What is marcom? How have the functions within marketing communications become more integrated? What does the Forbes writer, Judy Begehr, say about how content will impact the IMC? Why is this important? Incorporate concepts and examples from this week’s lecture in your post. Must be at least 350 words and APA.

Integrated Marketing Communications

Welcome to the world of the Integrated Marketing Communication! Since we know there is not one “right” way to communicate with an organization’s customers and potential customers, organizations must study carefully the options and venues available to reach their targeted market segments. While there are 4 P’s in the marketing mix (price, product, place, promotion), our course will focus on the “promotion” aspect of the marketing mix.

Ogden & Ogden (2014) state marketing communications is a subset of marketing (section 1.1). For purposes of our course, we will use Hutton’s (as cited in Ogden & Ogden, 2014) definition of integrated marketing communication (IMC), “the process of coordinating and integrating all marketing communication tools into a seamless program to help the company achieve its objectives” (section 1.1). Companies frequently abbreviate marketing communications as “marcom.” Since the purpose of marketing communications is to build a relationship with potential customers, it is critical organizations spend resources and thought when developing their marcom.

What does all this mean? It means the marketing manager must carefully consider the organizational objectives and constraints when selecting communication venues. It also means the organization should communicate one message to the public from every single area within the organization. This takes a lot of coordination. Below we will discuss corporate image, branding, and the effect of consumer attitudes.

A corporate image is how consumers and other businesses feel about an organization and the brands of its individual product lines. A corporate image also summarizes what the organization stands for and how it is known in the marketplace. For instance, Clow and Baak (2012) use the examples of the “good hands” of Allstate or the “good neighbor” of State Farm. We know immediately the insurance organizations’ stand for reassurance and safety, which contributes to their corporate image. Since this is based on individual consumer perception, how might an organization set about creating its corporate image?

Branding

One way an organization creates its corporate image is by branding. The difference between corporate image and branding is simple: corporate image covers the entire organization and its reputation among its consumers, whereas branding covers a single product line or a group of complementary product lines. Hormel Foods is the corporate brand, and brand names of Dinty Moore and Jennie-O Turkey Store as product lines. Can you think of another corporate image with individual brands? What about Kraft? Proctor & Gamble? Coca-Cola? Johnson & Johnson? Take a look at the infographic below. Some of the brands for each corporation are listed:

We recognize many of the brands from each corporation. The right name can differentiate an organization’s brand from its competitors with a single word (Manning, 2014). A good name should be interesting and memorable; generic-sounding names will not separate a brand from its competitors, so it is imperative the organization gets it right. On the other hand, intentionally selecting a name that is difficult to pronounce and/or spell can have a negative impact. A brand name requires an extensive search (Felber, 2012); however, used correctly, a brand name can evoke respect and create a sustainability to obtain and keep market share (Stephens, 2014).

Attitudes

What are attitudes? On the surface, this concept seems simple: an attitude is something we think, believe, or feel. Yet can there be more to an attitude? And how is a person’s attitude so influential toward consumer behavior?

In order to determine what affects an attitude and how it is formed, it is first important to understand what attitude is: a “learned predisposition to behave in a consistently favorable or unfavorable way with respect to a given object” (Schiffman & Kanuk, 2007, p. 268). An object can be a product, a product genre, a commercial, a service, etc. There are four broad categories of attitude models discussed in our text; the following will highlight additional research and insight into how an attitude is formed.

Unlike many believe, a person’s behavior and attitude resemble the times more than the teachings from his or her childhood. Meredit and Schewe (1994) suggest our attitude is formed by our cohort group, from the experiences of our youth (see Appendix A). Ryder (1964) further suggests the cohort effect is defined as a group of people “born over a relatively short and contiguous time period as a ‘generational cohort’ that is deeply influenced and bound together by the events of their ‘formative years’ (p. 843).

What does this mean for marketers? In the United States, the passage of adulthood occurs approximately between the ages of 17 and 21 (Meredith & Schewe, 1994, p. 24). Economic and national events that happen during this time tend to affect the lifelong attitude and, thus, consumer buyer behavior. Psychologists find these core values and attitudes remain largely unchanged throughout life (Meredith & Schewe).

One illustration of attitudes and its effect on consumer behavior would be an organization positioning itself to appeal to a specific generation – if you are Pepsi, positioning yourself as a baby boomer’s soft drink would not be smart. Studies by Pepsi show Generation X and Generation Y tend to drink Pepsi, while baby boomers tend to drink Coca-Cola. The moral of the story? Find your customer, study their attitudes, and customize your marketing and advertising campaigns around ideas and events to which they will be able to relate!

Remember the commercial with the person representing the IBM-based PC? () He was middle aged and conservative, whereas the person representing the Apple Mac was young, casually dressed, and portrayed as being open to change and growth – does this remind anyone of one of Apple’s co-founders, Steve Jobs?

