Why I Have the Qualifications for the Advertised Position of an Account Planner at ACME - Admission/Application Essay Example

MKTG204 Integrated Marketing Communications Department of Marketing and Management Faculty of Business and Economics D1 Day; Offered in Session 2, North Ryde 2014 Assessment Task 2c: Reflective essay Student ID First name and last name Tutor/Tutorial class: e.g. Joe Tuesday10am Your report should be written in 12-point Times Roman, single space. Your report must not exceed 7 pages (3500words) excluding the cover page, excluding references, figures and tables. Your report should have logical flow of argument. Succinct. Well signposted. Tables, graphs and word clouds are appropriately used to present the analysis and findings in an easy to read format. No missing, incorrect or inconsistent references. 1. Executive summary I believe I have the desired qualifications for the advertised position of an Account Planner at ACME. Upon reflection, I opine that IMC is critical for ‘execution integration’ and ‘planning integration.’ The benefits of brand reflect the four main goals of marketing communication: retaining customers, acquiring customers, growing sales volume, and increased migration of customers to use a brand. These will enable ACME to increase revenues from the brand, assure better earnings, and create potential for new earnings, as reflected in convex-shape sales-to-advertising response. I would also seek to make IMC more strategic and less exceptional at ACME, centred on advertising and sales promotion, inclusion of one-way and two-way communication and lastly results driven. However, until the connection between IMC, customer value and institutional branding are identified and appreciated, the benefits of IMC may not be realised. Next, to establish IMC’s significance over the long-term at ACME, there is a need to develop longitudinal measures of the effects and implications of IMC (Edmiston 152). To be effectively implemented at ACME, IMC needs the participation of the entire organisation as well as its agents, including from the executive management downward. To promote such participation, I would consider designing compensation systems to identify and strengthen efforts to ensure success of IMC. The underlying argument is that IMC is theoretically a universal brand equity remedy that consists of the practicality, descriptions, and functioning and measurement of its efficiency. However, an unequivocal strategy and strategies of implementing the concepts of IMC in advertisement, which in my opinion still remains incomprehensible. 2. Critical integration of content ACME advertising agency has advertised to fill the position of an Account Planner. After reviewing the stipulated job description, I believe I have the desired qualifications for the advertised position. I can set the communication strategy for ACME advertising campaigns. Additionally, I can create the target audience, objectives, goals, message, and tone for delivering a marketing campaign. Yet again, I can set out a specific strategy for helping clients to add value to their businesses, as well as inspire others to create advertisements with the view of achieving brand equity. Basing on this backdrop, what is clear to me is that marketing communication would serve the significant function of creating and sustaining ACME’s stakeholder relationships, as well as capitalise the stakeholder relationship to promote brand equity. As stated by Reid et al (11-14), advertising and promotion of brands potentially drives sales volumes. In my view therefore, brands are critical for an organisation's response to short-term competitive shifts. Essentially, ACME advertising agency’s focal point for marketing efforts that I would leverage to ensure that it becomes a critical source of competitive advantage, market power and greater returns. On reflection, I perceive integrated marketing communications (IMC) to be an innovative marketing design intended to liberate the advertisement industry’s drawbacks and to make the tactical and strategic power of branding stronger (Figure 1). Figure 1: Strategic and tactical integration (Reid et al 13). IMC provides the alternative of integrating various marketing communication models in single message content, with the hope of creating efficient brand equity. In respect to the advertised position at ACME, I would define IMC as a strategic business operation activity essential for planning, developing, executing and assessing measurable and persuasive brand communication programs with pertinent audiences or consumers. From the Mktg 204 lessons and readings, I learnt that IMC extends further than merely using traditional marketing and media tools and covers transitional marketing processes. Among the most critical lessons was how to develop IMC. In particular, while the IMC concept was not entirely new, I developed an understanding that developing it requires a four-stage process. Indeed, from personal readings, I learnt that the professed four-stage framework progresses from a greatly practical and strategic orientation into one that is triggered by the need to understand what customers want, their attitudes, knowledge and behaviours as indicated in Figure 2 (Adetunj et al 23-25). Figure 2: Communication attritions funnel I therefore, reason that IMC is conceivable at two specific levels: tactical and strategic. As I