MARKETING COMMUNICATI

ON MIX

CONTENTSMARKETING COMMUNICATION.MARKETING MIX.MARKETING COMMUNICATION PROCESS.CONCEPT OF MARKETING

COMMUNICATION MIXGOAL OF MARKETING COMMUNICATION

MIX.DIFFERENT FORMS OF

COMMUNICATION.DEVELOPING & DESIGNING MARKETING

STRATEGY.CONCLUSION.

MARKETING COMMUNICATIO

N Marketing communications is a

subset of the overall subject area known as marketing.

The word communication comes from the Latin word communis, meaning common. When we communicate we try to establish a 'commonness' with someone, that is we try to share information, an idea or an attitude.

GOALS OF AN ORGANISTATION

MARKETING MIX

• Marketing has a marketing mix that is made of price, place, promotion, product (known as the four P's), that includes people, processes and physical evidence, when marketing services (known as the seven P's) for customer satisfaction at a Company’s profit.

PRODUCT

• CUSTOMER SOLUTION

PLACE

• CONVENIENCE

PRICE

• COST

PROMOTION

• COMMUNICATION

WHAT IS INTEGRATED MARKETING

COMMUNICATION MIX? Marketing

communications is ‘Promotion' from the marketing mix, Also termed as “Integrated Marketing”.

The practice of blending different elements of the marketing communication mix in mutually reinforcing ways.

Overall Marketing Objectives

Overall Marketing Objectives

Marketing Mix• Product• Place

• Promotion• Price

Marketing Mix• Product• Place

• Promotion• Price

Target MarketTarget Market

Promotional Mix

• Advertising• Public Relations• Sales Promotion• Personal Selling• Direct marketing• Personal selling• Word-of-mouth• Exhibitions

• Promotion Plan

Promotional Mix

• Advertising• Public Relations• Sales Promotion• Personal Selling• Direct marketing• Personal selling• Word-of-mouth• Exhibitions

• Promotion Plan

INTEGRATED MARKETING

COMMUNICATION(IMC)

It includes medium of communicating with your target audience. The marketing communication mix is the heart of the marketing strategy, If business consists of creating value and creating customers.

Improves the company’s ability to reach the right consumer at the right place at the right time with the right message.

what has to be communicated? How a marketer communicates?

INTEGRATED MARKETING COMMUNICATION MIX

• Determine how buyers purchase a particular offering.

• Induce initial purchase• Build selective demand • Create post purchase satisfaction

GOALUnawareness (Increase awareness)

Knowledge(Inform about the product or service)

Create Liking and Preference by building Company Image

Induce Purchase Decision

INTEGRATED MARKETING COMMUNICATION

Informs, persuades and reminds Is part of the marketing mix

(PROMOTION MIX) Includes all the means by which

a company communicates directly with potential customers.

Attempts to influence feelings, beliefs, or behaviour. an opinion or obtain a response.

MARKETING COMMUNICATION :

PURPOSECommunication is necessary to inform

buyers of the following: The availability of an offering The unique benefits of the offering The where and how of obtaining

and using the offering Not only informs, but is also used to

differentiate the seller’s products/services.

Promotional management in terms of strategy development, implementation, and evaluation.

This brings about synergy and better use of communication funds

HOW DOES IT WORK?

• Influence• The

• Influencer

• Product• Innovation

• Brand• Ambassadors

• Referral• Programmes

• Listen to• Feedback

• Measure

Constant ImprovementShared Passion, Vision &

Organization CultureCustomer FocusSpeedExecutionImprovements In Basic

OperationsCommunity Involvement

MARKETING COMMUNICATION

PROCESS

• ADVERTISER• MARKETER

SENDER

• ADVERTISEMENT• ADS

MESSAGE

• FAVOURABLE RESPONSE

RESPONSE

The process by which we exchange or share meanings through a common set of symbols.

The company carefully integrates and coordinates its many communications channels to deliver a clear message.

FACTORS FOR MARKETING

COMMUNICATION MIX

MARKETING

COMMUNICATION

SELECTION

FACTORS

MARKETING

COMMUNICATION

SELECTION

FACTORS

Consumers v/s Business Market

Product Cycle Target market Readiness to buy,

knowledge, liking, preference,

conviction (belief)

FACTORS RESPONSIBLE FOR PROMOTIONAL MIX

PUSH AND PULL STRATEGY

Identifying Target Audience Determining Communications Objectives

– Buyer Readiness Stages Designing Message

– Message Content– Message Structure– Message Format

Media Selection– personal and – non personal communications channels

Message Source Feedback Collection

DEVELOPING EFFECTIVE COMMUNICATION

FOR:

Widely scattered market

Informed buyers

Repeat buyers

AIDA CONCEPT Model that outlines the process for achieving promotional

goals in terms of stages of consumer involvement with the message.

