Marketing Communications and Advertising

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Mark333; Marketing Communications & Advertising
Study Notes Autumn Session

Advertising:- a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future

Roles of Advertising
* Communication & Persuasion
* Brand Equity
* Brand Image
* Relationship Marketing

Classifications of Advertising
Consumers
* National Advertising
* Retail/local advertising
* Primary vs Selective Demand Advertising

Organisations
* Business to Business Advertising
* Professional Advertising
* Trade Advertising

Advertising Structure

Types of Agencies
* Full Service:- full range of marketing, communication and promotion services * Creative Boutiques:- provide only creative services; ability to turn out inventive creative work quickly * Media Specialists:- specialize in buying media, especially broadcast time (implement strategy and buy time and space)

In house Agencies:- some companies may perform all of their marketing work ‘in house’ Advantages
* Cost Savings
* More Control
* Better coordination
Disadvantages
* Less experience
* Less objectivity
* Less flexibility

Agency Remuneration
* Traditional method (media commissions)
* Fee Based (fixed terms, fee plus commission combination) * Incentive Method (performance based)

How Agencies gain Clients
* Referrals
* Presentations
* Image, reputation
* Solicitations
* Public Relations

Why Agencies Lose Clients
* Poor performance
* Unrealistic demands
* Personality conflicts
* Personnel changes
* Poor communications
* Conflicts of interest
* Changes in size
* Changes in strategy
* Declining sales
* Payment conflicts
* Policy changes

Lecture 2; Week 2; Chapter 2 IMC: How Marcoms evolved

Marketing:- the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients and society at large

Value:- refers to the customers perception of all the benefits of a product or service weighed against the costs of acquiring and consuming it.

Relationship Marketing:- represents a shift away from transactional encounters toward enduring and meaningful relationships between consumers and organizations

Integrated Marketing Communications:- is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates and other targeted relevant external and internal audiences; the goal is to generate both short term financial returns and build long term brand and shareholder value

**NB:- In the past Marketing Communications was dominated by mass media advertising, which lead to the dominance of advertising with other marketing elements such as relationship marketing as an afterthought; fragmented uncoordinated campaigns were typical of the 20th century; marketers recognizing the need for change developed the concept of IMC**

Market Factors that Contributed to the rise of IMC
* Consumer empowerment
* Changing demographics
* Altered lifestyles
* Market fragmentation
* Technology
* Advent of electronic communications devices
* Rise of new media

Industry Factors that Contributed to the Rise of IMC
* Increasing professionalism among agencies and marketing communications service providers * Competition between advertising agencies and specialist communications service providers * Clients began demanding the full array of communications services from agencies * Marketers began to redefine their activities in a more strategic and coordinated manner * Consumers perceptions of brands as a synthesis of the bundle of messages received or contact points with a brand

Integration:- is a...
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