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== Session 9 and 10 - Investor relations == | |||
'''Problem:''' Why investor relations are important? | |||
'''Learning objectives:''' | |||
# How to communicate with investors? | |||
# How to build trust among the company and the investors? | |||
# How do stakeholders/shareholders influence company corporate strategy? | |||
Keywords: Stakeholder, trust, communication strategy, CRM and challenges | |||
== Session 8 and 9 == | |||
== Session 7 and 8 - Media agencies and big data == | |||
'''Problem''': Why companies use media agencies? | |||
'''Learning objectives:''' | |||
# What is the process & interaction between a client company and a media agency? | |||
# How to make use of big data to get customer insight? | |||
# What is PESO? | |||
Keywords: PESO, consumer media habits, customer insights | |||
* '''[[w:Media agency]]''' redirects to advertising agency | |||
::* An '''[[w:advertising agency|advertising agency]]''' or '''ad agency''' or '''advert agency''' is a service based [[w:business|business]] dedicated to creating, planning, and handling [[w:advertising|advertising]] (and sometimes other forms of [[w:promotion (marketing)|promotion]]) for its clients. | |||
::** An ad agency is generally independent from the client (it may be an internal department or even an internal agency) and provides an outside point of view to the effort of selling the client's products or services. | |||
::**An agency can also handle overall [[w:marketing|marketing]] and [[w:brand|brand]]ing strategies and [[w:sales promotion|sales promotion]]s for its clients. ( Wikipedia ) | |||
* '''[[w:Media planning|Media planning]]''' is generally the task of a [[w:media agency|media agency]] and entails finding media platforms for a client's brand or product to use. The job of media planning is to determine the best combination of media to achieve the marketing campaign objectives. ( Wikpedia ) | |||
* '''PESO''' == '''P'''aid, '''E'''arned, '''S'''hared, '''O'''wned media | |||
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== Session 6 and 7 - Communication plan == | == Session 6 and 7 - Communication plan == | ||
'''Problem''': What does a communication plan involve? | '''Problem''': What does a communication plan involve? | ||
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:# How do trends influence the communicattion planning ? | :# How do trends influence the communicattion planning ? | ||
:# How to measure the effectiveness of the communication plan | :# How to measure the effectiveness of the communication plan | ||
* '''[[w:Communication planning|Communication planning]]''' is the [[w:art|art]] and [[w:science|science]] of reaching target audiences using [[w:marketing|marketing]] communication channels such as [[w:advertising|advertising]], [[w:public relations|public relations]], experiences or [[w:direct mail|direct mail]] for example. It is concerned with deciding who to target, when, with what message and how. ( Wikipedia ) | |||
* The '''[[w:promotional mix|promotional mix]]''' describes a blend of promotional variables chosen by marketers to help a firm reach its goals.<ref name=twsBoone> Contemporary Marketing 2011 (textbook), Louis Boone, David Kurtz, Cengage Learning, Jan 1, 2010, [http://books.google.com/books?id=R5rrSPNyUEgC&pg=PA500&dq=%22promotional+mix%22&hl=en&sa=X&ei=6S79U_unBvjJsQSD64CwAQ&ved=0CC0Q6AEwAQ#v=onepage&q=%22promotional%20mix%22&f=false Elements of the promotional mix], Retrieved Aug. 26, 2014</ref><ref name=twsLamb> Essentials of Marketing, Charles Lamb, Joe Hair, Carl McDanie, Cengage Learning, Jan 1, 2011, [http://books.google.com/books?id=LcsIAAAAQBAJ&pg=PT542&dq=%22promotional+mix%22&hl=en&sa=X&ei=6S79U_unBvjJsQSD64CwAQ&ved=0CDQQ6AEwAg#v=onepage&q=%22promotional%20mix%22&f=false Discuss the elements of the promotional mix], Retrieved Aug. 26, 2014, (see page 514+)</ref><ref name=twsMullin> Sales Promotion: How to Create, Implement and Integrate Campaigns that Really Work, Roddy Mullin, Kogan Page Publishers, Apr 3, 2010, [http://books.google.com/books?id=ZWCe0Z-xOjIC&pg=PA33&dq=%22promotional+mix%22&hl=en&sa=X&ei=6S79U_unBvjJsQSD64CwAQ&ved=0CGkQ6AEwCQ#v=onepage&q=%22promotional%20mix%22&f=false The Promotional Mix], Retrieved Aug. 26, 2014, (see page 30+)</ref><ref name="Harrell Book">{{cite book|last=Harrell|first=Gilbert D.|title=Marketing: Connecting with Customers|year=2008|publisher=Chicago Education Press|isbn=9780979830402|pages=286}}</ref><ref name=twsLongenecker> Small Business Management: Launching and Growing Entrepreneurial Ventures, Justin Longenecker, J. Petty, Leslie Palich, Frank Hoy, Cengage Learning, Sep 27, 2011, [http://books.google.com/books?id=ZXkJAAAAQBAJ&pg=PT524&dq=%22promotional+mix%22&hl=en&sa=X&ei=6S79U_unBvjJsQSD64CwAQ&ved=0CGEQ6AEwCA#v=onepage&q=%22promotional%20mix%22&f=false The Promotional Mix], Retrieved Aug. 26, 2014, "...how a business combines its promotional methods...blend of nonpersonal, personal, and special forms of communication aimed at a target market..."</ref> It has been identified as a subset of the [[w:marketing mix|marketing mix]].<ref name=twsBoone/> | |||
