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Marketing Communications

Marketing Communications. Key considerations for MARCOM adapted from What is Marketing?. 1. Market—who is the target market? Define clearly—demographic, geographic, lifestyle Different niches Mission—what is the purpose? Awareness Features Prestige Other?

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Marketing Communications

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  1. Marketing Communications

  2. Key considerations for MARCOMadapted from What is Marketing? 1. Market—who is the target market? • Define clearly—demographic, geographic, lifestyle • Different niches • Mission—what is the purpose? • Awareness • Features • Prestige • Other? adapted from What is Marketing? HBS press

  3. Key considerations for MARCOM 3. Message—what benefits are you communicating? • Tell a compelling story (for target market) • Utilize peer network • Differentiate from competitors 4. Media—which media will you use? • Consider the budget • Figure out what is newsworthy— • Utilize the media target market consumes adapted from What is Marketing? HBS press

  4. Key considerations for MARCOM 5. Money/Budget • How can you get the most for your dollar? • How much money is available? • How will you justify the expenditure? 6. Measurement • What is required in your business environment? • How will you measure your success? adapted from What is Marketing? HBS press

  5. Decision Making Unit • Initiator—recognizes the problem to be solved • Decider—makes the choice • Influencer—has input although doesn’t make final choice • Purchaser—actually does the transaction/buys • User—consumers of the product or service • Gatekeeper--applies to B2B marketing --allows or prevents access to decision maker

  6. PublIC RELATIONS Tools Cold Calls Media Tours and/or Trials Collateral Materials Special Events—trade shows, conferences • Press Releases (see samples on Course Page) • Websites • Social Media • Direct Marketing & Mailings

  7. PublIC RELATIONS Tools Investor Relations Government Relations Community Relations & Philanthropy • Speaking Engagements • Sponsorships • Employee Relationships

  8. Sales Promotions Premium prices Buy one, get one free Coupons Rewards/loyalty cards Product demonstrations • Advertising • Tell a story • Problem solve • Generate an emotional response—DRAMATIZE! Febrezemakes stinky stuff smell better! 18.2% increase in sales in 10 weeks! (P&G brand) www. forbes.com by Jerry McLaughlin (7/11/12)

  9. CROWDSOURCed funding • www.kickstarter.com • http://www.indiegogo.com/ FUNDING + PR from these resources!

  10. Mobile Marketing The Third Screen 1. TV 2. Computers 3. Mobile Phones

  11. Press Release Definition: a public relations announcement issued to the news media and other online or targeted publications to let people know about new products or services and/or company developments. It’s FREE PUBLICITY

  12. BENEFITS FROM Press Releases • News story can be almost a recommendation (a positive one) • Multiple stories from one press release • Real prospects can result (maybe more than from ads)!

  13. EXAMPLE OF WHAT NOT TO WRITE IN PRESS RELEASE “Release 6.0 doubles the level of functionality available, providing organizations of all sizes with a fast-to-deploy, highly robust and easy-to-use solution to better acquire, retain and serve customers.” PROBLEMS: sounds like an ad not newsworthy says little (non-specific)

  14. Essentials of PRESS REleases • Must be newsworthy • Should sound like a reporter wrote it • who, what, where, when, how, why • Include good quotes • Internal sources (CEO) • External sources (3rd party) • Make personal contact with news outlets • Have an up-to-date list of outlets (relevant to product/service) SEE COURSE PAGE for examples of press releases

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