Milestone One
17 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Rescooped by Lauren Southgate from Emotion Marketing
Scoop.it!

Determining a Budget - Integrated Marketing Communication

Determining a Budget - Integrated Marketing Communication | Milestone One | Scoop.it
Boundless' free textbooks and study tools makes education more affordable, accessible, and effective for students and professors.

Via 록시, Luis M. C. Sobral
Lauren Southgate's insight:

This article highlights the importance of marketing budgets for planning actual operations of a business. Businesses must control their resources, communicate with, motivate and evaluate the performance of managers and provide the company's performance with visibility, which is all achieved through budgeting. Budgeting is affected by marketing plans. This article also says that businesses must consider the components of IMC when they are determining a marketing budget. 

more...
Norman Vaz's curator insight, August 22, 2013 9:49 PM

This article focuse on how for IMC to take place you need to firstly have the budget to do just so. Hence budgeting is very important in establishing what IMC method you will be using or what different methods may need more funding. It forces managers to take a more hands on approach in making sure the allocation of funds planning and managing the right IMC method is key in having a successful marketing campaign for your product. 

 

Elle's comment, September 24, 2013 3:56 AM
Cameron - the article clearly define the essential purposes of budgeting and explores how marketing plans affects the budget. This seems relatively useful and would benefit businesses if they kept these in mind when making decisions.
Linda Huynh's comment, September 26, 2013 2:07 PM
@Chen Sun, a great article on the importance of budgeting, that is clearly defined with the essential purposes and how the budgets can be affected through marketing plans. This article is useful for businesses and should really read this as well and help them in decision making.
Scooped by Lauren Southgate
Scoop.it!

Never Forget the Power of Integrated Marketing

Never Forget the Power of Integrated Marketing | Milestone One | Scoop.it

Marketers need to ensure that they've created multiple opportunities for engagement with their brand.

 

The key takeaway for marketers is that you need to ensure that you've created multiple opportunities for engagement with your brand. You need to build a relationship with your audience. You can't always just take tactics at their face-value and their individual contribution - you have to look at the contribution to the success of other tactics, and how all of these tactics work together to drive success.

 

Ultimately this culminates in two recommendations:

Ensure your marketing strategy takes an integrated, holistic approach that is designed with multiple consumer touch points.Ensure you have the right measurement strategy in place in order to measure not only the individual contribution, but the combined impact of your tactics.

May the power of integrated marketing be with you!

Lauren Southgate's insight:

It is important for businesses to understand that integrated marketing is far more valuable and effective, rather than sticking to just one marketing tactic. The article states that different consumers respond to different forms of marketing and so there is a need for more than one marketing tactic. Particularly in respect to digital marketing, each individual tactic works with each other to create an impact on consumers. It is also important that customers receive ongoing communication from businesses and a number of opportunitites for consumers to engage with the brand.  

more...
James Kim's comment, August 21, 2013 3:30 AM
I totally agree with your insight statement, where the article has mentioned that different consumers respond to different forms of marketing and so there is a need for more than one marketing tactic. Also with a backing up example you have pointed out that each individual tactic works with each other to create an impact on consumers. By this more and more consumers will engage with the brand and receive ongoing communication from the business, also it will increase the number of opportunities
Wan jin Ko's comment, August 22, 2013 2:30 AM
The article clearly explain about integrated marketing. Integrated marketing is more effective than other marketing tactics. I agree with the opinion that business need to process more than one marketing tactic because consumers's response are different and various. In addition, the business should provide marketing strategy with integrated, holistic approach and right measurement in the strategy that designed with multiple consumer touch points.
Will Costello's curator insight, August 22, 2013 10:03 PM

This article articulates the importance of integrated marketing in a business. Integrated marketing incorporates a wide range of extremely valuable aspects of business and marketing.  Julie Batten uses the analogy of building a piece of furniture. With basic tools such as wood, nails and a hammer you are able to make a chair, but it wont necessarily be very comfortable, or stable. You cannot use one tactic to fulfill the potential reach, as it is highly important that you incorporate all sides of the dice in order to maximize the value of your marketing. The article reiterates the idea of creating opportunity for consumer engagement with your marketing communication, rather than relying on face value.

Rescooped by Lauren Southgate from R'Tish Creations
Scoop.it!

