Group two presentatio nxxxxxxxxxxx
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Transcript of Group two presentatio nxxxxxxxxxxx
GROUP TWO PRESENTATION
• EDWIN MENSAH DARTEY• MICHAEL ADJEI• CORNELIUS DELALI TOHORNU• CHRISTIAN ISAAC MENSAH• AMA MANSA BENTUM• FELIX BEN ARTHUR• SAMUEL ADJEI ESSUMAN• ERNEST ARKOH• LARRY AMOAKO-BOATENG
MARKETING COMMUNICATION
Communication is about the sharing of information Marketing Communication is about bringing to the attention of target customers the availability of products, benefits, uses, features, price etc.
Marketing Communication aims at influencing the customer behaviour towards the marketer’s offering
MARKETING COMMUNICATION CONT’D
The study of marketing communication is the study of one element of the marketing mix-promotion.
Communication should be geared towards the right group of target customers
This is the right way to win the competition and to avoid financial losses
HOW COMMUNICATION WORKS
How Communication work cont’d
Communication is not complete until the receiver understands in the same sense the sender wishes to communicate
The elements of the communication process should be congruent
Incompatibility of the elements is a recipe for communication disaster
How Communication works cont’d
The incongruent forces that affect communication effectiveness is what we refer to as NOISE
How Communication influence the role of promotion in marketing
• The adoption of the promoted products and effecting the desired change in the behaviour of consumers are at the heart of marketing
• Marketers must understand the purchase process before the product is designed
• The AIDA model and the hierarchy of effects models are used in understanding the process
THE PROMOTION MIX
• The promotional elements are:• Advertising • Personal selling• Sales promotion• publicity
Promotional Components
Scope Coat Advantages
Advertising Mass Relatively inexpensive per contact
Allows expressiveness and control over message
Personal selling Personal Expensive per contact
Flexibility immediate response
Sales promotion Mass Can be costly Gains attention and has immediate effect
publicity Mass inexpensive High degree of credibility
Determining the promotional mix
• The use of one or more methods for one product constitute the promotional mix for the product
The determinants of the mix include:• Type of product• Nature of market• Stages of product in its life cycle• Available budget and company policy
The Promotion Budget
The methods for determining the promotion budget are as follows: percentage of sale fixed sum per unit affordable funds competitive parity objective and task method the practice
ADVERTISING AND PUBLICITY
• In modern times advertising prevails in all walks of human lives
• It has acquired the distinction of being the most visible and glamorous method of marketing communication
What is Advertising?
its defined as any paid form of non personal presentation and promotion of ideas, goods or service, marketing and communication.
Functions performed by advertising
• To Inform• To Entertain• To Persuade • To Influence • To Remind• To Reassure and • Add Value to the product or services
How advertising works
• It gets planned and brought into existence• It is reproduced and delivered and exposed to
people• It is received and assimilated• It affects ideas, intentions and attitudes• It affects buying and buying process• It responds to time• It changes sales and profits
Types of Advertising
• Industrial advertising• Consumer advertising• Institutional advertising• Product advertising• Primary demand creating advertising• Selective brand advertising• Direct advertising• Indirect advertising
Role of Advertising
• Advertising affects consumer preference• Advertising affects consumer buying
behaviour• Advertising creates barriers to entry• Creates industrial structure and market power• Advertising affects market performance• Advertising affects market conduct
Advertising Management
• The link of advertising with promotion and marketing objectives of the firm
• Production positioning objective, role of sales force, dealer support plan and buying habits of consumers
Setting Advertising objectives
• Awareness• Comprehension• Conviction• Image• action
Measuring advertising effectiveness
• It can be measured both before and after its release
• By direct rating method• Portfolio test method• Laboratory test method• Recognition test method• Noted• Recall test
PUBLICITY
• It is non personal stimulation of demand for a product, service or business unit by placing commercially significant news about it in the published medium or obtaining favourable presentation of its upon radio, television or stage that is not paid for by the sponsor.
Use of Publicity
• Disseminate information regarding new products
• Warranty terms• Product replacement policies• Customer service arrangements• New R & D findings