Recap of 25/11/2011

Dear Fellow Participants,

Below is a short recap of the Marketing II lecture that we attended on 25/11/2011.

1. Sir started with a few guidelines for the upcoming final presentations.
2. The first topic to be discussed under Promotions was Promotion mix which constitutes Advertisements, Sales promotion and Public Relations(PR).
3. Integrated Marketing Communication - A closed funnel approach to communicate the same message through different media
4. Advertisement is a weak persuader but it's a long-time persuader.
5. Can product survive through sales promotion only and no advertising?
6. Challenges in PR.
7. Correlation between sales promotion and advertising.
8. Loyalty Cards are given to customers with many objectives like prioritization, special benefits etc but the main aim of the marketer is Profiling of customers.
9. Challenges in implementing Loyalty cards.
10. Traditional retail outlets v/s Modern retail.
11. What are the key attributes of an advertisement?

Zip & Zap
Catch line
Jingle
Message
Theme
Celebrity
Offerings
Logo
Product
Communication

12. Biggest challenge for today's ad makers - OTS. Channels resort to cartilisastion.

13. Zipping - Switching Channels on the TV when Ads appear.

Zapping - Ability to forward and skip ads in recorded media.

Cheers.

RECAP

Dear participants,

Here is the RECAP of the last marketing management-2 class held on 26-11-11 …..

1^st of all we’ve discussed about PROMOTION MIX, it consists of 3 parts:

1.       Advertisement

2.       Sales Promotion (It’s a booster of sales)

3.       PR (it’s the most important part of Promotion Mix)

Now these all are part of IMC. (Integrated Marketing Communication)

The major learning of last class: 

1.       Differentiation & Integration.

2.       Integration: It integrated all the communication channels & uses it in a very efficient ad objective manner so as to market a product.

3.       We’ve also covered how promotion & TRP are related

4.       We’ve also discussed few challenges of PR

5.       Integrated communication is is like a funnel, which integrated all information & delivers that information.

6.       Sales promotion can go single handedly

LOYALITY CARDS:

The main objects of a loyalty card are:

1.       Prioritization

2.       Customer retention

3.       CRM

4.       Repetitive benefits

5.       Depository

6.       Profiling

Main Challenges of LOYALTY CARDS:

1.       Customers don’t fill the form correctly

2.       Ignorance of the organization

3.       Inadequate follow up by the organization

We’ve also covered customerization & customization:

Customerization : It’s for individual customer

Customization: it’s for the clustered customers

Lastly we’ve discussed the major components of an AD & the challenges of the same.

Components:

1.       Message

2.       Theme

3.       Logo

4.       Jingle

5.       Catch line

6.       Product description

7.       Communication

8.       Celebrity

9.       Offerings

10.   Concept

Challenges of an AD:

The main challenges which an AD has to face are:

1.       OTS (Opportunity To See):  Inadequate opportunity of visibility to the customers

2.       ZIPPING: To skip the AD Customers frequently change the channel when there is an AD going on. (Its applicable, when a customer is watching a  live show or unrecorded show )

3.       ZAPPING:  To skip the AD Customers fast forward their recorder show, its known as ZAPPING.

(It’s applicable when a customer is watching a recorded show)

ALL THE BEST FOR EXAM

-Participant,

ANIK KAR

Roll: 77

Recap- 25/11/2011, Friday

RECAP -25/11/2011, FRIDAY

1. PROMOTION MIX: is an integration of

i. Advertisements

ii. Sales Promotions, and

iii. Public Relations

2. We discussed about challenges in Public relations.

3. Integrated Marketing Communication (IMC): integrates all the communication channels in a very efficient and objective way.

4. Correlation between TRP and Sales Promotion: very well correlated.

5. Sales Promotion: acts as booster for sales.

6. What is a loyalty card and how are they designed?

i. Prioritization

ii. Benefits

iii. Repository

iv. Retention

v. Repetitive

vi. Repository leads to customization

7. DMO: Distinct Market Offering

8. Challenges for loyalty cards: Loyalty cards are used to profile customers.

9. Advertisements:

Two terms closely associated with advertisements are

i. Zipping: Skipping ads by changing the channels.

ii. Zapping: After recording, watching the program but skipping the ads by forwarding.

