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Marketing Principles

Marketing Principles

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Marketing Principles

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  1. Marketing Principles IMC – Integrated Marketing Communications Oct 23rd, 2009Chap 12 of book

  2. IMC – What is it? • Commonly known as MarCom • It is the mix of different media used to communicate the marketing message;Personal selling, Advertising, Public Relations, Sales Promotion, Sponsorship Marketing & Point-Of Purchase Communications

  3. Good Examples? Also, Service company who uses IMC???

  4. Key Aspects of IMC/MarCom • Start with the customer or prospect – work backwards – when deciding what IMC strat to use • Use any form of relevant contact – if you can afford • Achieve synergy (speak with one voice). Same colours, same brand message • Build Relationships- frequency or loyalty programmes • Affect Behaviour – consumer should be moved to physically buy your product

  5. Changes to MarCom you need to make • If you start to use integrated MarCom you need to:Reduce dependence on mass-media advertising – there are better ways.Increase reliance on highly targetted advertising (database marketing)Keep a firm eye on your IMC effort’s return on investment. Is it financially worth it?

  6. How to choose MarCom mix • Ask the following :*Who is the intended market – b2b, older?*What objectives must MarCom achieve,Profit/sales?*What is the nature of the product – ind. Machine vs toothpaste*What is the Product Life Cycle stage?*What are competitors doing? – Dunnes vs Tesco*What is the available budget?

  7. Managing the MarCom Process • As a marketing manager following steps apply:* Select Target Margets* Establish Objectives* Formulate a Positioning Strategy* Set a budget(Top Down, Bottom Up)* Formulate and implement message and media startegies – hire a marketing company* Evaluate Programme Effectiveness

  8. The MarCom Process • Advertising – ads value to your brand by altering consumers perceptions – what’s your budget, pg 429 book, what’s your advertising message pg 430 bookwhat’s the media you will use – pg 433 book – (reach/portion of target audience, frequency, continuity/times, cost) What is the effectiveness of each medium? Table pg 435

  9. The MarCom Process • Sales Promotion – there has been a shift from advertising to sales promotion…there’s less “spray and pray” involved • Review Sales Promotion Pg. 438 of bookFacilitate the intro of new productsObtain Trial Purchases from customersInvigorate Sales of a mature brand

  10. The MarCom Process • Public Relations – PR is the “hidden” MarCom Tool • Proactive PR; your aim is to have product announcements done by a newspaper editor or TV broadcaster. Sometimes in advertising “personalities” are paid to do this, but Proactive PR achieves this for almost free • Reactive PR is usually undertaken in response to something (bad)

  11. Sponsorship • Corporate Sponsorship – Event Marketing, sponsor music festivals, horse racing etcCause Related Marketing: Donations to good causes etc • See Book pg. 444

  12. Point of Purchase Comms • Signs, Banners, Display units etcGive examples in supermarkets at the momentGood for simplifying the shopping exp for shopperGood for retailer by increasing salesGood for marketer by increasing brand awareness • See pg 445 book