السبت، 16 مايو 2009

Everything about marketing Part2

ELEMENTS OF THE GLOBAL MARKETING MIX
The “Four P’s” of marketing: product, price, placement, and promotion are all affected as a company moves through the five evolutionary phases to become a global company. Ultimately, at the global marketing level, a company trying to speak with one voice is faced with many challenges when creating a worldwide marketing plan. Unless a company holds the same position against its competition in all markets (market leader, low cost, etc.) it is impossible to launch identical marketing plans worldwide. (Kotabe & Helsen, pp.17-18)
PRODUCT
A global company is one that can create a single product and only have to tweak elements for different markets. For example, Coca-cola uses two formulas (one with sugar, one with corn syrup) for all markets. The product packaging in every country incorporates the contour bottle design and the dynamic ribbon in some way, shape, or form. However, the bottle or can also includes the country’s native language and is the same size as other beverage bottles or cans in that country. (Kotabe & Helsen, pp.17-18)
Price
Price will always vary from market to market. Price is affected by many variables: cost of product development (produced locally or imported), cost of ingredients, cost of delivery (transportation, tariffs, etc.), and much more. Additionally, the product’s position in relation to the competition influences the ultimate profit margin. Whether this product is considered the high-end, expensive choice, the economical, low-cost choice, or something in-between helps determine the price point. (Kotabe & Helsen, pp.17-18)
Placement
How the product is distributed is also a country-by-country decision influenced by how the competition is being offered to the target market. Using Coca-Cola as an example again, not all cultures use vending machines. In the United States, beverages are sold by the pallet via warehouse stores. In India, this is not an option. Placement decisions must also consider the product’s position in the market place. For example, a high-end product would not want to be distributed via a “dollar store” in the United States. Conversely, a product promoted as the low-cost option in France would find limited success in a pricey boutique. (Kotabe & Helsen, pp.17-18)
Promotion
After product research, development and creation, promotion (specifically advertising) is generally the largest line item in a global company’s marketing budget. At this stage of a company’s development, integrated marketing is the goal. The global corporation seeks to reduce costs, minimize redundancies in personnel and work, maximize speed of implementation, and to speak with one voice. If the goal of a global company is to send the same message worldwide, then delivering that message in a relevant, engaging, and cost-effective way is the challenge. (Young, pp.127-136)
Effective global advertising techniques do exist. The key is testing advertising ideas using a marketing research system proven to provide results that can be compared across countries. The ability to identify which elements or moments of an ad are contributing to that success is how economies of scale are maximized. Market research measures such as Flow of Attention, Flow of Emotion and branding moments provide insights into what is working in an ad in any country because the measures are based on visual, not verbal, elements of the ad. (Young, p.131)
INTEGRATED MARKETING COMMUNICATION
Definition
The American Marketing Association suggests that integrated marketing communications (IMC) is “a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time.” [http://www.marketingpower.com/mg-dictionary-view1569.php Marketing Power Dictiona Integrated marketing communication can be defined as a holistic approach to promote buying and selling in the digital economy. This concept includes many online and offline marketing channels. Online marketing channels include any e-marketing campaigns or programs, from search engine optimization (SEO), pay-per-click, affiliate, email, banner to latest web related channels for webinar, blog, RSS, podcast, and Internet TV. Offline marketing channels are traditional print (newspaper, magazine), mail order, public relation, billboard, radio, and television.
Goal of Integrated Marketing Communication
A management concept that is designed to make all aspects of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation. In practice, the goal of IMC is to create and sustain a single look or message in all elements of a marketing campaign. Practitioners such as the Oct Group, however, remind clients that IMC should “permeate every planned and unplanned communication at every contact point where the customer or prospect may receive an impression of the company. IMC incorporates the corporate mission, the compensation plan, the management style, and the employee training. It includes packaging, positioning, promotions, pricing, and distribution.” A successful integrated marketing communication plan will customize what is needed for the client based on time, budget and resources to reach target or goals. Small business can start an integrated marketing communication plan on a small budget using a website, email and SEO. Large corporation can start an integrated marketing communication plan on a large budget using print, mail order, radio, TV plus many other online ad campaigns.
Reasons For The Growing Importance of IMC
There have been many shifts in the advertising and media industry that have caused IMC to develop into a primary strategy for most advertisers.
