Components & Elements of Integrated Marketing Communication.
Using well-coordinated methods of promotion that are intended to reinforce each other, to achieve the objectives of a marketing campaign is the basic aim of Integrated Marketing Communication.
Advertising and marketing are considered similar to describe selling a product or service to the marketplace. However, they are distinct concepts and understanding the difference is important to ensure you give due attention to each. Advertising refers to the process of actually promoting your product or service to the marketplace. Marketing refers to the strategies and preparation you do to get your product or service ready to sell and identifying the target customers for your product. These two combine to form Integrated Marketing. Integrated Marketing Communication is an effective way to achieve the best results for the company, in terms of investment in marketing activities. It goes a long way in promoting products and services among target consumers. The idea is to coordinate the firm’s promotional efforts to achieve the best combined effects for the firm. The process involves identifying target consumers, or individuals who are best suited to the purchase of products or services; promoting the brand among them.
The components of Integrated Marketing Communication are as follows:
The Foundation – You need to know the needs, attitudes and expectations of the target customers. Keep a close watch on competitor’s activities. As the name suggests, foundation stage involves detailed analysis of both the product as well as target market. It is essential for marketers to understand the brand, its offerings and end-users.
Brand Focus – Brand Focus represents the corporate identity of the brand.
The Culture – Every organization has a vision and it’s important for the marketers to keep in mind the same before designing products and services. The features of products and services ought to be in line with the work culture of the organization. For example, if organization A‘s vision is to promote green and clean world, its products need to be eco-friendly and biodegradable, in line with the vision of the organization.
Consumer Experience – Marketers need to focus on consumer experience which refers to what the customers feel about the product. A consumer is likely to pick up a product which has good packaging and looks attractive. Products need to meet and exceed customer expectations.
Communication Tools – Communication tools include various modes of promoting a particular brand such as direct selling, advertising, promoting through social media etc.
Integration Tools – Organizations need to keep a regular track on customer feedbacks and reviews. You need to have specific software like customer relationship management (CRM) which helps in measuring the effectiveness of various integrated marketing communications tools.
Promotional Tools – Brands are promoted through various promotional tools such as trade promotions, personal selling and so on. Organizations need to strengthen their relationship with customers and external clients.
Successful marketing involves significant groundwork in terms of clearly studying your target market. Needs of your customers and how to address them, what is important to the customer, how much emphasis you should put on different aspects of your product or service, etc. The branding and messaging you will need to reach different groups will vary, and to ensure a successful advertising campaign you need to ensure you effectively communicate to these groups. The needs and drivers for individuals in their early 20’s differ greatly from individuals in their early 50’s, so taking the time to assess your target market comprehensively is important.
For many target customers, social media is becoming an ever more popular focus for advertising campaign as it can be a very inexpensive way to reach many different users. However, advertising campaigns can be communicated through numerous other venues – radio, television, or online for example, and part of your marketing research will be identifying the most effective venues for your target audience. Integrated marketing communication is intended to bring all of these factors on one platform to enhance the sales and image of the company. A product could have a terrific online campaign, but if your market research has identified seniors as the key target market, that would not likely be the most effective use of your advertising dollars.
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