Chapter 16 Retail Communication Mix McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Questions ■ What is a brand? How can retailers build brand equity for their stores and merchandise? ■ What are the primary methods retailers use to communicate with their customers? ■ Why do retailers need to have an integrated marketing communication program? ■ What steps are involved in developing a communication program? ■ How do retailers establish a communication budget? 16-2 What is the Purpose of the Retailer’s Communication program? ■ Informs customers about the retailer as well the merchandise and services it offers ■ Plays a role in developing customer loyalty 16-3 Effects of the Communication Program Long-term Build image (brand equity) of the retailer Differentiate from competition Short-term Increase Traffic Increase Sales 16-4 What is a Brand? Distinguishing name or symbol, such as a logo, that identifies the products or services offered by a seller and differentiates those products and services from those offered by competitors The McGraw-Hill Companies, Inc./John Flournoy, photographer The McGraw-Hill Companies, Inc./Bob Coyle, photographer 16-5 Why are Brands Valuable? Value to Retailers Value to Customers ■ Attract Customers ■ Build Loyalty ■ Higher Prices Leading to Higher Gross Margin ■ Simplifies Buying Process ■ Reduces Time and Effort Searching for Information About Merchandise/Retailer ■ Provides social and psychological benefits 16-6 How to Build Strong Retail Brands ■ Build brand awareness The ability of a potential customer to recognize or recall the retailer’s brand Desire top of mind awareness ■ Build positive brand associations Anything linked to or connected with the brand name in a consumers’ memory ■ Consistently reinforce Consistently communicate the same message to customers over time and across all elements of the communication program and the retail mix 16-7 McDonald’s Brand Associations Fast Food Golden Arches Big Mac McDonald’s French Fries Ronald McDonald Clean 16-8 Wal-Mart Associations 16-9 Integrated Marketing Communications ■ A program that integrates all of the communication elements to deliver a comprehensive, consistent message 16-10 Integrated Marketing Communications Present a Consistent Brand Image through all Communications with Customers •Sales Promotion •Advertising •Web Site •Personal Selling •Publicity The McGraw-Hill Companies, Inc./Andrew Resek, photographer 16-11 Communication Methods ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Advertising Sales Promotion Store Web Site Personal Selling E-mail program M-Commerce Direct Mail Publicity Special Events and Sponsorships Specialty Items and Collateral Materials 16-12 Advertising ■ Any paid form of nonpersonal communication through the mass media about a good, service, or idea by an identified sponsor. ■ Examples – newspaper, magazine, radio , TV, billboards, yellow pages, internet, and in store advertising 16-13 Sales Promotion ■ Short-term incentives used to encourage customers to visit a store or purchase merchandise during a specific period of time. ■ Examples - coupons, contests, sweepstakes, premiums, free samples, in store demonstrations Boxes of KrustyO’s cereal at a New York 7Eleven stores, temporarily converted into a Kwik-E Mart, to promote the Simpson Movie. Jack Star/PhotoLink/Getty Images 16-14 Publicity News carried by the media about a firm at no charge to the organization for media space. • Newspaper article • TV coverage • Macy’s Thanksgiving Day Parade 16-15 Direct Mail ■ Refers to any brochure, catalog, advertisement, or other printed material delivered directly to the consumer through the mail ■ Use of data collected through POS terminals ■ Use of list brokers 16-16 Personal Selling ■ Direct face to face communication between sellers and potential buyers 16-17 Steps in Developing a Retail Communication Program Establish Communication Objectives Determine the Communication Budget Determine Communication Strategies and Tactics Implement and Evaluate the Plan 16-18 Setting Objectives ■ Definition Specific goals related to the retail communication mix’s effect on the customer’s decision-making process. ■ Examples Create awareness of store Create knowledge of store offerings Correct misconceptions, improve customer attitudes Remind customers of store ■ Criteria Clearly defined target market Degree of changed desired Time frame 16-19 Communication Objectives & Stages in the Consumers Decision-Making Process 16-20 Communication Budget Methods ■ ■ ■ ■ Percent of sales Affordable Competitive Parity Objective and Task 16-21 Objective and Task Method Establish Objectives (create awareness of new product among 20 percent of target market) Determine Specific Tasks (advertise on market area television and radio and local newspapers) Estimate Costs Costs Associated Associated with with Tasks Tasks Estimate (determine costs costs of of advertising, advertising, promotions, promotions, etc.) etc.) (determine © 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin