Imc and Marketing Comparison
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IMC and Marketing Comparison
In todays competitive, fast paced world businesses agree that Integrated Marketing Communications (IMC) is vital to success. But what is IMC? This is a question with several answers. It can be defined as: “The coordination and integration of all marketing communication tools, avenues, and sources within a company into a seamless program that maximizes the impact on consumers and other end users at a minimal cost” (Clow, 2004). Medill Integrated Marketing Communications program at Northwestern University describes it as “the management of all organizational communications that builds positive relationships with potential customers and stakeholders, including employees, legislators, the media, the financial community, and other segments of the public” (medill, 2004). Both definitions show that the customer is the center of all IMC plans. Though the customer is the focus in traditional marketing plans, IMC takes the process further. With ever changing technology, new global competitors and the change in power to the consumer, companies must step up and differentiate themselves from the competition. IMC gives them a way to do this.
To create the marketing plan a company may use the traditional marketing mix show below:
FIGURE 1.3 Traditional Marketing Mix
(Clow, 2004)
For this plan to transcend into an IMC plan the four elements of the marketing plan must blend together to present a unified message (Clow, 2004). For example, if a company would like to portray themselves as one who stresses quality in their product, all other aspects must reflect this. If this company was an organic daycare stressing quality in their service, the price would reflect this by being above average, the distribution would reflect this with location being in an upscale neighborhood and the promotion would reflect by stressing the quality of life, the quality products served and the superior staff. “Everything organizations do [profit or not-for-profit] — from the way the phone is answered to product packaging, billing, and service responses — sends a message to the audiences that are crucial to an organizations success” (Medill, 2004).
To be certain each aspect of the plan is integrated, to achieve a unified message, there are several steps to follow:
Situation analysis – the process of examining factors from the organizations internal and external environments.
Marketing objectives – these objectives normally are spelled out in the areas of sales, market share, competitive position, and desired customer actions.
Marketing budget – based on marketing objectives
Marketing strategies – include the ingredients of the marketing mix plus all positioning, differentiation, and branding strategies the firm wants to use
Marketing tactics – guide the day-by-day steps necessary to support marketing strategies
Evaluation of performance (Clow, 2004).
The importance of an IMC plan comes from the changing business environment. Changes in technology, competition and the channels of power have brought new challenges for business to overcome. The technologies available today that collect purchasing data make it so that “marketers can quickly determine who is buying a companys products and identify the best communication channels to reach those customers” (Clow, 2004). Technology also led to new competitors since consumers are able to make purchases from around the world. With greater competition a company must distinguish itself to draw the consumer. This shifted the channel of power over to the consumer.