Brand personas are commonly used in customer journey mapping, but are generally helpful in most aspects of marketing strategy development. This is because a brand persona – which is a representation of the typical customer in a target market – helps the firm more clearly understand the consumer.Generally firms will develop multiple brand personas – […]
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Using Brand Personas in Customer Journey MappingA fundamental principle of modern day marketing is to segment the market and select appropriate target markets. For more information on the market segmentation process, please refer to the market segmentation study guide.Target markets are smaller parts of the overall market, where consumers are grouped into sets of similar
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As suggested by the name, a customer journey is the progression of a consumer (initially a non-customer of a brand) in their journey to becoming a customer of the brand.
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Three main phases of a customer journeyCustomer journeys, particularly for high involvement purchases, may take years to lead to a purchase decision. For example, a young consumer buying their first brand new car would have years of experience of seeing cars, seeing promotional campaigns and product placement, being involved in discussions regarding motor vehicles, using
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In the United States, over $3B worth of coupons and rebates are redeemed each year – indicating that it is an effective form of sales promotion.According to various academic studies, around 20% to 30% of consumers will be actively involved in the collection and redemption of coupons. These consumers tend to be more price sensitive
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Sales promotions are short-term incentives designed to drive sales. They are part of the promotional mix within the marketing 4P’s. Because they often carry pricing incentives, such as discounts, they also have a crossover with the pricing mix in the 4P’s as well.Two common promotional vehicles used in a sales promotion program are coupons and
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Sales promotions are short-term incentives designed to drive sales. They are part of the promotional mix within the marketing 4P’s. Because they often carry pricing incentives, such as discounts, they also have a crossover with the pricing mix in the 4P’s as well.Sales promotions are usually executed through retailers, but service firms and other direct
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Let’s evaluate the key differences between the evolving IMC definitions to understand how the perception and role of integrated marketing communications has progressed.Broader than just consumersThe audience is much broader than just consumers. While communicating to consumers obviously remains very important and probably the focus of communication for most firms – firms also need to
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Marketing strategy in the promotional eraToday most firms operate in line with the marketing concept or the societal marketing concept. However, if we go back in time, firms tended to operate with a sales and/or promotional focus.This video highlights Crocker Bank from 1970. It is taken from a documentary on the advertising industry entitled Art
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NAB’s Repositioning in the Australian Banking MarketThis video highlights a major campaign undertaken by the National Australia Bank (NAB). As you will see, this is probably one of the best executed campaigns that you will see, given that it uses so many different communication tools and its core message was effectively communicated in a very
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