7 main shifts
From media advertising to multiple forms of communication (including promotions, product placements, mailers...)
From mass media to more specialized media, which are centered around specific target audiences.
From a manufacturer-dominated market to a retailer-dominated market. The market control has transfered into the consumer's hands.
From general-focus advertising and marketing to data-based marketing.
From low agency accountability to greater agency accountability. Agencies now play a larger role in advertising than ever before.
From traditional compensation to performance-based compensation. This encourages people to do better because they are rewarded for the increase in sales or benefits they cause to the company.
From limited Internet access to widespread Internet availability. This means that people can not only have access to what they want 24/7 but that advertisers can also target different people 24 hours a day.
Obstacles to Integrated Marketing Communication
Roles of Individual Media
This goal may appear simple but, for companies with different teams of people working on each element of the campaign, it can be a challenge to create effective advertising for all media using the same images and messages. Tactically, most marketers think the goal of each medium is different. For example, television ads are generally used for awareness generation, print to educate, and outdoor and radio to keep the message top-of-mind. In reality, the goal of all advertising, including packaging, is to sell. (Young, 2006)
Identifying Best Marketing Elements
The biggest difficulty IMC marketers face is summed up by Chuck Young of Ameritest, “Even though the different elements in a campaign are designed to work together, that does not mean that all the creative executions will work equally well.” This obstacle can be overcome by using advertising to identify the images and messages that will work best across media platforms. Marketers cannot compare a banner ad’s click-through rate to a print ad’s eye-tracking data to a TV commercial’s branded attention score. Therefore, it is important the ad research system provides performance metrics that make it easy for ad managers to make comparisons across media platforms. (Young, 2006)
Solution: Market Research
The overlapping metrics are attention, branding, and motivation. An effective ad must capture the attention of the audience; it must be well branded so the consumer properly attributes the message only to the sponsor’s product or service; and it must motivate the consumer to move closer to the sale.
To see what additional metrics are important to each type of media, see Image 1 of this article.
Formula for Selecting Most Effective Marketing Elements
The goal of researching the elements of proposed integrated marketing communications is to create a campaign that is effective across media platforms. Some marketers may want only ads with the greatest breadth of appeal: the executions that, when combined, provide the greatest number of attention-getting, branded, and motivational moments. Others may only want ads with the greatest depth of appeal: the ads with the greatest number of attention-getting, branding, and motivational points within each.
But, just as media buyers multiply reach by frequency to get a measure of the net effectiveness of a media buy, a calculation can be used in IMC research to determine, when comparing campaigns, which combination would be most effective. By multiplying breadth of appeal times the depth of appeal, the more impact-full campaign is identified. Integrated Testing for Integrated Marketing PDF Campaign 2, in Image 2, is the clear winner using this simple calculation.(See exhibit 3 of the above Integrated Marketing PDF.)
Although integrated marketing communications is more than just the ad campaign, the bulk of marketing dollars is spent on the creation and distribution of the advertisements. Hence, the bulk of the research budget is also spent on these elements of the campaign. Once the key marketing pieces have been tested, the researched elements can then be applied to other contact points: letterhead, packaging, trucks, customer service representative training, and more, to complete the IMC cycle.
Some other creative marketing communication methods include: social marketing and green marketing may enhance or facilitate the marketing process of building relationship among stakeholders (customers, employees, suppliers, partners, communities, shareholders).
MOBILE MARKETING
Mobile Marketing can refer to one of two categories of marketing. First, and relatively new, is meant to describe marketing on or with a mobile device, such as a mobile phone. Second, and a more traditional definition, is meant to describe marketing in a moving fashion - for example - technology road shows or moving billboards.
Marketing on a mobile phone has become increasingly popular ever since the rise of SMS (Short Message Service) in the early 2000s in Europe and some parts of Asia when businesses started to collect mobile phone numbers and send off wanted (or unwanted) content.
Over the past few years SMS has become a legitimate advertising channel. This is due to the fact that unlike email over the public internet, the carrier who police their own networks have set guidelines and best practices for the mobile media industry (including mobile advertising). The IAB (Interactive Advertising Bureau) and the MMA (Mobile Marketing Association), as well, has established guidelines and evangelizing the use of the mobile channel for marketers.