* '''[[w:AIDA (marketing)|AIDA]]''' is an [[w:acronym|acronym]] used in [[w:marketing|marketing]] and [[w:advertising|advertising]] that describes a common list of events that may occur when a consumer engages with an advertisement. | |||
::** '''A''' – attention (awareness): attract the attention of the customer. | |||
::** '''I''' – interest of the customer. | |||
::** '''D''' – desire: convince customers that they want and desire the product or service and that it will satisfy their needs. | |||
::** '''A''' – action: lead customers towards taking action and/or purchasing. ( Wikipedia ) | |||
=== Different communication plan models === | |||
* A communication plan is a written document that describes | |||
::*what you want to accomplish with your association communications (your objectives), | |||
::*ways in which those objectives can be accomplished (your goals or program of work), | |||
::*to whom your association communications will be addressed (your audiences), | |||
::*how you will accomplish your objectives (the tools and timetable), and | |||
::*how you will measure the results of your program (evaluation). <ref>http://www.hieran.com/comet/howto.html</ref> | |||
*A communications plans should answer concretely the following six questions: | |||
::*Who Will be the Key Staff Doing the Communicating? | |||
::*What are the Communications Goals and Objects? | |||
::*Who is the Target Audience(s)? | |||
::*When and How Frequently to Plan to Communicate? | |||
::*How to Communicate the Results? | |||
::*What Resources Are Available for Communicating? <ref>http://toolkit.pellinstitute.org/evaluation-guide/communicate-improve/develop-a-communications-plan/</ref> | |||
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=== How do trends affect communications planning? === | |||
*Trends affecting communications planning: | |||
::* Ubiquitous mobile access | |||
::* Pervasive social media utilisation | |||
::* | |||
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=== How to measure the success of communcation mix === | |||
[[w:Communications mix]] redirects to [[w:promotional mix]] | |||
An effective communicator gets his point across while maintaining a productive relationship with the other party. This is extremely important if you plan to run a small business. The way you communicate with your customers, employees and other stakeholders can have a significant effect on your company's overall success. Keep a few key concepts in mind as you measure whether you're communicating effectively.<ref name="chron.com">http://smallbusiness.chron.com/measure-effective-communication-3180.html</ref> | |||
'''Step 1''' | |||
* Conduct regular surveys of your employees and customers to determine if you're communicating effectively. [...] For example, | |||
::**Ask customers, "How did you learn about our latest product or service?" | |||
::**Ask employees, "Do your superiors and team members clearly communicate information to you?" Have them rate their replies on a one-to-five [ liekert ] scale. | |||
'''Step 2''' | |||
* Post information online in blog format to better communicate with employees (intraoffice) and customers (public information). | |||
* Use a website tracking service to monitor visiting patterns and see how long visitors remain on your various website pages. | |||
::** If you see visitors spend several minutes reading content and making positive comments, then you know your communication is effective. | |||
::** If they click away in a few seconds, that could mean you are not sufficiently capturing their attention and effectively delivering your message. | |||
'''Step 3''' | |||
Measure the progress of specific work projects to ascertain whether you and your employees are communicating effectively [with each other]. | |||
'''Step 4''' | |||
Ask your employees to repeat verbal instructions back to you to see if they fully understand. You can simply ask each employee to send you an email summarizing your assignment and how they plan to get it done. <ref name="chron.com"/> | |||
== Session 5 and 6 - Brand strategy == | == Session 5 and 6 - Brand strategy == | ||