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IMC approach

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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.

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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.

The main aim of our IMC approach and the corresponding strategy is to effectively create an awareness about our products among our target market, ie, the upper strata or the high income earning segment in the society who can afford our exclusive and expensive arts and crafts. We need to properly communicate our "value proposition" to our target market via combining various elements of an effective IMC approach and promotional techniques. Since we are not a mass market company and trying to establish a niche for ourselves in the high end segment of the industry by catering only to wealthy individuals, our IMC approach should be very selective and unique. Let us discuss the various elements of the Integrated Marketing Communications and the corresponding promotion strategy one by one:

Advertising:

Since we are a startup and cannot afford to use expensive mediums like television, which is not only costly but also does not suit our purpose to target only high end customers, we will rely on print advertisements in magazines read by high end customers. We will place advertisements in exclusive life style and arts/crafts related magazines which is read by high end customers who have a flair for such exclusive products and have the ability as well to pay for it. Our advertisements will showcase some of our exclusive product lines and will also convey the message about the exclusivity as well as ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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