Integrated MarketingCommunication
MARKETING COMMUNICATION
Marketing communication are messages and related media used to communicate with the market. Marketing
communication is the “promotion” part of the marketing mix, or the “four Ps”:price,place,promotion and product. It
can also refer to the strategy used by a company or individual to reach the target market through various types
of communication.
EIGHT ELEMENTS OF IMC 1. CORPORATE IMAGE
A company’s corporate image sums up the publicly established characteristics of the businesss.This includes what the company claims it does best[known as core competencies],logos ,policies and company culture.
2. BRANDING
Brands are the name generally associated with the product ,group of products or a company. A brand name is meant to evoke a certain set of thoughts and feelings in consumers, and business can charge more for successful Brand-name products.IMC creates branding and is aided by existing brands.
3. MARKET SEGMENTATION
Market segments are sets of consumers grouped together because of similar needs and behavior of characteristics .Marketers research segments to determine what types of products and messages appeal to them.
4. ADVERTISINGAdvertising messages reach the target segment is essential
to IMC plans. Different types of messages match up with the corporate image, branding and market segment preference.
5. MEDIA SELECTION Markets must select the type of advertising
mediums that will best feature the IMC and brand messages.
6. PROMOTIONAL TOOLS
IMC uses consumer promotional tools to enhance branding and attract market segments. Coupons ,rebates ,sales and bonus are examples of promotional tools .
7. PUBLIC RELATIONSPublic relations protect the brand and corporate image by
creating publicity that builds the positive impression of the Company and by reducing the negative event related to business.
8. CUSTOMER RELATIONSHIP MANAGEMENT
CRM programs are designed to instill long-term loyalty in existing customers. CRM tactics include commitment to excellent customer service and keeping a record of current customers in a data base to update them with frequent , personalized messages.
ROLE OF BUSINESS COMMUNICATION IN MARKETING
Business communication take many formsInternal communication between manager or
employeesExternal communication to inform consumers
about company’s product
ROLE1. FUNCTIONS 2. TYPES OF CHANNELS 3. STRATEGY4. CONSIDERATIONS 5. HIRING AN AGENCY 6. FOCUS
1.FUNCTION
Businesses often follows a few basic steps when creating marketing communication
Marketing strategies can also include an analysis of economic market place to determine the strength of consumers' demand and supply of product by competing companies.
This analysis helps businesses to understand how to differentiate their communication from other advertisements
2. TYPES OF CHANNELSMarketing communication channels include
TV commercials, radio ads, print media ads and other traditional marketing channels
Information technology has increased the no. of marketing channels and has increased the target markets
3. STRATEGYThese are divided into two basic groups : DIRECT – businesses uses this strategy by
comparing their products to a leading competitor. This style allow businesses to promote the benefits of their product
INDIRECT – this strategy presents a product’s feature and allow consumers to make up their own mind about the benefits of the products
4. CONSIDERATIONSDemographic group usually respond to
marketing communication in different ways
Using a blanket communication channel or strategy may create or societal confusion.
Tailoring business communication in marketing can companies avoid these negative situations
5. HIRING AN AGENCYUsing a professional marketing agency can
help companies develop effective business communications in marketing.
These agencies have copious amounts of resources regarding economic markets, consumer demand and behavior and other information
6.FOCUSMarketing communication is focused on
product/service, and is primarily concerned with demand generation and
product/service positioning.
MARKETING COMMUNICATIONOBJECTIVES
CREATING PREFERENCE
SHORTENING THE SALES CYCLE
MARKETING COMMUNICATIONIMPORTANCE
Developing strategic vision
Creating brand awareness
Expressing competitive advantage
Fostering goodwill
Attracting talent
Informing investment community
Cost saving
Customer preference
Marketing Communication Process
Sender
Noise
Feedback
Transfer
Mechanism
Decoding
Response
Encoding
Sender
Encoding
Transfer Mechanism
Decoding
Response
Feedback
Noise
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