PART 1: General Research
1. Discuss the aspects of the IMC. (The elements of the communication mix include: advertising, direct marketing, sales promotion, publicity/public relations and personal selling.) Define each and discuss the pros and cons of the individual elements.
PART 2: Application to Product/Service
2. Provide a quick overview of the product or service you created â?" you should continue using the content from the U3 Discussion Board.
3. Provide a detailed description of your IMC approach. Explain your rationale for choosing or rejecting the specific elements (include applications to the earlier research section). What changes do you expect to make as the product/service matures?
4. Describe the message you wish to communicate based on your core strategy. Explain your rationale for the message. Formulate how you will communicate with your target market? Be specific. How will the internet be used in your IMC approach?
5. Select and explain the most suitable method for measuring advertising effectiveness. Your decision must include research to back up the selected method. Be sure to explain why this is the most effective method to measure the effectiveness of your marketing campaign.
The response addresses the queries posted in 2266 words with references.
//The Integrated marketing communication (IMC) is a critical aspect of a company's marketing strategy, whether it is involved in B2B exchanges, B2C marketing or non-profit organisation. In this paper, firstly, we will discuss the concept of IMC and then elaborate the pros and cons of various elements of marketing communication tools.//
Integrated Marketing Communication entails planning, creation, integration and implementation of all the marketing communication tools (Marcom) like advertising, direct marketing, sales promotion, etc., to maximise its impact on consumers with minimum cost. For developing effective integrated marketing communication opportunity, the analysis of promotions, buyer behaviour, brand management and advertising management is essential (Shimp, 2010). The major marketing communication tools are:
l Advertising is non-personal presentation and promotion of ideas, goods and services by an identified sponsor in paid form. Advertisement is the way to popularise the products or services among the customer and prospects. It can be done through different mediums like print media, radios, televisions, internet, etc. Advertisement has an impact on the large number of customers across a wide geographical area. The customers are quickly attracted and influenced by the ads and consider advertised goods as legitimate. It helps in building the brand image, stimulating the short term sales and building the customer trust. But, since it is impersonal and cannot answer all the customer's questions, it does not influence the customers to make a final purchase decision. It is very expensive also.
l Direct Marketing is interacting with the customers and prospects directly to promote the product for creating awareness and generating sales. For example, telemarketing, direct mail, online marketing, door to door marketing, etc. It is beneficial because it helps in targeting the potential customers and maintains personal relationship with them. It helps to reach those customers who do not go to shops. In door to door selling, there is no intermediary (retailers) to take part in the profits. But, it is costly due to the cost of distribution of promotional material, time consuming and covers only a limited geographical area.
l Sales promotion is providing incentives, discounts, and offers to customers or distributors for stimulating the product demand. It boosts the advertising and promotions to increase the sales with the help of premiums, coupons, contests, etc. It can stimulate quick rise in sales by promotional incentives and attracting the attention of the customers. It serves as a short term tactical tool. But, it is a short lived and not effective in establishing the long term brand image and preferences. Too much promotion may negatively impact the customer's perception about the product and can lower the brand image.
l Public Relation is the communication about the product, service, and brand in media without paying for it. For example, writing about the product in magazine editorial. It focuses the potential customers, who may include from government regulators, other officials, consultants advisors, etc. This type of communication is always considered credible since the message is conveyed by the third party, such as magazine, newspaper, etc. It is a low cost way of reaching to customers. But, it has a risk of loosing control over the promotional content as the opinion of writer can not always be effective. If it is not controlled, it may lead to negative publicity.
l Personal Selling is oral communication and personal interaction with the customers with an intention to develop a long term relationship and to close the sale successfully. It is highly interactive and influences the purchasing decision of the customers, as it satisfies all the ...
The response explains different marketing approaches, profiles the product and then says which should be applied to that product in 2266 words with 7 references.
Core Strategy and Marketing Mix
First, I need to create core strategies which include the value proposition and product proposition . Also have to provide a marketing mix and include the following:
1. Provide a detailed description of IMC approach and the corresponding promotion strategy necessary to send my message to my target market. For example, the elements of the promotion strategy include: advertising, personal selling, public relations, direct marketing and sales promotion and how I would use them to communicate with the target segment.
2. Explain my rationale for choosing these specific elements.
3. Describe the message I wish to communicate based on the core strategy and explain my rationale for the message.
4. Develop a strategy to measure the effectiveness of the IMC.
5. Did the internet play a role in how I developed the marketing approach? Why or why not?
My product is called the alcohol monitoring system. It is a alcohol breath anlyzer that can be installed in the seat belt of any car by the manufacturer. The cost is approximately $400.00 per unit. The target audience for the Alcohol Monitoring System is auto dealerships/manufacturers, parents, legal system and auto insurance carriers in the United States. The concept of need will be perfectly applied to our target market. Our main premise of introducing this unique concept and product line is to address the problem faced by parents of young drivers, manufacturers, and the legal system. The problem or need to monitor and protect the lives of our lives ones and society in a preventative way is being answered in the best possible way by our product. Even though there are alternatives in the markets to address the problem of monitoring alcohol levels, none of these products have been able to address the peculiar and special need and want of parents and society in an efficient way of preventing a driver to drive under the influence of alcohol and be socially responsible. We have hit the nail on the head by launching a problem (drunk drivers can still drive) whose value proposition to our target market , i.e. parent of young drivers, auto insurance carriers and auto manufactures, is the fact that it addresses their special needs and wants in the best possible convenient way and provides solution to host of other problems recognized by these consumers. The company which will be able to provide maximum consumer satisfaction and maximum possible solution to consumer needs and wants will be able to sustain in this competitive market. By targeting parents of young drivers, the company is fulfilling the need to protect their children by not allowing their kids to get behind the wheel of a car intoxicated. The auto manufacturers are fulfilling a need to be socially responsible. The auto insurance carriers are fulfilling a need to decrease their DUI accident claims. By advertising this product to protect the children as well as others, to protect the public, to lower your auto premiums, and to be socially responsible by acquiring the A.M.S. , the company is fulfilling the consumer needs and wants. The competition has hand-held devices, keys, or dashboard breath analyzers. Our product is embedded in the seat belt, which means it cannot be tampered with; it cannot be manipulated by someone blowing into the monitor.
Mission Statement: To enhance public safety by ensuring the accuracy and scientific reliability of evidentiary breath alcohol tests, facilitating enforcement of Implied Consent Laws and Administrative Rules, and promoting the qualifications and professionalism of persons responsible for breath alcohol analyses.
? Increase car dealerships, law enforcement agencies, parents, insurance companies, and other organizations awareness of this new product by 40%.
? Reach sales target of 30,000 units at $400.00 per unit by 2007.
? Obtain and maintain a good business relationship with auto dealers
? Become one of the leading supplies of breath analyzers.
A.M.S. is an electronic chip and breathalyzer which is built into the seat belt and computer component of the vehicle. Whether the seat belt is buckled or unbuckled, the electronic chip will constantly monitor the alcohol level of the driver. If the electronic device interprets the alcohol level of the driver is above the drinking and driving level, it will not allow the vehicle to start at anytime. This product will have two components. One will be attached to the seat belt that cannot be removed; if the product is removed the vehicle will not start due to the signal or lack of signal being sent to the electronic component installed in the vehicle computer system. This product will be optional at all car dealerships.View Full Posting Details