Integrated Advertising Promotion and Marketing Communications (3rd Edition)

All posts tagged Integrated Advertising Promotion and Marketing Communications (3rd Edition)

Brand Marketing Promotion Campaigns

Published October 23, 2013 by Mayrbear's Lair

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Brand Marketing promotions are considered one of the most valid tools for a company in the modern world, especially during times of hardship. Diamond (2011) suggests that retailers in today’s society face challenges they never experienced before. The impact from ventures like catalog only merchants and internet commerce have had a significant impact on a retailer’s ability to maintain successful sales levels. Because of this component, merchants are doing everything in their power to manage these challenges. One way to manage them is to offer exceptional services and develop creative advertising and promotional events that will gain the attention of not only existing clientele, but attract new ones as well (Diamond, 2011). Brand marketing promotions are utilized as a strategic tool to encourage purchasing and help reinforce a company’s conviction in trade development. In economies that fluctuate due to oil prices, unstable manufacturer supplies, and currency fluctuations, trade promotion strategies have become challenging to design, implement and assess. For example, a company that sells auto tires will develop a promotion that offers a free tire with the purchase of three new ones as an incentive to help consumers save money on a significant purchase in tough economic times. This gives them a good guy image and sends a message that they care about struggling consumers. However, before marketers can consider designing trade brand promotion programs, they must first define the parameters to help them determine the most efficient delivery systems.

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The biggest advantage of brand promotions is that they increase customer attraction. Borgeon and Cellich (2012) explain that the strategic goals of trade promotions should: (a) build brand awareness, (b) focus on needs versus demand, (c) reach the target audience, and (d) include a competitiveness response. Today’s trade is characterized by the continual escalation of competition among producer and suppliers, rapid innovation in products, short design and product life cycles, aggressive pricing, and knowledge base competition (Borgeon & Cellich, 2012). As a result of these trends, new approaches are continually developed to serve consumer needs that incorporate a capacity for competitiveness as part of a company’s promotional strategy. For example, a company that wants to sell a new product based on a consumer’s need to include healthier food choices, may set up an in-store promotion that gives out free samples to entice consumers to try them.

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Companies develop many different kinds of trade promotions to entice consumers to try their products. Baack and Clow (2012) purport, companies that design their campaigns with promotional incentives will generate interest and excitement that will stimulate more traffic for their company. These tactics include the use of: (a) coupons, (b) refunds and rebates, (c) contests, (d) sweepstakes, and (e) premiums (Baack & Clow, 2012). The biggest mistakes marketers make is not conducting the research required to create an effective campaign. For example, if a marketer fails to identify their target audience, they stand to lose thousands of dollars in promotional material that was intended to attract a specific consumer because it never reached the intended audience. Advertisers that do not promote their events to the right audience could also face embarrassment and bad publicity from sponsoring contests that no one shows up to. Companies who make the effort to conduct extensive research and implement measurable data collection systems, have a better chance of seeing a return on their investment and are more likely to create memorable trade promotion events that can have a positive long lasting effect on consumers as well as bring success to companies, even during hard economic times.

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References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Borgeon, M., & Cellich, C. (2012). Trade promotion strategies best practices. New York, NY: Business Expert Press, LLC.

Diamond, J. (2011). Retail advertising and promotion. Ridge, NY: Fairchild Books.

Media Buying

Published October 16, 2013 by Mayrbear's Lair

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Advertisers face many significant changes with how the media operates in today’s global market. Katz (2007) postulates that there are three major critical changes in how media executives plan, buy, and sell advertising. These can be referred to as the three C’s: consolidation, consumer control (technology enabled) and communication accountability (Katz, 2007). For instance, anyone that stays on top of business news can acknowledge that the media seems to find countless ways to consolidate their time and energy. Media domination is driven by demands for high profits resulting in more companies purchasing their competitors to create something even bigger and hopefully better. In addition, media planning has conformed into communications planning as it expands mediums to include everything from the internet, to sports arenas, to elevators, to TV screens in public places like at Madison Square Garden, as well as event sponsorship and promotions. In other words, today’s media buyers and sellers have a lot to consider when making the most effective advertising decisions that will reach their target audience and yield a return on the company’s investment.

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Most studies agree that any communication to reach consumers is immediate exposure that offers some kind of value. Geskey (2013) suggests it is the job of the media team to think of all the many ways marketing can reach the right prospect that will create a memorable interaction to yield measurable returns. In addition, they also realize that the sole purpose of media sellers is to sell them time or space at the highest possible price. So marketers must learn about their industry and the company’s advertising needs to develop proposals that fall within their budgets and are supported by volumes of statistics and analyses to help them decide on the most effective and objective path that will satisfy their advertising strategies (Geskey, 2013). Furthermore, in today’s competitive market, the stakes are much higher because of the financial significance in allocating funds wisely. Big companies like General Motors or Kellogg’s, for example, stand to lose millions of dollars in lost revenue if ads are not developed and placed effectively to convey their messages to reach the relevant audience.