Mobile Marketing via SMS has expanded rapidly in Europe and Asia as a new channel to reach the consumer. SMS initially received negative media coverage in many parts of Europe for being a new form of spam as some advertisers purchased lists and sent unsolicited content to consumer's phones; however, as guidelines are put in place by the mobile operators, SMS has become the most popular branch of the Mobile Marketing industry with several 100 million advertising SMS sent out every month in Europe alone.
In North America the first cross-carrier SMS shortcode campaign was run by Labatt Brewing Company in 2002. Over the past few years mobile short codes have been increasingly popular as a new channel to communicate to the mobile consumer. Brands have begun to treat the mobile shortcode as a mobile domain name allowing the consumer to text message the brand at an event, in store and off any traditional media.
SMS services typically run off a short code, but sending text messages to an email address is another methodology. Short codes are 5 or 6 digit numbers that have been assigned by all the mobile operators in a given country for the use of brand campaign and other consumer services. The mobile operators vet every application before provisioning and monitor the service to make sure it does not diverge from its original service description.
One key criterion for provisioning is that the consumer opts in to the service. The mobile operators demand a double opt in from the consumer and the ability for the consumer to opt out of the service at any time by sending the word STOP via SMS. These guidelines are established in the MMA Consumer Best Practices Guidelines which are followed by all mobile marketers in the United States. The guidelines can be accessed at www.mmaglobal.com
Mobile Marketing via MMS
Brands are delivering promotional content such as mobile music to mobile games to drive consumer engagement. This mobile content is delivered via MMS (Multimedia Message Service). Brands are also leveraging consumer generated content.
A good example of this is Motorola's ongoing campaigns at House of Blues venues where the brand allows the consumer to send their mobile photos to the LED board in real-time as well as blog their images online.
Mobile Marketing via Bluetooth
The rise of Bluetooth started around 2003 and a few companies in Europe have started establishing successful businesses. Most of these businesses offer "Hotspot-Systems" which consist of some kind of content-management system with a Bluetooth distribution function. This technology has the advantages that it is permission-based, has higher transfer speeds and is also a radio-based technology and can therefore not be billed (i.e. is free of charge).
Mobile Marketing via Infrared
Infrared is the oldest and most limited form of Mobile Marketing. Some European companies have experimented with "shopping window marketing" via free Infrared waves in the late 90s. However, Infrared has a very limited range (~ approx. 10cm - 1meter) and could never really establish itself as a leading Mobile Marketing technology.
Location Based Services
Location-based services (LBS) are offered by some cell phone networks as a way to send custom advertising and other information to cell-phone subscribers based on their current location. The cell-phone service provider gets the location from a GPS chip built into the phone, or using radiolocation and trilateration based on the signal-strength of the closest cell-phone towers (for phones without GPS features). In the UK, networks do not use trilateration; LBS services use a single base station, with a 'radius' of inaccuracy, to determine a phone's location.
User Controlled Media
Mobile marketing differs from most other forms of marketing communication in that it is often user (consumer) initiated, called Mobile Originated (or MO) message, and requires the express consent of the consumer to receive future communications. A call delivered from a server (business) to a user (consumer) is similarly called a Mobile Terminated (or MT) message. This infrastructure points to a trend set by mobile marketing of consumer controlled marketing communications. See also Push-Pull strategy and smartreply on the nature of mobile marketing in practice by business.
SELLING TECHNIQUE
Selling technique is the body of methods used in the profession of sales, also often called personal selling. Techniques in use in selling interviews vary from the highly customer centric consultative selling to the heavily pressured "hard close".
All techniques borrow a bit from experience and mix in a bit of guesswork on the psychology of what motivates others to buy something offered to them. Mastery in the techniques of selling can offer very high incomes, while failure in it is nearly proverbial. Coverage of the latter is popularized in the Arthur Miller play Death of a Salesman.
Because selling faces a high level of rejection, it is often difficult for the practitioner to handle emotionally, and is usually cited as the most common reason for leaving the profession. Because of this many selling and sales training techniques involve a lot of motivational material.
Prospecting
Referrals
Qualifying
Presentation
Questions
Selling the sizzle
Closing
Pre-closing questions
Tie downs
Handling objections
Confidence
Empathy
Reading people

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