Summary COM3701 exam notes.

The study units and the relevant sections in the prescribed book are as follows: Study unit 1 The marketing context Chapter 5 of the prescribed book In this study unit we contextualise the marketing context in terms of its definition and history, marketing perspectives, the traditional marketing mix, marketing management, communication in the marketing context, and promotion and other communication processes. Study unit 2 Integrated marketing communication Chapter 6 of the prescribed book IMC is a significant modern premise in the field of marketing communication and is aimed at integrating all the communication actions of an organisation. In this study unit we address the dynamics of IMC with specific reference to the development and components of IMC, the promotional mix, the relationship marketing perspective and the global marketing perspective. The relationship marketing perspective is a product of the new millennium and emphasises the importance of building lasting relationships with stakeholders where both parties benefit. This is becoming increasingly important because of increased competition and the opportunities that are created by globalisation. Study unit 3 Online marketing communication Chapter 10 of your prescribed book The internet provides an online environment for organisations, which necessitates the inclusion of online marketing communication in marketing strategies. In this study unit we focus on the development and nature of online marketing; compare online marketing to traditional marketing; investigate internet resources that can be applied in the online marketing context; and discuss online marketing applications, their integration with traditional marketing (especially in terms of an integrated approach) and the advantages and disadvantages thereof. Study unit 4 Integrated communication campaigns Chapter 13 of your prescribed book To enable you to apply theory in practice, in this study unit we introduce you to communication campaigns in terms of an integrated context. We propose an interactive model of communication campaigns and encourage you to develop a practical, integrated communication campaign on the basis of the theoretical knowledge that you have gained in the preceding study units. We also encourage you to include the elements of the promotional mix (outlined in study unit 2) in your campaign. STUDY UNIT 1 The marketing context 1.1 Introduction We think you will agree with us that marketing plays an important role in many organisations because they have to promote their products and/or services. Think about the functions of your organisation's marketing department or think of yourself as a marketing manager of your organisation so that you can outline the things that you would do to market the products or services of your organisation. You will realise that it takes effort to convince the consumers to buy your organisation's products or services. You should be aware that the products or services should satisfy the consumers' needs to ensure that your organisation maintains a competitive advantage. Think of it this way: You are watching television. Suddenly you see an advertisement of a new cell phone and you think: ''Wow, what an extraordinary invention this is.'' Then you see another advertisement of a totally different cell phone and you are confused about which one to buy. After thinking for a long time about the two different and competing cell phones (products), you decide to buy the one you think has good features that you need. This means that the cell phone you choose to buy has a competitive advantage over the one you did not choose. With the above scenario in mind, you should realise that marketing is central to promoting an organisation's products or services. In other words, you are now able to see that marketing is a planned and deliberate effort of organisations to convince their target audience that their products or services are better compared to those of their competitors. However, it is important to realise that as a marketing manager, you have to devise strategies to advertise your company's products or services. Therefore, pause and think of the various strategies that you can adopt to market your organisation's products or services. You will probably think of advertising in various media. Read the case study “Zoom PEP Generations” at the end of chapter 5 of your prescribed book to understand the marketing context better. This case study is about PEP Stores’ attempt to increase sales in all of its stores around the country. PEP Stores’ marketing team and its advertising agency, Zoom Advertising, joined hands with the popular television soapie Generations in an effort to revive its former glory of being the number one trading store in the country. The collaboration between PEP and Generations worked in favour of PEP in the sense that sales increased. Study the graphs to get a clear picture of the sales statistics after the launch of the Zoom PEP Generations campaign. By studying this case study, you will learn techniques that you will need when marketing an organisation's products and/or services. It will also help you to understand the other study units of this module. We invite you to read and critique the case study to enhance your critical skills. 1.2 Definitions and history Where and when did marketing first begin? 18th and 19th centuries will the selling of goods by street vendors who shouted the benefits of their goods in public, however, in the late 19th century advertisers realised that repeated advertising could greatly enhance their sales activities. Marketing evolved through seven stages. The “activity to promote goods” dates back to the 18th and early 19th centuries. During the early stages, marketers did not have the same sophisticated technology that they have today. It was only during the fourth stage that marketers started to realise the importance of the four Ps (product, price, place & promotion) of the marketing mix in enhancing their marketing activities. During the sixth stage, marketers started to accommodate society's needs and to build more lasting relationships with their customers. The seventh stage includes online marketing, which we discuss in more detail in study unit 3 of this tutorial letter. What is the definition of marketing? Take a look at the various definitions of marketing in your prescribed book. Notice that all of these definitions refer to marketing as a discipline that requires thorough planning in accordance with the marketing mix. (We explain the marketing mix in more detail in section 1.4 of this study unit.) The definition of marketing that we adopt for this module is the one given by the American Marketers Association (2009), because it contains all the important aspects of marketing. These important aspects are clearly explained in detail in your prescribed book. American Marketers association definition: Marketing is a mutually beneficial relationship between the organisation and its customers as it is an organisational function and a set of processes for creating, communicating and delivering value to customers and managing relationships. Key elements of 2008 definition of marketing by the American Marketing association Activity, processes Marketing is no longer a function – it is also an educational process Set of institutions Marketing is a science, an educational process and a philosophy, and not just a management system Creating Through creative messages, marketing management must endeavour to change unfavourable conditions in the market place into opportunities Communicating Marketing communication must include messages and media about the product or service, which, nowadays must include new media and social media platforms Delivering Marketing must ensure that promises that have