how might biblical principles affect the selling strategies that a business might use?

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xelb2019

Business Finance

BUSN 240

Regent University

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Respond to the following dialogue question and post your responses in the dialogue area for this week:

From what you learned in chapters 13 and 15 and what you know from Scripture, present biblical principles related to promotion of products and services. In addition, how might biblical principles affect the selling strategies that a business might use?

Essentials of Marketing, 15thEdition (Boston: McGraw-Hill Irwin, 2017), William D. Perreault, Jr., Joseph P. Cannon, E. Jerome McCarthy, (ISBN 9781259573538).

200 - 300 words

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Chapter 13 Promotion– Introduction to Integrated Marketing Communication Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. At the end of this presentation, you should be able to: 1. know the advantages and disadvantages of the promotion methods a marketing manager can use in strategy planning. 2. understand the integrated marketing communications concept and why firms use a blend of different promotion methods. 3. understand the importance of promotion objectives. 4. know how the traditional communication process affects promotion planning. 5. understand how customer-initiated interactive communication is different. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 13-2 At the end of this presentation, you should be able to: 6. know how typical promotion plans are blended to get an extra push from wholesalers and retailers, as well as help from customers in pulling products through the channel. 7. understand how promotion blends typically vary over the adoption curve and product life cycle. 8. understand how to determine how much to spend on promotion efforts. 9. understand important new terms. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 13-3 Promotion and Marketing Strategy Planning (Exhibit 13-1) CH 13: Promotion Intro to Integrated Marketing Communications Promotion methods 13-4 CH 14: Personal Selling and Customer Service Managing promotion CH 15: Advertising, Publicity, & Sales Promotion Effective communication CH 16: Publicity: Promotion Using Owned, Earned, and Social Media Blending promotion Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Personal selling—flexibility is its strength 13-5 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Several Promotion Methods Are Available Personal Selling Mass Selling Different Methods of Promotion Advertising Publicity Sales Promotion 13-6 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Someone Must Plan, Integrate, and Manage the Promotion Blend Advertising Managers Sales Managers Integrated Marketing Communications Marketing Managers 13-7 Sales Promotion Managers Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Which Method to Use Depends on Promotion Objectives Informing Persuading Reminding 13-8 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Reminding May Be Enough Click on play button to view video 13-9 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Objectives drive promotion 13-10 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Relation of Promotion Objectives, Adoption Process, and AIDA Model(Exhibit 13-2) Promotion Objectives Informing Persuading Reminding 13-11 { Adoption Process Awareness AIDA Model Interest Evaluation Interest Trial Decision Attention } } Confirmation Desire Action Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. The Traditional Communication Process (Exhibit 13-3) Feedback Source Encoding Noise Message channel Decoding Receiver 13-12 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. This Same Message May Be Interpreted Differently(Exhibit 13-4) Encoder Common frame of reference Decoder 13-13 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Checking Your Knowledge Ron Popeil has been a pioneer in the use of directresponse television “infomercials.” Over the years his infomercials have promoted many products, including the Showtime Rotisserie Barbecue, a food dehydrating machine, and the world-famous “Veg-O-Matic.” The chief advantage of the infomercial is that it provides plenty of time to describe and demonstrate a product’s benefits in detail. The choice of the infomercial is related mainly to the _________ element of the communication process. A. B. C. D. E. message channel encoding decoding feedback noise Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 13-14 Encoding and Decoding Click on play button to view video 13-15 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Feedback Integrated Directresponse Promotion Targeted Directresponse Promotion Outbound Promotion Model 13-16 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. A Model of Customer-Initiated Interactive Communication (Exhibit 13-5) Receiver (customer) Source’s message Select a topic 13-17 Search Noise Message channel Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Ethical Issues in Promotion Source credibility Promotion frequently dances on ethical boundaries Exaggerated claims Invading consumer privacy 13-18 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Pushing in the Channel Focuses Promotion at Intermediaries (Exhibit 13-6) Producer’s promotion blend Personal selling, sales promotion, advertising, and publicity Promotion to channel members Promotion to business customers Wholesalers’ promotion push Wholesalers’ promotion push Promotion to final customers Retailers’ promotion push Business customers request (pull) product 13-19 Customers Final consumers request (pull) product Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. An Example of Pushing and Pulling 13-20 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Checking Your Knowledge Fido, Inc. is a producer of dog food and is getting ready to introduce a new brand. The firm’s marketing research department learns that a competitor is planning to launch another brand about two weeks after Fido’s launch. Fido’s marketing department quickly mails a set of dated coupons to several thousand consumers in a purchased database of dog owners, encouraging them to ask for the new Fido brand in their favorite store and to stock up on the new brand using the coupons. This is an example of: A. B. C. D. E. pulling. noise. pushing. encoding. decoding. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 13-21 Percent adoption The Adoption Curve (Exhibit 13-7) Innovators (3–5%) Early adopters (10–15%) Early majority (34%) Late majority (34%) Laggards or nonadopters (5–16%) 90 50 20 5 Time 13-22 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Opinion Leaders Matter 13-23 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Stimulating Adoption of an Image Click on play button to view video 13-24 Copyright © 2017 McGraw-Hill Education. rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. © 2012 All McGraw-Hill Companies, Inc., McGraw-Hill/Irwin Promotion Varies Over the Life Cycle “This new idea is good” 13-25 “Our brand is best” “Our brand is better, really” Reminder: “Stick with our brand.” Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Setting the Promotion Budget Percentage of Sales Task Method 13-26 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Key Terms 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 13-27 promotion personal selling mass selling advertising publicity sales promotion sales managers advertising managers public relations sales promotion managers 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. integrated marketing communications AIDA model communication process source receiver noise encoding decoding message channel pushing Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Key Terms 21. pulling 22. adoption curve 23. innovators 24. early adopters 25. early majority 26. late majority 27. laggards 28. nonadopters 29. primary demand 30. selective demand 31. task method 13-28 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 15 Advertising, Publicity, and Sales Promotion Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. At the end of this presentation, you should be able to: 1. recognize the importance of advertising in the economy 2. understand why a marketing manager sets specific objectives to guide the advertising effort. 3. understand when the various kinds of advertising are needed. 4. understand how to choose the “best” medium. 5. understand the main ways that digital advertising differs from advertising in other media. 6. understand how to plan the "best" message—that is, the copy thrust. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 15-2 At the end of this presentation, you should be able to: 7. understand what advertising agencies do. 8. describe the challenges and methods used to measure advertising effectiveness. 9. understand how to advertise legally. 10.understand the importance and nature of sales promotion. 11.know the advantages and limitations of different types of sales promotion. 12.understand important new terms. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 15-3 Strategy Planning, Advertising, & Sales Promotion (Exhibit 15-1) CH 13: Promotion Intro to Integrated Marketing Communications Advertising spending 15-4 CH 14: Personal Selling and Customer Service Strategy decisions CH 15: Advertising, Publicity, & Sales Promotion Advertising & the law CH 16: Publicity: Promotion Using Owned, Earned, and Social Media Sales promotion Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. International Dimensions Are Important 15-5 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Advertising Spending as Percent of Sales for Illustrative Product Categories (Exhibit 15-2) 15-6 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Advertising Spending as Percent of Sales for Illustrative Product Categories (Exhibit 15-2) 15-7 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. The Decision to Position a New Product Click on play button to view video 15-8 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Setting Ad Objectives is a Strategy Decision Position Brands Introduce New Products Obtain Outlets Ongoing Contact Advertising Objectives Should Be Specific Support Sales Force Get Immediate Action Maintain Relationships 15-9 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. What’s the Advertising Objective? Click on play button to view video 15-10 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Examples of Different Types of Advertising over Adoption Process Stages(Exhibit 15-3) • • • • • Awareness Interest Teaser