IMC 2013 Milestone 1
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IMCrazy: Establishing Objectives and Budgeting for the Promotional Program

IMCrazy: Establishing Objectives and Budgeting for the Promotional Program | IMC 2013 Milestone 1 | Scoop.it

Via Donnnab
Matt West's insight:

This article explains the importance of having a budget when advertising and how to allocate this budget. In most circumstances it is very hard to determine how much an ad is actually worth in dollars. This is because it is hard to know how people will react to the ad. Of course market research can be done but this only goes so far. A marginal analysis can be used to estimate this more clearly but there are still unknowns. A model known as the S-shaped response curve can also aid in estimating how much money to put in to an ad. An S-shaped respone curve shows that as more money is put into an ad, sales should increase after a period of time. If this period gets too long however, the company knows that the ad is unsuccessful. 

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shahd saif's comment, August 22, 2013 3:51 AM
I think in order for any brand to be recognized, they definetley need to set a budget aside for the marketing and advertising. I think without it the brand wont be known. great article Donna!!
May Elizbeth 's comment, August 22, 2013 5:19 AM
Good insight Donna. Very interesting how the author strongly emphasizes the importance of establishing objectives and allocating budgets for the promotional program. well worth a read!
Thomas James's comment, August 22, 2013 6:33 PM
@Matt.Think you are spot on with your view on this article it is essential to allocate a set amount when it comes to advertising. I also found it really interesting looking at the models in this article as it made it that much easier to understand the process in allocation towards a budget when advertising. I have always thought some advertisements spend to much when they already have a customer base established and this articles supports my thoughts.
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Integrated Marketing: Communicating One Big Idea

Integrated Marketing: Communicating One Big Idea | IMC 2013 Milestone 1 | Scoop.it
Integrated Marketing is about communicating one big idea across several media channels with one voice in order to reinforce the brand’s co
Matt West's insight:

This article communicates that the best way to appeal to a consumer and gain their interest is with integrated marketing. I agree with the points that the advertising needs to be convenient, relevant and have a personal aspect in it that the consumer can relate to. I think that this is essential to building brand loyalty and gaining consumer attention. A company that communicates by relating to its customers is going to be successful.  The advice given in the article about keeping your brand’s message consistent and communicating to consumers on a number of different channels, I think, is very useful advice and a recipe for success if done right.

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Abby Sy Roldan's comment, August 20, 2013 5:44 AM
I agree with your views on the article Matt. It is true that advertising needs to be convenient and relevant and it should have a personal aspect in it that consumers can relate to. This type of advertising can help increase awareness and lead to increase of brand loyalty. The message of the brand needs to be consistent through every media the brand is exposed to. This is called integrated marketing and is very useful to create the right message to the consumers if it is effectively integrated well.
Callum Wood's comment, August 21, 2013 5:42 AM
i agree with matt that the best way to appeal to a consumer and gain their interest is with integrated marketing. advertising needs to be relevant and convenient to be effective. ads that effect consumers on a personal level definitely builds brand loyalty and will make that company successful. i also strongly agree that a brand message needs to remain consistent and is a very important ingredient to a recipie for success
Callum Wood's comment, August 21, 2013 9:00 PM
I agree with matt that the best way to appeal to a consumer and gain their interest is with integrated marketing. Advertising needs to be relevant and convenient to be effective. Ads that effect consumers on a personal level definitely builds brand loyalty and will make that company successful. I also strongly believe that a brand message needs to remain consistent and is a very important ingredient to a recipe to success.
Rescooped by Matt West from Public Relations & Social Media Insight
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Instagram registers consumer engagement 18 times that of Facebook: L2 Think Tank - Mobile Marketer - Research

Instagram registers consumer engagement 18 times that of Facebook: L2 Think Tank - Mobile Marketer - Research | IMC 2013 Milestone 1 | Scoop.it

Instagram is becoming a core platform for brands to engage with consumers since it registers consumer engagement 18 times that of Facebook and 48 times that of Twitter, according to the latest report from L2 Think Tank.

 

The "Intelligence Report: Social Platforms" found that the visual component of Instagram has helped the platform grow to 100 million users with the average luxury brand having 100,000 followers. Other visual platforms such as Vine, Pinterest and YouTube have grown significantly and continue to be platforms for brands to deeply engage with consumers.