AIDA is a classic marketing/advertising approach, fundamental to all persuasive success.

Cognitive (thinking)

Affective (feeling)

Conative (doing)

LIGHT OF AIDA4 FUNCTIONS OF SOCIAL

MEDIACUSTOMER SERVICE

• Monitor, Reply- Retain Customer

REPEAT BUSINESS

• Offers, Up selling, Cross selling

PR/BRAND MANAGEMENT

• Maintain AID

NEW BUSINESS

• Complete AIDA with purchase

INCENTIVES: HOW TO GET THE PEOPLE TO DO

STUFF?KEY TO DESIR AND ACTION(AIDA)

ATTENTION FAN/FRIEND ENGAGED PURCHASE

COMPETITIVE ADVANTAGE

• Unique features• Unique features

• Excellent service• Excellent service

• Low prices• Low prices

• Rapid delivery• Rapid delivery

• High product quality• High product quality

CATEGORIES OF COMMUNICATION

INTERPERSONAL

COMMUNICATION

MASS COMMUNICATI

ON

DIFFERENT FORMS OF

MARKETING MIX

PRODUCT PLACE PRICE PROMOTIONADVERTISEMENT SALES PROMOTION

PERSONAL SELLING

PUBLICITY

PUBLIC RELATIONSDIRECT MARKETING/ EMARKETING

SPONSORSHIP MERCHANDISING

Publicity & Public Relations

• Press Conference• Special Events• Sponsorship

SBI

Personal Communication

• Customer service• Training• Word of Mouth

Advertisement

• Broadcast • Print • Internet• Outdoor• Direct mail

Sales Promotion

• Prize Promotion

Instructional Material

• Website• Manual

Corporate Design

• Interior decor• Stationery

ADVERTISING Impersonal, one-way mass communication about a

product or organization that is paid for, by a marketer. Can reach a mass audience Introduces products, Increasing Brand Recognition Builds brand image; may stimulate short-term sales

ADVERTISING MEDIA

TRADITIONAL ADVERTISING MEDIA•Television•Radio•Newspapers•Magazines•Books•Direct mail•Posters

NEW ADVERTISING MEDIA

•Internet Marketing•Electronic mail•Interactive video•Through Mobile Devices

MEDIAS OF ADVERTISING

ADVERTISING

ADVANTAGES

• Reach large number of people

• Low cost per contact• Can be micro-targeted

DISADVANTAGES

• Overall cost is high.• One-way Communication.• National reach is expensive for small

companies

Trade Customers

SALES PROMOTION Refers to purchase incentives that

Company provide customer with. Ways in which to create

additional value for customers. Number of forms including

offering : Free goods or services, Coupons and vouchers, Gifts and prizes, discounts, Samples, financial incentives, Buy-One-Get-One-Free Joint promotions between

brands owned by a company

Free samples

Contests

Premiums

Trade Shows

Vacation Giveaways

Coupons

Con-sumer SalesPro-

motion

End Customers

Company Employees

SALES PROMOTION

ADVANTAGES

•Price Discrimination•Effect on Consumer Behavior•Effect on Trade Behavior•Regional Differences

DISADVANTAGES

•Increased Price Sensitivity.•Expensive when not handled properly.•Effect on Quality Image•Merchandising Support from Dealer is doubtful•Short-term Orientation

PERSONAL SELLING

Person-to-Person communication. Process of communicating with a

potential buyer (or buyers) face-to-face with the purpose of selling a product or service.

The salesperson conducts business with the customer in person.

E.g. : Sales presentation, Sales meetings, Incentive program, Samples, Fairs & trade shows.

PERSONAL SELLING

PERSONAL SELLING

ADVANTAGES

•Two-way communication•Target the message specifically•Receive immediate feedback.•Minimum distraction/ clutter•Involvement throughout decision making process•Research Tool

DISADVANTAGES

•Message Inconsistency•Conflict between sales force and Management•High cost•Poor Reach•Ethical Concerns.

PUBLICITY Public information about a company, good,

or service appearing in the mass media as a news item, which is free to the company.

