MKT Ch.18

Awareness/Attention

Senders first must gain the attention A multichannel approach increases the likelihood the message will be received.

The basic goal of integrated marketing communications is to

communicate the value proposition to the target market

Web tracking software

indicates how much time viewers spend on particular web pages and the number of pages they view

Impressions

the number of times the ad appears in front of the user

Online referring

when consumers fill out an interest or order form and are referred to an online dealer or firm that offers the product or service of interest

Click-through rate (CTR)

# of times a user clicks an ad ////////// # of impressions

Elements of an Integrated Marketing Communication Strategy (IMC strategy)

-Advertising -Public Relations -Sales Promotions -Personal Selling -Direct Marketing -Online Marketing

What are the steps in the Communication Process?

1.Sender 2.Transmitter encodes message 3.Communications chanel (media) 4.Receiver

Interest

After awareness comes persuasion The customer must want to further investigate the product/service

A.I.D.A. Model What does it stand for?

Awareness Interest Desire Action

How do you calculate GRP?

GRP = reach x frequency

Action

Purchase is just one type of action

Lagged Effect

A delayed response to a marketing communications campaign Takes several exposures to an ad before a consumer fully processes the message

Desire

I like it I want it

Rule-of-thumb methods

Use prior sales and communication activities to determine the present communication budget Competitive Parity- the communication budget is set so that the firm's share of communication expenses equals its share of the market Percentage-of-sales: the communication budget is a fixed percentage of forecasted sales Available budget: Marketers forecast their sales and expenses, excluding communication, during the budgeting period. The difference between the forecast sales and expenses plus desired profit is reserved for the communication budget. That is, the communication budget is the money available after operating costs and profits have been budgeted.

Online couponing

a promotional web technique in which consumers print a coupon directly from a site and then redeem the coupon in a store

Objective-and-task methods

determine the budget required to undertake specific tasks to accomplish communication objectives 1st- establish a set of communication objectives 2nd- determine which meadi best reach the target market and how much it will cost to run the number and types of communications necessary to achieve the objectives

How do you find Return on investment (ROI)?

difference of the sales revenue and the advertising cost divided by the advertising cost