IMC approach
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In a continuation of the Strategic Marketing Plan document attached,
The final component of the Strategic Marketing Plan is the Marketing Mix. The Marketing Mix is the set of decisions about price, communications and promotion, product policy, channels of distribution, and customer relationship management. Only by addressing these elements can you actually implement your marketing strategy. This week you will focus only on communications and promotion, following an integrated marketing communications (IMC) approach. Such an approach delivers a clear and consistent message to your consumers. In a five to six page report,
1.Provide a detailed description of your IMC approach and the corresponding promotion strategy necessary to send your message to your target market. (For example, the elements of the promotion strategy include: advertising, personal selling, public relations, direct marketing, and sales promotion) and how you would use them to communicate with your target segment.
2.Explain your rationale for choosing these specific elements.
3.Describe the message you wish to communicate based on your core strategy and explain your rationale for the message.
4.Develop a strategy to measure the effectiveness of the IMC.
Has the internet played any role in how you developed your marketing approach? Why or why not?
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Solution Summary
Provide a detailed description of your IMC approach and the corresponding promotion strategy necessary to send your message to your target market. (For example, the elements of the promotion strategy include: advertising, personal selling, public relations, direct marketing, and sales promotion) and how you would use them to communicate with your target segment. Explain your rationale for choosing these specific elements.
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Provide a detailed description of your IMC approach and the corresponding promotion strategy necessary to send your message to your target market. (For example, the elements of the promotion strategy include: advertising, personal selling, public relations, direct marketing, and sales promotion) and how you would use them to communicate with your target segment. Explain your rationale for choosing these specific elements.
Integrated Marketing Concepts is a formal approach to identify, analyze, implement and evaluate the best marketing, advertising and promotion strategies required by a company to efficiently and effectively market its products and services. In order to make an IMC approach effective, a company needs to pay attention to minutest details in evaluating the various alternatives available and chose the one which synergizes perfectly with the company's product or service, is cost effect and produce maximum results. The plan should be regularly reviewed to judge its effectiveness and should be flexible enough to respond to changing environment and business conditions.
Let us discuss each of these elements one by one:
Advertising: Our advertising strategy will comprise of advertisements in print media such as lifestyle magazines to promote our special range of undergarments. Special Care will be taken in the content of our advertisements with respect to the information and design presented and the message with respect to our differentiated product and "value proposition" will be displayed in the adverstisement. For example, since we are promoting an eco-friendly product, color schemes such as use of green color, images such as trees and other symbols of eco-friendliness will be displayed in the ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
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