PBL 3 (4.2.)

PROBLEM

How to communicate value through IMC ?

Learning objectives

1. What does integrated marketing communication mean?

•  How can we define the term IMC? What’s the difference between the term Integrated Marketing?

• According to Business dictionary: "An approach to achieve the objetives of a marketing campaign through a well coordinated use of different promotional methods that are intended to reinforce each other."
• As defined by the American Association of Advertising Agencies: "IMC recognizes the value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines advertising, public relations, personal selling and sales promotion and combines them to provide clarity, consistency and maximum communication impact."

I would say Red Bull is a good example of implementing IMC. They use different campaigns and events (e.g. Red Bull Crashed Ice 2015 in Helsinki) to promote their brand and product.

Everyone in the video is using Red Bull logos, there is a Red Bull helicopter etc. This was also in the news around the world and the video has been viewed over 37 million times! 

• Why should we use IMC? And what are the barriers to IMC?

• 5 Reasons why IMC is important nowadays:
• More contact points
• More specialized media
• More than ever, customers are king
• Marketing is now more data-based
• More widespread Internet use
• Can save you money
• Helps you provide customers with information in the format they prefer
• Helps reinforce basic the basic campaign themes

Source: https://stevensonfinancialmarketing.files.wordpress.com/2012/07/integrated-marketing-services.gif

• What is the stages model of the IMC approach?

Source:http://journals.cambridge.org/fulltext_content/JAR/JAR44_01/S0021849904040048fig002g.gif

2. How to integrate value proposition / methods to different audiences?

• Proof points
• Supporting stories
• Illustrative Images

In today's world it's about creating value for your customer. Customers don't want features or benefits but profits. E.g. satisfaction, comfort etc.

As stated by Dr. Rick Johnson: "Perceived value drives customer expectations." The higher you raise customer expectations of you as a supplier, the closer you come to creating competitive advantage. But of course, you must be able to meet those expectations you set.

You must have the ability to be able to explain, educate and sell the value propositions to your customer. Customer defines the value.

According to Rick Johnson: "Most sales people have customers that do business with the company simply because they like and trust the sales person. That is a personal value proposition. This is created by the way you treat the customers, handle their transactions and supply value in your relationship by helping them solve problems even if those problems have no relationship to your products."

Sources:

http://www.businessdictionary.com/definition/integrated-marketing-communications-IMC.html

https://intermediamarketing.wordpress.com/2008/05/02/integrated-marketing-communications-why-is-it-so-important/

http://smallbusiness.chron.com/importance-integrated-marketing-communications-73248.html

http://www.varnmedia.co.uk/11/12/integrating-your-business-value-proposition-online/

http://www.4hoteliers.com/features/article/2862