Lesson 2 Wrap-Up and Looking Ahead

 

Summary

This lesson examined the strategic communication functions of identifying markets, segmenting markets, target marketing, and positioning:

• Identifying markets and using market research techniques to find consumer groups with unmet needs.
• Understand the role of target marketing, the relationship between ease of measurement diagnostics, and how marketers use geographic, demographic, and psychographic variables to segment markets.
• The fundamentals of positioning including frame of reference, point(s) of difference, reason(s) to believe, and repositioning and rebranding.

By now, you should understand that the function of all elements of marketing communications programs is to communicate. Lesson 2 illustrated how companies target consumers and how they position their products or services in the marketplace. They are increasingly having to become more innovative in their approaches as it is becoming increasingly difficult to communicate with consumers through traditional media (e.g., TV, radio, print). Lesson 3 explores how those involved with the implementation of IMC programs need to understand the communications process and what it means in terms of how they create, deliver, manage, and evaluate messages about their company or brand. The lesson will also explore the fundamentals of communications and models on how consumers respond to advertising and promotional messages.

Check and Double-Check

By the end of this lesson, make sure you have completed the readings and activities found in the Lesson 2 Course Schedule.

Looking Ahead

As discussed in Lesson 2, the fundamental differentiating device for products is the brand. Without brands, consumers couldn’t tell one product from another. Branding decisions can be difficult and that is why companies invest a significant amount of resources—human and capital—to build and protect their brands. In Lesson 3, the marketing process and the role of advertising and promotion in an organization’s integrated marketing communications (IMC) program will be explored. The concepts of target marketing and market segmentation will also be explored.