Chapter 1 - An introduction to integrated marketing communications. After reading the material in this chapter, you should be able to: To examine the marketing communication function and the growing importance of advertising and other promotional elements in the marketing programs of domestic and foreign companies, to introduce the concept of integrated marketing communications (IMC) and consider how it has evolved. | Chapter 1 An Introduction to Integrated Marketing Communications Marketing Activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for: Customers, clients, partners, and society at large Exchange: Involves parties with: Something of value to one another Desire and ability to give up something to the other party Way to communicate with each other Marketing Mix Product, price, place, and promotion To develop an effective marketing mix, marketers must: Be knowledgeable about the issues and options of each element of the mix Know how to combine the elements to form an effective marketing program Analyze the market and use the data to develop the marketing strategy and mix Integrated Marketing Communications (IMC) Coordinate various promotional elements and other marketing activities that communicate with a firm’s customers Evaluates the strategic roles of a variety of communication disciplines Combines the disciplines to provide clarity, consistency, and maximum communications impact Recognizes the added value of a comprehensive plan that: Ensures all marketing and promotional activities project a consistent, unified image Integrated Marketing Communications (IMC) Criticism - Inside-out marketing approach Packs promotional mix elements together, making them look and sound alike Contemporary perspective Goal - Generate short-term financial returns and build long-term brand and shareholder value Views IMC ongoing strategic business process Growing Importance of IMC Strategically integrates the various communications functions Avoids duplication and takes advantage of synergy among promotional tools Develops more efficient and effective marketing communications programs Evolution to micromarketing Consumers’ unresponsiveness to traditional advertising Changing rules of marketing Changing environment Integrated Marketing Communications (IMC): Role in Branding | Chapter 1 An Introduction to Integrated Marketing Communications Marketing Activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for: Customers, clients, partners, and society at large Exchange: Involves parties with: Something of value to one another Desire and ability to give up something to the other party Way to communicate with each other Marketing Mix Product, price, place, and promotion To develop an effective marketing mix, marketers must: Be knowledgeable about the issues and options of each element of the mix Know how to combine the elements to form an effective marketing program Analyze the market and use the data to develop the marketing strategy and mix Integrated Marketing Communications (IMC) Coordinate various promotional elements and other marketing activities that communicate with a firm’s customers Evaluates the strategic roles of a variety of communication disciplines .
