The Marketing Communication Process

The Marketing Communication Process

Stages of the Negotiation Process

•      The offer

–   assess each parties’ needs and commitment

•      Informal meetings

–   trust-building among deal makers

•      Strategy formulation

–   review and assess factors to be negotiated

•      Negotiations

–   formal, informal, short or long

•      Implementation

International Negotiations

•       How to negotiate in other countries

–    Team assistance

–    Traditions and customs

–    Language capability

–    Determination of authority limits

–    Patience

–    Negotiation ethics

–    Silence

–    Persistence

–    Holistic view

–    The meaning of
agreements

Marketing Communications Strategy

Steps in Formulating Marketing Communications Strategy

The Promotional Mix

•       Advertising

–    any form of non-personal communication

•       Personal  Selling

–    the use of person-to-person communication

•       Publicity

–    non-paid, commercially significant news

•       Sales Promotion

–    Direct inducements of
extra value or incentives

•       Sponsorship

–    Promoting interests of company by association

The Promotional Mix

•      Push strategies

–   focus on personal selling, considered essential in international marketing of industrial goods.

•      Pull strategies

–   depend on mass communications (advertising of consumer-oriented goods) to reach target audiences over long distribution channels.

•      Integrated marketing communications

–   coordinated use of a broad range of promotional tools to reach a target market.

Communications Tools

•       Direct marketing

–    Is intended to elicit immediate and measurable responses to direct-response advertising, telemarketing, and direct selling.

–    Direct mail depends on acquiring mailing lists that target the intended audience.

–    Effective direct mailing require extensive planning of materials, format, and mode of mailing.

•       The Internet

–    can expand marketing communications world-wide with low costs.

Trade Shows and Missions

•      Magnitude: Over 16,0000
trade shows generate $50
billion in business annually.

Trade Show Participation

•       Reasons for participation

–    Customer can examine the product.

–    Goodwill and contact cultivation.

–    Locating a trade intermediary.

–    Opportunity to meet government officials and decision makers.

–    Opportunity for market research and collecting competitive intelligence.

–    Exporters able to reach sales prospects in brief time period at reasonable cost per contact.

•       Reasons for not participating

–    High cost.

–    Identifying the “right” trade shows to participate in.

–    Coordination.

Personal Selling

•      The most effective promotional tool.

•      Costs per contact are high.

•      Yields immediate customer feedback and sales results.

•      Keys to personal selling

–   Salesperson’ has the ability
to adapt to the customer and
the selling situation.

–   Salesperson must have a
thorough knowledge of the
product or service.

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