Building good relations with various publics.

Communication mode is indirect and non-personal

Appeal to large public. Different from Advertising as Advertising

buys its way into the media. Publicity is presented as it is “Newsworthy”.

PUBLICITY

ADVANTAGES

•Catches people attention off guard.•Communication to large audience at a time•More Credible than advertising.

DISADVANTAGES

•Impersonal•May not inform the other side of the product that customer wants•Has less control over the message content.•Now-a-days, Cost is involved in Publicity

PUBLIC RELATIONS

The marketing function thatevaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance.

Communication mode is usually indirect and non-personal.

Reaching Large audience is very fast. E.g. : Press kits, Speeches, Seminars,

Annual reports, Charitable donations, Sponsorship, Publications Community relations, Company magazine, Events.

MEDIA

EMPLOYEES

GOVERNMENT

SHAREHOLDERS

COMPETITORS

SUPPLIERS

GENERAL PUBLIC

CUSTOMERS

PUBLIC RELATIONS

PUBLIC RELATIONS

PUBLIC RELATIONS

ADVANTAGES

• Building Credibility.• Holds down promotion Cost• Lead Generation• Ability to reach specific groups• Image building.• Building Awareness• Maintain a positive image• Educate the public about the company’s objectives

DISADVANTAGES

• Potential for not completing Communication Process.• No or Very little Feedback• Conflicts with Marketing Department• Lack of Co-ordination

DIRECT SELLING Enables companies to reach out directly

to consumers without intermediary channels such as those required for advertising.

It includes : Direct mail, catalogs, coupons and inserts, telemarketing, online marketing and television infomercials.

Extremely effective in the long run. Allows for a targeted marketing

approach to specific consumers to create valuable lasting relationships.

Customized, interactive, immediate. E.g. : Catalogs, Mailings, Tele marketing,

Electronic marketing, Shopping, TV shopping.

DIRECT SELLING

ADVANTAGES

•Potential to earn unlimited amount of money.•Initial Cost is fairly cheap•Opportunities to meet new people.•Email potential customers can create a marketing list easily.•Can receive Customer Views.

DISADVANTAGES

•Time consuming Process•Highly Competitive•Hard to find right product that is legitimate online•Hard time to convince people which are expensive than the one available in the market.

WORD OF MOUTH COMMUNICATION An unpaid form of promotion in

which satisfied customers tell other people how much they like a business, product or service.

Word-of-mouth is triggered when a customer experiences something far beyond what was expected.

WORD-OF-MOUTH

ADVANTAGES

• Customers are in control• Great user’s experience.• Web creates permanent Records.• Happy customers refer others and business grows.• Builds long-term customer relationship.

DISADVANTAGES

• Time consuming Process.• Negative word-of-mouth once spread brings customer

dissatisfaction and business does not grow.• Hard core selling to benefit from increased commission is

widely responsible for many potential buyers being put off.

MORE FORMS OF MARKETING

COMMUNICATIONMIX

Following are few more Marketing Communication Mix:

1.Branding(Image and Reputation)2.Merchandising(Point-of-sale)3.Trade Fairs4.Exhibitions.5. Sponsorship

REVIEW OF THE THESE ELEMENTS

MARKETING STRATEGY

Cost Leadership is a competitive Strategy In which a firm succeeds in producing products Or services at the lowest costs in the industry

MARKETING STRATEGY

Differentiation is a competitive strategy in which a firm succeeds by developing and maintaining a unique value for the product as perceived by consumers

ARE BANKS TRULY MARKETING-SAVVY

AND CUSTOMER - CENTRIC?

Better technology leads to

better customer service.

Technology alone does not helps people do.

The larger the range of products,

the more customer-centric

we are.

The range of products has emerged from being competition-centric

Customers need to be educated too…

Launch a product and the customer

will start using instantly.Give a customer a card and he

will learn how to playwith it immediately..

Just advertise and –You will sell.

Advertising will only sell,

Not retain customers.

No difference between

marketing & selling“Selling focuses

on the needs of the seller; marketing on the needs of the buyer”

CONCLUSION

Marketing mix analysis is a fundamental step towards effective strategy. Where other analysis are more related to environment and feasibility analysis, the 4 Ps of marketing including the product itself, pricing, placement and promotion are the four wheels of the vehicle on which the path of an organization's marketing  success is actually dependent.

ANY QUESTIONS?????