Com365 week 2
- 1. Components
- 2. Paid media Advertiser has complete control of the message None of the usual gatekeepers
- 3. Traditional Mobile Promotion Sponsorships and event marketing Product placement Packaging Trade shows and fairs Personal selling Buzz marketing
- 4. Mass media (newspapers, magazines, broadcast radio, TV, books, movies, the Internet) Social media (Facebook, YouTube, MySpace, Twitter, Ning) Personal media (mobile apps, texts, voicemail, email, podcasts) Direct media (telemarketing, mail and email solicitations)
- 5. “Communication management” in Europe Involves either internal channels or external channels Attempts to deliver specific messages to specific groups Interconnected with advertising and journalism Each communication field disseminates information differently
- 6. Strategic online public relations are interactive and uncontrolled Advertising vs. editorial Considerations: ◦ Who owns today’s media channels? ◦ How much does ownership matter in an era of fragmented audiences?
- 7. Corporate objectives identify the desired level of profit / margin that the organization seeks to achieve. The corporate strategy for doing this includes: 1. Which products and which markets (marketing department) 2. What facilities are required (operations department) 3. The number and character of employees (personnel department) 4. What funding is required (finance department) 5. Social responsibility, corporate image (other internal departments)
- 8. Gap analysis explores the shortfall between the corporate objective and what can be achieved by various strategies. Operations gap can be filled by reducing costs, improving sales mix, increasing market share. Strategy gap can be filled by finding new user groups, entering new segments, geographical expansion, new product development, diversification.
- 9. Marketing objectives are concerned with what is sold (products) and to whom it is sold (market). There are four possible combinations of products and markets 1. New markets 2. Existing markets 3. New products 4. Existing products
- 10. Existing Market / Existing Product (A) Existing Market / New Product (B) New Market / Existing Product (C) New Market / New Product (D) Four Suggested Categories of Objectives A= Market penetration B= Product development C= Market extension D= diversification
- 11. Three Elements of a Marketing Objective The attribute chosen for measurement (sales, market share) The particular value selected (ex., 25% of market share) For a given operating period (ex., By the end of year three …)