marketing communication mix
TRANSCRIPT
MARKETING COMMUNICATI
ON MIX
CONTENTSMARKETING COMMUNICATION.MARKETING MIX.MARKETING COMMUNICATION PROCESS.CONCEPT OF MARKETING
COMMUNICATION MIXGOAL OF MARKETING COMMUNICATION
MIX.DIFFERENT FORMS OF
COMMUNICATION.DEVELOPING & DESIGNING MARKETING
STRATEGY.CONCLUSION.
MARKETING COMMUNICATIO
N Marketing communications is a
subset of the overall subject area known as marketing.
The word communication comes from the Latin word communis, meaning common. When we communicate we try to establish a 'commonness' with someone, that is we try to share information, an idea or an attitude.
GOALS OF AN ORGANISTATION
MARKETING MIX
• Marketing has a marketing mix that is made of price, place, promotion, product (known as the four P's), that includes people, processes and physical evidence, when marketing services (known as the seven P's) for customer satisfaction at a Company’s profit.
PRODUCT
• CUSTOMER SOLUTION
PLACE
• CONVENIENCE
PRICE
• COST
PROMOTION
• COMMUNICATION
WHAT IS INTEGRATED MARKETING
COMMUNICATION MIX? Marketing
communications is ‘Promotion' from the marketing mix, Also termed as “Integrated Marketing”.
The practice of blending different elements of the marketing communication mix in mutually reinforcing ways.
Overall Marketing Objectives
Overall Marketing Objectives
Marketing Mix• Product• Place
• Promotion• Price
Marketing Mix• Product• Place
• Promotion• Price
Target MarketTarget Market
Promotional Mix
• Advertising• Public Relations• Sales Promotion• Personal Selling• Direct marketing• Personal selling• Word-of-mouth• Exhibitions
• Promotion Plan
Promotional Mix
• Advertising• Public Relations• Sales Promotion• Personal Selling• Direct marketing• Personal selling• Word-of-mouth• Exhibitions
• Promotion Plan
INTEGRATED MARKETING
COMMUNICATION(IMC)
It includes medium of communicating with your target audience. The marketing communication mix is the heart of the marketing strategy, If business consists of creating value and creating customers.
Improves the company’s ability to reach the right consumer at the right place at the right time with the right message.
what has to be communicated? How a marketer communicates?
INTEGRATED MARKETING COMMUNICATION MIX
• Determine how buyers purchase a particular offering.
• Induce initial purchase• Build selective demand • Create post purchase satisfaction
GOALUnawareness (Increase awareness)
Knowledge(Inform about the product or service)
Create Liking and Preference by building Company Image
Induce Purchase Decision
INTEGRATED MARKETING COMMUNICATION
Informs, persuades and reminds Is part of the marketing mix
(PROMOTION MIX) Includes all the means by which
a company communicates directly with potential customers.
Attempts to influence feelings, beliefs, or behaviour. an opinion or obtain a response.
MARKETING COMMUNICATION :
PURPOSECommunication is necessary to inform
buyers of the following: The availability of an offering The unique benefits of the offering The where and how of obtaining
and using the offering Not only informs, but is also used to
differentiate the seller’s products/services.
Promotional management in terms of strategy development, implementation, and evaluation.
This brings about synergy and better use of communication funds
HOW DOES IT WORK?
• Influence• The
• Influencer
• Product• Innovation
• Brand• Ambassadors
• Referral• Programmes
• Listen to• Feedback
• Measure
Constant ImprovementShared Passion, Vision &
Organization CultureCustomer FocusSpeedExecutionImprovements In Basic
OperationsCommunity Involvement
MARKETING COMMUNICATION
PROCESS
• ADVERTISER• MARKETER
SENDER
• ADVERTISEMENT• ADS
MESSAGE
• FAVOURABLE RESPONSE
RESPONSE
The process by which we exchange or share meanings through a common set of symbols.
The company carefully integrates and coordinates its many communications channels to deliver a clear message.
FACTORS FOR MARKETING
COMMUNICATION MIX
MARKETING
COMMUNICATION
SELECTION
FACTORS
MARKETING
COMMUNICATION
SELECTION
FACTORS
Consumers v/s Business Market
Product Cycle Target market Readiness to buy,
knowledge, liking, preference,
conviction (belief)
FACTORS RESPONSIBLE FOR PROMOTIONAL MIX
PUSH AND PULL STRATEGY
Identifying Target Audience Determining Communications Objectives
– Buyer Readiness Stages Designing Message
– Message Content– Message Structure– Message Format
Media Selection– personal and – non personal communications channels
Message Source Feedback Collection
DEVELOPING EFFECTIVE COMMUNICATION
FOR:
Widely scattered market
Informed buyers
Repeat buyers
AIDA CONCEPT Model that outlines the process for achieving promotional
goals in terms of stages of consumer involvement with the message.