10. Contents of Advertisements: Message, theme, offerings, celebrity, logo, jingle, catch line, product and communication.

11. OTS: Opportunity to see.

12. “Advertising brings business.”

13. “Advertising is a weak persuader but is a long time persuader.”

Participant,

Sujit Kumar Jha

Recap of session 19 and 20(friday).

What is promotion mix?

Marketers have at their disposal four major methods of promotion. Taken together these comprise the promotion mix.

The four major methods are as follows:

Advertising – Involves non-personal, mostly paid promotions often using mass media outlets to deliver the marketer’s message.

Sales Promotion – Involves the use of special short-term techniques, often in the form of incentives, to encourage customers to respond or undertake some activity.

Public Relations – Also referred to as publicity, this type of promotion uses third-party sources, and particularly the news media, to offer a favorable mention of the marketer’s company or product without direct payment to the publisher of the information.

Personal Selling – As the name implies, this form of promotion involves personal contact between company representatives and those who have a role in purchase decisions (e.g., make the decision, such as consumers, or have an influence on a decision, such as members of a company buying center). Often this occurs face-to-face or via telephone, though newer technologies allow this to occur online via video conferencing or text chat.

Then we discussed about TRP and sales promotion.

TRP plays a important role in advertising.

Generally, In a high TRP channel you can see more no. of advertisement to capture the attention in minds of people.

Sales promotion:-Its a tool for pushing up the sales. It is like a booster and influence impulse purchasing.

Many of the brands go only for the sales promotion and not advertising but still they are very successful in the market. They push sales through retail chain. Ex. John miller, Wlidcraft bags, ect.

In second session after having a break we learned about :-

What is loyalty card?

A loyalty card is a plastic card with a magnetic strip at the back, or a small chip at the front of the card. The magnetic strip or chip contains information that is used to identify the buyer at every transaction. This way, the buyer is linked to the transaction at the swipe of his card.

Then we discussed various points on loyalty cards such as:

a) why loyalty card is important?

b) concept of Distinct Market Offering

c) challenges marketing managers face while designing loyalty cards?

d) General provision stores vs Reliance Fresh outlets.

Some of the objectives of loyalty cards are:-

1.To retain customers

2 To priorities customers

3.To increase repetitive purchase rate.

4.decide preference

Advertisement:- Advertisement comprises of the following key terms:

1.Message 2.theme 3.logo 4.jingle 5.catch-up line 6.product 7.product 8.communication 9.concepts

ZIP & ZAP of Advertising

1.Zip:- zipping is one of the challenges for advertisers.Tv viewers keeps changing the channels when ever in break time TV channels show Ads.

To overcome from these problems all tv channels form curtail and shows advertisements on same time.so that probability of communicating to viewers gets increased.

2.ZAP:-it is another problem faced by advertisers.Tv viewers record programs on their DTH receivers or PCs but when they watch it they simply skips Ads.

Despite of zipping and zapping advertising industry is growing very fast.

Participant:

Bhavesh Agrawal.

Recap 25-11-2011,Friday

In first session we discussed about Sales Promotion and Promotion mix.

#promotion mix :- promotion mix is a integration of advertisement,sales promotion and public relation.
It is Integrated marketing communication (IMC).

TRP plays a important role in advertising.
Generally, In a high TRP channel you can see more no. of advertisement to capture the attention in minds of people.

Sales promotion:-Its a tool for pushing up the sales.it is like a booster and influence impulse purchasing.

Advertisement is a weak persuader but long time persuader.
Example :-Fevicol advertisement (pakde rehna chhodna nahi)
people might not go to buy the product immediately but when ever they need that product then first thing click in their mind will be the product of which`s ad they watched in television.


