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What does IMC stand for? What is it? What does it cover?
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Terms in this set (68)
IMC stands for "Integrated Marketing Communication" & it is the coordination and integration of all marketing communication tools, avenues, and sources in a company into a seamless program designed to maximize the impact on consumers and other stakeholders. It seamlessly uses different platforms, channels, etc. to integrate a unified message for a business or brand.
Sender: The company or brand sending the message
Encoding: ¨Occurs when sender forms verbal/nonverbal cues to create message
Transmission device: Channels through which messages travel to audiences
Receiver: Customers/Audience
Decoding: Occurs when message reaches receiver's senses; well-done ads engage senses
Feedback: ¨Receiver's response to sender
Purchases, inquiries, website hits, store visits, etc.
Channel Power refers to the ability of any one channel member to alter or modify the behavior of other members in the distribution channel, due to its relatively strong position in the market.
Generally, the manufacturers are seen, dominating the behavior of other channel partners and influencing their actions according to its requirements.
Identify/define the types of brands.¨Family Brands Group of related products sold under one name ¨Brand Extension Use of established brand name on products or services not related to core brand ¨Flanker Brands Development of new brand sold in same category as another product ¨Private Brands Proprietary brands marketed by an organization and sold exclusively within the organization's outlets Off-brands Brand parity & Brand equity ¨Co-Branding/Alliance Branding Two or more brands in single marketing offer 3 Types ***See Ingredient, Cooperative, & ComplementaryDefine "Brand Equity."The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself. The worth of a brand in and of itself — i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brandsKnow the steps/order of the IMC Planning Process.Step 1: Know your target audience. As a general rule, there is no "general audience". You always want to communicate with a specific audience to make the most effective use of your resources. Segmenting specific audiences into groups based on characteristics will help you identify who are most likely to purchase or utilize your products and services. Step 2: Develop a situation analysis. Commonly referred to as a SWOT Analysis, this is basically a structured method of evaluating the internal strengths and weaknesses, and external opportunities and threats that can impact your brand. A situation analysis can provide much insight into both internal and external conditions that can lead to a more effective marketing communications strategy. Step 3: Determining marketing communication objectives. In this step, you basically want to document what you want to accomplish with your IMC strategy. Objectives should be measurable if you truly want to map your campaign's effectiveness at the end of your plan's term. Step 4: Determining your budget. Having a realistic idea on what you have to work with is important as it will shape the tactics you develop in the next step. Once you determine your overall budget, you will want to come back to this after completing step five to further refine your budget allocations. Step 5: Strategies and tactics. Looking back at the objectives you created in step three, you will want to develop strategies which are ideas on how you will accomplish those objectives. Tactics are specific actions on how you plan to execute a strategy. Step 6: Evaluation and measurement. Almost as important as the plan as a whole, you want to outline a method of how you will evaluate the effectiveness of your IMC strategy. Sometimes elements of your plan will not work. It's important to know what did or didn't, try to understand why, and make note for future planning. The more focused on how you will utilize your resources for promoting your business, the more you will understand where you money is going and how it's performing. An IMC strategy is important for any business or organization.The IMC Planning Process is bookended with what?Research.Identify/define the three primary communication research approaches.¨Product-specific - Involves identifying key product characteristics that become selling points. Sells the benefit that the product provides ¨Consumer-oriented - Assists marketers in identifying the context of a product's use (anthropological approach, Sociological analysis, and psychological approach) ¨Target-market - Identifies who will be the recipient of the planned communications campaignDefine "Market Segmentation," know the key types, and know its associated test.