MKT337 - Exam III Notes

MKT337 - Exam III Notes - MKT337 Exam III Notes 04.06.05...

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MKT337 Exam III Notes 04.06.05 - Chapter 14: Integrated Marketing Communication Strategy Integrated Marketing Communications (IMC) : concept under which a Company Carefully integrates and Coordinates its Many Communications Channels to Deliver a Clear, Consistent, and Compelling Message about the Organization and Its Product(s) or Service(s). communicates to the customers Product’s Price, Design, Package, and Stores that sell the product o Advertising: Any paid form (paid by advertiser for TV time, radio time, billboards, etc.) of impersonal communication messages about products by an identified sponsor Pros: can reach many geographically dispersed buyers; low cost/exposure; repeat message numerous times Cons: impersonal; not as persuasive as direct; one way communication; can be costly Handing you a free sample of pizza at the mall is not advertising b/c that’s personal—not impersonal o Personal Selling: Personal Interaction by sales force for purpose of making sales and building relationships Pros: most effective during building preference, conviction, and actions; builds relationships, buyer will feel obligated to listen and respond Cons: expensive o Sales Promotion: short term incentives to encourage purchase or sale; ex. coupons, contests; flyers, catalogues, etc. Pros: attract attention; offer strong incentives; boosts sagging sales Cons: short lived o Public Relations: building good relations a/ public build up corp. image, etc. impersonal messages about products; may be paid or unpaid (media costs); may not be by am identified sponsor pros: Very Believable, Dramatize a Company or Product; reach ppl that avoid ads and salespeople cons: underused o Direct Marketing: direct connections w/ carefully targeted individual customers to obtain immediate response & cultivate lasting relations; Nonpublic, Immediate, Customized, Interactive ; good for highly targeted marketing efforts and building one on one relationships Changing Communications Environment: o Market Fragmentation Led to Media Fragmentation o Two Factors are Changing the Face of Today’s Marketing Communications: Marketers Have Shifted Away From Mass Marketing Less Broadcasting Improvements in Information Technology Has Led to Segmented Marketing More Narrowcasting Elements in the Communication Process: Key Factors in Good Communication: Sellers Need to Know What Audiences They Wish to Reach and Response Desired. Sellers must be Good at Encoding Messages That Target Audience Can Decode. Sellers Must Develop Feedback Channels to Assess Audience’s Response to Messages. Sellers Must Send Messages Through Media that Reach Target Audiences Steps in Developing Effective Communication: 1
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o 1. Identifying the Target Audience: target audience will effect what is said, how it is said, when said, where said, and who to say to o 2. Determining the Communication Objectives “Hierarchy of Effects” (6 Buyer Readiness Stages)
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This note was uploaded on 06/19/2008 for the course MKT 337 taught by Professor Mcallister during the Spring '07 term at University of Texas.

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MKT337 - Exam III Notes - MKT337 Exam III Notes 04.06.05...

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