Week One: Introduction to Integrated Marketing Communications Business Context & Marketing Orientations Production Belief that consumers will favor products that are available and highly affordable, and therefore management should focus on production and distribution efficiency Problem: The management may become so focused on production systems that they forget the customer Product Belief that consumers will favour products that offer the most in quality, performance, and innovative features Problem: Focusing only on the company’s products can lead to marketing myopia Selling Belief that consumers will not buy enough of the organization’s products unless the organization undertakes a large selling and promotion effort Problem: Doesn’t establish a long-term relationship with the customer because the focus is on getting rid of what one has, rather than creating a product to meet the needs of the market Marketing Belief that achieving organization goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors Problem: Niche opportunities may sometimes remain available long after suppliers recognize the need Benefits: Focuses on customer needs and integrates all the marketing activities that affect customers, thereby meeting the organizational goals by creating long-term customer relationship based on customer value and satisfaction Social Marketing Belief that marketers should approach consumers as whole human beings with minds, hearts and spirits
Customer Relationship Management Lifetime Value of the Customer Losing a customer means losing more than a single sale - It means losing the entire stream of purchases that the customer would make over a lifetime of patronage A company can lose money on a specific transaction but still benefit greatly from a long- term relationship - This is one of the reasons successful companies empower employees to resolve customer complaints Integrated Marketing Communications Need complete solutions to communications Today’s environments are rapidly changing due to the strong influence of technology Must deliver same message through a variety of media to have synergistic impact on the target market
Advertising A persuasive form of marketing communications a designed to stimulate a positive response from a defined target market - Product advertising - Promotional advertising Direct Response Communications Involves the delivery of a message to a target audience of one - Direct mail - Direct response television (DRTV) - Telemarketing - Mobile Communications Digital (Interactive) Communications Using electronic devices to reach target markets - Internet - Smartphone Customer relationship management (CRM) Sales Promotion Involves special incentives to stimulate an immediate reaction from consumers and distributors Consumer Promotion for “Pull” Trade Promotion for “Push” Personal Selling
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