shows how money will be spent and how profitable the investment will beoitemizes all activities and indicates the associated costs opossible provision of financial history •evaluation and controlomarketing control: process of measuring and evaluating the results of marketing strategies and plans and of taking corrective action to ensure marketing objectives are achieved oprovides opportunity to change if necessary Marketing Communications Plan Model(diagram)Marketing Communications Planning•external agents re often responsible for preparing plans•contribution of each communications component must be determinedoshort term versus long-term benefit•components must be integrated to present a unified messageMarketing Communication Objectives •build awareness and interest•change consumer perceptions•differentiate product•attract new markets•increase usage•offer incentives•create goodwill•create leads•motivate new distributors Marketing Communications Plan Components •advertising plan•direct response plan•interactive plan•sales promotion plan•public relations plan•experiential marketing plan•personal selling plan•depending on the objectives to be achieved, competitive activity, and budget, the best combination of marketing communications components is recommended. Each situation is unique.
Measuring & Evaluating Marketing Communications •essential to monitor all programs to distinguish effective and ineffective activities•each element should be accountable for what it can accomplish Chapter 3Defining the Brand•brand: the sum of all tangible and intangible characteristics that make a unique offer to customers•brand name, brand logo, trademarkBrand Characteristics•personality•need to offer something unique•quality assurance•express a set of valuesBrand Loyalty•degree of consumer attachment to a particular brand •the stages of brand loyaltyobrand recognition: consumer is aware of the name, benefit, and packageobrand preference: brand is top of mind and considered a good alternative. Consumer will buy if availableobrand insistence: consumer buys one brand only. If brand is not available, the purchase is postponedBrand Equity•the value of a brand in its holistic sense to its owners as a corporate asset •influenced by:oawarenessodegree of customer loyaltyoperceived qualityoassociation with a certain attribute Canada’s Leading Brands•pharmacy – Jean Coutu•Quick Serve Restaurant – Tim Hortons•Pharmacy – Shoppers Drug Mart•Airline – Westjet•Technology – Research in Motion Consumer Benefits of Branding•Suggests certain level of quality •Psychological rewards•Distinguishes competitive offeringsMarketing Benefits of Branding •Unique selling point (USP)
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- o Marketing communications