Transcript Chap002.ppt
2 The Role of IMC in the Marketing Process McGraw-Hill/Irwin Copyright © 2012 McGraw-Hill Companies, Inc., All right reversed Geico Marketing Success Strong brand image and strong IMC programs 2-2 Marketing & Promotions Process Model 2-3 Marketing Strategy and Analysis Strategic Marketing Plan Opportunity Analysis Competitive Analysis Target Market Selection 2-4 The Target Marketing Process Identify markets with unfulfilled needs Determine market segmentation Select a market to target Position through marketing strategies 2-5 Target Market Identification Isolate Consumers With Similar… Social class Lifestyles Economic status Geographic location Marital status Age Needs 2-6 Market Segmentation • Dividing a market into distinct groups • With common needs • Who respond similarly to a marketing situation 2-7 Bases for Market Segmentation Demographic Geographic Socioeconomic Gender Region Income Age City size Education Race Metropolitan area Occupation Life stage Density Birth era Household size Psychographic Residence tenure Personality Marital status Values/Lifestyle 2-8 Geographic Segmentation Big Red targets a specific geographic region 2-9 Demographic Segmentation Ad 2-10 Benefit Segmentation Ad 2-11 PRIZM Social Groups HIGH $ LOW 2-12 Test Your Knowledge All of the following are considered market coverage alternatives except: A) Undifferentiated B) Differentiated C) Concentrated D) Dispersed 2-13 Selecting a Target Market 1 Determine how many segments to enter 2 Determine which segments have the greatest potential 2-14 Segments Undifferentiated Concentrated Differentiated 2-15 Market Positioning Fitting the product or service to one or more segments of the broad market in such a way as to set it apart from competition 2-16 Positioning Strategies Attributes and Benefits Price/Quality Use/Application Product Class Product Users Competitors Cultural Symbols 2-17 Positioning by Cultural Symbol 2-18 The Marketing Planning Program Product Decisions Promotional Strategy Distribution Channels Price Decisions 2-19 Branding Goals Build & maintain brand awareness and interest Develop & enhance attitudes toward the company, product, or service Build & foster relationships between the consumer and the brand 2-20 Branding Brand Identity vs. Brand Equity 2-21 Branding and Packaging Decisions BRANDING Brand name communicates attributes and meaning Advertising creates and maintains brand equity PACKAGING Has become increasingly important Often the customers’ first exposure to product 2-22 Packaging Creates Image 2-23 Pricing Decisions Factors the firm must consider What consumers give up to buy a product or service Costs Time Demand Mental activity Competition Behavioral effort Perceived value 2-24 Relating Price to Ads and Promotions Price must be consistent with perceptions of the product Higher prices communicate higher product quality Lower prices reflect bargain or “value” perceptions Price, advertising, and distribution must be unified in identifying product position 2-25 Market Channels Sets of interdependent organizations involved in the process of making a product or service available for use 2-26 Channels and Image • Channels can impact communication objectives • Image • Store displays • Point-of-purchase merchandising • Shelf footage 2-27 Types of Channels • Direct • Driven by direct-response ads, telemarketing, the Internet • Often used when selling expensive and complex products • Indirect • Network of wholesalers and/or retailers 2-28 Push vs. Pull Strategies 2-29 Test Your Knowledge An ad in a publication aimed at veterinarians explains why they should recommend Eukanuba cat food to the owners of the cats they treat. This is an example of: A) Consumer advertising B) A promotional pull strategy C) A harvesting strategy D) A consumer promotion E) A promotional push strategy 2-30