Advantages and Disadvantages of the Major Marketing Tools under IMC5
Sales Promotion Campaigns6
Direct Marketing Approach7
Application to Product/Service- Marketing Decision Making8
Overview of the Chosen Product8
Description of the IMC Approach for Sugru8
Rationale for choosing the Message10
Communication Tools & Product10
Use of Internet in the chosen IMC Approach10
Measuring Advertising Effectiveness11
Effectiveness of the Method for Product11
In this assignment, the various aspects of the IMC would be thoroughly described and analyzed. The advantages and disadvantages of each component under IMC would also be discussed i.e. advertising, direct marketing, sales promotion, publicity/public relations and personal selling. Based on our chosen product, Sugru, the most suitable strategy for its marketing would be highlighted. Sufficient justifications would also be given how the chosen marketing strategy would aid the product. A clear and well speculated rationale would be discussed and how it will aid business in the potential target market. Also, the role of the internet would be assessed and how it would allow measuring the effectiveness of advertising. Finally, the decision would be thoroughly justified.
Unit: 3 - Marketing Decision Making
Integrated Marketing Communications (IMC)
The Integrated Marketing Communications is quite simple concept. The IMC ensures that all kinds of advertisement and communication messages are adequately linked together (Redilus, 2007) It can be said that for effective functioning, all the components of IMC including its promotion tools should be well synchronized and work in harmony (Clow et. al, 2006).
Marketing Communication Tools
The marketing communication tools that fall under IMC are as follows (Bach, 2006):
The foundation is concerned with the basic strategic understanding of the service or product. It incorporates the major changes in technology, changes in customer's attitudes and spending behaviors. It also includes the innovations and changes introduced by competitors.
The Corporate Culture
The corporate culture component under the IMC holds that the basic capabilities, vision, culture and personality of the corporation should be well in line with the company's objectives.
The Brand Focus
The brand focus includes the corporate identity, slogan and logo of the company or any other feature related to the message anticipated by the company.
It involves the overall experience of the customer. It includes elements such as product, packaging, delivery, service etc.
The promotional tools entail the database marketing, customer relationship management activities, sponsorship programs and public relations; designed to increase the revenues of the company by selling the product or service.
In today's competitive world, customized softwares allow companies to track the customer behavior and to adapt accordingly to achieve corporate success. Various CRM functions i.e. customer retention, target specific marketing are included in it.
Advantages and Disadvantages of the Major Marketing Tools under IMC
Under Integrated Marketing Communications, the basic include public relations, advertising, direct and indirect marketing (Pride, 1989). Many experts on the subject have also suggested that the product design/package and most importantly Internet communications be included under ...