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Summary Marketing IIB (Integrated Marketing Communications) Chpt.1 - Overview of IMC
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Obstacles to Implementing IMC, Promotion Management, Earned Media, and the Five Marketing Concepts.
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Integrated Marketing Communications by ProfessorBurgerQueenOverview of Integrated Marketing Communications
- Marketing is the process of identifying customers and "creating,
communicating, delivering, and exchanging" goods and services for the
satisfaction and retention of those customers.
- The marketing concept is a strategy that companies implement to satisfy their
customers' needs, increase sales, maximise profit and get ahead of their
competition.
- There are five common marketing concepts that organisations adopt for this:
- Production Concept,
- Product Concept,
- Selling Concept,
- Marketing Concept,
- Societal Marketing Concept.
- Production concept
- Management focuses on improving production and distribution efficiency.
- “Consumers will favour products that are available and highly affordable”.
- Product concept
- This concept holds that the consumers will favour products that offer the most
in quality, performance and innovative features.
- Targeting only on the company’s products could also lead to marketing
myopia.
- Selling concept
- “consumers will not buy enough of the firm’s products unless it undertakes a
large-scale selling and promotion effort”.
- Management focuses on creating sales transactions rather than on building
long-term, profitable customer relationships.
- Typically the selling concept is practiced with unsought goods. Unsought
goods are that buyers do not normally think of buying, such as insurance or
blood donations.
- Marketing concept
- “achieving organizational goals depends on knowing the needs and wants of
target markets and delivering the desired satisfactions better than competitors
do”.
- The marketing concept is a customer-centered “sense and responds”
philosophy. The job is not to find the right customers for your product but to
find the right products for your customers.
, Integrated Marketing Communications by ProfessorBurgerQueen
- Societal marketing concept
- “marketing strategy should deliver value to customers in a way that maintains
or improves both the consumer’s and society’s well-being”.
- It calls for sustainable marketing, socially and environmentally responsible
marketing that meets the present needs of consumers and businesses while
also preserving or enhancing the ability of future generations to meet their
needs.
- Marketing Communications is the collection of all elements of a firm’s
marketing mix that facilitate exchange by establishing shared meaning with the
firm’s customers.
- B2B, B2C, C2B, B2B
- Primary tools of Marcomm
- Media advertising
- Tv, radio, magazines, newspapers
- Direct response advertising
- Direct mail, cold calling
- Place advertising
- Billboards, posters
- Trade and consumer-oriented promotions
- Trade shows, samples, coupons, contests/sweepstakes
- Event marketing and sponsorships
- Personal selling
- Social media
- Digital marketing
- Search engine optimization, mobile advertising
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