Sales Analysis: Sophisticated organizations track sales in terms of “sales variance” – the deviation from the target figures – which allows an immediate picture of deviations to become evident. It also helps coordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments, which is a key component of integrated marketing. Importance 7. Ensure the selection of communication tools which are suitable for each stage. Another model developed by Nowak and Phelps (1994) which demonstrates the steps for the implementation of IMC both at the strategic and tactical level. Events such as news conference, sports are very useful to communicate messages to target audience. What is Integrated Marketing Communication: Meaning, Definition, Features, Importance, Tools, Implementation and Other Details Integrated Marketing Communications (IMC) – Introduction and Meaning In the past three decades, the perspective towards marketing communication changed from it being specific variable oriented to being more integrated where all promotional tools are given … 3. Though absolute sales might grow in an expanding market, a firm’s share of the market can decrease, which bodes ill for future sales when the market starts to drop. Or use it to create really cool photo slideshows - with 2D and 3D transitions, animation, and your choice of music - that you can share with your Facebook friends or Google+ circles. The lack of expertise is not just in managers, but also in agencies. The Integrated Marketing Communication can be defined as under: “A management concept that is designed to make all aspects of marketing communication such as – advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather than permitting each to work in isolation.” – ‘The American Marketing Association’. It enhances the image of the organization as it sends all customers a consistent message about the company and its brands. Who will benefit from the new program? Now there are more people, who are blogging, besides the celebrities and experts. Role 6. Hindustan Unilever also sells its water purifier ‘Pureit’ through a direct marketing and personal selling exercise. The marketer needs to ensure that consistency and a thematic harmonization takes place among the promotional tools employed by the company. Internet itself can promote a product. Continuous monitoring of performance against predetermined targets is essential in achieving effective & efficient integrated marketing communications. Indeed, the bottom line of increasing revenue and profit are still the same. As it gives an immediate feedback, the personal selling is a powerful tool in the promotional mix. It also involves low cost, as there is no direct expenditure to buy the time or space in a channel or a publication. Therefore, two big budgeting decisions should be resolved up front: When determining a budget for an integrated marketing plan, it is important for managers to understand the components of IMC in order to allocate funds properly. Improve each year. And all of this can be converted into internal power battles or turf wars where specific managers resist having some of their decisions and budgets changed. Unfortunately, some organisational structures isolate communication, data and even managers from one another. For example, 70% will advance the reputation of the company and 30% will build “steeples” – the critical core themes that make a difference, which are usually only built one at a time. Marketing communication needs to create a strong pull factor for the product either through building a strong brand image or an intense commercial message delivery to gain enough of attention and sales over the short period of time. besides Print Advertisement in newspaper and magazines and TV Commercials (TVC). IMC can restrict creativity. As there have been decline in the audience size for many media, it helps to develop more efficient and effective marketing communications program. Development of a Good Marketing Information System: The development of a good marketing information system is required which defines who needs what information and when. Our mission is to provide an online platform to help students to discuss anything and everything about Economics. But in the case of cars, the objective of the advertising campaign is to achieve both the goals of influencing the customers to buy and have a positive image around them. Whenever a company likes to give a short term incentive to the consumer, internet also becomes one of the ways to reach consumers. Organizations are looking beyond their traditional advertising agencies and turning to other marketing communication firms to work on development of their integrated marketing programs. The main cause for this is that Organisations more often than not, fail to integrate the communication sent through various communication channels. Now you can also find online communities for various products and services on Facebook, Orkut or Twitter. The Role of Integrated Marketing Communications: The role of the integrated marketing mix is to help the organisation achieve the objectives of marketing communications by: i. The IMC approach has been successfully used by Tango, the soft drinks company. Financial Analysis: In theory, the “bottom line” of all marketing activities should be net profit. Characters from Tango advertisements also appeared in unlikely places, underlining the idiosyncrasy and anarchic image of the brand message- for example, one character was seen standing behind a senior UK politician as he was being interviewed by ‘News at Ten’ in Parliament Square.