Thursday, December 31, 2009

Top 10 Concepts: Chapter 18 Managing Mass Communications

Ch18 Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations
  1. Marketers can make use of 4 mass communication tools to improve a certain brand or company: (a) Sales promotion consists of a diverse collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers or the trade. (b) Public relations (PR) involve a variety of programs designed to promote or protect a company’s image or its individual products. (c) Events and experiences are a means to become part of special and more personally relevant moments in consumers’ lives. (d) Advertising is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
  2. Developing an advertising program involves a five step process known as the 5Ms: Mission (set advertising objectives), Money (establish a budget), Message (choose the advertising message and creative strategy), Media (decide on the media), and Measurement (evaluate communication and sales effects).
  3. Advertisers always seek “the big idea” that connects with consumers rationally and emotionally, sharply distinguishes the brand from competitors, and is broad and flexible enough to translate to different media, markets and time periods.
  4. Alternative advertising options (i.e. place advertising, product placement, point-of-purchase) can often reach a very precise and captive audience in a cost-effective manner. Its message must be simple and direct and is effective in enhancing brand awareness or brand image.
  5. The most effective media timing pattern depends on the communications objectives in relationship to the nature of the product, target customers and distribution channels.
  6. A company’s share of advertising expenditures produces a share of voice (proportion of company advertising of that product to all advertising of that product) that earns a share of consumer’s minds and hearts, and ultimately a share of market.
  7. Sales promotion includes tools for consumer promotion, trade promotion, and business and sales-force promotions that benefits not only the marketers but also manufacturers, consumers, and retailers.
  8. Involvement in events can broaden and deepen the relationship of the sponsor with its target market, but only if managed properly.
  9. Experiential marketing not only communicates features and benefits but also connects a product or service with unique and interesting experiences.
  10. Many companies today use marketing public relations (MPR) to support the marketing department in corporate of product promotion and image making. MPR is more than just publicity as it can affect public awareness at a fraction of the cost of advertising and is often much more credible.

Beatriz Pacheco (December 1, 2009)