MKTG1001 Lecture Notes - Lecture 8: Product Differentiation, Guerrilla Marketing, Crisis Management
Document Summary
Mktg1001 lecture 8 promotion mix: advertising, public relations, personal selling & sales promotion. Companies must do more than just create customer value. Use promotion to communicate that value clearly & persuasively. Promotion represents a major expense for most organisations (some medians are cheaper) Accountability is a central feature of all promotional planning & implementation. With all promotional tools, management should begin by setting objectives, developing coherent plans, integrating plans with other elements of the marketing program & carefully thinking about how to measure promotional outcomes. Marketers need to understand how communication works. Centre is the brand, then target market is our customers. Major communication tools are the message (what do we want to tell our customers about our brand) & the media. Sender [encode] message, media [decode] targeted segment. Targeted segment then gives feedback to sender. Encode lots of benefits to communicate, how to structure? (the best way to say it, depends on positioning)