AIDA is a classic marketing/advertising approach, fundamental to all persuasive success.
Cognitive (thinking)
Affective (feeling)
Conative (doing)
LIGHT OF AIDA4 FUNCTIONS OF SOCIAL
MEDIACUSTOMER SERVICE
• Monitor, Reply- Retain Customer
REPEAT BUSINESS
• Offers, Up selling, Cross selling
PR/BRAND MANAGEMENT
• Maintain AID
NEW BUSINESS
• Complete AIDA with purchase
INCENTIVES: HOW TO GET THE PEOPLE TO DO
STUFF?KEY TO DESIR AND ACTION(AIDA)
ATTENTION FAN/FRIEND ENGAGED PURCHASE
COMPETITIVE ADVANTAGE
• Unique features• Unique features
• Excellent service• Excellent service
• Low prices• Low prices
• Rapid delivery• Rapid delivery
• High product quality• High product quality
CATEGORIES OF COMMUNICATION
INTERPERSONAL
COMMUNICATION
MASS COMMUNICATI
ON
DIFFERENT FORMS OF
MARKETING MIX
PRODUCT PLACE PRICE PROMOTIONADVERTISEMENT SALES PROMOTION
PERSONAL SELLING
PUBLICITY
PUBLIC RELATIONSDIRECT MARKETING/ EMARKETING
SPONSORSHIP MERCHANDISING
Publicity & Public Relations
• Press Conference• Special Events• Sponsorship
SBI
Personal Communication
• Customer service• Training• Word of Mouth
Advertisement
• Broadcast • Print • Internet• Outdoor• Direct mail
Sales Promotion
• Prize Promotion
Instructional Material
• Website• Manual
Corporate Design
• Interior decor• Stationery
ADVERTISING Impersonal, one-way mass communication about a
product or organization that is paid for, by a marketer. Can reach a mass audience Introduces products, Increasing Brand Recognition Builds brand image; may stimulate short-term sales
ADVERTISING MEDIA
TRADITIONAL ADVERTISING MEDIA•Television•Radio•Newspapers•Magazines•Books•Direct mail•Posters
NEW ADVERTISING MEDIA
•Internet Marketing•Electronic mail•Interactive video•Through Mobile Devices
MEDIAS OF ADVERTISING
ADVERTISING
ADVANTAGES
• Reach large number of people
• Low cost per contact• Can be micro-targeted
DISADVANTAGES
• Overall cost is high.• One-way Communication.• National reach is expensive for small
companies
Trade Customers
SALES PROMOTION Refers to purchase incentives that
Company provide customer with. Ways in which to create
additional value for customers. Number of forms including
offering : Free goods or services, Coupons and vouchers, Gifts and prizes, discounts, Samples, financial incentives, Buy-One-Get-One-Free Joint promotions between
brands owned by a company
Free samples
Contests
Premiums
Trade Shows
Vacation Giveaways
Coupons
Con-sumer SalesPro-
motion
End Customers
Company Employees
SALES PROMOTION
ADVANTAGES
•Price Discrimination•Effect on Consumer Behavior•Effect on Trade Behavior•Regional Differences
DISADVANTAGES
•Increased Price Sensitivity.•Expensive when not handled properly.•Effect on Quality Image•Merchandising Support from Dealer is doubtful•Short-term Orientation
PERSONAL SELLING
Person-to-Person communication. Process of communicating with a
potential buyer (or buyers) face-to-face with the purpose of selling a product or service.
The salesperson conducts business with the customer in person.
E.g. : Sales presentation, Sales meetings, Incentive program, Samples, Fairs & trade shows.
PERSONAL SELLING
PERSONAL SELLING
ADVANTAGES
•Two-way communication•Target the message specifically•Receive immediate feedback.•Minimum distraction/ clutter•Involvement throughout decision making process•Research Tool
DISADVANTAGES
•Message Inconsistency•Conflict between sales force and Management•High cost•Poor Reach•Ethical Concerns.
