Integrated Marketing Communications - Assignment Example

Integrated Marketing Communications As a newly appointed marketing manager, how would you plan the segmentation of a market? In the role of a marketing manager, the first and foremost thing that is of significance is to realize that the market exists to satisfy a target customer which is in essence part of the market for which the product/service is being made/offered. Thus the related aspect gives rise to the notion of segmenting the market in such a way so as to reach to all forms of target customers coming within the direct and indirect hold of the brand/service of which the marketing manager is responsible for. This could be done through a number of different ways. Segmentation of the market could either be through gender where either male or female gender is targeted or both are equally targeted so as to give them the brand/service that they are looking forward to receiving. Segmentation is also done through area/region/city or location. This provides a sense of reach and closeness for the target audiences when they actually have to get in touch with the product or use the service to satisfy their need or want. The segmentation of the market could also be through income where households are differentiated upon the basis of their monthly or annual income. If the income is within the highest domains, it would mean that the brand would be sold at an expensive price, one which is also known as market penetration. If the income is generally of the middle class then the pertinent target class would be targeted in a way which does not affect its socio-economic equilibrium when it comes to purchasing power. Also the fact that if the income lies in the quarters of lower category, then the brand could be sold at a much cheaper price than is present in the different markets which are present in close vicinity of such a market, taken care by this marketing manager. (Michman, 1991) However one thing must be kept in mind by the marketing manager and that is the fact that socio-economic class must be distinctly defined and the segmentation is based on the very principles as outlined by the socio-economic groups present within that very market. This provides a sense of ease for the marketing manager and there is less ‘wastage’ at the end of the day when it comes to accumulating revenues and targeting the right mix of people within the already demarcated segments within the said market. 2. Describe the process you would undertake in hiring an advertising agency and the benefits you would expect once the agency is hired. The choosing of an advertising agency is a tricky proposition but one that demands a lot of hindsight and experience. The best way to choose an advertising agency for an organization is to look for their past works, more so when the same have been done in the related industry and not just the works that they have done overall. This will provide for an interesting reading as the advertising agency will be able to give a clear cut idea for the products that our organization makes or the services that we offer. It will also tell about the experience that this advertising agency has attained within a period of time and the creative abilities which they have been able to portray in the different periods. When there are certain advertising agencies which have already been short listed as per their choosing, the best manner is to give them an assignment or project and offer them a specific deadline on which they need to make a ‘speculative presentation’. On the part of the advertising agency, this is called the pitching process where they have to sell the idea and tell the client (the organization) that they are the best suited to handle their products and/or services. (Wells, 1997) When the speculative presentation is made, the client (organization which is choosing the very advertising agency) gets to know what kind of creative deliverables this advertising agency can come up with and how much deadline-oriented their works usually are. When the client is satisfied with an advertising agency of its liking, that advertising agency is given the contract to look after the creative designs and campaigns for this organization. Once the advertising agency is hired, the client must be at ease since this agency will look after all the print advertisements, TVCs, radio jingles, outdoor materials, POS design, signage and so on. The only requirement on the part of the organization (client) is to keep a check on the working regimes that are present within the advertising agency and to liaise with them on and off. 3. What elements of marketing communications theory do you think are most relevant to planning an integrated marketing communications program? The integrated marketing campaign (IMC) looks to present a single message or a series of message in a consistent manner whereas the marketing plan or campaign (MC) is the overall basis of IMC in the first place. There would be no basis of IMC if the MC is not drafted or prepared. MC looks to counter the strategies and tactics which will be employed in the wake of the ever changing market scenarios and conditions whereas the IMC looks to present the message of the MC through a synchronized and harmonious way. Therefore it would be correct to suggest that the IMC is indeed important but not to the same levels as the MC is since the MC looks at all the different angles of marketing the brand, which could be the product and/or service or a combination of both, in certain instances. The integrated marketing campaign cannot be successful if the different deliverables are not put in a direct fashion towards the target audience; no matter it is the primary one or the secondary target market. The marketing plan however remains the key in such a situation and it cannot be counted off, no matter how difficult the undertakings or executions of the IMC turn out to be. IMC and MC must go hand in hand towards a successful execution of the product and/or service’s message geared towards the relevant target audience. Message consistency is indeed a significant aspect of the integrated marketing campaign since the old campaigns might just get mixed with the newer campaigns that are brought forward by the relevant brand, which could either be a product or a service and in some cases, a hybrid also works to some effect. The message must remain geared towards a selected target audience as this ensures that there are no shortcomings on the part of the people for which the message is put out, in the first place. (Schultz, 2004) With that, we must understand that a well balanced IMC campaign looks to plug the shortcomings which usually arise in the wake of changing messages and when certain strategies and tactics are amended for one reason or the other. The reasons could be aplenty but the most important thing here to understand is the fact that the message must remain synchronized and there are no double meanings or embedded messages beneath the new campaign brought forward by the product and/or service. IMC campaign can only be successful when there are concerted efforts by the organization that is bringing out the specific brand to make its message get heard within the clutter of so many brands that are available in the market. With that, we must comprehend the fact that IMC campaigns can never be successful if there are different deliverables of the same brand exhibiting entirely unique and different messages which are brought forward by the brand itself, say at a particular time period within the brand’s evolution epoch. 4. Describe the advantages and disadvantages of Public relations campaigns. Public relations run parallel with the other forms of marketing communications and within the symmetry of an organization, it is deemed as one of the very fundamental and intrinsic entities. Internal public relations define itself by the fact that it discusses the aspects of sending out press releases and the like whenever there is a crisis. Moreover, public relations is something that runs within the organization on a more proactive basis rather than rising whenever there is a problem and being on the reactive side. In fact the PR basis rationalizes itself when we suggest that proactive way is the manner to go about doing things as it is a basic ingredient of the PR practice and indeed the related philosophy. (Grunig, 1992) The importance of PR is all the more necessary to fathom because without publics getting satisfied and being at ease with the working methodologies of the organization, there can be real hardships in the way to achieve success and that too at a quick speed. The different activities and processes which are the lifeblood of the organization owe on the shoulders of the PR measures which the company has incorporated within its regime. The disadvantages that PR brings with it are that it could provide serious headaches for the competitors and at times for the organization under study as well. People can be frustrated at times with the amount of PR being done by an organization and this certainly goes to show that PR has its downsides as well. Bibliography Grunig, James E. Excellence in Public Relations and Communication Management. Lawrence Erlbaum Associates, 1992 Michman, Ronald D. Lifestyle Market Segmentation. Praeger Publishers, 1991 Schultz, Don E. Understanding the Diffusion of Integrated Marketing Communications. Journal of Advertising Research, Vol. 44, 2004 Wells, William D. Measuring Advertising Effectiveness. Lawrence Erlbaum Associates, 1997 Word Count: 1,556 Read More