Reflective notes IMC
The first module was on 9th of the August 2021 the session started with the question
what is marketing communication? According to me marketing communication is a
way of marketing in which different company uses different marketing channels and
tools, to reach to its desired customers it also includes direct marketing, media
advertising and some of the channel tools of different media.
The next topic that we discussed was about the promotion topic which is also a part of
marketing mix. From this the company tries to get the attention of the desired
customers.
After this topic we did some of the deep analysis on the topic of why do companies
need promotion? They do so to know the buying behaviour of the customer what the
companies actually do there is they generate the need of the customer and excited
them to buy the products of the company.
Next topic that was discussed was about the what is promotional mix? It is basically a
different marketing technique that is being used by the different marketers so that they
can reach to a very large chunk of the audience some of the different elements of it
are personal selling, advertising, digital marketing and many more.
After this topic we discussed about the advantage and disadvantage of the
promotional mix in that class it was discussed about the advantage and disadvantage
of each and every element.
Then there was discussion on additional elements of marketing communication:
Packaging, Events and sponsorships, Customer service all these elements today
have become important today packaging attracts customers a lot it has become very
important for marketers to focus on packaging and similarly customer service has
also become important.
Then we started with the discussion on IMC As we know due to increasing global
rivalry, technological advances and more up-to-date clients, it is important that
companies have a substantial influence on customers and markets. IMC is a such a
step towards an integrated synergy efficiency method.
Many businesses still depend on one or two tools for communicating to attain their
goals. This practice continues Although large market fragments are divided into
several minimarkets, each need its own Approach; multiplication of new media
forms; and increasing customer sophistication.
IMC is a management concept designed to operate together as a united force in all
parts of marketing communication including advertising, sales promotion, public
relations and direct marketing.
Instead, then allowing everyone to work alone. IMC coordinates and integrates all
tools, channels, functions and marketing communication. In a firm source into a
seamless programmed that boosts consumer and other impacts
A minimum cost for end consumer IMC is a customer relationship management
process that primarily builds brand value through communication efforts.
Then there was discussion on factors contributing to IMC Media fragmentation,
better audience assessment through database technology and proliferation of
new ways to reach consumers, Empowered customers and their skepticism
towards commercial messages in traditional advertising, Increased advertising
clutter
· Media fragmentation: marketers can access a wide range of advertising
channels. Tv now deliver "narrow viewing" that allows advertisers in
particular areas, like airlines and local supermarket counters to attract
customers. There has also been dramatic growth in traditional media.
· Better viewers assessments using DB advanced technologies: Companies
have created various communication potential over and above main stream
media to develop, collect, and maintain a database. Customer and non-
customer characteristics can be created through databases. This knowledge is
vital for market segments to be identified.
· Empowerment for consumers: Customers generally are stronger, more
advanced. Empowered consumers are more dubious about trade
communications and require information that is adapted to their needs.
· Increased publicity turmoil: the emergence of promotional stimulation
diluted any single message's effectiveness.
· Desire of increased accountability: In an effort to make promotional
expenditure more accountable, companies have re-allocated advertising and
marketing tools for more simple and readily measurable methods, such as
direct marketing and advertising promotional offers.
Then we discussed pull and push strategy: Almost everyone is conscious of
publicity and other promotional techniques for end consumers or corporate
customers. We see these media ads and very often participate in the promotions
target market. A organization must have a programmed to encourage the internal
stakeholders, in addition to improving a consumer marketing plan. A promotional
push strategy is part of programs, which aim to convince the market to stock,
goods and advertise the brand of a producer. A push strategy attempts to persuade
retailers to generate revenue from the product of a producer and to promote it to
their customer base. Sometimes when the channel partners who choose to not
incorporate an extra product portfolio or brand encounter pressure. In those cases,
organizations can use a promotional pull strategy, spend cash on promotional
efforts to the final consumers.
Then there was discussion on marketing process model:
The following are four main components:
Any organization that wishes to effectively communicate its goods or services in a
marketing area must have a strategic and tactical framework to manage its
allocation of resources.
1. A strategy usually develops throughout the business plan of an organization and
is a guideline for particular marketing programs and policies.
Strategic marketing steps:
Opportunity analysis.
Competitive analysis.,
target marketing
(2) Target Marketing process: The company can select one or more as target
markets after an assessment of the opportunities offered by different market
segments, which included a detailed market research. This is referred to as target
marketing by marketing professionals and tends to involve four fundamental
steps:
Market Identification:
Five-stage market segmentation
Process of segmentation
Finding new ways to group consumers in accordance with their
requirements.
Finding methods for group marketing activities available to the
Company, generally the products offered.
Market/product grid development related to the products and actions of
companies in their market segments. ·
The selection of products with which the company is focused. ·
Marketing measures to achieve target segments
3. Choose the market for the target
4. Marketing Strategy Positioning
There were also case studies discussed on Cadbury, coke where we talked about IMC
used by these brands
After this we started with brand identity:
The brand identity comes from an organization that creates a distinctive product
with different characteristics. That's how an organization tries to recognize itself. It
shows how a company wishes to be seen on the market. The marketing and branding
strategies of an organization connect its authenticity to customers. Owing to its
identity, a brand is unique. Identity of the brand includes brand vision, brand culture,
positioning, personality, relations and presentations. Some of the component of
brands are logo , tagline , name .
Brand identity must be futuristic, i.e., the association aimed at the brand should be
revealed. The durable attributes of a brand must be reflected. Brand identity is a
fundamental means of product awareness and distinguishes the firm ’s competitive
advantage.
There was a case study on brand identity on Hidesign company which is famous for
its bags .
Submitted by – Aditya Vikram Singh
Roll No. – JL20RM003
PGDM (RM)