campaigns Pioneering ads Jingles/slogans Viral advertising Announcements • Informative or descriptive ads • Image/celebrity ads • Search ads • E-mail ads • Demonstration of benefits Confirmation • Reminder ads • Informative “why” ads 15-11 • • • • • Evaluation and Trial Competitive ads Persuasive copy Comparative ads Testimonials Search ads Decision • Direct-action retail ads • Point-of-purchase ads • Price deal offers Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Coordinating Advertising Across the Channel to Achieve Objectives Advertising Allowances 15-12 Key Issues Cooperative Advertising Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Types of Advertising (Exhibit 15-4) Types of Advertising Product Advertising Pioneering Advertising 15-13 Competitive Advertising Institutional Advertising Reminder Advertising Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Competitive Advertising 15-14 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Institutional Advertising – Remember Our Name Focuses on Name and Prestige of a Company Informs, Persuades, or Reminds Develops Goodwill 15-15 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Checking Your Knowledge A television ad for Target encourages consumers to go to their nearest Target store for a big end-of-season sale coming up in two weeks. This type of advertising is: A. B. C. D. E. pioneering. reminder. indirect competitive. direct competitive. institutional. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 15-16 Checking Your Knowledge Community Bank sends an advertisement via direct mail to several thousand customers, quoting special low financing rates on new vehicles for a limited time only. The ad names some other financial institutions and shows their respective loan rates. Community Bank promises to beat any rate offered for a comparable term. This type of advertising is: A. B. C. D. E. pioneering. indirect competitive. comparative. reminder. institutional. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 15-17 Choosing the “Best” Medium – How To Deliver the Message Promotion Objectives Target Market Characteristics Funds Available Nature of the Media 15-18 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. An Emphasis on Targeting Traditional Media Are More Targeted Direct Mail Has Grown Key Issues “Must Buys” May Use Up Funds 15-19 Specialized Media Are Gaining Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Estimated U.S. Ad Spending, Percent Growth, and Advantages and Disadvantages of Major Advertising Media (Exhibit 15-5) Media Television & cable 2015 Ad Spending (billions) 70.6 % Change 201518 Advantages Disadvantages -4.3 Demos, image building, good attention, wide reach, cable selective “Clutter”—ads compete for attention, expensive Hard to compare costs with other media Digital Desktop 32.0 -35.5 Ads link to more website, “pay for results,” trackable results, highly targeted Digital Mobile 26.5 88.6 Same as above, plus location based Same as above -17.4 Flexible, timely, local market, covers a lot in geographic area “Clutter”—ads compete for attention, poor photo quality News papers 15-20 16.3 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Estimated U.S. Ad Spending, Percent Growth, and Advantages and Disadvantages of Major Advertising Media (Exhibit 15-5) Media Radio Magazine Outdoor & cinema Directory 15-21 2015 Ad spending. (billions) 15.5 15.0 7.4 5.9 % Change 2015-18 Advantages Disadvantages -13.4 Wide reach, low cost segmented audience, sound and voices create “image” Weak attention, many different rates, short exposure, listenes cannot review the ad -12.7 Involved readers , very targeted, good detail & “pass along” Inflexible, long lead times, cost can be high -7.7 Captive audience, can be geographic and local Glance medium; younger audience for cinema -25.8 Reaches local customers ready to buy, inexpensive Many competitors listed in same place, hard to differentiate Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Digital Advertising Direct Response Desired Advertisers Know Your Location Banner ads Key Issues Big Data Behavioral Targeting 15-22 Facebook and Google “Know” Pay Per Click Advertising Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Planning the Best Message— What to Communicate 15-23 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Planning the Best Message Example Click on play button to view video 15-24 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. AIDA – Attention, Interest, Desire, and Action Get Attention Hold Interest Arouse Desire Obtain Action Can Global Messages Work? 15-25 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Checking Your Knowledge A famous athlete is featured in a commercial for a pain-relieving rub that can help soothe muscle aches and pains. He says, “If it works for me, it’ll surely work for you.” This testimonial is mainly aimed at the _________ stage of the AIDA model. A. B. C. D. E. attention interest desire action confirmation Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 15-26 A Unique Selling Proposition Click on play button to view video 15-27 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Advertising Agencies Often Do the Work Specialists Advertising Agencies Big agencies do most of the work Ethical issues in advertising agencies 15-28 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Measuring Advertising Effectiveness Is Not Easy Success Depends on the Total Marketing Mix Research and Testing May Improve Odds Hindsight May Lead to Foresight 15-29 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Is native advertising ethical? 