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547 results in Marketing

Page 20 of 28

  • 10 - Conclusions and considerations

  • Robert F. Lusch, University of Arizona, Stephen L. Vargo, University of Hawaii, Manoa
  • Book:
    Service-Dominant Logic
    Published online:
    05 June 2014
    Print publication:
    30 January 2014, pp 201-212

  • Summary

    Life is what happens to you while you’re busy making other plans.

    “Beautiful Boy”, John Lennon

    Introduction

    Service-dominant (S-D) logic is a work in progress. With the assistance of academics and practitioners we will continue to refine and develop it to create a stronger, more cohesive research tradition grounded on a core set of axioms. From the outset, we have positioned S-D logic as an evolutionary pathway moving toward a dramatically different perspective and explanation of business. The basic, underlying idea that all humans apply their competences (knowledge and skills) to benefit others and reciprocally benefit from others’ competences translates into the simple idea: service is exchanged for service. Nonetheless, as we have explored the implications of this simple idea over the past decade, we, along with others, have discovered that it has considerable potential explanatory potency; one not only applicable to micro-level, dyadic exchanges but also applicable to the meso and macro systems that emerge from these service exchanges. Perhaps predictably, we also discovered that this service-for-service exchange is not only relevant to business and economy but to society, more generally.

    Convergence

    The title of our first article, “Evolving to a new dominant logic for marketing,” provided a gateway to discuss a variety of trends occurring in applied business and marketing, as well as in scholarly writing and the trade literature. In Chapter 2, “Roots and heritage,” we reviewed the long history of the development of goods-dominant (G-D) logic and discussed how a variety of thoughts were converging around a new dominant logic. From the rapid ascendance and impact of the services marketing and management literature in the 1970s and 1980s, we began to see other currents of change in thinking. As is often the case, when thinking starts to change, it is supplemented or leveraged by the emergence of a new lexicon, which, in turn, further influences thinking and ultimately behavior or action. During the 1990s we witnessed such an explosion of new concepts and ways of thinking, including the following: operand and operant resources, coproduction, cocreation, mass customization, experience economy, network economy, core competency, value constellations, and value propositions.

  • Appendix - Reflection and dialogue

  • Robert F. Lusch, University of Arizona, Stephen L. Vargo, University of Hawaii, Manoa
  • Book:
    Service-Dominant Logic
    Published online:
    05 June 2014
    Print publication:
    30 January 2014, pp 213-221

  • Summary

    The service-dominant mindset

    1. Why do actors specialize? Can you design a society that would function with generalists and no specialists? Would this world or society approach nirvana?

    2. If specialization produces benefits to individuals, organizations, and nations is there a limit to these benefits as actors become more and more specialized?

    3. Can a society of specialists exist without markets and if so how might this occur?

    4. If service is exchanged for service and service is the fundamental basis of exchange then it could be argued that the essence of society is service exchange. Agree or disagree and defend your position.

    5. Do you agree that things cannot have intrinsic value? Can a flower garden or a single flower have intrinsic value?

    6. Consider the four axioms of S-D logic and provide an example in a household setting that illustrates each axiom.

    7. Consider what you and others around you view as your most important competences. Discuss how the concepts of performativity, structuration, and effectuation relate to these competences.

    8. If your home was on fire or was flooding and you had to evacuate within two minutes and could only take a few items, what would you take with you? Try to analyze why you would take the items you have identified.

    9. Identify an enterprise that is known predominantly for the tangible market offerings it makes and suggest how a service-dominant mindset could assist in developing innovative ideas for new market offerings.

    10. Identify examples of how performativity influences the way in which the organization you work for or lead thinks strategically.

    11. What do structuration and effectuation imply in terms of how a firm should organize?

  • 5 - Traditional and digital media

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 117-146

  • Summary

    Chapter overview

    The aim of this chapter is to understand the key characteristics (including the advantages and disadvantages) of various types of traditional and digital media, in order to make better decisions around which medium to use. Traditional media include broadcast (television, radio and cinema), print (newspaper, magazines and directories) and out-of-home advertising (billboards, posters and transit) while digital media include websites, search advertising, online and viral advertising, blogs, chat rooms and tweets, email and e-zines, mobile telephony (including wireless and quick response or QR codes) and advergames. Suggestions and examples of how the various media can be creatively integrated are given in this chapter where relevant.

    Learning goals for part 1

    After reading part 1 of this chapter, you will understand:

  • ✓ the vast number of media options available

  • ✓ the difference between a medium and a vehicle

  • ✓ pros and cons for each of the media options

  • ✓ the different media terminologies used to measure audiences of programs and the logic behind their usage

  • ✓ that these measures are often about the media vehicles (programs) and not the ad.

