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MT 219 Marketing Unit SevenMarilyn Radu, Instructor Marketing Channels, Direct Marketing and Integrated Marketing Communications Note: This seminar will be recorded by the instructor.
Review of Unit 6 • How did Unit 6 go? Questions or concerns? • Instructor suggestions for Unit 7 • How is the Research Project for Unit 7 coming? • Additional questions?
Our Topics for This Week • Channel importance, functions, types, and coverage • Physical Distribution • The Role of Direct Marketing • Integrated Marketing Communications (IMC)
Important Definitions • Marketing Channel – A group of individuals and organizations directing products from producers to customers • Marketing Intermediary – a middleman linking producers to other middlemen or ultimate consumers through contracts or purchase/resale- Includes retailers
What is Supply Chain Management? • Long term partnerships among marketing channel members that reduce inefficiencies, costs, and redundancies. They also develop innovative approaches to satisfy customers. • Emphasis is on stability for customers
Why do we need channels? • Channels create utility (What is utility?) time- Available when needed place- Available where you need it possession- Accessible when needed form-Available in the form you want- ie. Bulk-breaking. • Channels make exchanges more efficient
Types of Channels • Producer - Consumer (no intermediary) • Producer - Retailer - Consumer • Producer – Wholesaler – Retailer – Consumer • Producer-agent/broker – Wholesaler-Retailer - Consumer
Channel Issues • Conflict - horizontal and vertical • Leadership and Power- Concept of Channel Captain • Integration
Coverage Intensity • Intensive • Selective • Exclusive
Physical Distribution • Order Processing • Inventory Management • Materials Handling • Warehousing • Transportation
Direct Marketing The use of telecommunications and nonpersonal media to introduce products to consumers, who then can purchase them via mail, telephone, or the Internet.
Catalog Marketing • A type of marketing in which an organization provides a catalog from which customers place orders by mail, telephone, or Internet. • J.C. Penney • The Sharper Image • Victoria’s Secret • Are the online sites that sell products also catalogs?
Direct Response Marketing A type of marketing that occurs when a retailer advertises a product and makes it available through mail, inbound telephone or internet orders. - 1-800-Flowers
Telemarketing • The performance of marketing-related activities by telephone Useful for sales lead generation, raising funds, and gathering marketing data. Outbound telemarketing Consumer Rights and privacy issues
Television Home Shopping A form of selling in which products are presented to television viewers, who can buy them by calling a toll-free number and paying with a credit card. Popularity of infomercials and QVC
Online Retailing • Retailing that makes products available to buyers through computer connections • Growing in popularity • Security remains an issue
Integrated Marketing Communications • Assuring consistent messages through the coordination of promotional efforts • The objective is to generate maximum informational and persuasive impact • Generally, all four of the promotional mix are used- advertising, personal selling, sales promotion and publicity
The Role of Promotion Communication to build and maintain relationships by informing and persuading one or more audiences (target segments) This should be a coordinated effort that offers synergy between the components
The Promotion Mix • Personal Selling • Public Relations/Publicity • Sales Promotion • Advertising
Source Coded Message Medium of Transmission Decoded Message Receiver Noise- Reduce as much as possible Feedback- Make sure you listen to customers and valued links in distribution chain The Communication Process
Promotion Objectives • Create Awareness • Stimulate Demand • Primary • Selective • Encourage Trial • Identify Prospects • Retain Loyal Customers • Facilitate Reseller Support • Combat Competitive Promotional Efforts • Reduce Sales Fluctuations • Think RIP- Remind, inform and persuade
Any Questions? Thank you for attending! See you next week!