15-30 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Research and testing can improve the odds 15-31 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. How to Avoid Unfair Advertising 15-32 Government May Say What’s Fair FTC Controls Unfair Practices Support for Claims Is Fuzzy Standards Are Changing Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Example of Sales Promotion Activities (Exhibit 15-7) Aimed at final consumers or users Contests Coupons Aisle displays Samples Trade shows Point-of-purchase materials • Banners and streamers • Frequent buyer programs • Sponsored events • • • • • • 15-33 Aimed at wholesalers or retailers • Price deals • Promotion allowances • Sales contests • Calendars • Gifts • Trade shows • Meetings • Catalogs • Merchandising aids • Videos Aimed at company’s own sales force • • • • • • • Contests Bonuses Meetings Portfolios Displays Sales aids Training materials Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Some Possible Effects of a Sales Promotion on Sales (Exhibit 15-8) Time Sales temporarily increase, then decrease, then return to regular level 15-34 Period of promotion Unit Sales Period of promotion Unit Sales Unit Sales Period of promotion Time Sales temporarily increase and then return to regular level Time Sales increase and then remain at higher level Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Challenges in Managing Sales Promotion 15-35 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Problems in Managing Sales Promotion Erodes Brand Loyalty Need for Alternatives Key Problems Not for Amateurs 15-36 Hard to Manage Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Different Types of Sales Promotion for Different Targets 15-37 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Key Terms 1. 2. 3. 4. 5. 6. 7. 8. 9. 15-38 advertising agencies advertising allowances advertising media comparative advertising competitive advertising cooperative advertising copy thrust corrective advertising direct competitive advertising 10. 11. 12. 13. 14. 15. 16. indirect competitive advertising institutional advertising pay-per-click pioneering advertising product advertising reminder advertising retargeting Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 16 Publicity: Promotion Using Earned Media, Owned Media, and Social Media Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. At the end of this presentation, you should be able to: 1. explain how publicity fits into the promotion blend. 2. understand the differences between paid, earned, and owned media. 3. explain how customers obtain information from search, pass-along, and experience. 4. describe different types of owned media. 5. describe how to use public relations to earn attention from the press. Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 16-2 At the end of this presentation, you should be able to: 6. describe how to earn word-of-mouth from customers. 7. explain what social media is and how it differs from traditional media. 8. compare and contrast the major social media platforms. 9. describe how firms use software to measure, manage, and automate online promotion. 10.understand important new terms Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 16-3 Strategy Planning, Advertising, & Sales Promotion (Exhibit 16-1) CH 13: Promotion Intro to Integrated Marketing Communications Advertising vs. Publicity 16-4 CH 14: Personal Selling and Customer Service Customers obtain information Publicity types CH 15: Advertising, Publicity, & Sales Promotion Social media CH 16: Publicity: Promotion Using Owned, Earned, and Social Media Software for online media Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Paid, Earned, and Owned Media (Exhibit 16-2) Advertising Type of media Paid media Owned media Mass Selling Publicity Message source Selling company Selling company Independent journalists Earned media Other customers 16-5 Examples Advertising on television, print, online, mobile devices, Billboards, radio, etc. Branded websites, selling Company’s blog, selling Company social media (Facebook, Twitter), email Newsletter, brochures Television or radio news, stories, magazine or newspaper articles or reviews Word-of-mouth praise or criticism, online customer reviews, Facebook posts or Twitter tweets about a brand Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Customer Trust in Various Sources of Information (Exhibit 16–3) 16-6 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Benefits and Challenges of Advertising Media, Owned Publicity Media, and Earned Publicity Media (Exhibit 16-4) Media Benefits Type Paid • High message media control (advertising) • More precise targeting • Potentially large audience 16-7 Challenges • Not trusted • Customers easily avoid • More costly, declining effectiveness Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Benefits and Challenges of Advertising Media, Owned Publicity Media, and Earned Publicity Media (Exhibit 16-4) Media Type Benefits Challenges Owned • High message • Need to drive or media control attract customers