¨Set of business or group of individual customers ¨Share distinct characteristics ¨Should pass tests: Test: Homogenous Differs from general population Large enough ReachableDefine "Product Positioning."¨Summarizes the perception in the consumer's mind of the nature of a company or brand and its products relative to competitors. Product attributes, competitors, product uses, price/quality, product user, product class, product as cultural symbolDefine "Consumer Profile."¨Who is the prospect? ¨What does she do/want? ¨Where does she live? ¨When does she buy? ¨How does she buy? ¨Why would she be interested? ¨How can you reach this person (media)?Know the steps/order of the IMC Management Process.1. Considering theory/approach to guide process 2. Company leaders develop ad guidelines 3. Decide on in-house/ad agency 4. Generate ad parameters for the campaign 5. Develop creative brief to direct the campaignDefine "Campaign."¨Common objective ¨Unified theme ¨Coordinated rollout ¨Components include: Advertising Promotion PR Internet marketing Social media Direct marketing An organized course of action to achieve a goalWhat does AIDA stand for? What is the most common sequence that takes place when attitude forms (paralleling AIDA)?Awareness: creating brand awareness or affiliation with your product or service. Interest: generating interest in the benefits of your product or service, and sufficient interest to encourage the buyer to start to research further. Desire: for your product or service through an 'emotional connection', showing your brand personality. Move the consumer from 'liking' it to 'wanting it'. Action: CTA - Move the buyer to interact with your company and taking the next step ie. downloading a brochure, making the phone call, joining your newsletter, or engaging in live chat, etc. This hierarchy of effects model mirrors these steps to attitude change in the AIDA model. It describes the most common sequence that takes place when forming or changing attitudes, perhaps for a brand or product,. (p. 125) That process of attitude formation most commonly moves from Cognitive (or thinking) à to affective (or feeling) à to conative (which describes doing) This fits with the famous AIDA model (attention, interest, desire, action).Define/identify "Cognitive," "Affective" and "Conative."¨Cognitive-oriented ads: brand awareness, brand knowledge ¨Affective-oriented ads: inspiring liking, preference, conviction ¨Conative-oriented ads: facilitate product purchases, other actionKnow the parts of the Hierarchy of Effects Model and its associated message strategies.The hierarchy of effects model is a model which tells advertisers to make an advertisement in such a way that the customer goes through all these six stages namely awareness, knowledge, liking, preference, conviction and purchase.What does MECCAS stand for? Explain it.Means-ends theory forms the basis for the Means-Ends Conceptualization of Components for Advertising Strategy Model (MECCAS) -this model explains ways to move consumers from product attributes to personal values by highlighting the products benefits -way of linking product attributes/characteristics to specific benefits customer can derive -these then lead to fulfillment of personal valuesDefine "Diminishing Returns."¨Diminishing Returns Point when ad campaign has saturated market Incremental increases in expenditures = smaller increases in sales.Define "Carryover Effects."¨Carryover Effects Consumer recalls brand when needed because exposed to message so much Ex: Washing machine breaks down, requires replacement, think of Maytag Brand recallDefine "Wear-Out Effects." What does research tell us about this?¨Wear-Out Effects Ad becomes old/boring Consumers ignore Annoyance Research: Half of all campaigns last too long Ex: Budweiser(1999) Revived (2020)Define "Decay Effects."¨Decay Effects Point when company stops advertising, consumer forgets message Means brand should keep engaging consumersWhat does it mean to do advertising/marketing in-house versus agency?¨In-House Lower Costs Consistent brand message Better product understanding Faster ad production Works closer with CEO Lower creative team turnover ¨Agency Reduce costs/More efficient than in-house Expertise Outsider perspective Top talentWhat does it mean to have a 75-15-10 budget breakdown?The 75-15-10 is a good guide to use. When looking at the total cost of an advertising campaign, 75% of the money should be spent on media buys, 15% on creative work by the agency, and 10% on production of the ads.Define "Crowdsourcing."¨Crowdsourcing Outsource creative to public User-generated Viral buzz Best when targeted to current customers with high brand loyaltyDefine "Media Mix."