  • 1 - Defining integrated marketing communications

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 1-30

  • Summary

    Chapter overview

    This chapter provides a broad understanding of what integrated marketing communications (IMC) is and why it is used. It will introduce the idea of communication barriers, to help explain why creating an effective marketing communications (marcoms) campaign is so challenging, and touch on various theories of communication. In later chapters, there will be discussion of how these communication barriers can be overcome. This chapter also discusses the steps involved in the marcoms planning process, aided by 11 questions. We then give an example of how a business school uses these questions to help develop a marcoms program to benefit its Master of Business Administration (MBA) degree.

    This chapter has two parts: part 1 deals with the principles of IMC and outlines the steps involved in planning a marcoms campaign, while part 2 deals with a more advanced but nuanced understanding of IMC.

    Learning goals for part 1

    After reading the part 1 of this chapter, you will understand:

  • ✓ what IMC is and why it is used

  • ✓ what communication barriers are

  • ✓ how to use conversion ratios as a diagnostic tool

  • ✓ how ‘synergistic’ effects are achieved by coordinating different communication disciplines

  • ✓ the difference between, and relationship of, media and creative integration

  • ✓ the IMC planning process

  • ✓ why the buying motivation and media usage habits of the target audience are important in the planning process.

    • Learning goals for part 2

    After reading part 2, you will understand:

  • ✓ the strategic view of IMC

  • ✓ the stages of IMC implementation

  • ✓ barriers to IMC implementation.

  • 9 - Public relations, corporate reputation and sponsorship

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 233-258

  • Summary

    Chapter overview

    In recent years, public relations (PR) has played an increasing role in marketing. Yet it has often been treated as a poor cousin of advertising. In fact, cleverly applied PR can be very effective – think of Richard Branson of Virgin, who more often than not manages to obtain free publicity for his business initiatives. The aim of this chapter is to understand when and how to use PR most effectively, to enhance the reputation of the firm. Part 1 of this chapter will explore the related themes of corporate reputation and sponsorship, and how these should be managed and assessed.

    Part 2 of this chapter touches on political marketing. In politics, the use of advertising is restricted and yet political candidates seeking office still need to get their message across to the public. They rely on their PR team to assist in the ‘marketing’ of political issues. Part 2 also discusses the theory of agenda-setting.

    Learning goals for part 1

    After reading part 1 of this chapter, you will understand:

  • ✓ the usefulness of public relations (PR) and its advantages and disadvantages

  • ✓ the symbiotic relationship between media organisations and firms

  • ✓ what makes a story newsworthy

  • ✓ Richard Branson’s strategy of gaining free publicity

  • ✓ what constitutes corporate reputation, and the advantages of having a good reputation

  • ✓ when corporate advertising should take precedent over product or service advertising

  • ✓ how corporate social responsibility (CSR) initiatives can enhance corporate reputation

  • ✓ what sponsorship is, its advantages, and how to use it effectively

  • ✓ what crisis communication is, and how to respond effectively to a crisis

  • ✓ how to use brand architecture to understand the relationship between corporate advertising and product or service advertising

  • ✓ how to plan and use PR, corporate advertising and sponsorship in a coherent way.

  • 11 - Direct marketing and sales promotion

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 287-312

  • Summary

    Chapter overview

    This chapter covers two topics. The first topic is direct marketing, a tactic designed to trigger a response by making an offer to the target audience. The aim of this section is to understand how to conduct a good direct marketing campaign. We will also discuss the various methods for delivering an offer.

    The second topic is sales promotion. Like direct marketing, the objective of sales promotion is to trigger an immediate response, but this time with sales at both trade and consumer levels. This chapter will discuss the various types of trade and consumer promotion and examine how promotions can be negatively or positively oriented. It ends by suggesting some clever uses for consumer promotion.

    Part 2 of this chapter explores why discounting is so prevalent in the consumer packaged goods industry. It shows how to diagnose the health of a brand using baseline sales data as well as price variability due to promotions. It concludes with three suggestions on how to avoid the temptation of price discounting.

    Learning goals for part 1

    After reading part 1 of this chapter, you will understand:

  • ✓ what direct marketing is

  • ✓ the principles of good direct marketing

  • ✓ the different methods for delivering the offer

  • ✓ what sales promotion is

  • ✓ how trade and consumer promotions are different yet related

  • ✓ types of trade and consumer promotion

  • ✓ the difference between positive and negative-oriented sales promotions

  • ✓ when to use monetary or non-monetary consumer sales promotion

  • ✓ the notion of congruency benefits in promotion and the reasoning behind it

  • ✓ how to use consumer sales promotions more effectively.