to • Relatively low sites cost • Requires resources • Niche audiences to manage and • Versatile in maintain message content and format 16-8 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Benefits and Challenges of Advertising Media, Owned Publicity Media, and Earned Publicity Media (Exhibit 16-4) Media Type Benefits Earned media 16-9 • Most trusted information source • Customers rely on this information Challenges • Very little message control • Can be negative toward brand • Difficult to measure • Difficult to create • Difficult to target Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Customers act on earned media, but it has risks 16-10 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Customers Obtain Information from Search, Pass-Along, and Experience Customers search offline, too Marketers want to be found when customers search Pass-along from trusted sources Customers experience branded services 16-11 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Create Owned Media Content Your Customers Can Use(Exhibit 16-5) Type of owned media How customers typically discover each type of owned media? Educational web pages • Customers search so firms should optimize pages to be found when customers seek to solve problems • Build awareness. • Educate/inform • Foster trust White papers & case studies • Customers typically search for answers to problems and seek out white papers and case studies • Advertising can also drive traffic to this type of content in B2B • Build awareness • Educate/inform • Build reputation as thought leader • Foster trust Landing pages • Ads drive customers to relevant landing pages • Optimize pages to be found when customers try to solve problems • Build awareness • Start a relationship • Generate leads 16-12 Typical promotion objectives Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Create Owned Media Content Your Customers Can Use 16-13 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Landing pages to engage customers 16-14 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Create Owned Media Content Your Customers Can Use(Exhibit 16-5) Type of owned media How customers typically discover each type of owned media? Typical promotion objectives Blogs • Some posts motivate pass-along • Blog posts boost a whole site’s visibility on search engines • Regularly delivering value to keep customers coming back • Maintain interest • Build thought leader reputation Infographics • Frequently infographics are passed along • Grab attention • Inform customers Branded apps • Positive, unique experiences lead to pass-along • Provides positive experience • Support brand positioning 16-15 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Create Owned Media Content Your Customers Can Use(Exhibit 16-5) Type of owned media How customers typically discover each type of owned media? Typical promotion objectives Brand communities • New members often discover through search • When customers value they will share site with others who have similar interests • Provide value for customers • Remind customers E-mail newsletter • E-mail newsletters with useful content promote pass-along • If experience is not useful, customers will not read or unsubscrive • Maintain relationship • Remind customers • Cross-sell to customers 16-16 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Earned Media from Public Relations and the Press Get coverage in the press Online pressrooms help journalists Key Issues Get found when the press searches for a story Bloggers are the new press Ethics and the law require disclosing blogger connections 16-17 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Earned Media from Customer Advocacy 16-18 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Social Media Differs from Traditional Media • Social media— paid, owned, and earned • Social media— many-to-many communication 16-19 • Social media— no media placement cost but not free social media vs. traditional media • Advertising plans, social media reacts Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Major Social Media Platforms 16-20 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Major Social Media Platforms 16-21 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Major Social Media Platforms 16-22 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Major Social Media Platforms 16-23 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Major Social Media Platforms 16-24 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Software Can Manage, Measure, and Automate Online Media Software can manage social media 16-25 Key Issues Software carries customers through the purchase process Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Measure results from online media 16-26 Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Key Terms paid media 2. owned media 3. earned media 4. user-generated content 5. search engine optimization (SEO) 6. pass-along 7. branded services 8. white paper 9. case studies 10. landing page 11. blog 1. 16-27 15-27 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. infographic branded apps brand community referral program social media Facebook Twitter Instagram Pinterest LinkedIn marketing automation software Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
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