In second session we learned about :-
1.what is loyalty card?
2.why loyalty card is important?
3.concept of Distinct Market Offering
4.challenges marketing managers face while designing loyalty cards?
5.General provision stores vs Reliance Fresh outlets.

Loyalty cards is used to Re-profile customers.some of the objectives of loyalty cards are:-
1.To retain customers
2 To priorities customers
3.To increase repetitive purchase rate.
4.decide preference

#Advertisement:- keys in advertisement
1.message 2.theme 3.logo 4.jingle 5.catch-up line 6.product 7.product 8.communication 9.concepts

#ZIP & ZAP of Advertising
1.Zip:- zipping is one of the challenges for advertisers.Tv viewers keeps changing the channels when ever in break time TV channels show Ads.
To overcome from these problems all tv channels form curtail and shows advertisements on same time.so that probability of communicating to viewers gets increased.

2.ZAP:-it is another problem faced by advertisers.Tv viewers record programs on their DTH receivers or PCs but when they watch it they simply skips Ads.
To overcome this problem marketers position their brands so high.

In next class we will discuss :-
1.Types of advertising.
2.efficacy of advertising mix.

Participant,
Vinayak Chauhan

Brand Blink: Understanding the Mind to get to the Heart of Buying Decisions

Malcolm Gladwell enlightens our thinking with his book Blink, a fascinating exploration of how decisions are made in the blink of an eye, before consumers even realize they’re making a decision. He suggests “we think without thinking.”

Gladwell’s effort to share emerging insights into how our brains work is timely. In this decade, we are learning more about how humans think and feel and what drives our behavior than the whole of our discoveries in the time since Sigmund Freud dreamt up the idea of psychoanalysis. This has profound implications for marketing and brand professionals. As it turns out, these developments are revealing just how faulty and inadequate conventional research methods are when it comes to truly understanding consumers.

WHAT’S BEHIND BLINK?
In Blink, Gladwell urges that people make decisions through rapid cognition and a concept known as thin-slicing—the ability of our unconscious to find patterns in situations and behavior based on very narrow slices of experience. More than we realize, we evaluate a situation or a brand and frame our response before we ever consciously think about it. When we thin-slice, we recognize patterns and make snap judgments, we do this process of editing unconsciously. We first see and perceive a color several hundred milliseconds before we can think or say “red light.” Our foot seeks the brake long before we actually think about stopping, that is, if we think about it at all.

As Gladwell warns, “while people are very willing and very good at volunteering information explaining their actions, those explanations, particularly when it comes to the kinds of spontaneous opinions and decisions that arise out of the unconscious, aren’t necessarily correct. Finding out what people think of a rock song sounds as if it should be easy. But the truth is that it isn’t, and the people who run focus groups and opinion polls haven’t always been sensitive to this fact.

FINDING BRAND BLINK 

 Buying decisions are made on promises that transcend products, and promises are rooted in human emotions.  Quite simply, brands are built on trust. Making and keeping promises builds trust which is among the most basic of human emotions. To impact our company’s bottom line, we need to get in touch with our customers’ emotions.  As marketers, we must have our own blink moments and embrace the reality that branding is about “brain surgery” and psychology. Because how your customers feel about your brand isn’t a casual question.  It is the crucial question.

Some Brands Use Old JINGLES..

"Mhaaro Gaanv Kathiapare.." can any one make out what it is?? you are right it is the famous jingle of Amul brand which says "The name of my village is Kathiwad"..
we can see many brands in the country using the same old jingles they used in early days to market their products..

Right from " Hamara Bajaj", "Doodh si safedi Nirma se aaye", "Tandrusti Ki Raksha Karta Hai Lifebuoy" and Vicco Vajradanti's jingle..the marketers have still being using age old jingles even today. The use of jingle helps Brands to market themselves without doing much efforts.

In some cases it may be lack of budget  but many Brands believe that it is a sense of Nostalgia for customers which reminds them about the earlier days.

A jingle is only the physical manifestation of that nostalgia!!

(For full news read-  Why some brands use old jingles and advertising unchanged for years? Brand Equity, 23 November 2011.)