[MUSIC] Hello, companys must allocate their marketing communication budget over the 8 major modes of communication, advertising, sales promotion, public relations and publicity, events and experiences, guided marketing, interactive marketing, word of mouth marketing and the sales force. Within the same industry, companies can differ considerably in the media and channel choice. The main characteristics of the marketing communication mix are the following depending on each of the media. In advertising, reaches geographically dispersed buyers, it can build up a long term image for your product and trigger quick sales. The main characteristics are, pervasiveness, permits the seller to repeat a message many times. Amplify expressiveness because itprovides opportunities for dramatizing the company and its products through the artful use of print, sound and color, and the impersonality the audience does not feel all right to pay attention or respond. Regarding sales promotion, it's used to draw a stronger and quicker by a response. It offers three benefits, communication, gaining attention and it may lead the consumer to buy the product, incentive. They incorporate some concession, inducement, or contribution that gives value to the consumer. And finally, invitation, they include a distinct invitation to engage in the transaction now. Regarding public relations and publicity, it is usually under used. A well thought out program coordinated with the other communication mix elements can be extremely effective especially if a company needs to challenge consumer's misconceptions. For example, Dove. They prefer a peer campaign to boost consumer confidence for their body acceptance, and it was very successful. The distinctive qualities are high credibility, news stories and features are more authentic and credible to readers than advertisements. The ability to catch buyers off guard can reach prospects who prefer to avoid sells people an advertising. And finally dramatization has the potential for dramatizing a company or product. Events and experiences. The main advantage is relevance. A well chosen event or experience can be seen as highly relevant because the consumer gets personally involved. Of course, involvement. Now, given that they are live, not real time. They do engage the consumer a lot. And finally, implicitness is an indirect soft sell. If we talk about direct and interactive marketing, it takes many forms over the phone, online, or in person. This type of marketing messages are customized, can be prepared to appeal to be addressed to individuals, they are up to date, can be prepared very quickly and finally, interactive, it can be changed depending on the person's response. If we talk our word of mouth marketing it also takes many forms, online, offline. The main characteristics are credible, because people trust others they know and respect can be highly influential. Personal, can be a very intimate dialogue that reflects personal facts, opinions, and experiences. And finally, it's timely. It occurs when people want it and when they are more interested. And finally, the personal selling. It's the most effective tool at later stages of the buying process. Particularly in building up buyer preferences - conviction and action. The main qualities are personal interaction creates an immediate and interactive relation between two or more people. And each party is able to observe the other's reaction. Cultivation, permits all kinds of relationships to spring up. And finally, response. The buyer feels under some obligation following the sales talk. Companies must consider several factors in developing their marketing communication mix. Type of product, market, buyer readiness stage, and product life cycle. So we start by talking about the type of product market. Communication makes a location vary between consumer and business market. Consumer's marketers tend to spend more on sales promotion and advertising and business marketers more on personal selling. In general, personal selling is use more with complex, expensive, and risky goods and in markets with fewer and larger sellers. Personal selling can also make a strong contribution in consumer goods marketing. An effectively trained company salesforce can make a full, important contribution, can increase a stock option, can persuade dealers to take more stock and devote more shelf space of the company's brand. Second, this enthusiasm building. They can build enthusiasm by dramatizing, plan advertising and search promotion backup. They really have a missionary selling, can sign up with more dealers. And finally, there is the role of the Key Account Management, can take responsibility of growing a business with the most important account. A second factor in developing marketing communication is the Buyer Readiness Stage. Communication tools vary in cost effectiveness, a different status of the buyer readiness. So advertising and publicity play the most important roles in the awareness building stage. When we are talking about customer comprehension, it's primarily affected by advertising and personal selling. We mentioned customer conviction is more influensive by personal selling. And finally, closing the sale is influenced. Mostly by personal selling and sales promotion and reordering is also affected mostly by personal selling, sales promotion and a reminder of advertising. A third factor is the product life cycle stage. Communication tools also vary in cost effectiveness at different stages of the product life cycle. In the introduction stage of advertising, events and experiences and publicity have the highest cost-effectiveness. Followed by the personal selling to gain distribution coverage and sales promotion and direct marketing to induce trial. In the growth state, demand has its own momentum through word of mouth. In the maturity stage, advertising events and experiences and personal selling, all become important. And in the decline stage, sales promotion continues strong, all the tools are reduced, and sales people give the product only minimal attention. Once we have decided the media mix, we need to insure an integrated marketing communication, we will cover this challenge in the coming class. [MUSIC]
