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Integrated Marketing Communication Chapter One: An Introduction to Integrated Marketing Communications Prof Pierre Xiao LU, Fudan University What is Marketing? The Growth of Advertising and Promotion Expenditure in Billions of Dollars Advertising Outside U.S. 2004 U.S. Sales Promotion 1980 U.S. Advertising $0 $50 $100 $150 $200 $250 $300 Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization. Value Relationship marketing Mass customization Customer relationship management (CRM) $350 Coordinated Marketing Mix Elements Build Image Traditional Approach to Marketing Communications Point of purchase Special events Publicity Media Advertising Public relations Direct marketing Sales promotion Packaging Direct response Interactive marketing © 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin 1 Contemporary IMC Approach Defining IMC Sales promotion Packaging Point of purchase Publicity Interactive marketing Direct response Media Advertising Direct marketing Public relations IMC is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communication programs with consumers, customers, prospects employees and other relevant external and internal audiences. The goal of IMC is to generate short-term financial returns and build long-term brand value. Special events © 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin A Contemporary Perspective of IMC Reasons for the Growing Importance of IMC From Recognized as a business process IMC Importance of relevant audience Multiple relevant audiences Demand for accountability and Demand for accountability Measurement of Outcomes Toward Media advertising Multiple forms of communication Mass media Specialized media Manufacturer dominance Retailer dominance General focus Data-based marketing Low agency accountability Greater agency accountability Traditional compensation Performance-based compensation Limited Internet availability Widespread Internet availability IMC and Branding Basic Elements of the Promotional Mix Brand Identity is a combination of factors: Name, logo, symbols, design, packaging, product or service performance, and image or associations in the consumer’s mind. IMC plays a major role in the process of developing and sustaining brand identity and equity. 2005-2010 Brand Value (Billions of Dollars) 1. Coca-Cola $67.52 70.45 2. Microsoft $59.94 60.89 3. IBM $53.38 64.73 4. GE $46.99 42.81 5. Intel $35.59 32.02 6. Nokia $26.45 29.50 7. Disney $26.44 28.73 8. McDonald’s $26.01 33.58 9. Marlboro $24.84 10. Mercedes $21.19 25.18 Advertising Direct Marketing Interactive/ Internet Marketing Sales Promotion Publicity/Public Relations Personal Selling 2 Classifications of Advertising Direct Marketing is Part of IMC National Advertising Retail/Local Advertising Primary vs. Selective Demand Advertising Consumers Direct Mail Direct Response Advertising Internet Sales Direct Marketing Business-to-Business Advertising Shopping Channels Professional Advertising Telemarketing Catalogs Trade Advertising Organizations Bose Uses Direct Response Advertising Sharp Creatively Integrated Advertising and the Internet Sales Promotion Tools Using the Internet as an IMC Tool Coupons The Internet Samples Premiums Contests/Sweepstakes Refunds/Rebates Educates or informs customers A persuasive advertising medium A sales tool or an actual sales vehicle Bonus Packs Loyalty Programs Events Obtains customer database information Communicates and interacts with buyers Provides customer service and support Builds and maintains customer relationships • Consumer-oriented • [For end-users] Trade Allowances POP Displays Training Programs Trade Shows Coop Advertising Trade-oriented [For resellers] © 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin 3 Various Uses of Sales Promotion Introduce new products Combat competition Enhance personal selling Factor Attract new customers Sales Promotion Tie in advertising & personal selling Advertising Versus Publicity Get existing customers to buy more Maintain sales in off season Increase retail inventories Publicity Vehicles Control Great Little Credibility Lower Higher Reach Measurable Undetermined Frequency Schedulable Uncontrollable Cost High/Specific Low/Unspecified Flexibility High Low Timing Specifiable Tentative Publicity Vehicles Interviews Publicity Vehicles Press Conferences Print media (newspapers, magazines) Public Relations/ publicity Out-of-home media Corporate Advertising Cause-related Marketing Special Event Sponsorship The Marketing Plan Internet/ interactive Direct marketing Target Audience Personal selling Community Activities Special Publications Public Affairs Activities Special Events IMC Audience Contact Tools Broadcast media (TV/radio) Publicity Public Relations Tools Feature Articles News Releases Advertising Sales Promotion 1. A detailed situation analysis 2. Specific marketing objectives 3. A marketing strategy and program 4. A program for implementing the strategy Point-ofpurchase (displays, packaging) Word-ofmouth Events and sponsorship Product placements (TV and movies) 5. A process for monitoring and evaluating performance 4 Integrated Marketing Communications Planning Model Review of marketing plan Promotional program situation analysis Analysis of the communications process Budget determination Develop integrated marketing communications programs Advertising Sales promotion PR/ publicity Personal selling Direct marketing Internet/ interactive Advertising objectives Sales promotion objectives PR/ publicity objectives Personal selling objectives Direct marketing objectives Internet/ interactive objectives Message strategy Sales promotion strategy PR/ publicity strategy Personal selling strategy Direct marketing strategy Internet/ interactive strategy Integrate and implement marketing communications strategies Monitor, evaluate and control IMC Program 5