Brand Management By Numbers

Brand Management By Numbers | Milestone One | Scoop.it

Let us start by putting in perspective the grand rules for business and brand success; brands management is based on strategic planning and implementation. The strength or success of any brand or business is directly a function of the operating strategic input.  That explains why ideal corporate persons engage top end executives to develop winning strategies.

 

A strategy is an overall approach towards achieving identified goals or objective. It focuses on the articulate interpretation of extraneous values-influencers, controllable and otherwise, in relations to own-strengths and weaknesses. Strategy evolution for brands and businesses is based on proper understanding of the broader context operative in the business environment of interest.  A strategy is directive, instructive and rewarding.

 

Competitive engagement for businesses and brands start with evolving the strategic option with the most advantageous competitive advantages.  Business executives begin with a careful and scientific analysis of the businessenvironment and conditions operative in the chosen industry. Key, therefore, is the underlying logic that a company’s strategic options are bounded by the environment.

 

 


Via Russ Merz, Ph.D., Letitia Owens
Lauren Southgate's insight:

This article is very helpful in explaining the conponents of brand management. According to this particular article, brand management is based on strategic planning and how it is carried out. Strategy is extremely important because it drives differentiation for competitive advantage, and ultimately, business and brand success. 

 

The article also places importance on the fact that brand management is challenged by identifying differences amongst competitors, which in turn, comes back to the implementation of strategic planning. 

more...
Ashleigh Brockett's comment, August 21, 2013 11:38 PM
I think this article is great as it covers both brand management and the components of brand management, which overall makes it easy to understand. I agree that brands management is based on strategic planning and implementation, these are two very important components when managing a brand. I also agree with Janessas comment that brands that are lazy about researching is one of the failures within the brand. If they research what the consumers want they maintain brand recognition and profitable brand equity.
Wan jin Ko's comment, August 22, 2013 4:00 AM
I agree with you Lauren, this article is helpful and interesting. It explains about the component of brand management with different approach to the term Brand Management. I believe that there are definitely correlation between brand management and strategy. So should be consider components when managing a brand and the article emphasises and explains about it efficiently.
Max Downing-Webb's comment, August 22, 2013 6:01 AM
This article demonstrates that brand management is about strategy. Branding is one of, if not the biggest and most visible components of an organisation. Branding should be managed strategically because of this, and the value is represents to an organisation. It would be foolish not include strategy in brand management therefore this article has some good insights. Good stuff Kim
Rescooped by Lauren Southgate from CityLife MOBILE - Convenience Store Coupon Strategies
Scoop.it!

Convenience store owners should expect to embrace new technology and a fresh set of rules for communicating with today’s consumers

Convenience store owners should expect to embrace new technology and a fresh set of rules for communicating with today’s consumers | Milestone One | Scoop.it

A year that witnessed a whirlwind of technological advancements proved that retail is all about change. The best retailers are embracing that change and diversifying their technology investments in order to stay competitive.

 

From the way consumers connect to the Internet, get daily information and pay for products, the future is here. Convenience store retailers that fail to accept these emerging trends will find themselves looking up at their competition.


Via CityLifeMobile
Lauren Southgate's insight:

The world's technoogy is constantly developing and companies are taking advantage of the numerous opportunities the technological advancements are creating. It is important that companies, even ones as small as convenience stores, keep up with theses advancements in order to stay competitive in the market. The article claims that customers will be able to check the freshness of food, and pay via mobile are a crucial distinguishing factor between competitors. The new technology trends will also lets retailers have access to inforrmation about their customers they would otherwise be without. 

more...
James Kim's comment, August 21, 2013 3:44 AM
It is true that the technology nowadays have constantly developed and still developing as we speak, but companies taking advantage of the numerous opportunities in the technological advancements is considered to be looked into because as the article said it is crucial distinguishing factor between competitors shows that out in the business, marketing world so on is in a struggle by challenging between companies to companies comparing which are better. Frankly, this may lead to better success in any business but at the same time it can be a great loss in either side.
Wan jin Ko's comment, August 21, 2013 8:50 AM
I agree with this article. Using a technology for marketing and promotion became more popular nowadays because the technology has developed and still developing very quickly. So to don't get left behind, business use the new technology. however it creates revitalize competition between businesses and it may creates negative effects. The author explained through example of convenience store. So should consider with it because it may gives good effects in business but also it can make a loos to them in a same time.
Rescooped by Lauren Southgate from MarketingHits
Scoop.it!

