How do we communicate? Verbal messages “Hey Steve, let’s grab a pizza.” Non verbal messages Expressions Symbols
Marketing Communication Purposes Inform “Fifteen minutes could save you fifteen percent or more” Remind “Don’t leave home without it” Persuade “Just do it” Build relationships “You’re in good hands”
Communication Model Source Individual Company Message Advertisement PR Communication from others Medium Magazines Television Radio Word of Mouth Receiver Consumer Noise Competing messages Distracters Feedback Brand loyalty Product awareness encoding decoding
How do marketers communicate with consumers? Promotion mix Mass appeal Advertising Sales promotion Public relations Personal appeal Personal selling Direct marketing
Integrated Marketing Communication Developed marketing plans designed to create lasting relationships with consumers Customer centric Why is it more important today than ever?
Developing the IMC Step 1: Identify the target audiences Step 2: Establish the Communication Objectives Step 3: Determine and allocate the marketing communication budget Determine the total promotion budget Decide on a push or pull strategy Allocate the budget to a specific promotion mix Step 4: Design the promotion mix Step 5: Evaluate the effectiveness of the communication program
Develop an Integrative Marketing Communication Plan Your team has developed the product featured on the following slide Create a IMC plan to successfully market the product Allocate the budget to the different promotion mix mediums based on percentage of budget