 

"For all the mindshare that it occupies, social media ultimately drives very little ecommerce, less than 0.25 percent, and site traffic, less than 3 percent, for prestige brands," said Danielle Bailey, research lead L2 Think Tank, New York....


Via Jeff Domansky
Matt West's insight:

This is a prime example of the social network era taking over how brands are perceived and interacted with. The visual aspect really allows consumers to interact instantly with their favourite brands (hense 'Insta'gram). The fact that consumers are being kept up to date with the latest fashions, products and trends that are circulating the globe gives them an incentive to get involved in the brand more than if they saw a new billboard go up or read about it in a magazine that may be slightly out of date. 

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Anna Kong's comment, September 26, 2013 9:31 PM
i agree with you jian wang. this article is very informative, it shows that by engaging with consumers it does help the company with its branding and it also applies for free markets.
oliviachristy's curator insight, October 2, 2014 6:00 PM

Consumers need to be engaged or they will switch off. The implication for marketers being that their messages won't be transmitted. 

Facebook is more content heavy than Instagram, with more opportunities for users to engage; group formation, events, sharing for example. Perhaps that has become their downfall in managing to keep their users engaged.

The more messages we see daily, the more we filter out. Instagram is free from complexity and a bombardment of messages and content. It might be its simple, image based, to the point structure that holds an increasingly impatient publics' attention.

luke sumich's curator insight, October 2, 2014 10:38 PM

Want consumer engagement for a luxury brand? Use Instagram

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Driving Consumer Behavior: Emotion vs. Rationality in Market Research | Imagemme

Driving Consumer Behavior: Emotion vs. Rationality in Market Research | Imagemme | IMC 2013 Milestone 1 | Scoop.it
Matt West's insight:

This article suggests that rational and emotional thoughts are not separate, but intrinsically tied together in the decision making process. I agree with the points about in this day and age of technology, decisions are being needed to be made faster than ever and our gut feeling, evoked experiences and emotional responses are usually a deciding factor in making these decisions. I support the points in the article where it states that good brand communication is the key to getting a positive emotional response from the consumer. Developing strategies to more accurately achieve and read these positive emotional responses is key for knowing what a company needs to improve on for the future. 

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Abby Sy Roldan's comment, August 20, 2013 3:56 AM
@Matt. I agree with your views on the article. Our buying behavior is based emotionally and rationally and not just one of the two. How the brands make us personally feel and our judgements towards the brands. Communication of the brand to the consumer is important to build a positive emotional response from them.
Callum Wood's comment, August 21, 2013 5:20 AM
a very interesting article on the origins of thought and response and how marketing tries to take advantage of this. i agree with you 100 percent that creating good brand communication is the key to creating a positive emotional response.
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Why Brand Building Is Important

Why Brand Building Is Important | IMC 2013 Milestone 1 | Scoop.it
Scott Goodson is the founder of StrawberryFrog. His first book, Uprising exploring Movement Marketing has been published by McGraw Hill.
Matt West's insight:

This article by Scott Goodson explains the importance of branding and brand management for a company. He uses recent examples of major buyouts of companies to show that a successful brand is worth more than all its raw materials combined. The example where Tata bought Jaguar and Range Rover from Ford illustrates this as it states that Ford made $2.56 billion from the sale of these two brands. From an IMC perspective, communication of the brand’s vision and message to the consumer is the key to gaining loyalty and building a successful brand image. Having a strategy is also important. As stated in the article, in this day of social media and technology, smart brands can succeed at low cost if they have the right strategy.

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Abby Sy Roldan's comment, August 20, 2013 7:47 AM
I agree with your statement Matt that using the right IMC strategy to convey the brand message is the key to building and maintaining brand loyalty. This is difficult to do sometimes as the message should be conveyed the same in all media that the brand to project its message. So using the right IMC strategy is very important.
Callum Wood's comment, August 21, 2013 5:47 AM
i completely agree with you matt that the communication of a brand message to its consumer is the key to gaining loyalty and building brand image. a company is definitely worth more than its raw materials, and extra value can be created through brand management.