DCSA2014006

WHAT IS MARKETING COMMUNICATION MIX ?

It is the specific mix of advertising, personal selling, sales promotion and public relation a company uses to achieve its marketing and advertising goals.

It has been criticized as an “inside-out marketing” approach that is a relatively simple matter of bundling promotional mix elements together so they have one look and speak with one voice. As IMC contin- ues evolve, both academicians as well as practitioners are recognizing that a broader perspective is needed that views the discipline from a more strategic perspective.

A CONTEMPORARY PERSPECTIVE OF IMC's -

As marketers become more sophisticated and develop a better understanding of IMC,they are recognizing that it involves more than just coordinating the various elements of their marketing and communications programs into a “one look, one voice” approach. As IMC evolves, it is being recognized as a business process that helps companies identify the most appropriate and effective methods for communicating and building relationships with customers and other stakeholders. Don Schultz of Northwestern University has developed what many think is a more appropriate, definition of IMC, as follows:

  

Integrated marketing communication is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates and other targeted relevant external and internal audiences. The goal is to generate both short-term financial returns and build long-term brand and shareholder value.

Externally these include customers, prospects, suppliers, investors, interest groups, and the general public. It also views internal audiences such as employees as an important part of the IMC process. Schultz also notes that this definition reflects the increasing emphasis that is being placed on the demand for accountability and measurement of the outcomes of marketing communication programs as well as marketing in general.

DISCUSS THE 6 FORMS OF IMC's ?                                                   

          The    Promotional Mix

           Advertising             Direct marketing          Interactive/ 

                                                                             Internet marketing     Sales promotion     Publicity/ 

                                                                                                                                                Public relations       Personal selling

Advertising

Advertising is defined as any paid form of nonpersonal communication about an organisation, product, service, or idea by an identified sponsor. The paid aspect of this definition reflects the fact that the space or time for an advertising message generally must be bought. An occasional exception to this is the public service announcement (PSA), whose advertising space or time is donated by the media.

The non-personal component means that advertising involves mass media (e.g., TV, radio, magazines, newspapers) that can transmit a message to large groups of individuals, often at the same time. The non-personal nature of advertising means that there is generally no opportunity for immediate feedback from the message recipient (except in direct-response advertising). Therefore, before the message is sent, the advertiser must consider how the audience will interpret and respond to it.

Advertising is the best-known and most widely discussed form of promotion, probably because of its pervasiveness. It is also a very important promotional tool, particularly for companies whose products and services are targeted at mass consumer markets such as automobile manufacturers, packaged goods, and drug companies.

Direct  Marketing

One of the fastest-growing sectors of the Ghanaian and U.S.economy is direct marketing, in which organizations communicate directly with target customers to generate a response and/or a transaction. Traditionally, direct marketing has not been considered an element of the promotional mix. However, because it has become such an integral part of the IMC program of many organizations and often involves separate objectives, bud- gets, and strategies, we view direct marketing as a component of the promotional mix. Direct marketing is much more than direct mail and mail-order catalogs. It involves a classification of advertising. They include;

 National Advertising

National Advertising is adverts done by large companies on a nationwide basis or in most regions of the country. Most  of the ads for well-known companies and brands that are  seen on prime-time TV or in other major national or regional media are  examples of national advertising. The goals of national advertisers are  to inform or remind consumers of the company or brand and its features, benefits, advantages, or uses  and to create or reinforce its image so that consumers will be predisposed to purchase it.

 Retail/Local Advertising

Advertising done by retailers or local merchants to encourage consumers to shop at a specific store, use a local service, or patronize a particular establishment. Retail or local advertising tends to emphasize specific patronage motives such as price, hours of operation, service, atmosphere, image, or merchandise assortment. Retailers are concerned with building store traffic, so their promotions often take the form of direct-action advertising designed to produce immediate store traffic and sales.

 Interactive Media

Over the past decade we have been experiencing perhaps the most dynamic and revolutionary changes of any era in the history of marketing, as well as advertising and promotion. These changes are being driven by advances in technology and developments that have led to dramatic growth of communication through interactive media, particularly the Internet. Interactive media allow for a back-and-forth flow of information whereby users can participate in and modify the form and content of the information they receive in real time. Unlike traditional forms of marketing communications such as advertising, which are one-way in nature, the new media allow users to perform a variety of functions such as receive and alter information and images, make inquiries, respond to questions, and, of course, make purchases.

The interactive medium that is having the greatest impact on marketing is the Internet. While     the Internet is changing the ways companies design and implement their entire business and marketing strategies, it is also affecting their marketing communications programs.

  

Sales Promotion

The next variable in the promotional mix is sales promotion, which is generally defined as those marketing activities that provide extra value or incentives to the sales force, the distributors, or the ultimate consumer and can stimulate immediate sales. Sales promotion is generally broken into two major categories: consumer-oriented and trade-oriented activities.

Consumer-oriented sales promotion is targeted to the ultimate user of a product or service and includes couponing, sampling, premiums, rebates, contests, sweepstakes, and various point-of-purchase materials. These promotional tools encourage consumers to make an immediate purchase and thus can stimulate short-term sales. 

Trade-oriented sales promotion is targeted toward marketing intermediaries such as wholesalers, distributors, and retailers. Promotional and merchandising allowances, price deals, sales contests, and trade shows are some of the promotional tools used to encourage the trade to stock and promote a company’s products.

Publicity/Public Relations

Another important component of an organization’s promotional mix is publicity/public relations.

Publicity refers to non personal communications regarding an organization, product, service, or idea not directly paid for or run under identified sponsorship. It usually comes in the form of a news story, editorial, or announcement about an organization and/or its products and services. Like advertising, publicity involves non personal communication to a mass audience, but unlike advertising, publicity is not directly paid for by the company. The company or organization attempts to get the media to cover or run a favorable story on a product, service, cause, or event to affect awareness, knowledge, opinions, and/or behavior. Techniques used to gain publicity include news releases, press conferences, feature articles, photographs, films, and videotapes.

An advantage of publicity over other forms of promotion is its credibility. Consumers generally tend to be less skeptical toward favorable information about a product or service when it comes from a source they perceive as unbiased.

 

Personal Selling

The final element of an organization’s promotional mix is personal selling, a form of person-to-person communication in which a seller attempts to assist and/or persuade prospective buyers to purchase the company’s product or service or to act on an idea. Unlike advertising, personal selling involves direct contact between buyer and seller, either face-to-face or through some form of telecommunications such as telephone sales. This interaction gives the marketer communication flexibility; the seller can see or hear the potential buyer’s reactions and modify the message accordingly. The per- sonal, individualized communication in personal selling allows the seller to tailor the message to the customer’s specific needs or situation.

Personal selling also involves more immediate and precise feedback because the impact of the sales presentation can generally be assessed from the customer’s reactions. If the feedback is unfavorable, the salesperson can modify the message. Personal selling efforts can also be targeted to specific markets and customer types that are the best prospects for the company’s product or service.

 Integrated marketing Communication has become a must in recent times because of how sophisticated consumers have become.The various forms of IMC work interrelated to achieve a marketing and of course sales goal of an institution. 

 Source : http://www.academia.edu/2963528/Integrated_Marketing_Communications