Notes.Chapter16

Notes.Chapter16 - CHAPTER16:INTEGRATEDMARKETING...

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CHAPTER 16: INTEGRATED MARKETING  COMMUNICATION LO 1: The Role of Promotion in the Marketing Mix Few goods or services, no matter how well developed, priced, or distributed, can  survive in the marketplace without effective promotion. Promotion - communication by marketers that informs, persuades, and reminds  potential buyers of product in order to influence an opinion or elicit a response. Promotional strategy - a plan fro the optimal use of the elements of promotion:  advertising, public relations, personal selling, and sales promotion. The marketing manager determines the goals of the company’s promotional  strategy in light of the firm’s overall goals for the marketing mix- product, place  (distribution), promotion, and price. Using these overall goals, marketers combine the elements of the promotional  strategy (promotional mix) into a coordinated plan. The promotion plan then becomes an integral part of the marketing strategy for  reaching the target market. The main function of a marketer’s promotional strategy is to convince target  customers that the goods and services offered provide a competition advantage  over the competition. Competitive advantage - the unique set of features of a company and its  products that are perceived by the target market as significant and superior to the  competition. Such features can include high product quality, rapid delivery, low prices,  excellent service, or a feature not offered by the competition. Promotion is a vital part of the marketing mix, informing consumers of a product’s  benefits and thereby positioning the product in the marketplace. LO 2: The Promotional Mix Promotional mix - the combination of promotional tools- including advertising,  public relations, sales promotion, and personal selling- used to reach a target  market and fulfill the organization’s overall goals. the more funds allocated to each promotional ingredient and the more  managerial emphasis placed on each technique, the more important that element  is thought to be in the overall mix.
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Advertising - impersonal, one-way mass communication about a product or  organization that is paid for by a marketer. One of the primary benefits of advertising is its ability to communicate to a  large number of people at one time. Cost per contact is typically very low.  Advertising has the advantage of being able to reach the masses, but it can  also be microtargeted to small groups of potential customers, such as  television ads on a targeted cable network. Although the cost per contact in advertising is very low, the total cost to 
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This note was uploaded on 03/10/2011 for the course MKT 3401 taught by Professor Jaber during the Fall '08 term at LSU.

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Notes.Chapter16 - CHAPTER16:INTEGRATEDMARKETING...

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