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IMCrazy: Establishing Objectives and Budgeting for the Promotional Program

IMCrazy: Establishing Objectives and Budgeting for the Promotional Program | Milestone 1 | Scoop.it
MARTIN LEE's insight:

[PROGRAM PLANNING, OBJECTIVES, BUDGETS, MEASURING SUCCESS] Great article that discusses the importance of planning, setting objectives, and budgets in relation to marketing projects. The author states that objectives should be quantifiable, realistic, and attainable. The article then talks about the primary role in IMC being the effective communication of a brands knowledge and interest, favourable attitudes, and purchase intentions. Objectives serve important functions as communications devices, as a guide to planning the IMC program,  deciding on various alternatives, and for measurement and evaluation. The article also discusses a sales response model to illustrate budgeting approaches such as Return on Investment, and Bottom-Up Budgeting. The article also contains the concept of DAGMAR (defining advertising goals for measured advertising results).

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Calvin Romeo's comment, August 21, 2013 5:26 AM
This is a great article that you have found that stresses the importance of effective planning and in this situation it provides a guideline for putting together a well though out promotional program. One of the key factors with planning is that organizers must have a clear budget and this article provides few examples of different methods of budgeting such as top-down budgeting and bottom up budgeting. Another key factor is that organizers must be aware off is setting realistic targets that can be achieved throughout each different step of this process. Finally what I also like about this article is that they provide us with an understanding in terms off the usefulness of ‘Advertising’ and the benefits it provides to a company or product.
Kier Segui's comment, August 21, 2013 9:36 PM
This article sums up the importance of planning and budgeting in a promotional program. The article starts off by making a statement that says "Does it really matter what we spend on advertising". I believe that it does matter because there would be no point in spending money on irrelevant aspects of the project. This is where having objectives comes in. Any good program plan will start off with a set of objectives that act as a guideline for the actual program. These objectives can be used for the budget so that when creating an advertisement, we know exactly where to put the money in order to achieve our objectives.
Kevin yau's comment, August 22, 2013 5:50 AM
@Sienna Jang
I think how you describe the difference between marketing objective and IMC objective is very clear. And i think it is true that whichever company provide more information to customers, that company will get more offers. Also i think objective and budgeting they can't be separated, companies have to think about the objective then start planning the budget.
Rescooped by MARTIN LEE from Web site & Social Media Marketing
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7 Rules of Integrated Marketing Communications

7 Rules of Integrated Marketing Communications | Milestone 1 | Scoop.it
Integrated Marketing Communications is a Marketing Technique that makes sure that all of your sales, marketing and prootional approaches and communications have been carefully linked with one another to execute your overall marketing strategy....

Via GrupoNeo
MARTIN LEE's insight:

[UNDERSTANDING INTEGRATION] Realising the participants involved in the Integrated Marketing Communications process is an important step in creating an efficient chain. The main participants include; marketers, advertising agencies, media organisations, marketing communications specialist organisations, and collateral services. Using a decentralised or centralised structure each have their advantages and disadvantages. Companies need to therefore look at their processes and construct clear aims and goals to help maximise the efficiency gained from their structures. This article establishes the importance of management input and setting clear goals. It also stresses the importance of building relationships and the benefits that it can create. The importance of understanding all this can create a seamless interaction between all the processes and the final product will be all the better for it. The article implies there are 7 golden rules that need to be followed but are strictly a guideline.

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Patience's curator insight, October 1, 2014 10:41 PM

The 7 rules are quite important for building a good brand awareness. 

Patience's curator insight, October 2, 2014 9:13 PM

these rules are very important to manage IMC program.

Patience's curator insight, October 2, 2014 9:15 PM

These rules are very important to manage IMC program.

