There are two factors that are changing the face of today’s marketing communications . First, as mass marketers have fragmented, marketers are shifting away from mass marketing . Second, Vast improvements in information technology are speeding the movement towards segmented marketing .
Changes In Consumers , Changes In Marketing Strategies, And Sweeping Changes
Companies must consider several factors in developing their communications mix: type of product market , consumer readiness to make a purchase and stage in the product life cycle. Also important is the company’s market rank.
The Marcom Process It has two parties (sender and receiver), four functions (encoding, decoding, response, and feedback), and two communication tools (message and media). Anything that distorts the intended message is called noise.
The 4 Ps of marketing are product, price, place and promotion . All four of these elements combine to make a successful marketing strategy. Promotion looks to communicate the company’s message across to the consumer. The four main tools of promotion are advertising, sales promotion , public relation and direct marketing .
Integrated Marketing Communications ( IMC ) is a strategic, collaborative, and promotional marketing function where a targeted audience receives consistent and persuasive brand messaging through various marketing channels in an integrated way to move buyer’s through the decision making process.
Companies consider several factors when they allocate the communications budget , including the market size and potential, market share objectives, product market type, product life-cycle stage, and buyer-readiness stage.
Factors Affecting Promotion Mix – 5 Major Factors : Nature of the Product, Nature of the Customer, Product Life Cycle, Availability of Funds and a Few Others. The promotion mix is an assortment of the four tools of marketing, i.e., personal selling, sales promotion , advertising and public relations.
Integrated Marketing Communication ( IMC ) is the application of consistent brand messaging across both traditional and non-traditional marketing channels and using different promotional[disambiguation needed] methods to reinforce each other.
Terms in this set (7) Instrumental. Used to ask for something. Regulatory. Used to give directions & direct others. Interactional. Used to interact & converse with others in a social manner. Personal. Used to express a state of mind or feelings about something. Heuristic. Imaginative. Informative.
The Four Communication Functions There are four functions : regulation or control, social interaction, motivation, and information.
Jakobson’s model of the functions of language distinguishes six elements, or factors of communication , that are necessary for communication to occur: (1) context, (2) addresser (sender), (3) addressee (receiver), (4) contact, (5) common code and ( 6 ) message.