  • 10 - Influence in personal selling

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 259-286

  • Summary

    Chapter overview

    The aim of this chapter is to give the reader a better understanding of the principles of influence in personal selling. Personal selling is especially important for high-involvement purchases. Part 1 of this chapter outlines the steps involved in this, with special emphasis paid to effective presentation and handling of objections, including multi-attribute reframing, selling the ‘improved value’ and selling the ‘Gestalt’. Also discussed in this chapter are the quite subtle, yet powerful, principles of compliance. For long-term success, though, a sales agent needs to be trustworthy, and we discuss here the factors that make a sales agent more trustworthy. The end of part 1 presents a model that summarises the many paths that lead to effective persuasion.

    Part 2 of this chapter examines one of the perennial questions in sales force management: why do so many sales agents give up and leave their job, while others persist even after repeated failures? The answer lies in how they attribute their success and failure.

  • 6 - Advertising creativity

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 147-178

  • Summary

    Chapter overview

    This chapter and the next are about advertising, which is a paid form of communication by a sponsor. The aim of this chapter is to give the reader a better understanding of creativity and its importance to advertising. Although advertising is only one marcoms tool, it is the most important tool for brand (re)positioning. However, for advertising to be effective, it must possess the creative power to cut through the ‘noise’ and clutter.

    This chapter is made up of two parts. Part 1 deals with the importance of advertising creativity, and sets out how to get it right. This is a complex area because our processing of a creative ad can be completely hijacked by unintended associations, which are not uncommon when we attempt anything original. To minimise this, a marcoms manager needs to understand the theory of advertising creativity, as well as how to nurture the emergence of the creative idea, which must be guided by a creative strategy summarised in a creative brief. Part 1 discusses all these issues in detail. Part 2 continues with the same theme, but deals with barriers to creativity at individual, group and organisation levels.

    Learning goals for part 1

    After reading part 1 of this chapter, you will understand:

  • ✓ why creativity is important

  • ✓ a range of theoretical perspectives of creativity

  • ✓ theories of remote associate thinking (RAT) and remote associative matching (RAM)

  • ✓ how processing can go wrong with creative advertising

  • ✓ what a creative idea is, and how it can be creatively integrated

  • ✓ the importance of developing a sound creative strategy first (using convergent thinking) before coming up with a creative idea (using divergent thinking)

  • ✓ why a creative brief is important, and the characteristics of a good one

  • ✓ the role of ideation principles in the development of a creative idea.

  • 4 - Media planning and budgeting in advertising

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 89-116

  • Summary

    Chapter overview

    This chapter is about media planning and budgeting in advertising. It is also about dollars and ‘sense’ (not cents), recognising that up to 90% of the advertising budget can be spent on media. Many industries spend as much as one-third of their profit (not revenue) on media and promotions. This means that a media plan that is not well thought out and executed will affect the company’s bottom line very quickly.

    Although this chapter is principally about media planning and budgeting, it is also about communication objectives and consumer behaviour. This is because unless we first determine what we want to achieve in our communications, we will not be able to know if we have achieved it. And if we do not understand where and when consumers buy our product or service, we will not be able to place and time our advertisement to best influence them as well. If we understand these, then we can decide on the most cost-effective channel, the best time and the ideal frequency to reach them. Each of these decisions has implications for the budget and so media planning and budgeting is quite a complex exercise. Much of it rests on the assumptions we make about the consumers’ susceptibility to media effects. In this chapter, you will gain a good appreciation of these issues.

  • 12 - Advertising testing and campaign tracking

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 313-338

  • Summary

    Chapter overview

    This chapter is about evaluating the effectiveness of an ad and the subsequent campaign. This is an important chapter because a bad ad can hurt a brand even with a single exposure, and a good ad of the same brand can outsell a bad one by about four times, even given the same media expenditure. Therefore, at the very least, we should think of ad evaluation as a risk-reduction exercise!

    In part 1 of this chapter, we discuss how to formally evaluate one’s ad, first in situ, when we assess the ad in a strict experimental control condition, and then in vivo, when we track the effectiveness of the ad in the field. But before either of these, a marcoms manager can systematically judge (guided by theory) whether the meaning of the ad is easy to understand and how persuasive it is. We will discuss in this section how he or she can do this.

    Part 2 of this chapter deals with the more advanced knowledge of using neuroscience methodologies in advertising pre-testing. The strengths and weaknesses of different psycho-physiological methods are discussed, including functional magnetic resonance imaging (fMRI), electroencephalography (EEG), eye-tracking (ET), galvanic skin response (GSR) and facial coding and electromyography (facial EMG).

