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Imc
It is essential for organizations to promote their brands well among the end-users not
only to outshine competitors but also survive in the long run. Brand promotion increases
awareness of products and services and eventually increases their sales, yielding high
profits and revenue for the organization.
To understand integrated marketing communication, let us first understand what does
brand communication mean?
Brand communication is an initiative taken by organizations to make their
products and services popular among the end-users. Brand communication goes a
long way in promoting products and services among target consumers. The process
involves identifying individuals who are best suited to the purchase of products or
services (also called target consumers) and promoting the brand among them through
any one of the following means:
Advertising
Sales Promotion
Public Relation
Direct Marketing
Personal Selling
Know your products well. Include features and essential components of your
brand.
Target market needs to be described well. Plan out how your brand can meet and
exceed customer expectations. Have clarity as to how your brand is better than
your competitors and why should consumers only buy your product and not go
anywhere else. It is essential to read customers mind and know their
perceptions.
Compare your brand with the competitors. Write down how your brand is
better than competitors? You need to keep a close watch on competitors
activities.
Specify the tools and methods which would help you create awareness of your
brand.
The Process
Now that you understand what media planning is, it is time to review the process. The process
includes:
Market analysis
Implementation
Market Analysis
Performing a market analysis involves determining who your audience is. The audience is the
number and type of people your advertising targets. The audience can be classified according to
age, sex, income, occupation, etc. Performing this analysis will help you to project costs and
determine the right media for your campaign.
Implementation
You have a plan. Now it's time to set it in motion. This is when you buy media. Media buying is the
purchasing of the space in the selected media. This involves committing to the media provider,
submitting the ad, and paying the bill. This is the exciting part. You see all your hard work come
together.
Pulsing: Strategy of running campaign steadily over a period of time with intermittent
increase in advertising at certain intervals, as during festivals or special occasions like
Olympics or World-Cup.
MEDIA STRATEGY
A media strategy \is a plan of action that helps businesses reach their
target audience and by reaching their target audience they improve
their overall conversion rate. When trying to capture the attention of a
niche market, it's important to know the exact demographic and what
will get their attention in the most effective way.
Key Components to Consider When Creating Your Media Strategy
Identify Your Target Market
The demographics of your target audience should be taken into consideration. The
more you know about your target market the more effective your overall
marketing strategy will be. You will need to identify your market, where and how
they spend their time, and how the audience can most effectively be reached. For
example, marketing through mobile apps and social media would be more
effective for reaching the teenage demographic than print and traditional
media would be.
Importance of Measurable Objectives
One thing to keep in mind during the strategy process is your overall marketing
objectives and goals. They need to be measurable and specific; if a goal is simply,
"make more money," it can be measured, but there are no
specifics tactics involved. "Increase profits by 20% by Q3" is a much more
specific, realistic goal
Determine Your Marketing Budget
In your media strategy, you must also consider your marketing budget. Without a
budget, it is possible to throw tens of thousands of dollars at a problem without
seeing a clear solution. However, having a set budget encourages you to think each
tactic through and be more creative in your problem-solving and protects you from
overspending or spending money that you do not have.
Learn From Your Results
The most effective media strategies are those that evolve over time. If a company
launches one strategy that doesn't have the expected results, the company can learn
from where it went wrong and improve subsequent launches. This is why
measuring results are important; they provide valuable data that can be
implemented into future media strategies to improve them.
4. Taking the feedbacks from the clients as well as the customers and then deciding the further line
of action
All companies can do this work by themselves. They can make ads, print or advertise them on televisions
or other media places; they can manage the accounts also. Then why do they need advertising agencies?
The reasons behind hiring the advertising agencies by the companies are:
The agencies are expert in this field. They have a team of different people for different functions
like copywriters, art directors, planners, etc.
The agencies make optimum use of these people, their experience and their knowledge.
Starts work from gathering data and analyzing and ends on payment of bills to the media
people.
2. Interactive Agencies
The ads produced are very interactive, having very new concepts, and very innovative.
3. Creative Boutiques
Small sized agencies with their own copywriters, directors, and creative people.
Finally supervises or checks whether the ad has been telecasted at opted time and place
or not.
