Integrated Marketing Communication, IMC Plan for Tango - Assignment Example

 INTEGRATED MARKETING COMMUNICATION Your name ………………….. Course/ college…………….. Date of submission ………… TABLE OF CONTENTS Introduction …………………………………………………………. 3 Integrated Marketing Communication ……………………………… 3 Tango: Company profile and brand communication strategy ………. 5 IMC plan for Tango ………………………………………………… 5 Planning the IMC …………………………………………… 6 Developing the IMC ……………………………………….. 7 1- Broadcast media advertising ……………………. 8 2- Print Media Advertising ………………………… 9 3- Public Relation ………………………………….. 9 4- Sales Promotion …………………………………. 10 5- Event Marketing …………………………………. 10 Evaluating the IMC …………………………………………. 11 Controlling the IMC ……………………………………….. 11 Conclusion …………………………………………………………. 12 References ………………………………………………………….. 13 Introduction Various factors like rigorous competition among companies, globalization, growing technological advances and changing consumer attitudes are largely impacting the marketing environment and therefore a marketer is required to respond to such changes through effective marketing strategies. Integrated marketing communication has become one of the most powerful marketing strategies and has been widely implemented by companies worldwide in order to gain competitive advantages and achieve successful marketing through effective brand communication. A number of companies have found IMC as an extremely important tool that can help them dominate in the market, maintain considerable market share and become successful market player through better communication of its brand, image, vision and customer values to the potential customers. This piece of research paper attempts to review a brief literature on integrated marketing communication and present an IMC plan for Red Bull, an emerging brand of energy drink in the UK and other countries. This paper considers the relevance of IMC in today’s marketing environment and examines how this, along with its various tools, can be implemented for the company and justifies the selection of each tool in relation to the marketing of Tango products. Integrated Marketing Communication Integrated marketing communication (IMC) is, in its simple meaning, a careful coordination of various promotional messages including personal selling, traditional advertising, sales promotion, event marketing and public relation for a particular product or service with a basic objective of maintaining consistency in messages to be delivered to the potential customers (Lamb, Hair and McDaniel, 2008, p. 413). Schultz and Schultz (2004) pointed that IMC is a process that companies widely use to accelerate their returns by lining up communication and marketing objectives with business goals (p. 3). IMC is basically a strategic tool that helps a company plan, design and develop measurable and coordinated brand communication program with customers, employees and other important stakeholders to bring short term financial benefits as well as long term brand value (Belch and Belch, 2007, p. 11). The IMC is thus a communication program that helps marketing management coordinate and integrate various communication elements like advertising, sales promotion, public relation, personal selling, in order to maintain consistency in messages to help the company achieve sustainable competitive advantages. As Shimp (2008) noted, IMC is entails planning, creation, integration, designing, coordination and implementation of diverse forms of advertising and promotional activities that are delivered to the potential customers over time (p. 10). IMC is basically planning in a systematic way to help determine the most effective and consistent message to the appropriate target audience (Percy, 2008, p. 2). Integrated marketing communication is mainly related to the ‘promotion’ element of the basic four marketing mix factors. As shown in the depiction below, promotion comprises of advertising, consumer promotion, personal selling, direct marketing and public relation. Belch and Belch (2007) emphasized that a proper marketing mix doesn’t just happen, but rather marketers must be knowledgeable, well aware and keen to understanding the key elements of the each component in the marketing mix (p. 9) Tango: Company profile and brand communication strategy Tango is an emerging soft drink brand from the Britvic Plc, a well known British manufacturer of soft drinks. Tango has become a fast moving consumer product because it has recently gained considerable brand image and brand reputation among its customers. Tango was first introduced by Corona Soft Drink in 1950s, and has been developed with additional fruit flavours. Its innovative market campaign is a best example of how it becomes successful in marketing with its marketing campaign. Tango’s advertisement in Television in1999 as the first ever diet fruit and carbonated drink has gained major attention among its customers (Britvic, 2010). Tango has been adopting various advertising and promotional strategies to reach its target markets and this has helped it position its brand among its potential customers. The advertising and promotional strategies that the company implemented have helped it gain financial success by an increase in revenues by 5.9% in 2009 (financial24.org, 2010). IMC plan for Tango Tango considers IMC as a very basic and effective tool to boost its bard image and increase brand awareness among its customers. Tango’s products were so far marketed as mere