What is integrated marketing communications? What is its significance in the current marketing environment?
What will be an ideal response?
Many companies still rely on only one or two communication tools. This practice persists in spite of the fragmenting of mass markets into a multitude of minimarkets, each requiring its own approach; the proliferation of new types of media; and the growing sophistication of consumers. The wide range of communication tools, messages, and audiences makes it imperative that companies move toward integrated marketing communications. Companies must adopt a "360-degree view" of consumers to fully understand all the different ways that communications can affect consumer behavior in their daily lives.
The American Marketing Association defines integrated marketing communications (IMC) as "a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time." This planning process evaluates the strategic roles of a variety of communications disciplines—for example, general advertising, direct response, sales promotion, and public relations—and skillfully combines these disciplines to provide clarity, consistency, and maximum impact through the seamless integration of messages.
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Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,000. The division sales for the year were $960,000 and the variable costs were $475,000. The fixed costs of the division were $527,000. If the backpack division is dropped, 40% of the fixed costs allocated to that division could be eliminated. The impact on Granfield's operating income for eliminating this business segment would be:
A. $485,000 decrease B. $274,200 increase C. $210,800 increase D. $485,000 increase E. $274,200 decrease
Before marketers can develop an appropriate marketing mix, they must
A. adopt a sales orientation. B. determine the customer lifetime value. C. build relationships with stakeholders. D. practice the marketing concept. E. collect in-depth, up-to-date information about customer needs.
One major challenge for managing your negotiating team is implementing discipline among team members to follow the strategy once the negotiation begins. What are the three suggestions from the text on how to manage the challenge of implementing team discipline?
What will be an ideal response?
The work sheet is a required report made available to external decision makers.
Answer the following statement true (T) or false (F)