Emerging Model for IMC

Emerging Model for IMC

Introduction

Integrated Marketing Communication (IMC) is the integration and coordination of all marketing communication avenues, tools, sources, and functions within a company into a unified program, maximizing the effect on consumers and other end-users at a reduced cost (Ang, 2018). The rationale behind using IMC is to achieve the promotional objectives of getting to the target markets and raising awareness of the products and services offered by companies.IMC may, therefore, involve combining different promotional tools such as personal selling, advertising, direct marketing, sales promotion, public relations, publicity, and interactive marketing. The current IMC strategy is extended by social communications because they highlight the word-of-mouth exchanges between those receiving marketing communications messages. The current IMC strategy is also facilitated by the increasing availability and use of social media and the creation of social transactions that might be seen as a unified web of social interactions. The extension is a highly influential and powerful part of the IMC model. The development of relatively sophisticated and ubiquitous technology has enhanced word-of-mouth and facilitated interactive and inter-connected social communications on a previously unsuspected scale and has been portrayed as a new social and behavioral phenomenon that ought to be carefully considered in developing and implementing integrated communication campaigns. This paper analyzes the changes to the IMC strategy a company faces in light of the digital upheaval led by Google, Yahoo, Microsoft, and others.

Discussion of Changes

One of the changes to the IMC strategy a company faces in light of the digital upheaval led by Google, Yahoo, Microsoft, and others is transitioning from traditional marketing strategies to social media marketing. Companies are currently using social media platforms to achieve micromarketing, where they focus on directly reaching customers on a personal level. The most prevalent micromarketing strategy is mailing customers regularly with a direct mail package printed in different versions (Esu & Anyadighibe, 2014). The messages in the email are tailored based on the customer’s past behavior and based on the likelihood of a product suiting their taste and needs. Companies are also shifting their focus on the information unlocked by loyalty marketing. In the marketing context, where value creation and competitive advantage are highly based on information, knowledge is no longer the main objective but a requirement for action. Micro-marketing leaders who have gained data analysis experience are now focusing on using customer insight to compete (Esu & Anyadighibe, 2014). This includes understanding specific customer needs and preferences. This information is then used to customize products and services and differentiate them to maintain customers and attract new ones who are attracted to the customized products. Companies are also using social media platforms to interact with customers and get their feedback on different products and services. Customers can also communicate with each other on social media platforms and provide reviews of their experiences using various products and services. This has prompted companies to open various social media accounts to monitor communication among customers as they regularly update customers on new products and services.

The other change to the IMC strategy a company faces in light of the digital upheaval led by Google, Yahoo, Microsoft, and others is adopting the micro-macro and micro-micro approaches. The micro-macro approach leverages customer information to innovate or improve the macro variables of a company’s proposition based on communication, range, and promotions (Schindler & Schindler, 2011). Companies are beginning to use a micro-micro approach to target a specific group of customers with a devoted marketing activity while discriminating against customers who do not fall within the timeframe of the activity. Companies mainly use two targeting choices in the implementation of the micro-macro approach. The first approach is targeting extension or retention. This approach is also known as the defensive approach. In its implementation, a company targets a group of loyal customers either through a partnership with a manufacturer or on its own with the aim of retaining customers or changing their behavior in the company’s favor. The second approach is targeting for acquisition. This approach is also known as offensive promotion. It is used when the target customer is a part of marginal customers, such as occasional customers and those who are less profitable (Singh, 2010). The micro-micro approach also concentrates on specific, actionable, and responsive target segments with promotional activities involving specific brands, hence catching the attention of manufacturers. It can also create partnership opportunities that rely on the effective acquisition and retention of the partnership.

Conclusion

IMC has had a significant impact on helping companies achieve better marketing and maintain contact with their customers. The changes in IMC strategy are attributed to developments in telecommunications, including the rise of social media marketing. Companies such as Google, Yahoo, Microsoft, and others have created an upheaval that has spurred changes to IMC’s strategy. The main changes are attributed to how the company approaches new customers. The main changes have been as a result of the extension of the IMC strategy to incorporate more direct marketing, including the use of emails through micromarketing and micro-macro and micro-micro marketing. These changes may, however, continue extending beyond the use of social media due to developments in telecommunication.

References

Ang, L. (2018). Integrated marketing communications. Communication. https://doi.org/10.1093/obo/9780199756841-0204

Esu, B. B., & Anyadighibe, J. A. (2014). Social media Micromarketing and customers’ satisfaction of domestic airlines in Nigeria. American Journal of Tourism Research, 3(1). https://doi.org/10.11634/216837861403412

Schindler, R. M., & Schindler, R. (2011). Pricing strategies: A marketing approach. SAGE.

Singh, V. (2010). Micro-macro Bob — Contributions using micro consumer models to address macro marketing problems. Perspectives on Promotion and Database Marketing, 261-264. https://doi.org/10.1142/9789814287067_others06

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Emerging Model for IMC

Write a paper (750-1,000 words) that analyzes the changes to the IMC strategy a company faces in light of the digital upheaval led by Google, Yahoo, Microsoft, and others.

The paper should consider the five forces of competition, including competitors, buyers, suppliers, potential entrants, and substitutes.

The paper must be supported by appropriately cited research.