Value of integrated marketing and non-quantifiable tools
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1. What is integrated marketing? What is the value of integrated marketing in today's business environment? How is it different from traditional marketing?
2. What are non-quantifiable tools in marketing? How can these tools be evaluated? What is the value of using these tools? How does a marketing plan justify the non-quantifiable tools in its strategy?
3. What are the different types of marketing analyses tools available for business? How are the outcomes different? How are the different analyses tools important in developing an IMC? Give an example.
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Solution Summary
The solution examines the value of integrated marketing and non-quantifiable tools.
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Answer 1
Integrated marketing communication is one of the important trends of the marketing process. This is an emerging issue in the field of marketing (Kotler, 2002). Integrated Marketing can be defined as plan made for the outcome of the hoards of work by the company's department. This is carried out with an objective to serve the interests of the various customers (Brito, 2006).
Integrated marketing exists at two levels - first, the various functions of marketing i.e. advertising, product management, customer service and marketing research that must functions together (Marketing Executives Identify Top Marketing Trends, Concepts in 2008, 2009). These functions of marketing must be aligned with each other for them to play a major role in the market that affects the customers. Second level is that the marketing must cover other departments also. It should not work as a sole department, but should be updated about the other departments that being affected by its marketing tools and techniques (Brito, 2006).
Value of Integrated Marketing
Presently, in the competitive business environment, integrated marketing provides a competitive advantage to the business (Kotler, 2002). This encourages the promotion of goods and services provide an opportunity to the business organizations to advertise and promote the products and services at the international level with the help of offline and online marketing communication techniques (Marketing Executives Identify Top Marketing Trends, Concepts in 2008, 2009).
Differences from Traditional Marketing
The concept of traditional marketing involves the promotion of the products at the ...
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