¨Media selection Media mix" Look at habits of target audience Budget will also determine 75-15-10 breakdown Smaller accounts sometimes use a different breakdown -50 percent for media purchases -and the rest goes to creative and production workDefine "Tagline" and know its synonyms.Key phrase in an advertisement. Memorable and convey some sort of special meaning associated with a brand or product. banner, catchphrase, cry, shibboleth, slogan, watchword.Know the main components of a Creative Brief.¨What is our objective? ¨Who are we targeting? ¨What does audience currently think? ¨What do we want them to think? ¨Why should they think this? ¨What is our message?Identify/define the seven main types of Advertising Appeals.¨Fear ¨Humor ¨Sex ¨Music ¨Rational ¨Emotional ¨ScarcityDefine "Executional Framework" and know the types of these in advertising.¨Signifies manner in which an ad appeal will be presented and a message strategy conveyed Types: ¨Animation ¨Slice of Life ¨Storytelling ¨Testimonial ¨Authoritative ¨Demonstration ¨Fantasy ¨InformativeDefine "Message Strategy." Know the types under the umbrellas of cognitive, affective, conative.¨Message strategies: primary tactics or approaches used to deliver the message theme. Cognitive Affective Conative ¨Cognitive-oriented ads: brand awareness, brand knowledge ¨Affective-oriented ads: inspiring liking, preference, conviction ¨Conative-oriented ads: facilitate product purchases, other actionDefine "Media Strategy" and "Media Planning." Know what media planners do, their process.Media Strategy: Analyzing/choosing media for advertising/ marketing campaigns Context Steadily rising prices for ad time/space Consumers look at limited media Media planners need to be picky Media Planning: ¨Starts with analyzing target audience, their media choices ¨Media planners, buyers ¨Components Marketing/ad analysis Media strategy Media schedule Justification/summary Media Planners: formulate a media program stating where and when to place ads. Work closely with creatives, account planners, agencies and media buyers. Media Buyers: after media is chosen, media buyers purchase space and negotiate rates, times, and schedules for ads. They work closely with sales reps, know about rates/schedules. They watch for special deals and tie-ins between media outlets (radio with TV, magazines with same owner, etc.) Media planner/buyer be the same person in small organizations.Define the following: Reach¨Number of people, households, businesses in target audience exposed to media vehicle/message schedule ¨At least once during given time period Usually four weeksDefine the following: Frequency¨Average number of times target market is exposed to particular ad during given time ¨At least once during given time period Usually four weeksDefine the following: Opportunities to See (OTS)¨Instead of frequency, media buyers can use OTS ¨Cumulative exposures achieved in given time period ¨Ex: Company places two ads on weekly TV show (4 shows in four-week period X two ads per show) = 8 OTS ¨Not actual views; measures opportunity for views!Define the following: Gross Rating Points (GRP)Measure impact/intensity of media plan GRP = media vehicle's rating X OTS Shows advertisers odds that member of target audience sees viewed content Higher OTS, frequency = higher chance of seeing ad GRP measures impact or intensity of media plan Your GRP = media vehicle's rating X OTS Shows advertisers odds that member of target audience sees viewed content Higher OTS, frequency = higher chance of seeing adDefine the following: Cost Per Thousand (CPM)Identifies dollar cost of reaching 1,000 members of the media vehicle's audience Measures overall expenditures associated with an ad campaign Helps see how cost-effective campaign wasDefine the following: RatingsMeasure percentage of firm's target market exposed to TV show or number of readers of print mediumDefine the following: Cost Per Rating Point (CPRP)Used to compare media Measures the relative efficiency of a media vehicle relative to the firm's target marketDefine the following: ContinuityExposure pattern/schedule used in a campaign Three types of campaign patterns Continuous Pulsating Discontinuous/Flighting 3 types of campaign patterns 1)Continuous campaign: uses media time in a steady stream. Ex: home construction company such as Buford Hawthorne would use continuous schedule because individuals making decisions to build homes do not follow any consistent time frame for when they will be ready to buy ... so you rotate ads regularly in the same magazines, etc. so readers don't get bored 2) Pulsating: places ads in various media throughout the entire year, but then increases the number of ads in small, short bursts around holidays, including Christmas, Easter, etc. Ex: JC Penney does this to reach consumers when they are most likely to make purchases or buy special merchandise). 