Marketing Management

Marketing Management. Welcome to.

Course Learning Outcomes. By the end of this course, you will be able to: Understanding Marketing Fundamentals: Students will demonstrate a comprehensive understanding of marketing concepts, including its definition, scope, historical evolution, and the distinction between marketing and selling. Analyzing Market Environment: Students will be able to analyze microenvironment and macroenvironment factors that influence marketing decisions, employing tools such as SWOT analysis and PESTEL analysis to assess internal and external business environments. Exploring Consumer Behavior: Students will gain insights into consumer behavior, including cultural, social, personal, and psychological factors that impact purchasing decisions. They will also comprehend the buyer decision process, segmentation, targeting, and positioning concepts. Managing Products and Brands: Students will learn to classify and manage products based on their life cycle stages, understand the new product development process, and recognize the significance of branding, brand equity, and brand loyalty in modern marketing strategies. Navigating E-Business Strategies: Students will grasp the fundamentals of e-business and e-commerce, explore online business models, formulate e-business strategies, and comprehend the legal and ethical considerations associated with e-business practices..

Welcome to Module 7. After the end of this Module 7 Integrated Marketing Communications , you will learn about • Elements of the promotional mix (advertising, sales promotion, personal selling, public relations, direct marketing) • Creating effective advertising campaigns (message creation, target audience identification, media selection) • Importance of consistent and coordinated marketing communication.

Integrated Marketing Communications. Integrated Marketing Communications (IMC) is a strategic approach that involves coordinating and aligning various communication channels and messages to deliver a consistent and unified brand image to the target audience. IMC aims to ensure that all promotional efforts, whether through advertising, public relations, personal selling, sales promotion, or digital marketing, work together harmoniously to convey a clear and cohesive brand message. By integrating marketing communications, organizations can create a synergistic effect, where each communication element reinforces the others, resulting in enhanced brand recognition, improved customer engagement, and ultimately, more effective marketing campaigns. IMC emphasizes the importance of a customer-centric approach, focusing on delivering relevant and meaningful messages across different touchpoints to create a holistic brand experience..

Let’s start with 7.1 Elements of the promotional mix.

3. Personal Selling: Personal selling involves one-on-one interactions between salespeople and potential customers. It allows for personalized communication and relationship-building. Example: Luxury car brands like BMW often employ personal selling through their dealerships, where sales representatives provide in-depth information, test drives, and tailored solutions to potential buyers. 4. Public Relations (PR): Public relations focuses on managing a positive brand image and building relationships with the public, media, and stakeholders. PR activities include press releases, media coverage, and events. Example: Apple's product launches generate widespread media coverage, creating anticipation and excitement around new products, thus enhancing the brand's reputation. 5. Direct Marketing: Direct marketing involves communicating directly with individuals through various channels, such as emails, texts, direct mail, and targeted advertisements. It allows for personalized communication and direct response. Example: Amazon's personalized email recommendations, based on a customer's browsing and purchase history, drive engagement and encourage repeat purchases..

Creating an Effective Promotional Mix: The success of a promotional mix lies in strategically combining these elements to maximize impact and achieve marketing goals. Consider a smartphone company launching a new model: • Advertising: The company runs television commercials showcasing the new features and benefits of the smartphone. • Sales Promotion: To incentivize early adoption, the company offers a limited-time discount for pre-orders. • Personal Selling: The company's sales representatives engage with potential corporate clients through presentations and demonstrations. • Public Relations: The company hosts a launch event attended by industry influencers, generating media coverage and excitement. • Direct Marketing: The company sends personalized emails to existing customers, highlighting the new model's compatibility with their current devices..

Moving on to 7.2 Creating effective advertising campaigns.

2. Target Audience Identification: Identifying the target audience is crucial to tailor the message appropriately. Understanding demographics, psychographics, behaviors, and preferences helps in connecting with the right consumers. Example: Apple's advertising for the iPhone emphasizes features appealing to tech-savvy individuals who value innovation and aesthetics. By understanding their target audience, Apple creates messaging that resonates with their values. 3. Media Selection: Choosing the right media channels to reach the target audience is essential. Channels may include TV, radio, print, online platforms, social media, and outdoor advertising. The selection should align with audience preferences and campaign objectives. Example: Red Bull's extreme sports and adventure-focused campaigns are often advertised through digital platforms and social media, reaching their young, adventurous target audience where they spend their time..

