Lecture 3

The Marketing Mix (4P’s: Product, Price, Promotion, Place)

Commodity, Product, Brand

What is a Brand, Differentiation, USP,

Positioning (The Battle for the Consumers mind)

Competitive Advantage, Sustainable Competitive Advantage

Product Life Cycle

The Advertising Spiral; Pioneering, Competitive & retentive

BRANDS Rational Elements (Thinking; what the brand is doing)

-Embody the content and theme of the brand’s communication, its

proposition and its promise

-Speak more to the left/rational side of the brain

- Are the most visible part of the brand

Emotional Elements (Feelings; How the brand is expressing)

-Set the brand’s style, tone, character, ,mode, mood of execution

-Speak more to the right/intuitive/nonverbal side of the brain

-Are less visible and therefore more difficult to express directly and
measure

IMC (Integrated Marketing Communications) all sources of brand or company

contact; touch points

Why is IMC Important?

- From mass to more focused media

- From advertising to communication solutions

- Power shift from manufacturers to retailers

- Database marketing

- Greater accountability of advertising effectiveness

- Change in advertising compensation models

 - The growth of internet

IMC and Brand Identity

PROMOTIONAL MIX TOOLS:

Advertising, Personal Selling, Sales Promotion, Publicity/Public Relations

Direct Marketing, Interactive/Internet Marketing

Classification of Advertising
Consumer Markets:

National Advertising

Retail/Local Advertising

Primary versus Selective Demand Advertising

Business & Professional Markets:

B2B Advertising

Professional Advertising

Trade Advertising

Other Types:

Idea /Cause Advertising

End Product Advertising

Service Advertising