Rescooped by MARTIN LEE from Integrated Marketing Communications | IMC
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6 Small Steps to Improve the Customer Journey Online

6 Small Steps to Improve the Customer Journey Online | Milestone 1 | Scoop.it

If you thought social media would make the website obsolete, think again. In fact, digital media has only reinforced the need for websites. However, thanks to savvy consumers and users, the demand for better websites has never been greater. In lieu of massive redesigns and costly overhauls, there are a few things digital managers can do to ensure their website is consistently meeting their users needs.

 

Small Things Can Make a Big Difference Online

Recently, Tjeerd Brenninkmeijer wrote about the need for more responsive experiences, not more responsive pages, saying 

…now that consumers will experience content across any number of social, mobile and web channels — the goal should be to think about the customer, their engagement journey and what kind of content they need/want at each stage in each context.

To help facilitate effective customer journeys online, it's necessary to "optimize things like layout, message priority, language, contextual versions of content, personalization and (yes) even design based on the attributes of the particular visitor in real time." 

 


Via Russ Merz, Ph.D., IMCyclopedia.com
MARTIN LEE's insight:

[CONSUMER ENGAGEMENT] Consumer engagement is important because a product must have characteristics that match the specifics of what the consumer wants to purchase. Part of what the consumer is buying is the personal buying experience, it is the whole package. Looking "Outside-in" is a customer-oriented approach to create consistency and efficiency within marketing communications. This article is relevant because it discusses the effectiveness of having better options as opposed to having more options when it comes to product customization. The article stresses that small visual details such as language, layout, context, and personalization can create big differences online. The article implies that without these important components, it can be difficult for companies to engage consumers with their marketing communication.

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Calvin Romeo's comment, August 18, 2013 4:54 AM
I also think that consumer engagement is extremely important if not vital for business/products to match or identity characteristics that they believe potential consumer might be interested in so that they would consider purchasing those products. This article also states that having in a sense dull campaigns would not attract to many consumers and such as language, layout, and context could all have serious implications.
Kier Segui's comment, August 20, 2013 6:51 AM
Consumer engagement is important in marketing. This is because when a consumer purchases a product they are not just buying the physical product but the experience that comes with it. This article outlines the importance of online marketers meeting the needs and expectations of their consumers. After all the consumer will be buying the product but the experience of going through the process prior to the purchase will influence their views on the brand of the product. In this case a website that is easy to navigate through provides for a user-friendly experience that will make consumers appreciate the experience.
Rescooped by MARTIN LEE from Business Brainpower with the Human Touch
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The End Of Rational Vs. Emotional: How Both Logic And Feeling Play Key Roles In Marketing And Decision Making

The End Of Rational Vs. Emotional: How Both Logic And Feeling Play Key Roles In Marketing And Decision Making | Milestone 1 | Scoop.it

 

One of the longest-running debates in marketing is whether to use a rational or emotional advertising approach in marketing--but cognitive science says that argument is pointless. While emotions overwhelmingly drive behavior, it is misguided to believe that thinking and feeling are somehow mutually exclusive. Emotion and logic are intertwined.

 

Behavioral science is now telling us that we don’t really have “free will.” We have “free won’t.” We can give in to the visceral impulses that drive us or choose to apply the brakes of rational restraint. While we can’t choose our emotions because they originate unconsciously, we can choose our conscious response to our feelings. This is essentially what consciousness is--a series of critical reflections and interpretations about how we are feeling.


Via The Learning Factor
MARTIN LEE's insight:

[COMMUNICATING WITH CONSUMERS: THE RESPONSE OF EMOTIONAL RESPONSES] Marketers attempt to engage potential consumers when sending a message to them via the many different channels available, including verbal, graphic, musical, and animation channels. High commonality is when the sender experience and the receiver experience overlap. This article discusses the problem of choosing to go for a rational or emotional approach to marketing. The article also talks about reacting to logical interpretations at the expense of emotions, and that creativity can suffer as a result. A Dyson vacuum cleaner is used as an example in the article to illustrate that a logical reason must be present to satisfy the critical mind, giving you logical permission to make a purchase. So yes, emotional responses are extremely important in the communication process but is only a link in the chain.