Creating Effective Advertising Campaigns: A Case Study Approach Imagine a sports apparel company launching a new line of performance shoes: Message Creation: The company develops a message emphasizing the shoes' advanced technology, comfort, and style. The message resonates with athletes and fitness enthusiasts seeking high-performance footwear. Target Audience Identification: The target audience includes active individuals aged 18 to 35 who are passionate about sports and fitness. They value quality, durability, and style in their athletic gear. Media Selection: The campaign leverages a mix of platforms, such as sports magazines, social media, and fitness websites. Instagram and YouTube are used to showcase the shoes in action, while magazine ads provide in-depth product details. Conclusion: Creating effective advertising campaigns is an art and science that involves aligning messaging, target audience, and media channels to achieve marketing goals. Through strategic message creation, audience identification, and media selection, brands can engage consumers, evoke emotional connections, and drive desired actions. By understanding the significance of each step and utilizing real-world examples, marketers can craft campaigns that resonate with consumers, leave a lasting impact, and contribute to brand success in the competitive marketplace..

Continuing to 7.3 Importance of consistent and coordinated marketing communication.

3. Building Customer Trust: Consistency builds trust. When a brand delivers a consistent experience, customers feel confident that they know what to expect. This trust leads to increased loyalty and positive word-of-mouth recommendations. Example: Amazon's consistent promise of fast and reliable delivery, along with a user-friendly online shopping experience, has led to customer trust and loyalty. 4. Enhancing Message Clarity: A consistent and coordinated message prevents confusion and ensures that customers understand the brand's value proposition. When messages are clear and uniform, customers are more likely to grasp the brand's offerings and benefits. Example: Apple's marketing consistently emphasizes simplicity, innovation, and user-friendly design. This messaging clarity has contributed to Apple's reputation for creating intuitive products. 5. Reinforcing Differentiation: In a competitive market, consistency can help a brand differentiate itself from competitors. A unique and consistent brand identity sets the brand apart and attracts customers seeking a particular experience. Example: Volvo consistently focuses on safety features in its marketing. This emphasis has differentiated the brand as a leader in automotive safety, appealing to safety-conscious consumers..

6. Maximizing Marketing Impact: Coordinated marketing communication ensures that all channels work in tandem to deliver a unified message. This synergy amplifies the impact of marketing efforts, leading to a more memorable and persuasive brand message. Example: Airbnb's marketing campaigns seamlessly integrate across various platforms, from social media to television. This coordination maximizes the reach and resonance of their message. 7. Adapting to Changing Channels: In a rapidly evolving digital landscape, consistency and coordination enable brands to adapt their messaging to different channels while maintaining the core brand essence. This adaptability ensures relevance across diverse platforms. Example: Coca-Cola's "Share a Coke" campaign effectively adapted its personalized bottle labels for social media, extending the campaign's impact beyond physical products..

Let’s discuss a Case Study on Nike's Integrated Marketing Communications (IMC) Strategy.

Sales Promotion: Nike's sales promotions often coincide with major sporting events. For example, during the FIFA World Cup, Nike releases limited-edition jerseys and offers discounts on soccer cleats, leveraging the excitement of the event to drive sales. Personal Selling: While Nike primarily focuses on mass advertising, personal selling comes into play through its interactions with athletes and sports teams. Nike representatives work closely with professional athletes to customize footwear and gear to their needs, ensuring a personalized experience that enhances performance. Public Relations: Nike's public relations efforts focus on creating events and campaigns that generate media coverage and social buzz. The annual Nike Women's Marathon, for instance, raises funds for cancer research while creating positive publicity for the brand..

Direct Marketing: Nike's direct marketing efforts include email campaigns, targeted online ads, and personalized recommendations on its website. By collecting data on customer preferences and behaviors, Nike tailors its messages and offers to individual consumers. Integrated Approach: What sets Nike's IMC strategy apart is its seamless integration across channels. The brand's advertising campaigns are consistent with its website, social media, and physical stores. When Nike launches a new product, it employs a combination of social media teasers, influencer endorsements, and in-store displays to create a buzz among consumers. Global Reach and Local Relevance: Nike's IMC strategy effectively caters to global audiences while maintaining local relevance. For instance, during the 2020 Tokyo Olympics, Nike collaborated with Japanese athletes and influencers to create a campaign that celebrated both the athletes' achievements and Japanese culture. Consistent Messaging and Iconic Slogan: The "Just Do It" slogan is an iconic example of consistent messaging. It not only captures Nike's essence but also serves as a rallying cry for consumers worldwide, fostering brand loyalty and recognition..

Conclusion: Nike's IMC strategy exemplifies the power of a consistent and coordinated promotional mix. By integrating advertising, sales promotion, personal selling, public relations, and direct marketing, Nike has created a brand that resonates with athletes and consumers globally. The brand's ability to create emotional connections, engage audiences through storytelling, and maintain a consistent brand identity has solidified its position as a trailblazer in the sportswear industry. This case study underscores the significance of IMC in shaping brand perceptions, driving consumer engagement, and achieving long-term business success..