PUBLICITY Public information about a company, good,
or service appearing in the mass media as a news item, which is free to the company.
Building good relations with various publics.
Communication mode is indirect and non-personal
Appeal to large public. Different from Advertising as Advertising
buys its way into the media. Publicity is presented as it is “Newsworthy”.
PUBLICITY
ADVANTAGES
•Catches people attention off guard.•Communication to large audience at a time•More Credible than advertising.
DISADVANTAGES
•Impersonal•May not inform the other side of the product that customer wants•Has less control over the message content.•Now-a-days, Cost is involved in Publicity
PUBLIC RELATIONS
The marketing function thatevaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance.
Communication mode is usually indirect and non-personal.
Reaching Large audience is very fast. E.g. : Press kits, Speeches, Seminars,
Annual reports, Charitable donations, Sponsorship, Publications Community relations, Company magazine, Events.
MEDIA
EMPLOYEES
GOVERNMENT
SHAREHOLDERS
COMPETITORS
SUPPLIERS
GENERAL PUBLIC
CUSTOMERS
PUBLIC RELATIONS
PUBLIC RELATIONS
PUBLIC RELATIONS
ADVANTAGES
• Building Credibility.• Holds down promotion Cost• Lead Generation• Ability to reach specific groups• Image building.• Building Awareness• Maintain a positive image• Educate the public about the company’s objectives
DISADVANTAGES
• Potential for not completing Communication Process.• No or Very little Feedback• Conflicts with Marketing Department• Lack of Co-ordination
DIRECT SELLING Enables companies to reach out directly
to consumers without intermediary channels such as those required for advertising.
It includes : Direct mail, catalogs, coupons and inserts, telemarketing, online marketing and television infomercials.
Extremely effective in the long run. Allows for a targeted marketing
approach to specific consumers to create valuable lasting relationships.
Customized, interactive, immediate. E.g. : Catalogs, Mailings, Tele marketing,
Electronic marketing, Shopping, TV shopping.
DIRECT SELLING
ADVANTAGES
•Potential to earn unlimited amount of money.•Initial Cost is fairly cheap•Opportunities to meet new people.•Email potential customers can create a marketing list easily.•Can receive Customer Views.
DISADVANTAGES
•Time consuming Process•Highly Competitive•Hard to find right product that is legitimate online•Hard time to convince people which are expensive than the one available in the market.
WORD OF MOUTH COMMUNICATION An unpaid form of promotion in
which satisfied customers tell other people how much they like a business, product or service.
Word-of-mouth is triggered when a customer experiences something far beyond what was expected.
WORD-OF-MOUTH
ADVANTAGES
• Customers are in control• Great user’s experience.• Web creates permanent Records.• Happy customers refer others and business grows.• Builds long-term customer relationship.
DISADVANTAGES
• Time consuming Process.• Negative word-of-mouth once spread brings customer
dissatisfaction and business does not grow.• Hard core selling to benefit from increased commission is
widely responsible for many potential buyers being put off.
MORE FORMS OF MARKETING
COMMUNICATIONMIX
Following are few more Marketing Communication Mix:
1.Branding(Image and Reputation)2.Merchandising(Point-of-sale)3.Trade Fairs4.Exhibitions.5. Sponsorship
REVIEW OF THE THESE ELEMENTS
MARKETING STRATEGY
Cost Leadership is a competitive Strategy In which a firm succeeds in producing products Or services at the lowest costs in the industry
MARKETING STRATEGY
Differentiation is a competitive strategy in which a firm succeeds by developing and maintaining a unique value for the product as perceived by consumers
ARE BANKS TRULY MARKETING-SAVVY
AND CUSTOMER - CENTRIC?
Better technology leads to
better customer service.
Technology alone does not helps people do.
The larger the range of products,
the more customer-centric
we are.
The range of products has emerged from being competition-centric
Customers need to be educated too…
Launch a product and the customer
will start using instantly.Give a customer a card and he
will learn how to playwith it immediately..
Just advertise and –You will sell.
Advertising will only sell,
Not retain customers.
No difference between
marketing & selling“Selling focuses
on the needs of the seller; marketing on the needs of the buyer”
CONCLUSION
Marketing mix analysis is a fundamental step towards effective strategy. Where other analysis are more related to environment and feasibility analysis, the 4 Ps of marketing including the product itself, pricing, placement and promotion are the four wheels of the vehicle on which the path of an organization's marketing success is actually dependent.
ANY QUESTIONS?????