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An advertiser’s objective is to reach their audience to invoke emotions that cause them to take action. To help marketers achieve their goals, deliver their message effectively, and yield the highest returns, they develop advertising campaigns that incorporate three significant rules to their strategies: (1) extensive media planning, (2) the use of effective media frequency and reach concepts, and (3) efficient selection approaches to help them determine the cost effective medium to deliver their advertising campaigns. Baack and Clow (2012) explain that media planning serves to help marketers formulate a program to effectively integrate their message across a wide range of media channels. This first step is the process of data collection and assimilation of that information that helps them identify and locate a target audience and develop a plan to deliver their message as well as help them decide when, where, and how often they place their ads. After creating and delivering a powerful message, the next step is to decide on the frequency their message is transmitted to assist with product recognition and building a brand name. Each marketer must decide where to place the ad in addition to determining the amount of times it takes before they achieve the desired outcome which causes consumers to act. The third step helps marketers determine the most effective form of medium (electronic or print) to transmit their messages to make sure they reach their relevant audience (Baack & Clow, 2012). For example, marketers will incorporate media plans to gather data and assess the information to determine their audience. Then, they decide on the most effective means to communicate their message to their target audience. Advertisers for a hair product, for instance, must consider whether they are more likely to reach a customer waiting in the reception area at a beauty salon or reach them more effectively by a TV commercial, magazine, newspaper ad, or use of these outlets. By developing a strategic plan marketers can locate their audience and create campaigns based on the best media available to them that fall within their budgets to reach intended consumers. Marketers who develop and incorporate strategies to include media planning, media reach, and media selection in the development of their campaigns, will increase their chances of achieving higher returns on their advertising investments.

References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Geskey, R. (2013). Media planning and buying in the 21st century (Second ed.). Washington, DC: CreateSpace Independent Publishing.

Katz, H. (2007). The media handbook: A complete guide to advertising, media selection, planning, research, and 

Attitudes and Values

Published October 2, 2013 by Mayrbear's Lair

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To market a product or a company effectively, management teams must have a concept of how to promote and position themselves to stand apart from the competition. Morgan (2012) postulates that the number one asset any organization or individual has is their unique personality and their attitude. This is what makes them stand apart from the others. A successful image of a company, therefore, can increase the value of that business dramatically. When it comes to creating a corporate image or creating an organizational attitude, perception is one of the most significant components to consider. For instance, one way a company can create an attitude is by conveying that their brand is not merely a campaign that makes promises, but that their actions and behavior convey a commitment to keep those promises (Morgan, 2012). Business leaders that comprehend this concept are ahead of the game when it comes to creating value. In short, their attitude can also bring them added value.

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Leaders that distinguish the difference between attitude and values are more likely to develop a brand that will experience long lasting success as well as build solid relationships and a loyal customer following. Baack and Clow (2012) explain that attitudes also reflect individual values and that these perceived values and attitudes are key roles that influence consumer decisions. For example, typically, educated consumers incorporate two strategies in the decision making process that can influence their feeling or attitude: (a) the gathering of information and (b) the evaluation of alternate choices. Motivation also plays a role in swaying their attitude in the decision making process. This element determines the amount of enthusiasm they engage to support their needs and wants. Additionally, lower costs and higher benefits are factors that can influence consumer emotions and attitudes. These are a few components that help shape consumer feelings toward making decisions and remaining loyal (Baack & Clow, 2012). This means it is in the company’s best interest to develop strategies that provide consumers with substantial information about their products and services as well as a reason why they offer the best choices over any alternatives. These are factors that can help communicate a positive company image to consumers. This in turn affects their attitude and ultimately makes the company more valuable to them.

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There are many ways a company can create an image or present a company attitude that brings value to consumers. Vincent (2012) suggests that to achieve the most effective results to help shape a positive attitude, marketing strategists should address the following questions:

  • How indispensable is the brand to customers?
  • What is the rate of employee turnover?
  • What does the brand do that is better than any competitor and why is it significant?
  • How easy is it for competitors to replicate the brand experience?
  • How easy is it for customers to do business with the brand?
  • If the brand disappeared tomorrow would anyone care?