soft drinks and it now thinks of promoting its products as ‘energy drinks’ and it therefore seeks better strategy to deliver its messages more consistently to its customers. Tango would like to design and develop ‘energy drinks’ with fruits and other flavours and it thus thinks that IMC would be an effective way to communicate its marketing vision in respect to its ‘energy drink’. In the strategy formulation stage, the company requires necessarily considering the very basic three communication stages or communication elements that are positioning, personality and proposition. What Tango wants its customers to feel is meant by positioning, whereas personally refers to what and how it wants its customers to feel about the brand. Proposition is the way that their customers believe that they bring about the personality and positioning (Brannan, 1995, p. 2). These three variables are to be effectively coordinated and integrated in a sound IMC program. Belch and Belch (2007) emphasized that an effective IMC strategy must be able to combine various promotional mix elements, adjusting the strengths and weaknesses of each element in a way to design and create an effective communication program (p. 24). Thus, an IMC program must contain stages of a) planning, b) developing the program, c) evaluating and d) controlling the use of different promotional mix elements to deliver the messages consistently to the target market. Planning the IMC Planning is critical to the success of any managerial process. As part of planning and decision making stage of IMC program, Tango is required to review the marketing objectives of the company and recognize the current situation based on internal and external analysis of the company. To evaluate the position of the company, SWOT and pestel analysis can be used. The marketing management is expected to assess, measure and analyze potential strengths, weaknesses and threats of the companies in respect to its brand, image, position and competition rivalry that it experiences from other companies. Tango is thus required to know the current position of the company in order to identify where it has to go and which specific segments of the markets are to be targeted. In order to monitor and evaluate business performances, the company also requires to evaluate specific marketing objectives, communication strategies and business processes (Belch and Belch, 2007, p. 26). In an IMC program planning, the company must take in to account a much wider range of communication forms as there are more diverse channels of communications available for the integrated marketing communication program. The marketer also requires to provide means by which the planner can evaluate and select communication channels (Thorson and Moore, 1996, p. 137). In planning the IMC program, the marketing management must consider the available budgets and proposed spending for the IMC program. Developing the IMC The second and perhaps most important stage in the implementation of the IMC program is developing the communication program considering various modes and methods of promotion mix including broadcast media, print media, internet, digital billboard, direct marketing, sales promotion, public relation, sponsorship and word of mouth. As far as Tango and its IMC are concerned, the very basic objective of its IMC is to deliver messages constantly about its new steps in developing and marketing ‘energy drinks’ branded as Tango. As depicted in Figure-2, the IMC program proposed for Tango comprises of five promotional elements, they are a) Broadcast media advertising, b) Print media advertising, c) Sales Promotion, d) Event marketing, and e) Public relation. 1- Broadcast media advertising In recent days, Television has become a very prominent advertising channel and large number of companies have found TV advertising most effective than most other media. On an average, people spend around 85% of their time with broadcast media and only 15% with print media (Duncan, 2005, p. 344). More specifically, television advertising will certainly help create long-term brand positioning and image among customers and also to deliver short and rather more important messages consistently and repeatedly to the potential customers. Tango’s main objective is to inform the public about its new development of ‘energy drink’ which is flavoured with fruits. Though people often carelessly watch television and it is argued that TV advertisement is mere waste, it has been found a particular message which is repeatedly broadcasted overtime will last in people’s mind and thus helps create strong brand image. 2- Print Media Advertising Tango strongly believes that there are good number of serious readers of newspapers and magazines and therefore advertising in such media will be almost as effective as broadcasting media, mainly due to that print advertisement is relatively less expensive as well. one of the main reason why Tango doesn’t ignore print media is that trade journals and magazines will certainly deliver its messages of Tango’s ‘energy drink’ to the potential trade people. Both trade and other journals and newspapers will be therefore considered for its advertisement and as part of its IMC program. 