Class notes
BUS3043S Notes
- Course
- BUS3043S (BUS3043S)
- Institution
- University Of Cape Town (UCT)
Lecture notes of 81 pages for the course BUS3043S at UCT (Marketing IB Notes)
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BUS3043SThis course provides students with an overview of the development,
implementation and evaluation of marketing communication activities and
strategies.
- Evaluation of factors influencing both the design and implementation of
comprehensive, integrated marketing communication (IMC) programmes.
- Formulate a communications strategy
Integrated Marketing
Communications
COMMUNICATION is key to an organisation’s success
- It affects market awareness and competitive advantage
- Communicating with consumer and customers is named marketing
communication
Marketing communication forms part of promotion under the 4P’s of the
marketing mix.
Defined as:
- “The concept & process of strategically managing audience-focused,
channel centred and results-driven brand communication over time”
- The coordination and integration of all marketing communication efforts in
a company into a seamless programme or campaign, to derive maximum
impact on customers and other stakeholders.
IMC is a concept and process: Informing, Reminding, Persuading
- The concept of integration is WHOLENESS.
- Achieving this wholeness creates SYNERGY.
This is the principle benefit of IMC: because each element of the communications
mix reinforces the other for greater effect. The process of IMC means
communication becomes the driving force of the marketing mix throughout the
organisation, therefore it must be consistent.
Evolution of IMC
Initially, different entities handled different marketing communication tools. This
led to poor communication between entities and inconsistent and uncoordinated
activities.
Marketers could no longer dictate to their target audience as consumers became
more informed and empowered. IMC also developed due to consumer
empowerment, rapid technological growth and political and social changes.
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, - Evolved from the transactional functionality (product and sales
orientation) to relational approach (long-term relationships and the
creation of value).
- Communication has also evolved from a one-way persuasive approach
(inform, persuade and remind) to more relational approach to build
dialogue (inform, listen and respond)
- There was integration relating to marketing, stakeholders and the
business.
o Stakeholders
Anyone who matters to/affects the business – consumers,
shareholders/investors, the community, government, etc.
Marketing communications are the main persuasive element
that a company can use to connect to its market by
communicating ideas and imparting perceptions of the
brand/product/service to customers/stakeholders.
o Business
IMC integrates all parties in the exchange process in order to
maximize mutual satisfaction of each other’s wants and
needs in the on-going, interactive, cross-functional process of
brand communication planning, execution and evaluation.
Focus of IMC (20th Century) is the consumer:
- Looking to provide added value to consumers and increase positive
relationships
- Key issues include: Segmenting, targeting consumers, identifying the
expectations, needs and problems (ENPs), their perceptions, their
decision-making process and consumer contact points.
o Target population: people with similar characteristics and needs
from the same location. It can be described geographically,
demographically, psychographically and behaviourally.
Marketers need to be specific and use all four categories
because they all play a role.
Clarifying the target population leads to a foundation of a
marketing strategy.
o STP is putting the product in the mind of the target population. Then
the marketing mix needs to be in line with the positioning of the
brand.
How you want to be perceived by the consumer is
determined by the product, price, promotion and
place/distribution.
Promotion = marketing communications. Marcom has
changed because of technological.
- How to create brand equity; create brand trust; and even create love for
the brand.
- Technology now has marketers focusing on the medium of
communication, engagement with customers and how to involve the
customer in brand development
Future of IMC
Influenced by
2
, - Media patterns
- New media opportunities
- Trend predictions
- The move to Integrated Brand Communications (IBC)
- The need for the integration of IMC tools
- Digital media competition
- Traditional media is losing its grip
- Consumers have changed beyond recognition and have far more control
- Fragmented communication channels
Marketing Communication Tools
Marketing communications encompasses all the planned messages that a
business will use to support their marketing activities.
This can be achieved through:
- Advertising;
- Personal Selling;
- Shopper marketing and selling;
- Direct response marketing;
- Public relations and Word-of-Mouth;
- Sponsorship and events marketing; and
- Digital media marketing; and alternative communications channels
- But not all of these tools should be used for every brand every time.
Marketing Communication
Advertising is a broad term for marketing communications, used to group every
piece of communication a marketer aims at a potential consumer.
- Advertising is the creative expression of the marketing objective
- Advertising attempts to communicate a message from the marketer about
the brand.
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, - It expects to achieve some form of behaviour change; a sale, a change in
attitude, the addition of that brand to a mental shopping list, a change in
perception, the addition of knowledge.
- Consistency is key, as well as a single-minded, clear, persuasive message.
- There needs to be the ability to understand the positioning and benefit of
the brand vs its competitors, and what the brand is saying or asking.
- The advertising goals through marketing communications are awareness,
comprehension, conviction and action (a call to action at the end).
IMC Plan
The IMC plan details which marketing communications and media should be
used, at which times, and to what extent.
It covers all the different ways that a business or organization communicates
about itself, its products or services to the world.
All good plans include:
- Objectives
- Strategies
- Tactics
An IMC plan can be developed for an entire business, a new product or service
launch, an event, or a specific campaign.
- It provides the roadmap for an organization to deliver messages to, and
interact with, target markets and publics.
- An IMC plan ensures an organization’s message (the content it
conveys) is consistent across all channels to reach the correct customers.
- It starts with research into the business’ mission, corporate goals,
reputation and branding equity to ensure the plan fits with the overall
business strategy
Strategic planning is a process of developing and maintaining a fit between the
organization’s goals and capabilities and changing market opportunities.
- A corporate or business plan states a company’s financial objectives and
strategies for achieving those objectives.
- A marketing plan is a set of objectives (what), strategies (how), and tactics
(actions) orchestrating marketing activities designed to help the company
achieve its financial objectives.
- Annual Marketing Communication plans are generally composed of a
campaign or programme
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