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By addressing these topics leaders can help create an experience that will shape a positive feeling or attitude in their consumers which in turn builds trust and confidence (Vincent, 2012). The Starbucks Corporation provides a good example of how a company’s attitude can influence their value. Prior to Starbucks’ genesis, people were used to paying under a dollar for coffee and expected free refills. Starbucks marketing strategists created an atmosphere that made people excited about paying more for coffee because of the feeling or experience the brand created. In other words, they built the success of their company on an attitude that communicated it was cool and hip to pay extra money for coffee to have a social front porch experience in an environment that allows internet access. This brilliant strategic move was the key that turned the Starbucks company into a mega empire. In conclusion, marketing teams that understand the distinction between attitude and value are more likely to experience long lasting success.

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References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Morgan, J. (2012). Brand against the machine: How to build your brand, cut through the marketing noise, and stand out from the competition. Hoboken, NJ: John Wiley & Sons, Inc.

Vincent, L. (2012). Brand real: How smart companies live their brand promise and inspire fierce customer loyalty. New York, NY: AMACOM.

Image

Published September 30, 2013 by Mayrbear's Lair

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The next six weeks of my organizational management research work will cover topics on marketing, advertising, and public relations. This first post is focused on image.

Leaders in today’s society face a global marketplace that is noisy, overcrowded, and massively competitive. In spite of all the chaos however, leaders can still create a unique image or brand and because of the internet and advances in technology, they can build real relationships directly with their audience. For example, consumers are constantly bombarded with thousands of messages that push a company’s image regardless of whether a person is interested or not. Interrupting people repeatedly with marketing messages is a new way employers conduct business. Many consumers typically face these messages every time they check in to social media networks, so the image a company represents is important. Morgan (2012) explains that the relationship a company has with their shareholders is critical to the success of their image, or brand. Furthermore, he suggests that because of these technological breakthroughs, the future of a company’s branding, is headed towards new marketing strategies that are designed with people and not at them (Morgan, 2012). In short, in order to stand out in today’s busy marketplace, companies must discover innovative methods to present their image in a way that engages their audience and win their business by giving more and selling less.

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A company’s goal is to position themselves (and their brand) in the mind of the consumer as one of, if not the top authority in their industry. To achieve this, they must know how to promote themselves and present an image that is different from that of their competition as well as deliver what they promise. Morgan (2012) states, that the image they present should provide an emotional connection to their audience. In other words, a company’s image is not about market share, it is about mind-share (Morgan, 2012). In addition, an effective company image or brand identifies the following components: (a) who they are; (b) what they do; and (c) who they do if for.

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Many employers face challenges running their business and believe they can solve most of them by developing a stylish new image that includes the development of a new logo and cleaning up their website. However creating an effective company image requires a great deal of planning and effort rather than merely engaging in this simple form of stagecraft. Vincent (2012) suggests that part of creating a successful company image also includes making and keeping promises that deliver simple, yet powerful experiences. A company’s image should represent many of these significant elements, regardless of whether it is developed for a small business, a large corporation, or personal brand, like Oprah, Dr. Oz, or President Obama (Vincent, 2012). To create a successful company brand leaders learn to develop a strategy that integrates marketing campaigns to support the promises companies make offering explanations on how they intend to keep those promises. These integrated components serve to build trust and a positive experience for consumers.

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Companies also communicate their image in a way that effectively takes root in shareholders’ memories. An effective marketing team in turn communicates the company’s message through images by disclosing the strong points of an organization’s brand to connect emotionally with their shareholders. Baack and Clow (2012) contend that the marketing aspect of an organization should produce consistent images that are developed to build trust and loyalty with their customers (Baack & Clow, 2012). For example, a company’s image can identify what the company represents and well as how recognizable it is in the marketplace. An excellent example of this was displayed in the national GEICO campaign ad that made people believe getting car insurance was so easy even a caveman could do it. This brilliant strategic move helped GEICO achieve dominance in the auto insurance industry. The innovative ad used humor and introduced a new character that brought attention to their company in a unique way. This strategy was effective because it did not take away from the image or brand that they already developed that was based on trust and good service. It focused on the theme of simplicity emphasizing that even a caveman with a primitive brain in a modern day society could get insurance. This groundbreaking ad also effectively helped broaden their target audience. In conclusion, building a strong corporate image provides many benefits that help establish a company’s foundation to help them build a solid reputation.

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References:

Baack, D., & Clow, K. (2012). Integrated advertising, promotion, and marketing communications (Fifth ed.). Upper Saddle River, NY: Pearson Education, Inc.

Morgan, J. (2012). Brand against the machine: How to build your brand, cut through the marketing noise, and stand out from the competition. Hoboken, NJ: John Wiley & Sons, Inc.

Vincent, L. (2012). Brand real: How smart companies live their brand promise and inspire fierce customer loyalty. New York, NY: AMACOM.