MRKTNG NOTES (CHPTR 11-15).docx - PART 4 THE WORLD OF MRKTNG CHPTR 11 – INTEGRATED MARKETING COMMUNICATION(IMC PG 156 1 Discuss the role of promotion

MRKTNG NOTES (CHPTR 11-15).docx - PART 4 THE WORLD OF...

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PART 4: THE WORLD OF MRKTNG CHPTR 11 – INTEGRATED MARKETING COMMUNICATION (IMC), PG 156 1 Discuss the role of promotion in the marketing mix, PG 157 "A differential advantage is the set of unique features of a company and its products" Promotion: Communication by marketers that informs, persuades and reminds potential buyers of a product in order to influence an opinion or elicit a response. Promotional Strategy Plan: for the optimal use of the elements of promotion: advertising, public relations, direct marketing, personal selling and sales promotion. Differential Advantage: One or more unique aspects of an organisation that cause target consumers to support that firm rather than competitors. 2 Discuss the elements of the promotional mix, PG 158 Promotional Mix: Combination of promotion tools including advertising, direct marketing, public relations, personal selling and sales promotion used to reach the target market and fulfil the organisation's overall goals. Personal Selling: Planned presentation to one or more prospective buyers for the purpose of making a sale. Direct Marketing (Direct-Response Marketing): Techniques used to get consumers to make a purchase from their home, office or other non-retail setting. Advertising: Impersonal, one-way mass communication about a product or organisation that is paid for by a marketer. Sales Promotion: Marketing activities – other than personal selling, advertising and public relations – that stimulate consumer buying and dealer effectiveness. Public Relation (PR): Marketing function that evaluates public attitudes, identifies areas within the organisation that the public may be interested in, and executes a program of action to earn public understanding and acceptance. Publicity: Public information about a company, good or service appearing in the mass media as a news item. Integrated Marketing Communication (IMC): The method of carefully coordinating all promotional activities to produce a consistent, unified message that is customer-focused. Viral Marketing: A marketing method which relies on people to personally pass on a marketing message or information, either by word-of-mouth or through other interpersonal communications. 3 Describe the communication process, PG 161
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Communication: Process by which we exchange or share meanings through a common set of symbols. Interpersonal Communication: Direct, face-to-face communication between two or more people. Mass Communication: Communication to large audiences. Sender: Originator of the message in the communication process. Encoding: Conversion of the sender’s ideas and thoughts into a message, usually in the form of words or signs. Channel: Medium of Communication – such as a voice, radio or newspaper – for transmitting a message.
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