what is the communication mix, and how should it be set?

What Is The Communication Mix, And How Should It Be Set?

Kotler Chapter 16Aayushi Aggarwal IIT Kanpur

Communication Mix

Companies must allocate the budget over 7 Major modes of communication

Advertising

Advertising reaches geographically dispersed buyers.

Dramatizing the brand attracts attention

The advertiser can choose the aspects of the brand and product to focus.

Compare the messages of various competitors

Trigger quick sales

Sales promotionThey incorporate some concession, inducement, or contribution that gives value to the customer to draw a stronger and quicker buyer response

COUPONS

Public Relations and Publicity

Variety of programs directed to promote or protect a company's image.Highly credible than ads

Impress by telling the story behind your company

Charitable Donations

Seminars

Events and Experiences

Given their live, real-time quality, events and experiences are more actively engaging for consumers

Indirect “Soft Sell”

Direct and Interactive marketing

To directly communicate with or solicit response or dialogue from specific customers and prospects quickly.

Word Of Mouth Marketing

People trust others they know and respect.

Personal Selling

Buyer is given personal choices and encouraged to respond directly leading to quicker sales

Factors in Setting MarCom MixType of MarketCommunications mix allocations vary between consumer and business markets.

Consumer marketers tend to spend comparatively more on sales promotion and advertising

Business marketers tend to spend comparatively more on personal selling.

Factors in Setting MarCom Mix

Buyer readiness stageCommunication mix tools vary cost effectiveness at different stages of buyer’s readiness. There are 5 stages in the buyer’s readiness.• Awareness• Comprehension• Conviction• Order• Reorder

Factors in Setting MarCom MixCommunication mix tools also vary in cost effectiveness at different stages of the product life cycle. There are 4 stages in the product life cycle.• Introduction stage• Growth stage• Maturity stage• Decline stage