  • 2 - Generating consumer insights

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 31-58

  • Summary

    Chapter overview

    This chapter is about using research effectively to assist in the creative development of marketing communications. By this, we do not mean dry quantitative statistics (although this too can yield insights) but rather a thorough understanding of the thoughts, feelings and relationship of the target audience with the brand or category. In this chapter, we assume that qualitative research, when conducted well, will yield workable insights but, when conducted badly, will yield misleading results that lead to disastrous outcomes. Therefore, the ability to uncover workable insights is an important skill. In part 1 of this chapter, we focus on how to achieve this competence. In part 2, we will examine the challenges of marketing research as a profession.

    Learning goals for part 1

    After reading part 1 of this chapter, you will understand:

  • ✓ what consumer insight is and how it works

  • ✓ what creative development research is and how it is different from evaluative or confirmatory research

  • ✓ the role of the account planner in the creative research process

  • ✓ the sources of consumer insight

  • ✓ a range of methods for obtaining consumer insight, including qualitative and quantitative research, ethnography, deprivation studies, means–end laddering and projective techniques

  • ✓ how to establish the reliability and validity of a key insight.

  • 13 - An integrative review

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 339-350

  • Summary

    We have now come to the end of the book, with much discussion and a lot to absorb along the way. As we noted in chapter 1, the philosophy that marcoms campaigns have to be both effective and efficient underpins this book. To be effective and efficient, many elements need to work together. This integrative review chapter provides an overview of the lessons you have learned in this book, summarised into different core themes. Figure 13.1 will help guide your reading of this chapter.

    Understanding communication barriers

    Chapter 1 introduced the notion of communication barriers. The basic idea is that it pays to know what barriers we need to overcome in order to get the branded message across to our target audience. These barriers include ‘noise’ and clutter (see point A in figure 13.1), consumer apathy (see point B), often caused by inertia or lack of need (C), lack of brand equity and preference (D), which are exacerbated by not having a strong creative idea or strategy (E), hampered by using the wrong media and schedule (F) or having inadequate media reach and frequency (G). The main communication barriers, depicted in figure 13.1, were first encountered in chapter 1. However, this version of the figure now shows the various ways in which these barriers can be overcome. As you read through the following themes, the figure’s depiction of the barriers and suggested solutions should fall into place.

  • 8 - Social influence

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 207-232

  • Summary

    Chapter overview

    Humans are social animals: we influence and are influenced by each other. Traditional models of marketing communications do not place much weight on social influence, but with the rise of social media and social commerce, companies are beginning to take this form of communication seriously. This chapter presents a way of thinking about IMC that incorporates these modern communication methods and the broader principle of social influence.

    The chapter starts by providing some context: it outlines how information flows and introduces some basic principles that govern behaviour in social networks. It then delves into the more substantial issues: what social media is, what its four core characteristics are, and how organisations have exploited these. This is followed by a close examination of certain types of social communication, such as word-of-mouth (WOM), buzz and viral marketing. The emphasis throughout the chapter is on understanding the preconditions necessary for what we call ‘viral contagion’ to occur. This leads to a discussion of social commerce.

    The second part of this chapter points out that social media as a form of communication is not all rosy. The main issue is the lack of control, especially over brand image. This part of the chapter also discusses ways for the marcoms manager to try to seize back some control.

  • 7 - Planning and executing the creative appeal

  • Lawrence Ang, Macquarie University, Sydney
  • Book:
    Principles of Integrated Marketing Communications
    Published online:
    12 August 2019
    Print publication:
    02 January 2014, pp 179-206

  • Summary

    Chapter overview

    In chapter 6, we discussed what an advertising creative idea is and how to increase the probability of finding the big idea. But what happens after that? Ideally, we should pre-test the idea (see chapter 12). But to do so, we need to first create the ad, sometimes called ‘execution’. Things can still go wrong if the creative idea is not well executed, no matter how good it is. For instance, the copy is difficult to comprehend, the humour is irrelevant, the celebrity chosen may not fit the brand and so on. The aim of this chapter is to discuss how executional tactics can be used effectively. In part 1, the discussion centres on what creative execution means and explains the difference between creative execution and the creative idea, stressing that executions must be guided by the creative idea. Under some circumstances, the creative execution is the same thing as the creative idea. We will also discuss different types of executional tactic and how to use them properly.

    In part 2, we discuss four grand frameworks of advertising, two of which centre on processing and two on planning. The strengths and weaknesses of each are reviewed in the context of how it can be used to guide the application of executional tactics.

Page 20 of 28