INTEGRATED MARKETING COMMUNICATIONSTo begin with I.M.C. we should recall the 4Psof MARKETING MANAGEMENT: PRODUCT is a thing which satisfies the need of consumer andcan be offered for exchange. PRICE is the value of the product for exchange. PROMOTION refers to the marketing activities required tocommunicate the product . PLACE refers to the marketing point where products areavailable for exchange.
WHAT IS I.M.C.? According to AMERICAN ASSOCIATION OF ADVERTISING AGENCIES- INTEGRATED MARKETING COMMUNICATION is a concept of marketing communications planning that recognises the added value of a comprehensive plan. The tools of I.M.C. are:1. ADVERTISING.2. SALES PROMOTION.3. PUBLIC RELATIONS.4. PERSONAL SELLING.5. DIRECT MARKETING.6. INTERACTIVE MARKETING.
ADVERTISING Any paid form of non personal presentation by an identified sponsor is ADVERTISING. Ads develops a long term image in the mind of viewers .PRODUCTS requiring Image attention, Pervasiveness and Amplified expressiveness can go for advertisements.It is an expensive tool..
SALES PROMOTIONA variety of short termincentives to encouragepurchase of a product isSALES PROMOTION.FOREg.DISCOUNTS,COUPONS, FREE GIFTS etc…Productswhich requires quickbuyer response and fasttransaction can go for thistool.
PUBLIC RELATIONS In this tool a variety ofprograms,events, aredesigned to promote aproduct or to enhancethe company’s image inpublic.It gives highcredibility, and ability tocatch buyers off guard.
PERSONAL SELLING It is all about face to face interaction with prospective purchasers.It helps in building up buyer’s preference. It has 3 distinctive qualities:1. Personal interaction2. Cultivation3. Response
DIRECT MARKETINGUse of mailtelephone,fax,internetto communicate directlywith customers isDIRECT MARKETING.
INTERACTIVE MARKETINGI.M. are Online activitiesdesigned to engagecustomers to raiseawareness,improveimage,elicit sales.Itallows prospects tobuild brand image.It isfacilated by internettechnology.
FACTORS IN SETTING MARKETING COMMUNICATION MIX.1.TYPE OF PRODUCT MARKET- COMMUNICATION MIX ALLOCATIONS VARY BETWEEN CONSUMER AND BUSINESS MARKETS.Eg. CONSUMER MARKETERS TEND TO SPEND MORE ON SALES PROMOTION AND ADVERTISING WHILE BUSINESS MARKETERS TEND TO SPEND MORE ON PERSONAL SELLING.2.BUYER READINESS STAGE-COMMUNICATION TOOLS VARY IN COST EFFECTIVENESS AT DIFFERENT STAGES OF BUYER READINESS. Eg. ADVERTISING PLAYS IMPORTANT ROLE IN AWARENESS BUILDING STAGE. CUSTOMER CONVICTION IS INFLUENCED BY PERSONAL SELLING.
FACTORS IN SETTING MARKETING COMMUNICATION MIX3.PRODUCT LIFE CYCLE STAGE- COMMUNICATION TOOLS VARY AT DIFFERENT STAGES OF PLC: INTRODUCTION STAGE- ADVERTISING GROWTH STAGE-WORD OF MOUTH SELLING. MATURITY STAGE-ADVERTISING EVENTS DECLINE STAGE-SALES PROMOTION.
CONCLUSIONMODERN MARKETING IS MORE THANDEVELOPING A GOOD PRODUCT.COMMUNICATION SHOULD PROPERLYTRANSMIT THE MESSAGE,AND SHOULDREACH THE TARGET AUDIENCE WITHEFFECTIVE COST BENEFITANALYSIS.MANAGING AND COORDINATINGTHIS PROCESS CALLS FOR INTEGRATEDMARKETING COMMUNICATIONS.