Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies
February 7, 2025
Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]
The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat WhistleblowersWhat is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]
Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen MonksHow Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]
Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic StrategiesGeopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]
Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional FranchisesIn the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]
Integrated marketing communication integrates all aspects of marketing mix to promote products and services among the end-users at the right time and right place. You need to promote your products well for maximum awareness among the end-users.
According to integrated marketing communication plan, various methods of promoting a brand are put together for maximum effectiveness and better results.
Let us understand the same with the help of an example:
Organization B deals in providing lucrative holiday packages to end-users. The first step would be to identify the target customers. It is crucial for the organizations to understand who would be the best buyers for their products and services (in this example). For honeymoon packages they need to target the newlyweds, for pilgrimage packages, it would be the senior citizens and so on. Organization B can promote its brand by simultaneously giving advertisement in the news paper (print media), promoting through social networking sites (Facebook, Twitter, Linkedin), through company’s websites, banners, hoardings, press conferences and so on.
Integrated marketing communication increases the visibility of the brand and also enables customers to remember the brand whenever they go out for shopping. The impact of integrated marketing communication plan is obviously more as end-users see the brand simultaneously at multiple places.
How to create an integrated Marketing Communication Plan
An integrated marketing communication plan needs to keep in mind the available resources and time to promote a particular product or service. Budgeting and allocating right resources for promoting products and services through integrated marketing communication plan are of utmost importance. The objective of the marketing plan needs to be clear.
The second step is to gather as much information as you can about your company, brand, features and most importantly target audience. Understand who all would be the best buyers of your products and services and what they expect of you and your organization? A marketer needs to very clear of the vision, goals and objectives of his/her organization. Know what your product is offering and how would it benefit the customers?
Plan out how you would like to proceed with the integrated marketing communication plan. Always adopt a step by step approach. Do not forget to do your homework carefully before writing an integrated marketing communication plan. Thorough research is essential.
Integrated marketing communication plan needs to include:
Integrated marketing plan needs to be reviewed periodically. Measure the results of the plan and find out how is it helping your organization promote products successfully and earn higher profits and revenues?
Your email address will not be published. Required fields are marked *