In addition to this, the importance of IMC for companies is still unknown. This can be seen from the fact that company which are not making use of integration of their marketing activities are still able to prosper. Let’s consider the example of PepsiCo and Coca Cola. Coca Cola has made sure that all its marketing campaigns show the same message about the company and help the consumers relate
It is found that these days most of the large-scale organisations are quite keen to adopt effective ways through which they can easily promote their products and target their customer appropriately. For that reason, they often take assistance from different media agencies that would help them to execute their market plan in a more accurate way (Locksley, 2009). It is noted that times are varying for media organisations and with an uncommon volume of information accessible, an expanding number of ways to the purchaser, and a developing number of innovation organisations manoeuvring to be their picked partner or, in a few cases, their customers' picked accomplice for attaining their goals and targets. Moreover, programmatic innovations are making media purchasing, or the procedure of executing a media booking, a moderately clear managerial task, while arranging and campaign improvement are turning out to be progressively nuanced. In addition, agencies have needed to develop, and the more imaginative ones have officially discovered better approaches to enhance their advertising (Pringle & Marshall,
When change is required, the challenge is to re-interpret the brand positioning in a way that is appropriate to the current time and culture. Thirdly, packaging of a product must be appealing, outstanding and attractive. A good packaging can help in building image and identity of the product. Fourthly, price should be appropriate which means equity between the value of the product and the price. Besides, the location selection of the product has a powerful effect.
This approach totally focuses on the consumers which help to provide a new and different view of planning, developing and implementing a program for marketing communication typically known as IMC approach. Through this approach the organizations could acquire knowledge through understanding consumers and certainly accommodate the effective means for implementing communication and marketing. Marketing relations helps in building frequent conversations between stakeholders and organization and that result in increased trust (Shank, 2014). Communication, therefore, builds a rapport that is very profitable in retaining clientele. It also offers unique ways through which planning can be made because its operation is backward.
The effectiveness of marketing strategies is enhanced by brand equity assets. Brand equity depends upon the favorability of the attitudes which customers hold about a particular brand. Building positive brand equity would enable an organization to enjoy a competitive advantage. It is imperative for firms to create unique, strong and favorable associations for building strong brands. Understanding the various dimensions of brand equity would help the organizations to know the value provided by the brands to its consumers.
Explain the relationship between the communication mix and branding in retailing? "Retailing encompasses the business activities involved in selling goods and services to consumers for personal, family, and household use." Retailers buy large quantities from manufacturers or wholesalers and then sells small quantities to consumers to earn profit. Retailing is important because consumers demand to have goods and services that they need. For Retailing to occur, a business must have the tools necessary for communicating to the consumers its goods and services.
Introduction to Business Marketing Communication Business marketing communications plays an important role in activating and nourishing customer relationships and achieving business success (Low, 2000; Rest et al., 2004; Zahay et al, 2004). Business marketing communication in today’s dynamic world calls for an integration which is reflected on the company performance as well. The below summarized research studies mainly convey importance of communication and they more or less have a common requirement i.e. IMC. Integrated Marketing communication (IMC) is the combination of all elements of the marketing communication mix ((Pickton in Hartley, 1998; Duncan, 2002) which enables synergy between the decisions and activities and lead to better performance.
While the self-concept is the image that the individual has – or would like to have – of him and he conveys to his entourage. These two concepts greatly influence the individual in his choices and his way of being in everyday life. And therefore also his shopping behavior and purchasing habits as consumer. In order to attract more customers, marketers should trying to develop an image and a personality that conveys the traits and values or desired of consumers they are targeting.Because consumers do not just buy products based on their needs or for their intrinsic features but they are also looking for products that are consistent and reinforce the image they have of themselves or they would like to have. An individual’s personality also affects his buying behaviour.
Rossiter, Percy and Donovan (1991) stated that developing a positive attitude towards brand is of no significance, if there is lack of brand awareness among consumers. They have emphasized the importance of creating brand awareness for developing a positive attitude towards the brand. Rossiter and Percy () have also noted that the strength of the awareness of brand in consumer’s memory can be known by doing brand recognition. Bogart (1986) notes that advertisers continuously tries to remind the customer, so that the name of the advertised brand is remembered by the viewers. They have observed that awareness will help the brand name to be in consideration set and the probability of purchasing increasing.