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Mastering Integrated Marketing Communications: Strategies and Budgeting

Explore the AIDA concept, promotional mix elements, push and pull strategies, budgeting methods, and more in this comprehensive guide to integrated marketing communications.

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Mastering Integrated Marketing Communications: Strategies and Budgeting

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Presentation Transcript

  1. Chapter 14Basic Version Integrated Marketing Communications

  2. Outline • Promotion, marketing communications and IMC defined • AIDA concept • The promotional mix • Direct marketing • Optimal promotional mix • Push and Pull Strategies • Budgeting

  3. PromotionFunction of informing, persuading, and influencing the consumer’s purchase decision • Marketing communicationsTransmission from a sender to a receiver of a message dealing with the buyer-seller relationship • Integrated marketing communications (IMC) Coordination of all promotional activities to produce a unified, customer- focused promotional message

  4. AIDA concept(Attention-Interest-Desire-Action) – an explanation of the steps through which an individual reaches a purchase decision • Sender • Encoding • Channel • Decoding • Response • Feedback • Noise

  5. Elements of the Promotional Mix • Promotional mixSubset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of personal and non-personal selling to achieve promotional objectives • Personal selling, advertising, and sales promotion usually account for the bulk of a firm’s promotional expenditures

  6. Direct Marketing Communications Channels • Direct mail • Catalogues • Telemarketing • Direct marketing via broadcast channels • Electronic direct marketing channels

  7. Developing an Optimal Promotional Mix • Factors that influence the effectiveness of a promotional to mix: • Nature of the market • Nature of the product • Stage in the product life-cycle • Price • Funds available for promotion

  8. Pulling and Pushing Promotional Strategies • Pulling strategyPromotional effort by a seller to stimulate demand among final users, who will then exert pressure on the distribution channel to carry the good or service, pulling it though the marketing channel • Often a reliance on advertising and sales promotion • Pushing strategyPromotional effort by a seller to members of the marketing channel intended to stimulate personal selling of the good or service, thereby pushing it through the marketing channel

  9. Budgeting for Promotional Strategy • Percentage-of-sales method • Fixed-sum-per-unit method • Meeting competition method • Task-objective method

  10. Thank You For Your Time

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