Integrated Marketing Communication
Integrated Marketing Communication
Integrated Marketing Communication
1. 2. 3. 4. 5. Marketing Communication. Types of Messages. IMC Benefits of IMC MCM & Elements of IMC
Marketing Communication
Tom Duncan : Marketing Communication is a collective term for all the various types of planned messages used to build a brand.
Types of Messages
A Company has to manage four types of messages : 1. Planned External communication activities 2. Inferred For premium products selling product from prestigious store 3. Maintenance Interaction of Customer Service Cell & Customer 4. Unplanned News reports, Trade Publications etc.
According to American Marketing Association : IMC is a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service or organization are relevant to that person and consistent over time.
A Marketing Communication Mix is the selection of Marketing Communication functions used at a given time as part of a marketing program.
7. Sponsorship 8. Point of Purchase Display 9. Exhibition 10. Packaging 11. Internet 12. Corporate Identity
Unlike most advertising and personal selling, it does not include a specific sales message PR can take many forms, including newspapers, annual reports, lobbying, TV talk shows and support of charitable or civic events
Determining the Promotion Mix Designing an effective promotion mix involves strategic decisions about five factors: 1. target audience, 2. objective of the promotion effort, 3. nature of the product, 4. stage in the products life cycle, and 5. amount of money available for promotion.
Several product attributes influence the promotion mix such as: - unit value, - degree of customization, and - presale and postsale service
- Regardless of the most desirable promotional mix, the amount of money available for promotion is often the ultimate determinant of the mix - Low budget approaches include viral marketing and weblogs
The Promotion Budget - There are four common promotional budgeting methods (frequently discussed in connection with the advertising budget, but may be applied to any promotional activity): - Percentage of Sales: - Promotional budget is related to company income - But: Following this approach, management is making promotion a result of sales when, in fact, it is a cause of sales - As a result, using the percentage-of-past-sales method reduces promotional expenditures when sales are declining, just when promotion usually is most needed! - All Available Funds
The Promotion Budget - Following Competition: - A weak method, but one that is used occasionally - There are at least two problems: A firms competitor may be as just in the dark regarding how to set a promotional budget; a companys promotional goals may be quite different from its competitors - Task or Objective: - Best approach for establishing the promotional budget - Determine the tasks or objectives the promotional program must accomplish and then decide what they will cost
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