5. In-House Agencies
Big organization prefers these type of agencies which are in built and work only for them.
There are some specialized agencies which work for some special advertisements. These types of
agencies need people of special knowledge in that field. For example, advertisements showing social
messages, finance advertisements, medicine related ads, etc.
2. Radio
Following are the specific characteristics of radio:
3. Newspaper
4. Magazine
Following are the specific characteristics of magazine:
There are magazines for sports, corporate, business, women. children, etc., so we can say
magazines have specific audience selectivity, as they are specialised,
Magazines have longer life,
Magazines provide them opportunity for message scrutiny, and geographic and demographic
flexibility.
5. Outdoor
Following are specific characteristics of outdoor media:
Outdoor media is easily noticeable, and it provides 24 hours
coverage,
Outdoor is location specific media, it has local market presence,
Outdoor media is Cost efficient medium,
It can be good reminder media.
PYSCHOGRAPHIC SEGMENTATION
Vals which is also known as values attitude and lifestyle is one of the
primary ways to perform psychographic segmentation
VALS is different for different people. Lets take income as an example. If you
are a person with high income your lifestyle would probably include habits of
the SEC A class such as dining out of home frequently and that too in top class
restaurants, wearing only branded clothes and buying the best cars out there.
Whereas if you are a middle class income group consumer, you would be more
wary of spending money and would rather concentrate on savings.
The VALS framework
being different. This class of consumers is filled up with early adopters who
spend heavily on food, clothing and other youthful products and services.
Makers These are consumers who also want self expression but they are
limited by the number of resources they have. Thus they would be more
focused towards building a better family rather than going out and actually
spending higher amount of money. Making themselves into better individuals
and families becomes a form of self expression for the Makers.
Survivors The class of consumers in the Vals framework with the least
resources and therefore the least likely to adopt any innovation. As they are
not likely to change their course of action regularly, they form into brand
loyal customers. An example can include old age pension earners living
alone for whom the basic necessities are important and they are least likely to
concentrate on anything else.
Psychographic Segmentation
Segmentation is used mainly to target a certain group from within a
population. Psychographic segmentation is one which uses peoples lifestyle,
their activities, interests as well as opinions to define a market segment.
Psychographic segmentation is quite similar to behavioral segmentation. But
psychographic segmentation also takes the psychological aspects of consumer
buying behavior into accounts. These psychological aspects may be consumers
lifestyle, his social standing as well as his AIO. Do refer more to Activities,
interests and opinons.
Lifestyle Everyone has different clothing habits based on their
lifestyle. The customer might be school going, college going, office going or
other. Thus by lifestyle we mean, where does the customer stand in his life
cycle. Similarly, the lifestyle of a rural area customer might be different from
urban areas.
Activities interests and opinions A subset of lifestyle, activities
interests and opinions also affect consumer buying behavior.
Activities The way a person carries out his work or the type of hobbies he
has tells a lot about a person. If he has a tough work and at the same time he is
also involved in numerous sports then we have a highly active person in hand.
Whereas if we have a computer operator who mainly likes indoor sports then
we have somone who is unlikely to head out of home on his weekends.
Interests What is the consumer interested in? Is he interested in food,
technology products, fashion or recreation? A consumers interests also help
marketers as they help him to decide on the right marketing message which
needs to be communicated to the prospect consumer.
Opinions Ask any political party or movie marketer and he will say that
audience opinion is one of the topmost factors affecting the rise or fall of a
political party or a movie. Opinions do matter. And especially in the age of
internet, opinions spread fast. Nowadays there are agencies taking care of
a brand online such that they can immediately give a feedback of what the
public opinion about a brand / product is.
Social class Different consumers fall in different social classes. This
depends mainly on their buying power. The buying power is affected by the
background of the customer, his income as well as his spending habits. The
customer will always buy to maintain his social class. Thus premium brands
like gucci, longines or others always target the Sec A segments because they
know that these would be the classes capable of buying their products.
Harley davidson biker more commonly known as Hogs. They would be
people unshaven, tall, manly who like to live a rough lifestyle. Thats the
personality built for harley over time. Thus brands target their customers even
based on their personality.