Integrated Marketing Communications Project 8/2 - Assignment Example

The Final Version of My IMC Plan Carlstron Inc. IMC Plan Module Assignment 2 INTEGRATED MARKETING COMMUNICATIONS PROJECT 8/2THE FINAL VERSION OF MY IMC PLANEXECUTIVE SUMMARY:Carlstron Inc is an organization that manufactures and sales designer watches. The most important element of the business is its production of consumer clocks and industrial timing devices. The company is also skillful in the manufacture of plastic casings which are to be used in safe keeping of watches. This marketing plan is developed from the desire to provide consumers with innovative and high quality watches.

The company also developed this marketing plan out of the desire of the organization to increase the sale of its products, and hence increase its market share. This marketing plan is also developed out of the desire of the company to build upon its brand name (Peter and Donnelly, 2013). A positive brand name for the company will ensure that the company manages to achieve profitability. THE MARKETING MIX:The following is a discussion of the details of the proposed marketing mix for the product.

THE MEDIA STRATEGY:Profile of the Target Audience:Demographics Young people who reside in urban areas. Urban areas under target are mostly towns and cities.Needs: The need of affordable but high quality designers watches by young people. The need to carter for the emergence of pop culture, that glorifies designer watches.Values: These people value trendy products that reflect the pop culture. They also value honesty when it comes to providing information regarding the quality of a productObjectives:To create awareness on the company’s ability to manufacture designer watches for the young people.

The following are the main goals of the media strategy;· To provide honest information about the quality of our designer watches.· To promote the development of popular culture by developing designer watches that satisfies the needs of young people.· To increase the market share of the organization by taking advantage of the affordability of the organizations designer watches.The Media to Use The following are the media to use for advertising and promoting our products Television.

Advantages of the television (Bovée and Thill, 2012): i. It can reach a large audience of people within the urban areas. ii. It is easy and possible to organize the advertisements as per the various needs of the target market. iii. It is easy to catch the attention of the target market, because Television uses audio, visuals and catchy words to convey a message. Disadvantages of the television: i. It is very expensive to put an advert on the television.

ii. They only catch the attention of the target market within a few seconds, which is not enough to provide more details of the product. Newspaper advertisements (Conaway and Laasch, 2012):Advantages of newspaper advertisements: i. They can reach a large number of the target population. ii. They can provide a detailed description of the product. Disadvantages of newspaper advertisements: i.

Declining readership. ii. Stiff competition with other newspaper organizations. iii. The advertisement can also be placed alongside other competing brands.The Media Mix: In using the television advertisements, the company will pay for a weekly airtime. In this strategy, the products of the company might be aired five times in a week. This is sufficient enough for people to have information about the company, and the quality of its products (Rodgers and Thorson, 2012).

The organization intends to use famous personalities such as sportspeople, musicians and actors for purposes of advertising its products. The organization intends to constantly place advertisements in newspapers. These advertisements will be periodical, and based on the availability of funds.PROMOTIONAL STRATEGYThe target market for Carlstron inclusive is people who are between the ages 18 to 35 years. Due to their age, these people value trendy designs. To increase the sales of the organizations products, it is important to develop a consumer and a trade promotion strategy, for purposes of capturing this market and increasing the market share of the organization.

A trade promotion strategy refers to the marketing activity that occurs between a retailer and a manufacturer. The trade promotional strategies that the organization will use are the following (Grewal and Levy, 2010);· Trade allowances:This is a trade promotional strategy aimed at encouraging agents/retailers to take up the products of the company, and display them in their shelves/stores. Under this strategy, the organization will offer some allowances to retailers/agents who manage to display the organizations designer watches (Peter and Donnelly, 2013).

This is in addition to the commissions they earn after selling the watches under consideration. This is a motivating strategy that encourages retailers/agents to work with the company, because they will also benefit in a monetary term.· Trade Contest:This is a motivational strategy to the organizations retailers aimed at encouraging them to sale a higher volume of the designer watches. Under this strategy, the organization will award an extra commission of 10%, to a trader who sales the more designer watches than his or her peers.

