Marketing communication are messages and related media used to communicate with the market....

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