Glossary of Key Terms- Module 7. 1. Integrated Marketing Communications (IMC): A strategic approach to unifying all communication channels and messages to deliver a consistent and cohesive brand image to the target audience. 2. Promotional Mix: The combination of various communication tools, such as advertising, sales promotion, public relations, personal selling, and direct marketing, used to promote a product or service. 3. Advertising: Paid communication through media channels to promote products, services, or brands to a wide audience. 4. Sales Promotion: Short-term incentives designed to encourage immediate purchases or consumer engagement, often involving discounts, contests, or special offers. 5. Personal Selling: One-on-one interactions between sales representatives and potential customers to convey information, answer questions, and build relationships. 6. Public Relations (PR): Managing and maintaining a positive brand image through media coverage, events, and relationships with stakeholders. 7. Direct Marketing: Communicating directly with individual consumers through targeted messages, such as email marketing, direct mail, and telemarketing..

8. Message Consistency: Ensuring that a brand's messages across various channels maintain the same core themes, values, and language. 9. Brand Identity: The unique visual and emotional elements that differentiate a brand, including logo, colors, typography, and overall personality. 10. Brand Recognition: The ability of consumers to identify a brand based on its distinct visual and messaging cues. 11. Coordinated Campaign: An advertising campaign where different promotional elements are strategically aligned to deliver a unified message. 12. Emotional Branding: Creating connections with consumers through emotional storytelling that resonates with their values and aspirations. 13. Touchpoints: The various points of interaction between a brand and its customers, including advertising, social media, retail stores, and customer service..

14. Media Channels: The platforms used to deliver advertising and marketing messages, such as television, radio, print, digital, and social media. 15. Market Segmentation: Dividing the target audience into smaller, homogeneous groups based on demographics, psychographics, behaviors, or other factors. 16. Message Clarity: Ensuring that the brand message is easily understandable and conveys the intended value proposition to the audience. 17. Media Planning: Strategically selecting and scheduling media channels to reach the target audience effectively and efficiently. 18. Influencer Marketing: Collaborating with individuals who have a significant online following to promote products or services to their audience. 19. Brand Consistency: Maintaining a uniform brand identity and messaging across all marketing materials and channels. 20. Call to Action (CTA): A direct prompt to encourage the audience to take a specific action, such as making a purchase, signing up, or visiting a website..

Test your Knowledge, with the following Multiple Choice Questions.

Answer is b) Integrated Marketing Communications.

Question 2) Which of the following is NOT an element of the promotional mix? a) Advertising b) Product Development c) Sales Promotion d) Personal Selling.

Answer is b) Product Development.

Question 3) Which promotional element involves one-on-one interactions between sales representatives and potential customers? a) Advertising b) Sales Promotion c) Personal Selling d) Public Relations.

Answer is: c) Personal Selling.

Question 4) What is the goal of public relations (PR) in marketing? a) Directly selling products b) Creating brand recognition c) Encouraging immediate purchases d) Maximizing website traffic.

Answer is: b) Creating brand recognition.

Question 5) Which promotional strategy focuses on immediate incentives to encourage purchases or engagement? a) Public Relations b) Personal Selling c) Sales Promotion d) Direct Marketing.

Answer is: c) Sales Promotion.

Question 6) What is the main advantage of integrated marketing communications (IMC)? a) Reducing marketing costs b) Focusing solely on advertising c) Delivering a consistent brand message d) Eliminating the need for personal selling.

Answer is: c) Delivering a consistent brand message.

Question 7) What term refers to the combination of different communication tools, such as advertising and public relations, used in marketing campaigns? a) Integrated Messaging Matrix b) Brand Consistency Framework c) Promotional Mix d) Marketing Collateral Fusion.

Answer is: c) Promotional Mix.

Question 8) Which element of IMC involves communicating directly with individual consumers through targeted messages? a) Advertising b) Personal Selling c) Public Relations d) Direct Marketing.

Answer is: d) Direct Marketing.

Question 9) What does "Brand Identity" encompass in marketing? a) The total number of brand mentions online b) The variety of product offerings under a brand c) The unique visual and emotional elements that differentiate a brand d) The geographical locations of the brand's customers.

Answer is: c) The unique visual and emotional elements that differentiate a brand.

Question 10) What is the term for the points of interaction between a brand and its customers? a) Brand Engagement Nodes b) Interaction Spots c) Brand Nuclei d) Touchpoints.

Answer is: d) Touchpoints.

Assignment Style Question. Question 1: Sarah is a marketing manager for a fashion brand launching a new collection. She wants to ensure that the advertising campaign's message, which emphasizes sustainability and style, is consistent across all channels, from social media posts to in-store displays. How can Sarah use integrated marketing communications to achieve this goal? Question 2: ABC Electronics aims to introduce its latest smartphone model to tech-savvy consumers. The company is considering leveraging both advertising and influencer marketing for the launch. How can the company coordinate these two promotional elements effectively to ensure a unified message and maximize impact?.

End of Module 7. Thank you for watching!.