Marketing Communication Strategies
What is Marketing Communication?
Process of informing, reminding, and persuading the consumers about a particular product or service.
Comprises communications mix of an organization.
Instrumental in influencing the purchase decision of the consumer.
Integrated Marketing Communication:
Catching up with your customer
Tells About:
How To Compete
How To Survive
Building and reinforcing mutually profitable relationships with customers, consumers, prospects, other stakeholders and the general public by developing and coordinating a strategic communications program that enables them to make constructive contact with the company & brand though a variety of media.
Importance of communication strategies:
Help the companies to propagate information in a structured and controlled manner
Details the structure of information flow, the correct audience to address, potential vehicles to carry the message
Form the blueprint to build a campaign to inform
Expedite the flow of information in sudden, unfolding, but structured events
Help you to plan communication with your target audience, the stakeholders, and your colleagues.
The IMC Mix:
Advertizing
Publicity/Public Relations
Sales Promotion
Personal Selling
Direct Marketing
Advertising:
Defined as-
Paid, non-personal communication and Controlled, identifiable information and persuasion by means of the mass communication media.
The primary goal – to provide a “reason why” they should buy a product or service.
Television
Newspaper / Magazines
Radio
IMC
Advertising
PR
Personal Selling
direct marketing
Sales Promotion
Internet
Direct Mail
Billboards
Yellow Pages
Selection of Media:
Reach: Percentage of people exposed to ad
Frequency: Number of times a person is exposed to ad
Media Impact: The qualitative value of a message exposure through a given medium.
Models of Communication Strategies:
Two Basic models:
4-Cell Model
6-Cell Model
Complex Buying Behavior:
High value brand or product
Requires extensive collection of data
Based on facts and figures
Comparison
Analysis and Choice
Habitual Buying Behavior:
Low consumer involvement in buying
Consumer buys a product out of habit
Buying of cheap frequently purchased items
Few significant brand differences
Considerable brand loyalty based on high customer satisfaction with previous purchases of the brand
Little perceived difference between available offerings and no other incentive.
Postpurchase Dissonance Reassurance:
Expensive product purchase
Infrequent buying and less experience of product
High buyer involvement in purchase
Perception of high-risk purchase
Few perceived differences in brands
Reassurance by using some leadership advantage
Variety Seeking Buying Behavior:
Individual likes to shop around and experiment with different products
Low consumer involvement in purchase
Significant perceived brand differences
Consumers willing to try diversity of brands for variety and to avoid boredom
6-Cell Model:
Extensive Problem Solving Buying Behavior:
Buying situations which require considerable effort because the buyer has had no previous experience with the product or suppliers; also called Extensive Decision Making
Message must feature performance and economic benefits
Full and detailed information.
Sensual BuyingLimited Problem
Solving
Routine Problem Solving
Impulse buying behavior
Extensive Problem Solving
Image Buying Behavior
Limited Problem Solving Buying Behavior:
Purchaser has had some previous experience but is unfamiliar with suppliers, product options, prices, etc
A choice process involving a moderate degree of cognitive and behavioral effort
A purchase involves some degree of conscious information searching and analysis
Involves moderately high priced goods which are not purchased too frequently
Emphasis on USP of a product.
Routine Problem Solving:
A buying situation in which the buyer has had considerable past experience.
Also called Automatic Response Behavior or Habitual Response Behavior.
Habit is determinant.
Various Discounts given.
Image Buying Behavior:
Expensive products.
Products represents personality and lifestyle.
Status symbol.
Promotional strategy emphasizes on rich lifestyle of consumer.
Sensual Buying Behavior:
Desire for pleasure
Convey pleasure sensually
E.g: Perfumes, Exotic Scotch, fair and lovely.
Impulsive Buying Behavior:
Seeing is buying
Spontaneous See and Buy decisions
Communication must use creative idea to attract customers through display, posters
Less emphasis on factual information