 

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Throughout this module you learned the basics of contract formation. An additional requirement of contract formation is consideration. The courts separate legally binding obligations from mere agreements by checking for consideration. Under basic principles of contract law, consideration is the answer to the question, “Why are you entering this contract?” or “What are you receiving for being a party to this contract?”

Consideration, quite simply, is the benefit that each party gets or expects to get from the contractual deal. For example, you paid your college tuition money for an education. You benefit by receiving the educational services of the college, and the college benefits by receiving your tuition money.

For this written assignment, you will further explore the topic of consideration and whether it is present in the following scenarios. Read the facts of the scenario and answer the following questions:

1. Is there proper consideration? (Further research on consideration is recommended)
2. Why or why not is there valid consideration?

Your answer to each scenario should be a paragraph in length and must include the source of your information in a properly formatted APA citation.

Scenario 1:

Tasha rents an apartment in an undesirable part of town. While others, such as her Aunt Rita, find it unsuitable, Tasha seems fine with her living situation. She never experiences any problems with the neighbors, and the rent is cheap. One day during a phone call, Aunt Rita tells her that she wants to gift her $10,000 for anything of her choosing. Tasha figures that this is her aunt’s backhanded way of getting her to move, so she decides to search for a home. Upon finding a home, Tasha calls her Aunt Rita and asks for the money. Rita changes her mind and tells Tasha that she no longer wants to give her the money. Angrily, Tasha hangs up the phone and heads to the courthouse to sue her aunt for the $10,000. Is there consideration?

Scenario 2:

Officer Friendly notices a poster announcing that a reward is being offered for the capture of a nefarious criminal, Fred Doesnogood. During his evening patrol, Officer Friendly apprehends and arrests Doesnogood. After he completes his shift he decides to call the number to get the reward seeing as he is the one who captured him. Will he be able to get the reward? Is there consideration?

Scenario 3:

Ezra loves watching home improvement shows, but is not that handy when it comes to doing the actual improvements at his house. During one of his favorite shows, an ad appears for a local painting company that is running a fantastic deal. He calls the number and arranges for Izzy to paint his house on Friday. Izzy shows up on Friday and they agree upon a price of $700.00 for the exterior of the house to be painted. Izzy completes the job to the satisfaction of Ezra, but he does not seem to want to pay. Is there consideration?

 

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Exercise 1:  Create a dynamic PowerPoint presentation for Monthly Director Webinar 

Details:

Date:  Friday, July 5, 2016
Time:  9:00 a.m. PST

Call-in number: www.piconetwork.org fo r more information/graphics to include in the presentation.   For more information about the Events find the PICO Events section on our website | User ID:  Events | Password:  Network1

Exercise 2:  Scenario Planning

Scott would like to meet with Donald Duck, Executive Director of the Quack Foundation in Washington, DC.  Scott has met Mr. Duck at a previous funder briefing in New York City and is in relationship with Scott’s close friend Mickey Mouse at the P.J. Foundation.  Scott will be in the D.C. area February 20-24^th for other site visits.  He has meetings scheduled from 3-5 p.m. on the 20^th and 21^st.  He is flexible with his schedule and would like to accommodate Mr. Duck’s schedule.  This meeting is top priority for Scott. 

1) Describe the process you would go through to request a meeting between Mr. Duck and Scott

2) Draft an email requesting a meeting with Mr. Duck

3) Assume that the meeting has been confirmed.  Mr. Duck has invited Scott to present to the Quack Foundation’s board about PICO’s history.  Mr. Duck mentioned that if Scott had any prep materials to send them to him a week before the meeting.  How would you organize Scott for this meeting? Create 1-2 slides about PICO History based on the information off our website. 

 

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In your International Economics textbook, Carbaugh (2015, pp. 240-243) provided a historical account of OPEC and its power in controlling the global petroleum supply. In a critical essay, investigate the dynamics OPEC has faced in the global market in the last ten years. You may select a member country and analyze the effects from the perspective of that jurisdiction. Support your findings with additional academic references.

Directions:

• Your essay should be 3-5 pages in length, not including the title and reference pages.
• You must include at minimum three credible sources. Use the Saudi Electronic Library to find your resources.
• Your paper must follow Saudi Electronic University academic writing standards and APA style guidelines, as appropriate.

 

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(1a) Economists tend to fall into two distinct camps where government intervention in the economy is concerned.

“Keynesian” economists favor active policymaking based on the Phillips Curve and NAIRU theories. These theories purport a possible trade-off between unemployment and inflation and suggest that appropriate policy can be enacted to guide us back to a soft landing when business cycles create havoc within the economy.

Economists who align more with the “Classical” school would have a “leave it alone” (Laissez Faire) attitude and would oppose active policymaking. “Rational Expectations Theory” (a “new classical approach”) suggests that people figure out what will happen based on past policy changes, therefore rendering active intervention ineffective.

In this week’s Discussion area, examine the following:

• In your opinion, which theory is better? Why?

 

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