· Training:Under this strategy, the company will select a number of agents and retailers for purposes of training them on how to repair the watches in case they spoil, and how to use them. This is for purposes of helping them to develop a sales strategy that will ensure they sale the organizations products.The Consumer promotional tools that the organization will use are the following,· Price reduction.As stated earlier, the company strives to achieve success of its products through its friendly prices.

The company’s designer watches are the most affordable within the market, and are of higher quality.· DiscountsThe company aims to provide discounts to customers on a regular basis. However, the issuance of discounts will always depend on the weekly sales of the organization. It is important to denote that these discounts will always be offered once in a week.· RebatesThis involves refunding back the money, in case the customers are not satisfied with the quality of the organizations watches.

· Reward Programs.This involves developing programs that are aimed at creating loyalty for the organization, amongst its customers. These programs might include allowing customers to collect points for every purchase they carry out. Later on, they might redeem these points for cash.Evaluation of the Tools Used:For purposes of evaluating the effectiveness of these tools, the organization will have to look at the weekly sales figures that arise out of the promotional strategies used. A strategy that does not result to an increase in sales must be dropped (Pricken, 2010).

This is because it will not be cost effective for the organization to use it.Best Combination of tools to Use:The best combination of tools to use is the price reduction, and trade allowances. By reducing the prices of the organizations product, the organization will manage to catch the attention of consumers, who are eager of finding affordable designer products. On this basis, the organization will manage to increase the sales of its products (Miskelly, 2013). On the other hand, offering trade allowances to agents/retailers will motivate them to stock the products of the company, with the hope of getting an allowance.

This will ensure that the products are always available within the market, at any time when a consumer wants it.PERSONAL SELLING AND CRM STRATEGY: The personal selling strategy to use is point of sale merchandising. A Point of Sale is an area whereby the retail transaction gets complete. This is a place whereby the customer and the sales person meet for purposes of completing a transaction, i.e. a place whereby the customer pays for the good, and he receives the goods under consideration.

At the point of sale, the sales person will calculate the amount of money that the customer ought to pay, and will provide the various options in which the customer can pay for the goods under consideration (Abrams, 2010).Once a transaction is complete, the sale person will issue a receipt to the customer. To derive efficiency by using this strategy, the company will utilize electronic cash registers. This will help in tracking down the number of designer watches sold, and the various retailers/ agents responsible for the sale.

The point of sale, will not only act as a place where the organization will be responsible for exchanging its products with the cash, it will also act as a place whereby customers will return the product, in case they are not satisfied with its quality. This is in line with the company’s policy of rebates (Abrams, 2010). On this basis, the point of sale, will also act as a point of return of the goods by the customers. This strategy is advantageous to the company, because it allows face to face communication with the customer.

This communication might help the company to create a brand awareness of its products. It will also give the sales person an opportunity to explain to the customer on how the product under consideration works (Armstrong and Kotler, 2011). On this basis, point of sale merchandising will be an efficient personal selling strategy for the company, because it will help in increasing the brand awareness of the organizations products. Plan of Developing an IMC Database:For purposes of developing an IMC database for the product of the company, the organization must follow the following six steps (Kotler and Armstrong, 2012);· Develop and create the requirements of the database.

Under this step, the company must come up with the information that they want the database to contain. This involves information pertaining to the quality of the watches under consideration. This stage will also involve providing information concerning the operational activities of the company, and any issue that will contribute to the database marketing of the organizations products.· Finding the right vendor to host the databaseThe database under consideration will always be hosted by a third party, and this stage involves selecting an appropriate vendor who has the capability to host the organizations database.

Marketers usually need their databases to have speed, efficiency, access, insight and innovation. Under speed, a database that can be deployed quickly, will be able to provide the necessary information quickly, and more reliable. Customers will thus find it reliable, and it might achieve its purposes of creating brand awareness. Efficiency in hosting will minimize the amount of money spent in developing a database.The database must also be accessible, and on this basis, a vendor who hosts the database must be able to make it accessible to the respective customers.