have indicated in Figure 3 and 4 below, the relationship between IMC market orientation and brand orientation is illustrated (Reid et al 11). On reflection, market orientation depicts an organisation's culture by adopting the concepts of the market and the processes underlying the oriented market. On the other hand, I perceive brand orientation as representing the functional focus of the brands, as well as the brand strategies supporting strong stakeholder and customer relationships despite the kind of product (Reid et al 11). Figure 3: IMC brand and market orientation Figure 4: Conceptual Model relating IMC to Market and brand orientation and performance Within this model, IMC depicts the creation of integrated communication strategies for marketing, in order to attain perceived communication and brand objectives. At the same time, it bridges stakeholder and customer relationships. In this way, I believe that IMC leverage the customer- and market-sensing organisational mechanisms in devising marketing message and marketing strategy (Reid et al 11). IMC planning Planning for IMC at ACME as an Account Planner is reflected in course readings and lectures on IMC execution integration and IMC planning integration. Upon reflection, it is my opinion that IMC is explicable more comprehensibly using execution integration and planning integration. Planning integration refers to the process of maximising the effectives and efficiency. As a marketing practitioner, I would coordinate the entire IMC activities in order to ensure that they are in line with the ultimate strategy of the brand and product, what Reid et al (11-14) calls vertical integration. On the other hand, I perceive executional strategy to be concerned with the consistency between the messages of communication, or what Reid et al (2005) calls horizontal integration. It is essential to argue that the process of implementation integration is susceptible to complexities of challenges. The difference between tactical and strategic dimensions could further be understood once the integration is represented as a continuum from the low-level integration to high-level integration (Edmiston 152). To this end, I suggest several evolutionary phases: In Stage 1, the marketing messages are tactically coordinated to ensure that they consistently show the core values. Figure 5: IMC evolutionary phases (Edmiston 152) In Stage 2, the scope of the IMC is redefined to assume an outside-in approach, where all likely communication is concentrated on the perceptions of the consumers. In Stage 3, information technology is applied to transform the customer data into knowledge for the customers. In Stage 4, the marketing practitioners are empowered (Figure 5). Debatably, the cause of turbulence seen through conceptualisation of IMC is linked to its flexible nature, as well as for being an accessible tool for a range of correlated areas of marketing communication, including public relations, marketing, advertising and branding. In my view, an important supposition of IMC is that it is a concept that incorporates the practices of marketing communication fields. IMC and branding I perceive IMC to be a valuable tool for tackling accountability and efficiency issues of brand development and brand equity. To this end, there is a likelihood of integrating the principles of IMC in branding. A case I would like to highlight is the Integrated Brand Promotion (IBP), which is a compatible term for IMC, for two main reasons: the factors calling for the need to innovate IMC is also the same reasons underlying the notion of IBP and secondly, the functional purpose of these two terms are in my view the dedicated promoters of IMC and IBP. I describe the two as providing an approach to attaining brand equity. In a sense, IBP would be uniquely fit to create an effective brand equity, as well as advertisement messages at ACME, even as IMC would be centralised to the whole marketing tools I would use at the advertising agency. However, I still do acknowledge the fact that definition, measurement and development, as well as implementing of IMC is yet to be resolved even after years of conceptualization, and that theorists have often openly recommended the need for further directives on it. From earlier readings, I tended to compare the academic and practical meaning of IMC and established a shift in communication practitioners’ interpretation of IMC for merely posing as an approach for integrating the usage of media forms and messages of marketing, to a being a strategic and tactical tool for creating effective brand image. In fact, Adetunji et al (24) made a comprehensive review regarding IMC’s evolution since its firs practical application and confirmed that it has indeed been a strategic approach for developing and managing brands since the 2000s. I therefore, posit that IMC can serve as a strategic tool that can be used to achieve a satisfactory stakeholder value and brand equity. Indeed, this perception is shared by Reid et al (11-13), who established that implementation of IMC can create effective brand outcomes. Adetunji et al (24-25) theorised the correlation between IMC and brand equity as critical constituents of organisation strategy that can maintain brand equity. Reid et al (11-13) further proposed a model that explains the connection between brand orientation and IMC. As further theorised by Adetunji et al (24-25), the functional power of IMC is critical for developing brand equity. I would effectively apply its concepts to serve strategically the ACME advertising agency by incorporating message information persuasion, as well as stipulating the consumer’s actions. I believe that these kinds of functional integration can effectively explicate the implementation of IMC principles in developing brand equity. Emphatically therefore, I did learn that IMC is essentially the art of managing brands and that IMC is a brand management tool. Adetunji et al (25) conceptualised a four-stage principle that I can use to implement IMC in developing brands for ACME: First, everything regarding a brand is considered communicative, second, the science and art of the brand is coordinated, third, brand relationship is created to establish brand value and lastly, external integration is achieved using internal integration. Brand Equity Based on IMC perspective, I view brand equity as describing a combination of a brand’s presence, perceived quality, image, and dedication among components, which culminate to long-term financial significant to the company and its shareholders (Ghodeswar 4-6). These rely on Psycho-physiological methods (See Appendix 1). In respect to ACME, I view brand equity in terms of the brand strength, financial perspective, consumer perspective, price elasticity and revenue premiums (See Figure 6). I therefore conceive that a brand’s dimensions are susceptible to the competitor’s actions, in addition to customer behaviours and attitudes or activities of the key stakeholders. Figure 6: Varied perspectives of brand equity I developed an understanding that the efforts to build a brand lead to four key areas that bring benefits to the company, namely; increased customer numbers in support of the brand, augmented customer income and loyalty, increased harnessing of the current customers and the organisation’s ability to spread the brand to new areas, leading to increased new customers and revenues (Incremental sale) (Figure 7). From the above description, I would suggest that the benefits of brand reflect the four main goals of marketing communication, namely retaining customers, acquiring customers, growing sales volume and increased migration of customers to use a brand. These four benefits can lead ACME to increase revenues from the brand, assure better earnings, and create potential for new earnings, as reflected in convex-shape sales-to-advertising response. Figure 7: convex-shape sales-to-advertising response Figure 8: Brand preference and brand equity Correlation between brand equity and IMC As learned from the course unit, effective marketing communication leads to the creation of positive brand image and brand awareness. Ultimately, these form the brand knowledge structures that in turn lead to separate responses that make up brand equity (Figure 8). I opine that IMC approach would be critical to ACME’s brand development and that it would make the interface between the company’s customer-based brand equity and brand identity or image even stronger. The conceptual model of brand identity, which hypothesises that aspirational brand image, offers direction to IMC in creating and sustaining customer-based brand equity supports this conception. Indeed, this perspective is further supported by the IMC reciprocity approach, which underscores brand relations that are described as the correlation existing between the customers and the companies, through exchange of product value over time. It is in my view that such reciprocity determines and consistently redefines each brand contact and each communication the customers and marketers deliver and receive. Advertising using IMC Drawing on my lecture notes, I posit that advertisement is an indivisible communication genre and an outstanding part and parcel of marketing communication tool that conforms to the theoretical and practical meaning of communication, which includes the transactions means of sharing meanings, ideas and information using symbols to negotiate awareness, perception and feedback. At any rate, I now understand that effective advertisement has to be effectively communicative in nature. As well, it should be able to integrate genre constituents such as visuals, words, colours, graphics in addition to other symbols that relay its functional messages that serves to persuade and inform the audience regarding an company’s products and services. On the other hand, feedback and audience reactions serve as the only means to determine the efficiency of advertisement in the same way other genres of communication. I still must acknowledge that several developmental factors have challenged the effectiveness of advertisement practices, as well as the messages and effective deliver of informative, persuasive and communicate symbols that trigger the customers or audience to act. It is these challenges that in my view signify the importance of IMC. I must opine that IMC synergises the entire communication approach to get customers or the audience more persuaded to act. Similar to other tools for marketing communication, advertising is useful for attaining particular promotions or commercial mission. In the unique case of advertising, it is often used to promote sales and to influence customer purchase decision. Essentially therefore, I view IMC as an ideological approach that is evolving