what is communication mix , and how should it be set
TRANSCRIPT
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What is communication mix , and how should it be set ?
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COMMUNICATION MIX
Companies must allocate the budget
over these 7 modes of
communication
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1.AdvertisingReaches geographically dispersed buyers !
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“Dramatising the brand attracts attention.
.
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“ The advertiser can
choose the aspects of the brand and
products to focus
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“ Providing discounts to
trigger quick sales.
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“ Compare the messages of
various competitors
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2.Sales Promotion Incorporating concessions,inducements,or contributions that give value to the customer to draw quick,stronger buyer response !
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3.Public Relations , PublicityHighly credible than ads !
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Ways to strengthen Public Relations and improve Publicity
◎ Via charitable donations
◎ Impress people by telling the story behind your company
◎ Via interactive seminars
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4 .Events and relationsGenerate significant impact !
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“Given their live, real-time
quality,events and experiences are more actively engaging for the
customers
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5.Direct & Interactive marketingDirectly communicate with solicit response/dialogue to customers an prospects quickly
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6.Word to Mouth MarketingPeople trust others whom they know and respect
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“Word to Mouth marketing is the
main reason behind 20% - 50% of all purchasing decisions
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7.
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Factors in setting MarCom MixCommunications mix allocations vary between consumer and business markets
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Consumer MarketersTend to spend comparatively more on sales promotion,advertising
Type of Market
Business MarketersTend to spend more on personal selling
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Vary in cost effectiveness
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Thank you !
Hope you have learnt something out of this :)
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Credits
Special thanks to all the people who made and released these awesome resources for free:◎ Presentation template by SlidesCarnival◎ Photographs by Unsplash & Death to the Stock Photo (
license)◎ Google Images
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Presentation design
◎ Created by : Harika Ganta , IIITD&M Kancheepuram◎ During an internship under :
Prof. Sameer Mathur , IIM Lucknow
www.IIMInternship.com