[Link] [Link].
com
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 1
Managing Markets Strategically
Professor Noel Capon
R.C. Kopf Professor of International Marketing
Columbia Business School
New York, NY, U.S.A.
&
Professor Siddharth Shekhar Singh
Director Fellow Programme in Management & Associate Professor of Marketing
Indian School of Business
Hyderabad & Mohali, India
[Link] [Link] Managing Markets Strategically
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 2
Section I: Marketing and the Firm
Section II: Fundamental Insights for Strategic Marketing
Section III: Strategic Marketing
Section IV: Implementing the Market Strategy
Part B: Communicating Customer Value
Chapter 15: Integrated Marketing Communications
Chapter 16: Mass and Digital Communication
Chapter 17: Directing and Managing the Field Sales Effort
Section V: Special Marketing Topics
[Link] [Link]
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 3
CHAPTER 15
Integrated Marketing
Communications
[Link] [Link] The Fundamental Business Model
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 4
Shareholder Value
Organizational Survival and Growth
Current and Potential Profits
Competitors
Attract, Retain, and Grow Customers
Competitors
Customer Value
Company
[Link] [Link] Six Marketing Imperatives
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 5
• Imperative 1: Determine and recommend which markets to address
• Imperative 2: Identify and target market segments
• Imperative 3: Set strategic direction and positioning
• Imperative 4: Design the market offer
• Imperative 5: Secure support from other functions
• Imperative 6: Monitor and control
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 6
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 7
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] Communications Challenges
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 8
External
• Competitive communications
• Multiple information sources about the firm
• Public perceptions
• Regulators
• Noise
• Evolving communications technologies
• Social media
Internal
[Link] [Link] Communications Challenges
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 9
External
Internal
• We don’t need it
• We’ve already done that
• It’s an unnecessary expense
• We need different messages for different audiences
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 10
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] The Communications Process
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 11
Intended Message Message as Message as
Encoding Transmission Decoding
Message as Sent Received Understood
Chance of Chance of Chance of
Error Error Error
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 12
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] Communications Tools
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 13
Personal
Personal selling
Telemarketing/Telesales Customer
Service
Word-of-mouth/
Social media
Mass
Advertising
Direct marketing Customer
Firm Packaging
Publicity & public relations
Sales promotion
Word-of-mouth/
Social media
Digital
Online advertising and public
relations
Customer
Websites
Blogs and microblogs
Quasi-personal communication
Mobile marketing
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 14
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 15
• Communications targets
• Communications objectives
• Communications messages
• Communications tools
• Budgets
• Timing
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 16
Communications Targets: Illustration – Subcomponent Manufacturer
Push Strategy Subcomponent Subcomponent Pull Strategy
Manufacturer Manufacturer
Component Component
Manufacturer Manufacturer
Finished-Goods Finished-Goods
Manufacturer Manufacturer
Distributor Distributor
Retailer Retailer
Final Consumer Final Consumer
Flow of Goods
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 17
Push & Pull Strategies: Illustration – Personal Computers
Intel
CPU “We’re the best”
Chinese
Manufacturer
Motherboard “Use our parts”
Hewlett-Packard
Computer
(wholesale) “Carry HP products”
Best Buy
Computer
“Shop here”
(retail)
“Buy HP”
Final Consumer
“Intel Inside”
Flow of Goods
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 18
Communications Objectives: Subcomponent Manufacturer
Customer Type Communications Objectives
Component • Learn how to assemble firm subcomponents into customer components
Manufacturer • Purchase subcomponents for use in components
• Inventory sufficient components to satisfy finished-goods manufacturers
Finished-goods • Agree to purchase components for finished products
Manufacturer • Agree to place subcomponent brand on finished product
Distributor • Train salespeople to communicate benefits and sell finished products to retailers
Retailer • Agree to budget co-op advertising funds for finished products
Consumer • Become aware, understand, like, try, purchase, and continue to purchase
finished products
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 19
Communications Tools: Match Targets and Objectives
Communications Targets and Objectives
Identify Potential Qualify Potential Sell Qualified Sell and Service
Communications tool Retailers Retailers Retailers Retailers’ Customers
Personnel selling ****
Telemarketing/telesales ****
Individual service personnel
Sales and service teams ****
Advertising
Direct marketing ****
Publicity & public relations ****
Sales promotion
Online advertising and public relations
Website ****
Blogs and microblogs
Social media
Mobile marketing
[Link] [Link] Developing Communications Strategy
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 20
Key Questions
1. Who are our communications targets?
2. What are our communications objectives?
3. What key message do we want to get across?
4. What communications tools shall we use?
5. What communications budget shall we set?
6. When is the right time to communicate?
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 21
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 22
Illustration
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 23
“ I don’t know who you are.
I don’t know your company.
I don’t know your company’s product.
I don’t know what your company stands for.
I don’t know your company’s customers.
I don’t know your company’s record.
I don’t know your company’s reputation.
Now – what was it you want to sell me?”
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 24
Corporate Business
Strategy
Market Strategy Market Strategy Market Strategy
Market Segment Market Segment Market Segment
Strategy Strategy Strategy
Promotion/Commun
Product Service Distribution Price
ication
Word-of-
Personal Mass Digital
Mouth/Social Media
Communication Communication Communication
Communication
Tele- Online Quasi-Personal
Field Sales marketing/Telesale Service Advertising Blogs and Communi- Mobile
Websites
s and Public Microblogs cations Marketing
Relations
Publicity
Advertising Direct Packaging & Public Sales
Marketing Relations Promotion
[Link] [Link] Integrated Marketing Communications
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 25
Session Roadmap
• Communications challenges
• The communications process
• Communications tools
• Developing communications strategy
• Integrated marketing communications
[Link] [Link]
© Noel Capon and Siddharth Shekhar Singh, 2014. All rights reserved. PRESENTATION 15 OF 24 / 26
CHAPTER 15
Integrated Marketing
Communications