3- Public Relation According to Belch and Belch (2007), when an organization plans and distributes information systematically to control and manage the company image and the nature of publicity it may gains, it can be said that it engages in public relation activities (p. 23). By adding public relation to the IMC program of Tango, the management will be required to function to evaluate public attitudes and identify the policy and procedures of a person or organization. As Koekemoer and Bird (2004) noted, public relation has the goal of attaining and maintaining accord with social groups that the company depends on in order to achieve its mission (p. 399). The main reason why public relation is to be considered as an important element of Tango’s IMC program is that public relation will use a variety of tools, including special publications, participation, fund raising and sponsorship programs, to enhance and foster a company’s (Tango’s) image (Belch and Belch, 2007, p. 23). 4- Sales Promotion Tango’s sales promotion will comprise of all those marketing activities that can provide extra values or incentives to the sales parties, distributors and the final consumers. Sales promotion accelerates immediate sale and impulse buying. Even when consumers prefer other brands like Coca Cola, Red Bull etc, they can be promoted and motivated to buy tango due its attractive sales promotion packages. One of the mains reasons why sales promotion is considered as an integral part of Tango’s IMC plan is that sales promotion boosts sales and increase the total revenue of the firms. Company may have to spend huge on various advertising and therefore it is imperative that the company must also focus on maintaining the profitability by enhancing its brand image and brand positioning. 5- Event Marketing Event marketing will be of greater benefits to Tango, because, its main objective is to communicate the energy boosting features of its ‘energy drink’ and this can easily be best done through event and sponsorship marketing like sports events. The energy enhancing features can be best illustrated and demonstrated through sports events like. Though event marketing can be relatively very expensive, it will be a most useful strategy to build long-term brand image and reputation among its potential customers. Tango considers event marketing as an important element because it not only helps create long-term brand image, but also maintain sustainable competitive advantages. Evaluating the IMC Once the IMC program has been planned and implemented, the third step is evaluating and monitoring of the program, by checking the performance and comparing standards set by the company. The marketing management is thus required to assess and measure the effectiveness and performance of communication, consistency of messages, its impacts on sales and company image, brand value and customer’s brand awareness. How do you value the brand ‘Tango’? How many times a day you are likely to purchase Tango Energy Drink? Which Tango advertising message you are more attracted to? And Why? Do you think tango Energy Drink fits the message being advertised? And how or why? How do you rate Tango’s TV advertising- Good, Bad, No opinion? Do you feel Tango as an energy drink? Did you ever experience your energy boosted when you drunk Tango? If so, how often? Controlling the IMC The IMC is basically a management function. It comprises of planning, coordination, evaluation and controlling. Controlling is essentially a managerial program that finds variations from the standards set in planning and taking actions to solve the problems or avoid deficiencies. Likewise, the issues or likely faults of the IMC are to be found and controlled in the final stage to ensure maximum accuracy of the IMC program. Conclusion This piece of research paper has presented a brief IMC plan for a British company and its ‘Energy Drink’ Tango. This paper has reviewed relevant literatures on the marketing concept of ‘integrated marketing communication’ and has detailed its various elements including advertising, sales promotion, public relation etc. The IMC program for Tango considered Print and broadcasting advertising, sales promotion, event marketing and public relation as more useful and effective communication elements to be considered as integral parts of the program. References Belch, G. E and Belch, M. A (2007), Advertising and Promotion, An integrated marketing Perspective, McGraw Hill Irwin Brannan T (1995), A practical guide to integrated marketing communications, Illustrated and revised edition, Kogan Page Publishers Britvic.com (2010), tango, Retrieved 22/04/10 from http://www.britvic.com/Brand.aspx?id=41 Duncan (2005), Principles Of Advertising And Imc, Second edition, Tata McGraw Hill Financial24.org (2010), Britvic Q3 revenue up 5.9 %, Retrieved 22/04/10 from http://www.financial24.org/market/britvic-q3-revenue-up-5-9-expects-fy09-results-above-market-view---update/ Koekemoer, L and Bird,S (2004), Marketing Communications, Juta and Company Ltd Lamb C.W, Hair J.F and McDaniel J.C (2008), Essentials of Marketing, Sixth and illustrated edition, Cengage Learning Percy, L, (2008), Strategic Integrated Marketing Communications, Illustrated edition, Butterworth-Heinemann Shimp, T. A (2008), Advertising Promotion, and Other Aspects of Integrated Marketing Communications, Illustrated eighth edition, Cengage Learning Schultz, D.E and Schultz, H.F (2004), IMC, the next generation: five steps for delivering value and measuring returns using marketing communication, illustrated edition, McGraw Hill Professional Thorson, E and Moore, J, (1996), Integrated communication: synergy of persuasive voices, Illustrated edition, Routledge Read More