Without accessibility, then customers will not know of the organizations products, and thus this marketing strategy will fail. The solution must also be insightful, and this helps in providing information about the performance of the company, and the quality of its products. Innovation on the other hand involves choosing a vendor who has the capability of developing innovative ideas that can help the company to meet its objectives. In choosing a vendor to host the organizations database, these five aspects must be put under consideration.

· Developing a service agreement with the marketing database vendor. This involves negotiating an agreement with the database vendor. Under this step, the company will have to negotiate on how its marketing databases will be hosted, the costs, and the period of time in which the organization will host the database.· The next step is to avoid errors in the building of the database; To ensure the success of the database, it is important to make it right during the first step in which the database is being built.

To make sure that the database vendor is doing the right thing in developing the database, the company will have to follow the following procedures;i. Assign the best vendor for the project. ii. Maximize the quality of the vendor’s team by ensuring that they communicate regularly concerning the objectives of the database. iii. Ensuring that the vendor prioritizes the marketing needs of the company, by developing the database. iv. Scrutinizing the approach in which the vendor is using to develop and design the database.

Staying engaged after the development of the database; Under this stage, the company will remain engaged on a continuous basis. The company will achieve this objective by delegating the task of managing this database to a team of professionals within it.· Carrying out an audit of the database after every year or two. Due to the changing needs of customers and marketing requirements, the company will have to audit the database. This is for purposes of ensuring whether the database is capable of meeting the needs of the customers, and their marketing requirements of the company.

The CRM strategy of the company is aimed at creating customers loyalty, and increasing the sales of the organizations products. The human resource strategy of the organization is based on three main factors, namely the people, processes, and technology (Kurtz and Boone, 2012). On this basis, the CRM strategy of the organization will be developed in a manner that it will allow customers to have a control of their careers and its development. This will also act as a motivational policy, and hence improve the manner in which these employees interact with the company’s customers.

For purposes of developing its CRM plan, the company will have to get the opinion of customers and its employees. This is for purposes of identifying their various communication needs, and hence developing a plan that will incorporate these needs.PR AND SPONSORSHIP PLANSituational Analysis:Carlstron Company deals with the production and manufacture of designer watches. The main reason of developing this types of products is to satisfy the need of the market in the production of affordable and yet high quality designer watches.

To penetrate the market, the company needs to have an efficient and effective relations plan, and sponsorship plan. This is because the company aims at sponsoring the various sports activities of colleges and universities.Goals and Objectives of the PR Plan: One of the important goals of the companies PR plan is to increase and promote the company’s goodwill within its target market. Goodwill refers to the creation of a positive rapport with all the communities that are found within the region in which the company operates (Ramachandra and Chandrashekara, 2010).

If the company manages to create a strong goodwill, then chances are high that its products will manage to achieve an increase in sales. Another goal and objective of a PR plan for the company is to provide information on the services and products of the organization (Grewal and Levy, 2010). For example, the company might send weekly or monthly emails to its target customers explaining to them on the quality of their products, and if a new set of designer watches have been manufactured. The reason as to why this is important is because giving information to customers on a constant basis, will help the company to get positive feedbacks/ sentiments from the market ( Peter and Donnelly, 2013).

This will in turn make the company to be able to effectively compete against their competitors. Goals and Objectives of the Sponsorship Plan: The objective and goals of the organizations sponsorship plan is to increase an awareness of its products and brand name. Creating an awareness of the organizations products and brand name is important method for new business organizations and companies to establish a strong recognition within their target market (Miskelly, 2013). The sponsorship plan also aims at changing the attitudes of its target customers concerning the company and the quality of its products.

For example, Carlstron is just a new company that is emerging, and it seeks to offer quality and yet affordable designer watches. It is within the knowledge of various people that designer watches can never be affordable, and cheap. Engaging in a sponsorship program will help to change this attitude (Pricken, 2010).Strategies and Tactics:The following are the PR strategies that the business organization should use (Dunay and Krueger, 2010);• Use of the social media to communicate with prospective customers on the available products and services.