4 simple steps to improve consumer engagement

4 simple steps to improve consumer engagement | Milestone One | Scoop.it

Brands that don't understand online behavior engage with consumers at the worst times. Here's when customers are ready to shop and how to best connect with them.

 

Brands live and die by their ability to understand and target consumer behaviors. When digital marketing strategies align with consumer online shopping behaviors, it's a major accomplishment for brands eager to capture their share of the digital marketplace.

 

The catch is that marketers often base digital spend on assumptions and perceived consumer behavior rather than the actual ways consumers interact with brands online. As a result, investments designed to improve consumer engagement -- email promotions, social media interactions, mobile spend -- frequently miss the mark, compromising the brand's ability to connect with the right consumers at the right times.

 

The misalignment of brands and consumers is even more relevant during the holiday shopping season. For instance, a recent study showed that half of consumers are influenced by social media when making online purchases, but only 8 percent of Facebook campaigns and 4 percent of Twitter campaigns focus on money-saving promotions. Unless big brands effectively calibrate their marketing strategies to align with actual consumer behaviors, it's unlikely that they will be able to achieve holiday sales targets -- not to mention sales goals for the rest of the year.

 

Continue Reading .... 


Via Brian Yanish - MarketingHits.com
Lauren Southgate's insight:

This article is really helpful for understanding ways in which businesses can improve consumer engagement. The author places importance on firms understanding their consumers' behavior when it comes to online activity. It is suggested that the best ways to improve consumer engagement is to have the right timing, and to leverage mobile platforms for promotion. 

more...
Joly Yuan's curator insight, September 26, 2013 10:37 AM

This article is mainly about specific consumer engagement, referring to the online retailers. The article states how to improve consumer engagement when digital marketing strategies align with consumer online shopping behaviors. It is suggested that the best ways to improve consumer engagement is to have the right timing with the right consumers. Then the author indicates that there are four useful steps to improving consumer engagement. Firstly, it is better to start early to promote specials, discounts, and exclusive offers to consumers. Secondly, bands need to segment their consumer, and send more frequent and urgent messaging to reminder audiences to shop with us. Thirdly, the marketers should understand when the right time for consumer online shopping. Lastly, marketers should interact with the consumer on mobile more frequently. In my opinion, this article is really helpful for understanding ways in which businesses can improve consumer engagement.

Kimberley Mar's curator insight, March 18, 2014 7:10 AM

This article reinforces the importance of improving consumer engagement for a brand. The survival of a brand is based on understanding and targeting consumer behaviour, which are vital to comprehend in order to maximize your brand's potential. For instance, online brands need to align their digital marketing strategies with consumer online shopping behaviours in order to capture a share of the digital market place. In order to do so, marketers need to understand the 'actual' ways consumers interact rather than make assumptions or perceptions of consumer behaviour. From this article I have extracted 4 concepts that a company could perform in order to improve their ability to engage with consumers via online channels of marketing: 1) Start Early, in relation to emailing promotions and including free shipping options, discounts and exclusive offers which will drive purchase decisions. 2) Segment Audience, by targeting shoppers with frequent and  urgent messages that have deadlines for offers in order to avoid message fatigue. 3) Consider Timing, relates to the release of the promotional material at specific times of the day when consumers are most likely to be online. By understanding these consumer buying patterns, marketers are able to establish a system that will release promotional materials at peek hours. 4) Leverage Mobile, will take advantage of the constant use of the mobile phone by enabling consumers to view messaging and interact with the brand via online platforms accessed via their mobile. High levels of consumer engagement are vital for the survival of a brand and once achieved, allows for comprehensive and consistent marketing strategies to be implicated. In conclusion, by aligning digital channel promotions with the real-world consumers behaviours, in the long term result in increased return of investment and establish strategies that deliver results. 

Shichi Zhong's curator insight, May 14, 2014 12:21 AM

Good article and very clear points. It mentioned that social media is now a very important tool to develop consumer engagement. I agree with this opinion, most people now choose online shopping rather than go to the physical stores. This is actually a marketing change from physical to online model. If companies want to improve consumer engagement they should pay more attention to social media area and online sale model. This is the future marketing key element. The author talk about 4 steps to improve consumer engagement,  these steps can truly help marketers to develop the market well via social media tools and therefore gain the consumers