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Calvin Romeo's comment, August 21, 2013 4:04 AM
I think this a good article you have found that tackles a highly contested debate in the marketing environment as to what type of marketing is better rational or emotional marketing when it comes to gaining consumer attention. As the article suggests I do believe that both emotion and rational advertisements are intertwined to help a consumer make their decision on whether or not to purchase a particular product. From my personal experience when it comes to buying products sometimes I purely makes decisions based on emotion on how I feel about a particular product even if I know logically there might be a slightly better product out there. Eg iPhone over Samsung or PlayStation over Xbox.
Kier Segui's comment, August 21, 2013 9:29 PM
It has been often said that marketers should either target the logical side of a consumer or the emotional side, suggesting that each is independent. In reality however, this article states that both logic and emotion are "intertwined", which means that they both contribute to the reasoning of a person. The insights of this article is very good as it tells the idea that we as consumers act accordingly through our logic and the way our emotions are affected. For example, Dyson vacuums, created a vacuum with a clear plastic cover that shows the dirt being picked up. In the emotional sense we would find it disgusting to see but in logical sense we are able to see that our carpets are actually being cleaned and just how much dirt the vacuum is picking up. In a way this article identifies that both emotions and logic can work together to make a product, brand or advertisement more successful.
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Search, Social Media Important Indicators of Branding Effectiveness

Search, Social Media Important Indicators of Branding Effectiveness | Milestone 1 | Scoop.it

Michael McVeigh, senior vice president of strategic services for digital marketing agency Zeta Interactive, spoke with eMarketer about some of the trends he's witnessing in branding usage and measurement, and explained the importance of search and social media for brand marketers.

MARTIN LEE's insight:

[BRANDS AND BRAND MANAGEMENT: THE IMPORTANCE OF BRANDING] Developing and sustaining a strong brand identity and equity is something that all companies need to invest heavily into. With the technological advances we face, searching online in search engines and information gathering on social media sites is becoming a large part of brand identity. A brand is a perception resulting from experiences with, and information about, a company or a line of products. This article brings up the importance of marketing teams that focus on search engine marketing (SEM) and search engine optimization (SEO). These are important because when consumers want to know more about something or experience something, they search for it, on Google, or on YouTube. Gaining real estate on search engine results pages is a tool marketers use to increase brand exposure. Social media can be used effectively in brand perception and communicating initiatives a company is using, or perhaps as a means to control negative feedback and answer consumer questions. This article interview is insightful in that it helps to answer, to an extent, whether can we put a monetary value on how many "likes" something has received?

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Calvin Romeo's comment, August 19, 2013 5:27 AM
Branding is a huge part of business these days. Brand recognition plays a huge part on how successful a business will be in their market, that’s why businesses tend to spend millions trying to create a strong brand that will be retained in consumer’s memory as the above insight states. This article is useful as it provide a insight from an industry processional on the importance of branding and the presence of brand identity in social media networks and how a strong presence on these networks could help create a strong brand identity.
Kier Segui's comment, August 21, 2013 9:19 PM
Branding is a very important when it comes to business. The way a brand stands out will define how well the company will do. Having a brand that is well recognized and promotes qualities that consumers look for will have an advantage in the market. This article states the importance of brands through the use of search engines. It is stated that when people want to know more about something, a product or a video they will in most cases go to a search engine, such as Google, and navigate there way to the information they want. In saying this, search engine marketing (SEM) and search engine optimization (SEO) are very important mediums of advertising and therefore should not be overlooked. With all the results that come from search engines, it is vital that a brand stands out from its competitors and this reinforces the importance of branding.
Cen Xun's comment, August 22, 2013 7:12 PM
this article is quite useful!!! as the digital age, customer could get thousands of information through one click, so how to use social media to build brand awareness and brand loyalty is quite important !! this article told us how social media becomes so important for the branding and business,