Principles of Marketing Lecture-32. Summary of Lecture-31.
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Transcript of Principles of Marketing Lecture-32. Summary of Lecture-31.
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Principles of Marketing
Lecture-32
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Summaryof
Lecture-31
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Place….Distribution Channel….Marketing Channel
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Right Product
Right Cost
Right Place
Right Condition
Right Time
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Compete on value (not just price.)
Save customers time and energy.
Make shopping fun.
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Today’s Topics
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Marketing Communications
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Simple Marketing Simple Marketing SystemSystem
Producer/Seller Consumer
Communication
Product/Service
Money
Feedback
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Promotion and Its Goals
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Builds Relationships
Persuades
Informs
Reminds
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RemindingReminding
InformingInforming PersuadingPersuading
BasicPromotionObjectives
BasicPromotionObjectives
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Why is it so Hard to Get A Consumer’s
Attention?
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Sensory overload (too many stimuli but limited info. processing ability)
Lack of consumer interest or motivation to process stimuli
Perceptual defense
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The Marketing Communications
Mix
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AdvertisingAdvertising
Personal SellingPersonal Selling
Any Paid Form of Non-personal Presentation by an Identified Sponsor.
Any Paid Form of Non-personal Presentation by an Identified Sponsor.
Sales Promotion Short-term Incentives to Encourage Sales.
Public RelationsBuilding Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity.
Direct Marketing Direct Communications With Individuals to Obtain an Immediate Response.
Personal Presentations by a Firm’s Sales Force.
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Integrated Marketing
Communications
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The concept under which a Company Carefully Integrates and Coordinates Its Many Communications Channels to Deliver a Clear, Consistent, and Compelling Message About the Organization and Its Products.
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AdvertisingAdvertising
Personal Selling
Personal Selling
Public RelationsPublic
Relations
Sales Promotion
Sales Promotion
DirectMarketing
DirectMarketing
PackagingPackaging
EventMarketing
EventMarketing
Message
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The Communication Process
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Source Encoding Message
ChannelDecodingReceiver
Feedback Noise
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Encoding The Message
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–Words–Sounds–Colors–Space–Themes–Symbols–Pictures–Numbers–Gestures–Movement
The Message
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–Words–Sounds–Colors–Space–Themes–Symbols–Pictures–Numbers–Gestures–Movement
Channel or Medium
DECODING
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OBJECTIVE
ENCODING = DECODING
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SourceSource EncodingEncoding MessageChannel
MessageChannel DecodingDecoding ReceiverReceiver
FeedbackFeedback
Noise
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Marketing Communications
Objectives
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Increase Market Penetration
Develop Repeat Purchase Behavior
Establish Customer Relationships
Increase Rate of Consumption
Encourage Product Trial
Stimulate Impulse Buying
Stimulate Demand
Differentiate the Product
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Establish a Product Image
Influence Sales Volume
Establish, Modify, or Reinforce Attitudes
Stimulate Interest
Establish Understanding
Build Support & Acceptance
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Steps in Developing Effective
Communication
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Step 1. Identifying the Target AudienceStep 1. Identifying the Target Audience
Step 2. Determining the Communication Objectives (Buyer Readiness Stages)
Step 2. Determining the Communication Objectives (Buyer Readiness Stages)
PurchasePurchase
Conviction
Preference
Liking
Knowledge
Awareness
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Step 3. Designing a MessageStep 3. Designing a Message
AttentionAttention InterestInterest DesireDesire
Message ContentRational Appeals
Emotional AppealsMoral Appeals Message Structure
Draw ConclusionsArgument TypeArgument Order
Message FormatHeadline, Copy, Color,
Words, & Sounds,Body Language
ActionAction
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Nonpersonal CommunicationChannels
Step 4. Choosing MediaStep 4. Choosing Media
Personal CommunicationChannels
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Step 5. Selecting the Message SourceStep 5. Selecting the Message Source
Step 6. Collecting FeedbackStep 6. Collecting Feedback
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Setting the Total Promotion Budget
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Percentage-of-SalesMethod
Affordable Method
Competitive-Parity
Method
Objective-and-TaskMethod
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AIDA ModelAttention
Interest
Desire
Action
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Promotion
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Marketing activities used to communicate positive, persuasive info about an organization, its products and its activities to a target audience
Purpose: to directly or indirectly create sales, influence consumers.
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Setting the Promotion Mix
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AdvertisingReaches Many Buyers, Expressive
Impersonal
AdvertisingReaches Many Buyers, Expressive
Impersonal
Personal SellingPersonal Interaction, Builds Relationships
Costly
Personal SellingPersonal Interaction, Builds Relationships
Costly
Sales PromotionProvides Strong Incentives to Buy
Short-Lived
Sales PromotionProvides Strong Incentives to Buy
Short-Lived
Public RelationsBelievable, Effective, EconomicalUnderused by Many Companies
Public RelationsBelievable, Effective, EconomicalUnderused by Many Companies
Direct MarketingNonpublic, Immediate, Customized,
Interactive
Direct MarketingNonpublic, Immediate, Customized,
Interactive
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AdvertisingA paid form of non-personal
communication about an organization and/or its
products to a target audience through a mass medium.
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Personal selling
The direct presentation of a product to a prospective
customer by a representative of the selling organization.
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Sales promotion
Demand-stimulating activity designed to supplement advertising and facilitate
personal selling.
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Public relationsA planned communication effort by an organization to contribute to generally favorable attitudes
and opinions toward an organization and its products.
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Direct Marketing
Direct connections with carefully targeted individual consumers
to obtain an immediate response and cultivate lasting
customer relationship
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Relative Importance of
Promotion Tools
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Consumer Goods
–Advertising
–Sales promotion
–Personal selling
–Publicity
Business Goods
–Personal selling
–Sales promotion
–Advertising
–Publicity
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Changing Face of Marketing
Communications
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Marketers Have ShiftedAway From Mass
MarketingLess Broadcasting
Marketers Have ShiftedAway From Mass
MarketingLess Broadcasting
New Marketing Communications RealitiesNew Marketing Communications Realities
Improvements in Information Technology
Has Led to Segmented MarketingMore Narrowcasting
Improvements in Information Technology
Has Led to Segmented MarketingMore Narrowcasting
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Enough for today. . .
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Summary
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Promotion and Its Goals
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Builds Relationships
Persuades
Informs
Reminds
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The Marketing Communications
Mix
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AdvertisingAdvertising
Personal SellingPersonal Selling
Any Paid Form of Non-personal Presentation by an Identified Sponsor.
Any Paid Form of Non-personal Presentation by an Identified Sponsor.
Sales Promotion Short-term Incentives to Encourage Sales.
Public RelationsBuilding Good Relations with Various Publics by Obtaining Favorable Unpaid Publicity.
Direct Marketing Direct Communications With Individuals to Obtain an Immediate Response.
Personal Presentations by a Firm’s Sales Force.
![Page 62: Principles of Marketing Lecture-32. Summary of Lecture-31.](https://reader035.fdocuments.us/reader035/viewer/2022062408/56649ec05503460f94bcbe60/html5/thumbnails/62.jpg)
The Communication Process
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SourceSource EncodingEncoding MessageChannel
MessageChannel DecodingDecoding ReceiverReceiver
FeedbackFeedback
Noise
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Steps in Developing Effective
Communication
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AIDA ModelAttention
Interest
Desire
Action
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Next….
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Advertising
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Principles of Marketing
Lecture-32