CHAPTER 1 NOTES - PowerPoint PPT Presentation

1 / 15
About This Presentation
Title:

CHAPTER 1 NOTES

Description:

Creating exchanges between buyers and sellers. Exchange involves ... Publicity. Point of Purchase Communication. Brand Level Marketing Communication. Brand ... – PowerPoint PPT presentation

Number of Views:44
Avg rating:3.0/5.0
Slides: 16
Provided by: mph9
Category:

less

Transcript and Presenter's Notes

Title: CHAPTER 1 NOTES


1
CHAPTER 1 NOTES
  • MKTG 3033 Advertising and Promotion
  • Dr. Melodie Philhours

2
Marketing
  • Creating exchanges between buyers and sellers
  • Exchange involves giving up something of value
  • Goal of successful marketing is to make a
    customer rather than make a sale
  • Builds brand equity

3
Communication
  • Process by which thoughts are conveyed and
    meaning is shared

4
Marketing Communications
  • Activities that result in shared meaning about
    brands between buyers and sellers
  • The brand and its meaning must be made different
    from the competition
  • Marketing Communications Management
  • All activities required to implement a marketing
    communications strategy

5
Major Forms of Marketing Communication
  • Personal Selling
  • Advertising
  • Mass or Direct Communication
  • Sales Promotion
  • Trade-oriented or Consumer-oriented
  • Sponsorship Marketing
  • Publicity
  • Point of Purchase Communication

6
Brand Level Marketing Communication
  • Brand
  • Name, term, sign, symbol, or design, or a
    combination of these intended to identify the
    market offering of one firm and differentiate
    them from those of competitors
  • Brand Equity
  • Consumers degree of awareness about the brand
    and its image
  • Greater brand equity means favorable, strong, and
    unique associations with a particular brand

7
More About Brand Level Marketing Communication
  • Brand is a generic label for any object of
    concerted marketing effort
  • Promotion and related marketing efforts occur at
    the brand level
  • Brands, like a nickname, differentiate objects or
    people from one another
  • Brand loyal customers know what the brand
    delivers in terms of satisfaction and performance
  • Brand loyal customers do not need to think much
    about the purchase decision
  • Strong brands create barriers to entry for
    competitors and enable mass production
  • A well-recognized brand can help introduce new
    products and command significant power with
    retailers

8
Brand Equity Framework
  • Brand Knowledge
  • Brand Awareness
  • Brand recognition
  • Brand recall
  • Brand Image
  • Types of brand associations
  • Product attributes
  • Benefits
  • Overall evaluation of brand or attitude toward
    brand
  • Favorability, strength, and uniqueness of memory
    associations with a brand

9
Enhancing Brand Equity
  • Goal of brand equity is building knowledge of
    attributes and importance of benefits in
    customers minds to increase brand loyalty
  • Brand-Concept Management
  • Promoting specific product meanings to target
    markets

10
Brand Concept Management
  • Planning, implementation, control of a brand
    concept throughout the life of the brand the
    specific meaning of a brand
  • Brand Meanings
  • Functional needs
  • Symbolic needs
  • Experiential needs

11
Integrated Marketing Communications
  • Process of developing and implementing various
    forms of consistent communication elements with
    customers
  • Speaking with one voice

12
Key Features of IMC
  • Start with Customer
  • Moving potential customers to trial, purchase,
    and brand loyalty
  • Use Any and All Forms of Contact
  • Achieve Synergy
  • Single positioning statement
  • Build Relationships
  • Affect Behavior

13
IMC Changing Marketing Communication
  • Reduced use of mass media advertising
  • Increased use of highly targeted communication
    methods
  • Greater demands on marketing communication
    suppliers
  • Increased accountability for communications
    return on investment

14
Adoption of IMC
  • Firms more likely to have adopted IMC are
  • Smaller firms
  • Service marketing firms
  • B2C companies
  • Firms whose budgets are predominantly allocated
    to advertising
  • Firms with higher market shares
  • Firms managed by experienced managers

15
Obstacles to Implementation of IMC
  • Few communication providers have skills and
    services that encompass all forms of marketing
    communications including
  • rapid adoption of the Internet
  • highly segmented cable TV
  • alternative communication opportunities such as
    co-branding, event or cause related marketing
Write a Comment
User Comments (0)
About PowerShow.com