with PLC stages MG 220 Marketing Management 14 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  15. 15. Access it online: www.slideshare.net/talhasalam Deciding on Marketing Communications Mix Measuring Communication Results Feedback Measurement • After implementing the plan: • Impact on target audience is to be measured • Surveyed to ask: – Whether they have recall – How many times they saw it – What points they recall • A good example of measured results: MG 220 Marketing Management 15 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  16. 16. Access it online: www.slideshare.net/talhasalam Managing the IMC – Integrated Marketing Communications Coordinating Media • Personal and Non-personal channels to be coordinated Implementing IMC • IMC concept has been relatively slow to take hold: – Large companies have several specialist organizations – They don’t know much about other channels/tools – Global companies use different agencies in different countries • Still a few agencies have improved by integrating with different specialist companies – by acquiring them • Offering one-window solutions MG 220 Marketing Management 16 Identify Target Audience Determine Objective Design Communications Select Channels Establish budget Decide on media mix Measure results Manage IMC
  17. 17. MG 220 Marketing Management MBA 10 Fall 2010 Muhammad Talha Salam, Asst. Professor talha.salam@nu.edu.pk Access it online: www.slideshare.net/talhasalam Part 7: Communicating Value > Developing and Managing an Advertising Program > Deciding on Media and Measuring Effectiveness > Sales Promotion: SKIM > Events & Experiences: SKIM > Public Relations: SKIM Class Presentation | Session 31 | 29 Nov 2010

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