• Use of newsletters, emails and online blogs to provide information concerning the products of the organization.• Establishing a call center, whereby customers can call for purposes of seeking information concerning the company’s products.The following are the sponsorship strategies for the organization;• Identifying a sports team belonging to a college so that the company can fund its activities.• In sponsoring the sports teams, the company will manufacture their uniforms and print its logo on these uniforms.

This will help to create an awareness of the existence of the company’s products, and services.Evaluation:In evaluating the performances of this plan, there is a need of conducting an online survey system, to find out whether there is an increase in the awareness of the company’s products, and an increase in its brand recognition. There is also a need of evaluating the company’s sales figures, in order to find out whether there is an increase in sales or not. If there is an increase in sales, the company should find out whether it was the PR and Sponsorship strategies that lead to the increase in the organizations sales.

INTERNET STRATEGYThe role the Internet will play in my IMC planThe internet will be part and parcel of my IMC plan as it has a role in communication between the company with their business partners, customers, and suppliers. The internet provides a base for promoting products, response to the customer’s queries and concerns, and presentation of product information. According to Rayport & Jaworski, 2002, any business strategy needs the internet in order to enhance its marketing and sales efforts.

The internet could also extend the company’s sphere of influence by offering a means to communicate with the public and its prospects.Internet tools and services to be leveraged as part of my strategySince the internet is a broad factor in playing a role in marketing communication, certain tools have to be specified. The website is the basic tool in this strategy as it serves as an online communication hub for my company. Apart from presenting information on the company’s goods and services, I will link all my internet activities.

From the website, I can connect my social media profiles to charity organizations, and videos that I wish to support. It will help my business partners, customers, and investors to review and have a better connection to my company. Most importantly, I can improve the company reputation and the quality of products sold through setting up a customer communications center to allow client reviews and commends on the same website (Holm, 2006).The world today is dynamic and any business strategy must involve social media such as Facebook and twitter as an internet tool in IMC.

This is vital in engaging my customer base. Through these two media networks, I will be able to distribute product profile, any discount offers, after-sales services, and update them on the business operations. The best method to use here is to motivate them to “like” my profile on Facebook and follow me on twitter. Market research may also be carried out on social media to determine customer attitudes on the company and products but this will be enhanced by making sure that I remain responsive to the sites for a positive experience for clients.

YouTube is another internet tool that will be included in my IMC through videos. Promotional spots, awareness video, and advertisement copies can be placed on You Tube for more information. This tool of marketing communication can improve my relationship with clients, particularly for younger generations, Videos can also serve as a good tool to add value to my company’s goods and services as well as showing advice and demonstration clips to potential customers (Quelch & Klein,1996).The above tools can work well in my IMC strategy if I will use it alongside customer service.

Through the internet, I will move my support programs and customer services to online services. To reach a wide range of customers, I will use the e-mail service and charts online to keep in touch with them, give extra communication techniques, and sell products and services. Such services may be cheaper and convenient compared to phone-based services or using media stations.FRAMEWORK TO ASSESS THE EFFECTIVENESS OF THE IMC:For purposes of assessing the effectiveness of this IMC plan, the company will establish an office under the marketing department which will be responsible for monitoring the implementation of this marketing plan.

This department will be under the director of marketing, who will have the responsibility of overseeing the full implementation of this IMC plan. This office will also collect feedback from the various customers of the company, on the effectiveness of the organizations marketing strategy (Miskelly, 2013).The organization will also establish an online survey, for purposes of collecting information in regard to the value of its products and the perception that customers have to the company. This online survey will mostly target potential customers and non-potential customers of the organization.

This people will help in evaluating whether the IMC plan developed by the company managed to create a strong brand name for the organization.Conclusion:In order for the company to achieve success in the implementation of this IMC plan, it must involve all the stakeholders of the organization in its implementation. This includes the employees of the organization, customers and investors. When they own the project, they will strive hard to ensure it succeeds.ReferencesAbrams, R. M. (2010). Successful business plan: secrets & strategies (5th ed.). Palo Alto, Calif.

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