3) Flighting/Discontinuous: Ads run at only certain time of year when most advantageous Ex: Ski resort runs ad during fall/winter seasons but none during spring/summerDefine the following: Gross impressionsTotal exposures of the audience to an advertisement Does not account for percentage of total audience that sees the adKnow the Web 1.0-Web. 4.0 features.Now more than ever, brands are trending toward slashing budgets designated for traditional media marketing and moving it to digital and online communication. In the first first widespread use of the internet in the 1990s, termed Web 1.0, we saw static content and little consumer involvement. Upon Web 2.0, we saw more socially-based and audience-generated content emerge. Web 3.0 was characterized by integration, online metrics, and real-time instant communication. Web 4.0, the most recent iteration, has pushed customer Engagement as a first priority. In this version, it became no longer ok just to sell products and allow to post reviews. Instead, it hinged on a need to participate in ongoing dialogue with consumers and provide a seamless integration of platforms whether you are using your PC, tablet or phone.Define "SEO."Search Engine Optimization - the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the list of results returned by a search engine.Define "drill-down search."Drill down is a capability that takes the user from a more general view of the data to a more specific one at the click of a mouse. For example, a report that shows sales revenue by state can allow the user to select a state, click on it and see sales revenue by county or city within that state. It is called "drill down" because it is a feature that allows the user to go deeper into more specific layers of the data or information being analyzed.Define "Content Marketing"/"Branded Content," and know its strategies.¨Content Marketing: branded content Information, solutions Authentic Shareable Integrated search, social Regularly updatedDefine "Cyberbait."type of lure/attraction that brings people to a websiteDefine "Brand Spiraling."Using traditional media to promote/attract customers to a website ...Define "Dwell Time."Amount of time engaged with adDefine "Dwell Rate."Proportion of ad impressions resulted in users clicking, moving mouse over itDefine "Content Seeding."provides incentives for consumers to share content about a brand ... does not have to be financial (though that's most frequently used). Could be information, novelty, unique incentives, too.Define "Real-Time Marketing."creation/execution of instantaneous marketing message in response to - and in conjunction with - an occurrence during a live event.Know/Define the three types of interactive blogs.1) brand blog 2) individuals sponsored by brand 3) individual speaking about a brandDefine "Alternative Marketing" and know the types.ID places where consumers meet brand Creative! Same goals as traditional Relies on: Word-of-mouth Buzz Integration of hobbies, relaxation, eventsDefine "Buzz Marketing" and know its synonym.Word-of-mouth Consumer who like brand Sponsored consumers Brand ambassadors House/block parties Sponsored consumers Company employeesKnow the "Buzz Marketing" stages.Inoculation: product introduced Incubation: Product used by a few innovators/trendsetters Infection: widespread use of product occursDefine "Stealth Marketing."Form of buzz Consumer doesn't know Undercover marketing Some ethical concerns advertises a product to people without them knowing they are being marketed to Ex: asking someone to take her picture, then using it as a way to talk about a camera.Define "Product Placement"/"Branded Entertainment."It i a form of stealth marketing. Under the umbrellas of buzz and stealth marketing is product placement and branded entertainment. Customer having fun, doesn't' feel "sold" to.Define "Guerilla Marketing."¨Marketing with limited resources ¨Aimed at small groups ¨Focus on consumer relationships ¨Generate excitement ¨Sometimes cheap ¨Unique Marketing with limited resources Aimed at small groups Find cheap, unique ways of doing things Media Advertising PR Events Surprise!Define "Lifestyle Marketing."ID marketing associated with hobbies/entertainment venues Off-beat/relaxed settings Festivals Craft shows Expos SportsDefine "Experiential Marketing."Combines: Direct marketing Personal selling Sales promotions Intimate Bruce Burnett, chief executive of i2i Marketing says experiential marketing "gives consumers the opportunity question as well as gain hands-on experience with a brand."Define "In-Store Marketing."Approximately 60 percent of all purchase decisions made in-store Often uses: Color Light SoundDefine "Point-of-Purchase Marketing."Unique and interesting display, think of impulse buying.