Launch your PollEV session: Text : UWMBUSINESS to 37607

1. Launch your PollEV session: Text: UWMBUSINESS to 37607 *Text LEAVE at the end of class* Alternate #: (747) 444-3548

2. Wednesday • No lecture • I will be in my office

3. Final Exam: To do or not to do?? • YOUR decision • You can ESTIMATE and make a wise decision

7. The Fourth ‘P’: Integrated Marketing Communications (“IMC”) Ref: Text, chapter 18 (and chapter 19)

9. “Promotion*” = Communication** *in Marketing **Persuasive

10. “15 minutes….”

11. Successful IMC?? • High brand recognition • Has become the 2nd largest insurer in the US • Acquired more new customers than any other insurance company • Annual growth rate of 10%+

12. The communication process(general model)

13. The Communication Process“General model” • The Sender: the message originates from the sender • The Transmitter: the sender works with the creative department or ad agency (the transmitter) to develop marketing communications • Encoding: converting the sender’s ideas into a message ( verbal, visual, or both). The most important asset of encoding is not what is sent but rather what is received • The Communication Channel: the medium – print, broadcast, the Internet – that carries the message. The media chosen must be appropriate to connect the sender with its desired recipient

14. The Communication Process • The Receiver: the person who reads, hears, or sees and processes the information contained in the message. Decoding refers to the process by which the receiver interprets the sender’s message • Noise: any interference that stems from competing messages, a lack of clarity in the message, or a flaw in the medium; a problem for all communication channels. If there is a difference between encoding (what the sender intends to say) and decoding (what the receiver hears), it is probably due to noise • Feedback Loop: allows the receiver to communicate with the sender and thereby informs the sender whether the message was received and decoded properly. Can take many forms ( increase in sales, store traffic, complaint, compliment, redemption of a coupon or rebate)

15. The communication process

20. The AIDA model • How marketing communications work. • Move consumers stepwise through a series of mental stages. The AIDA model explains these: • Awareness  Interest  Desire  Action. ( think, feel, do)

21. The AIDA Model Sustained advertising

22. Awareness • “Brand awareness” refers to a potential customer’s ability to recognize or recall that the brand name is a particular type of retailer or product • Awareness metrics: aided recall, top-of-mind awareness • High top-of-mind awareness means that a product probably will be carefully considered when customers decide to shop for it

23. FLO??

25. Awareness • “Brand awareness” refers to a potential customer’s ability to recognize or recall that the brand name is a particular type of retailer or product • Awareness metrics: aided recall, top-of-mind awareness • High top-of-mind awareness means that a product probably will be carefully considered when customers decide to shop for it

26. Attribute Sets U-R-E

27. Interest, Desire, Action • Interest: Once consumers are aware, communication must work to increase interest level; they must be persuaded that it is a product worth investigating • Desire: after the firm has piqued the interest of its target market, the goal of subsequent IMC messages should move the consumer from “I like it” to “I want it.” • Action: the ultimate goal of any marketing communication is to drive the receiver to action. Consumers act on the interest generated by either searching for the product or making a purchase.

28. “15 minutes….”

29. The AIDA Model Sustained advertising

31. Coupons or Sales/discounts?

33. Interest, Desire, Action • The Lagged Effect: sometimes consumers don’t act immediately after receiving a marketing communication because of this effect. It is a delayed response to a marketing communication campaign. • Several exposures to an ad are needed before a consumer fully processes its message • Measuring the effect of a current campaign becomes difficult

34. The Fourth ‘P’: Advertising, PR, and Sales Promotions Ref: Text, chapter 19

35. In this topic, we will: • Describe the steps in designing and executing an ad campaign • Identify 3 objectives of advertising • Describe the different ways that advertisers appeal to consumers • Identify the various types of media • Identify agencies that regulate advertising • Describe the elements of a PR toolkit • Identify the various types of sales promotions

36. Advertising • Advertising: a paid form of communication, delivered through media, from an identifiable source, designed to persuade the receiver to take some action, now or in the future • Represents an enormous industry ($570B worldwide). Present everywhere!

37. Advertising • Advertising is not free • Must be carried by some medium • It is persuasive in its intent – it desires that the receiver take some action • Legally, the source of the message must be known The SENDER/ ADVERTISER

38. 4th P(Promotion) communicating Value: Mediated, ftf “PRODUCT” (Value) M E D I A Seller Buyer VALUE

40. Advertising, since it’s paid for, and persuasive in its intent, has to be clearly identified. So that readers/ viewers can discern between information intended to inform/entertain them, and information intended to persuade them

42. Steps in planning and executing an Ad Campaign Convey the message

43. Step 1: Identify target audience • The success of an ad program depends on how well the advertiser can identify its target audience. • Research, set tone, pick media • Note that the audience may not be the same as the target market

45. Step 2: Set advertising objectives • All ad campaigns aim to achieve certain broad objectives: to inform, persuade, and remind consumers, so you can have informative, persuasive, or reminder advertising General Objectives Specific

46. Product Life Cycle

47. Informative ad example

48. Persuasive ad example

49. Reminder ad example