Midsemester Exam Notes for Integrated Marketing Communications

2 Found helpful • 31 Pages • Complete Study Notes • Year: Pre-2021

CH1: Introduction to Integrated Marketing Communications The growth of Advertising and Promotion • Advertising and other promotional methods develop carefully prepared messages to target audiences has given them a major role in the marketing programs of most organisations What is Marketing? • Process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives Marketing Focuses on Exchange • Informing consumers of an organisation’s product or services and convincing them of its ability to satisfy their needs or wants • Not all marketing transaction involved exchanges money for a tangible product or service e.g. charities, religious groups Relationship Marketing • Creating, maintaining, and enhancing long-term relationships with individual customers as well as other stakeholders for mutual benefit • Factors: − Superior customer values: quality products and services, competitively priced, convenient, delivered on time, support with excellent customer service − Mass customisation: make a product or deliver a services in response to a particular customer’s needs in a cost-effective way • It is over more cost-effective to retain customers than to acquire new one The marketing mix • Combining these four elements “P’s” into a marketing program to facilitate the potential for exchange with consumers in the marketing place

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