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PLANNING A B2B MARKETING CHANNEL STRATEGY • Channel design • Channel coverage
• Intensive • Selective • Exclusive
• Channel management decisions • Selecting suitable channel partners • Managing and motivating channel partners • Evaluating channel partners
• Remember to complete the activities in your guide
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SECTION 6
Integrated Marketing Communication
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INTRODUCTION
• A basic function of marketing has always been to act as a link between the company and its customers
• Marketing communication is part of this link between the retail marketer and potential buyers or other marketing channel partners
• Marketing communication can be described as the voice of marketing, which informs consumers about the existence of a business and its products and services
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THE PROMOTION MIX
• A company’s total promotion mix (also called its marketing communications mix) consists of:
• The blend of advertising, public relations, personal selling, sales promotion and direct and digital marketing tools that the company uses to persuasively communicate customer value and build customer relationships
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THE NATURE AND IMPORTANCE OF INTEGRATED MARKETING COMMUNICATIONS • In the traditional model of mass marketing,
companies designed, produced and promoted standardised market offerings to masses of customers
• Mass marketing strategies relied on mass-media communications techniques to support these strategies
• The emergence of modern micro-marketing has confronted marketing managers with several new marketing communications realities
• There are several factors contributing to the changing face of marketing communications
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THE NATURE AND IMPORTANCE OF INTEGRATED MARKETING COMMUNICATIONS
• New marketing communications realities • Consumers are better informed and more
communications empowered • Marketing strategies are changing • Profound advances in communications
technology • Traditional media not dead yet • Answer the questions in your guide on the
promotional mix elements
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DEVELOPING AN IMC PROGRAMME
• Step 1: Identify the target audience • Step 2: Determine the communication
objectives • Step 3: Design a message • Step 4: Choose the media through which to
send the message • Step 5: Select the message source • Step 6: Collect feedback • Remember to complete the activity on the
elements of an IMC programme
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SIX BUYER READINESS STAGES
1. Awareness 2. Knowledge 3. Liking 4. Preference 5. Conviction 6. Purchase These stages are important when determining the communication objectives
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AIDA MODEL
• Attention • Interest • Desire • Action The model is used when designing message for IMC.
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MARKETING COMMUNICATION IN BUSINESS MARKETS • As we have seen, there are major differences
between business markets and consumer markets • There are also similarities • The promotion mix is also used by business
marketers and consumer marketers • There are differences in emphasis and focus on
specific elements of the promotion mix • Business marketers prefer using push promotional
strategies; while consumer marketers favour pull promotion strategies
• Answer the questions in your guide – Microsoft case study
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SECTION 7
Bringing it all Together: Organisational and Marketing Strategy
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INTRODUCTION
Strategy can be defined as the match between what a company can do (organisational strengths and weaknesses) within the universe of what it might do”(environmental opportunities and threats)
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STRATEGIC MANAGEMENT TERMINOLOGY AND CONCEPTS
• “A strategy is the overall plan guiding a firm. It influences the firm’s business activities and its response to market forces, such as competition and the economy” (Berman and Evans, 2013:40)
• Closely related to strategy, are the concepts of strategic planning and strategic management
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STRATEGIC MANAGEMENT TERMINOLOGY AND CONCEPTS • Strategic management can be defined as “the
art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives” (David, 2013:35)
• Strategic planning can be defined as “the process of proactively aligning the organisation’s resources (internal environment) with threats and opportunities caused in the external environment” (Smit et al, 2011:84)
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THE STRATEGIC MANAGEMENT PROCESS
• At its most basic level, strategic management is concerned with finding answers to four questions:
• Where are we now? • Where do we want to be? • How do we get there? • How can we ensure arrival?
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THE STRATEGIC MANAGEMENT PROCESS
• The strategic management process involves three phases:
• Strategy formulation — strategies are developed
• Strategy implementation — strategies are put into action
• Strategy evaluation — strategies are measured to determine their success
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THE STRATEGIC MANAGEMENT PROCESS
• Strategy formulation • Vision • Mission • Strategic objectives • Environmental analysis • Situational analysis • Craft a strategy to achieve the objectives
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THE STRATEGIC MANAGEMENT PROCESS
• Strategy implementation • In this phase, the (overall) strategic plan is
implemented • The organisation's structure, systems and
culture might have to change so that they align to the new organisational strategy
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THE STRATEGIC MANAGEMENT PROCESS
• Strategy evaluation • The third and final phase of strategic
management actually consists of two phases • Control phase • Feedback phase
• Refer to the research activity in your guide (business situational analy
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FROM CORPORATE STRATEGY TO MARKETING STRATEGY
• The third and final step in phase 1 of the strategic management process (figure 15) involves crafting an overall, detailed strategy at the corporate level of a retail firm
• We will now discuss how to design a competitive marketing strategy aligned with the company’s overall (corporate) strategy
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FROM CORPORATE STRATEGY TO MARKETING STRATEGY • Identifying and analysing competitors
• Whom are we competing against • Assessing competitors • Selecting which competitors to attack and which
to avoid • Competitive strategies
• Approaches to marketing strategies • Basic competitive strategies
• Overall cost leadership • Differentiation • Focus
• Competitive positions
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PURPOSE AND CONTENT OF A MARKETING PLAN
• Through strategic planning, the company decides what it wants to do with each business unit
• Marketing planning (in turn) involves choosing marketing strategies that will help the company attain its overall strategic objectives
• A detailed marketing plan would eventually be developed for each business, product, or brand
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MAJOR ELEMENTS OF A MARKETING PLAN
• A marketing plan involves the design and implementation of activities related to the marketing objectives of the company as part of its overall strategic objectives
• It becomes the guide (or roadmap) for all marketing activities, covering all the sections discussed in this module and more
• As a written document, the marketing plan contains several strategic elements that cut across departments and functions, also involving a range of cross-functional personnel in a company
•
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MAJOR ELEMENTS OF A MARKETING PLAN
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MAJOR ELEMENTS OF A MARKETING PLAN
• Marketing objectives • SMART
• Target market and positioning strategy • Marketing mix
• Product • Price • Promotion • Place
• Implementation, evaluation and control • The focus of control • The retail audit as a control tool • Characteristics of an effective control system
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MARKETING ETHICS AND SUSTAINABILITY
• Sustainability and responsibility • Ethics, sustainability and responsibility are closely
related concepts • As society’s ethical awareness grows, the
commitment by corporates to be good citizens of the country (and the world) has also grown
• The marketing concept, as a business philosophy, means that businesses are part of the society in which they operate and are therefore responsible to that society
• They have a social responsibility to act in good faith and according to the law
• For ethically responsible marketers displaying social responsibility is a fundamental way of doing business
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MARKETING ETHICS AND SUSTAINABILITY
• Corporate social responsibility refers to the responsibility of a company to ensure that it:
• Produces only products that are safe for human consumption
• Manages itself responsibly, to the benefit of its employees and society
• Contributes to the sustainable utilisation of the natural environment
• Contributes to the up liftment and development of disadvantaged people
• Manages itself according to the moral, ethical, and legal frameworks and rules of society
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MARKETING ETHICS AND SUSTAINABILITY
• Not all marketers follow the marketing concept. In fact, some companies use questionable marketing practices that serve their own interests
• The need to balance short-term needs with long-term interests
• Did you remember to complete all the activities in this unit?
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Thank you
