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How to communicate your product Part I

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Presentation on theme: "How to communicate your product Part I"— Presentation transcript:

1 How to communicate your product Part I

2 Current Terminology IBP: Integrated Brand Promotion
IMC: Integrated Marketing Communications Often used interchangeably Here we use IMC

3 What does IMC mean? Coordination of all promotional messages
Telling the same story every time Consistency and synergy Maintain positioning Essential for branding

4 Categories of Communication
Interpersonal Mass

5 The Communication Process

6 The Communication Process

7 What does Encoding mean?

8 The AIDA Model

9 Objectives of IMC PLC Stages: Informing Reminding Persuading Target
Audience PLC Stages: Introduction Early Growth Growth Maturity

10 Inform Increase awareness How product works New uses Company Image

11 Informative Ad

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13 Persuade Encourage brand switching Change customer’s perceptions
Influence immediate buying decision Persuade customers to call

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16 Remind Product is still needed Where it is sold
Maintain brand awareness

17 The Lagged Effect Consumers don’t act immediately
Advertising effect can build over time Be top of mind at time of need Several exposures

18 The Promotional Mix Advertising Public Relations Sales Promotions
Personal Selling Direct Marketing Digital Marketing Online Marketing Social Media Mobile Marketing

19 AIDA & the Promo Mix Attention Interest Desire Action Advertising
Public Relations Sales Promotion Personal Selling Social Media Very Effective Somewhat Effective Not Effective

20 How to choose promotional mix?
Nature of the product Stage in PLC Target market characteristics Type of buying decision Promotion funds Push or pull strategy

21 Product Life Cycle and Promo Mix
Light Advertising; Pre-introduction publicity Heavy Advertising; PR for awareness; sales promotion for trial Advertising, PR, brand loyalty; personal selling for distribution Ads decrease; sales promotion; personal selling; reminder & persuasive AD/PR decrease; limited sales promotion; personal selling for distribution

22 Buying Decision & Promo Mix
Advertising Sales Promotion Routine Personal Selling Neither Routine nor Complex Public Relations Print Advertising Complex

23 Push vs. Pull Strategy

24 Advertising Most visible IMC element Effective to build awareness Paid
Mass Audience

25 Digital Marketing Traditional Online Ads Websites Blogs Social Media
#SocialTV SEM SEO Mobile/SoLoMo

26 Digital Trends Social Shopping SocialTV Social Media Mobile
FB Want Button SocialTV Social Media Twitter Pinterest Mobile Location Based

27 Establishing a Budget Method Definition Limitations Competitive Parity
Budget = Market Share Does not stimulate growth No adjustments Percentage of sales Budget = %(past sales) Budget = %(future sales) Doesn’t consider new plans Ties to sales Available Budget Budget = Leftover Assumes no connection to sales or profit Objective & Task Budget = cost of achieving objectives Requires accurate estimation Lengthy

28 Marketing Metrics = Success or Failure
Traditional Media Frequency of exposure Reach of exposure GRP (reach x frequency) House holds watching the tv program % Web-Based Media SEM Impressions CTR ROI = (sales revenue – advertising cost)/Advertising Cost

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