to join the two functions together. In my opinion, these clarify what is meant by marketing communication. I perceive the term as implying a bunch of communication methodologies that ACME can use to get customers persuaded or even informed towards a product or price under the promotional psyche of the marketing mix: promotion, place, price, and product. I can therefore justify the application of IMC in advertising by explain that it is essentially stated to logically assist marketing practitioners to identify the efficient pathways for informing, influencing and persuading their consumers, as well as to understand the dominant way of creative persuasive, influential, appealing and communicative advertising message. Challenges Despite the potential to implement IMC without any hiccoughs, I acknowledge that IMC has several inherent and underlying challenges that are in my view critical to take into consideration, since I am likely to experience them at ACME. As a marketing practitioner, I understand that the greatest challenge would be the failure to comprehend fully the processes of integrated marketing communication, in addition to the significance of executing such processes within the organisations. Drawing from knowledge gathered from class, I perceive an inclination of organisations to view market as a cost factor instead of a driver of value within the organisation. At this stage, I must argue that until the connection between IMC, customer value and institutional branding are identified and appreciated, the benefits of IMC may not be realised. An additional critical issue is that IMC is often misinterpreted as a quick-fix approach. In which case, a long-term approach and institutional commitment are crucial to its efficiency. I therefore, submit that in an industry, such as where AMCE operates, and where emphasis is placed on quarterly growth earnings and fast return-on-investment, these long-term strategies are usually accorded great consideration. Therefore, to establish IMC’s significance over the long-term at ACME, there is a need to develop longitudinal measures of the effects and implications of IMC. Lastly, I learnt that varied dimensions and levels of integration exist that cause collective and individual complexities. Accordingly, to be implemented, IMC needs the participation of the entire organisation, as well as its agents, including from the executive management downward. To promote such participation, I would consider designing compensation systems to identify and strengthen efforts to ensure success of IMC. To this end, I suggest that IMC cannot be simply suggested as a marketing strategy for any organisation. It has to be practiced by each member in the organisation, who stands to be rewarded for that reason. Debatably, the cause of turbulence seen through conceptualisation of IMC is linked to its flexible nature, as well as for being an accessible tool for a range of correlated areas of marketing communication including public relations, marketing, advertising and branding. In my view, an important supposition of IMC is that it is a concept that incorporates the practices of marketing communication fields. 3. Conclusion The benefits of brand equity reflect the four main goals of marketing communication, namely retaining customers, acquiring customers, growing sales volume, and increased migration of customers to use a brand. These four benefits can lead ACME to increase revenues from the brand, assure better earnings, and create potential for new earnings, as reflected in convex-shape sales-to-advertising response. I would seek to make IMC more strategic and less exceptional at ACME, centred on advertising and sales promotion, inclusion of one-way and two-way communication and lastly results driven. However, until the connection between IMC, customer value, and institutional branding are identified and appreciated, the benefits of IMC may not be realised. Next, to establish IMC’s significance over the long-term at ACME, there is a need to develop longitudinal measures of the effects and implications of IMC. To be effectively implemented at ACME, IMC needs the participation of the entire organisation, as well as its agents, including from the executive management downward. Overall, IMC is theoretically a universal brand equity remedy that consists of the practicality, descriptions, and functioning and measurement of its efficiency. However, an unequivocal strategy and strategies of implementing the concepts of IMC in advertisement, which in my opinion still remains incomprehensible. References Adetunj, Raji, Shahrina Nordin and Shuhaida Noor. "The Implementation of Integrated Marketing Communication (IMC) Principles in Branding and Advertising: A Conceptual Exploration." New Media and Mass Communication 21 (2014): 23-28 Edmiston, Dawn. “An examination of integrated marketing communication in US public institutions of higher education." International Journal of Educational Advancement 8 (2008): 152-175 Ghodeswar, B. "Building brand identity in competitive markets: a conceptual model." Journal of Product & Brand Management, 17.1 (2008): 4–12 Reid, Mike, Sandra Luxton and Felix Mavondo. "The Relationship between Integrated Marketing Communication, Market Orientation, and Brand Orientation." Journal of Advertising 34.4 (2005): 11-23 Appendix Figure 9: Psycho-physiological advertising pre-testing methods Read More