In this task, we had to ready the trigger which was titled "DAWN DISHES IT OUT: CHANGING CONSUMERS' PERCEPTIONS ON VALUE." There was a written overview about the company and the objectives it wanted to achieve. They then went on to state the tactics they used to meet the objectives and the results that followed.
The team had to try and figure out what IMC was but couldn't come up with a solution so we came up with the problem: how to implement IMC.
We then had to come up with some learning objectives in order to overcome this problem. The objectives we came up with were:
1. What is Integrated Market Communication?
"..the application of consistent brand messaging across both traditional and non-traditional marketing channels and using different promotional methods to reinforce each other." - source
- What is the purpose?
The purpose of IMC is to make sure that there is a constant and clear cut message about a brand through all marketing channels. By doing this, a companies image remains reasonably consistent and there are no mixed messages being sent out to the consumers. It is also possible to convey the same message through different methods and the multiple channels may then reinforce it too.
2. How does a company use IMC?
- What are the tools they use?
- What challenges do they face?
A company starts with tactical coordination and marketing communications. Initially, they focus on the tactical coordination of diverse marketing such as advertising, promotion, direct response, public relations and special events. This focuses on delivering results via marketing communication.
They then move on to redefining the scope of marketing communication. The company would start to examine communication from the customers point of view as this begins to give consideration to all sources of brand and company contact a customer has with the product/service.
The third level would be applying information technology. An organisations application of empirical data using IT to provide a basis identity and value, as well as monitoring the impact of integrated internal and external communication programs to key customer segments over time.
The final stage would be financial and strategic integration. They would emphasise shifts to use the skills and data generated in previous stages to drive corporate strategic planning using a customers information and insights. The company would then re-evaluate their financial information infrastructure. - source
Another source states that marketing plans can take many forms but tend to include five main elements:
1. A detailed situation analysis that consists of an internal marketing audit and review
and an external analysis of the market competition and environmental factors.
2. Specific marketing objectives that provide direction, a time frame for marketing
activities, and a mechanism for measuring performance.
3. A marketing strategy and program that include selection of target market(s) and
decisions and plans for the four elements of the marketing mix.
4. A program for implementing the marketing strategy, including determining specific
tasks to be performed and responsibilities.
5. A process for monitoring and evaluating performance and providing feedback so
that proper control can be maintained and any necessary changes can be made in
the overall marketing strategy or tactics.
A challenge that may be faced is trying to find a target market that has unfulfilled needs. There are so many products in the world that it is near impossible to find a product or service that has not already been started up.
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