Group 23 – Chetan and Ravi
So I am wondering that I may need to stop research right now or else I will get addicted to Integrated Marketing Communications (IMCs).
What exactly is IMC?
Before defining IMC, let’s take a step back and think about the breakdown of these three words.
Integrated – Combine (one thing) with another so that they become a whole
Marketing – The management process responsible for identifying, anticipating and satisfying customer requirements profitability
Communications – The imparting or exchanging of information or news
Now we will define what IMC as below:
“IMC is a process though which companies accelerate returns by aligning communications objectives with corporate goals.” (Schultz, 1993)
In broader sense, IMC is an approach to achieve the objectives of a marketing campaign through a well-coordinated use of different promotional methods that are intended to reinforce each other.
It is common observation that, people are no longer attached to one media and as their habits changing, they go for different media to know information.
In USA, between 2001 and 2006, consumers dramatically shifted their media habits as illustrated in the chart below.
So, companies have to be very smart in advertising their product so that it reaches all people.
Social media marketing is one powerful strategy that has been employed regularly by lot of organizations. Research shows that over 80% of internet users spend the majority of their time on social media sites, such as Facebook, Twitter, Instagram and Google Plus.
Many benefits to social media are that you are able to target your key demographics very effectively and everything is traceable.
We will give examples of two organizations that are successful with their marketing strategy. The two examples we like to discuss are Red Bull and PepsiCo.
Red Bull came into existence in 1987. It has lot of fans mainly adults and is market favorite now. Its initial strategy to reach people was word-of-mouth. It has spread like fire to many countries. As the brand value started to increase, it started to face stiff competition from Coca cola, Pepsi, and Hansen. Then Red Bull added new and effective marketing strategy, coming up with a slogan “Red Bull Gives you wings” targeting young males and females and athletes. It is discusses everywhere on networking sites. Now it is available in more than 167 countries Giving Wings.
The TV commercials of Red Bull always had sense of humor to interest the consumers.
What’s inside Red Bull Energy Drinks?
Red Bull always supported charity – WINGS FOR LIFE WORLD RUN
With the 1st Wings for Life World Run a global movement to support Wings for Life and help make Spinal Cord Injury curable was started. It is the only global Sports competition that happens at exactly the same time, on all continents. In 2014 it took place in 34 locations within 32 countries. In the only race where the finish line catches you, runners around the globe compete against each other at exactly the same time, the last one caught by the Catcher Car being the global winner – and everyone running for those who can’t. 100 % of all entry fees and income go to the Wings for Life Spinal Cord Research Foundation.
Red Bull just doesn’t depend on one marketing strategy but it integrates all the available strategies to run successfully in spite of stiff competition.
PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company and Frito-Lay, Inc. Mergers, acquisitions and partnerships are the key areas of business for PepsiCo to survive the competition from its rivals.
PepsiCo has altered its marketing strategy recently to attain competitive advantage and sustain for a longer period in the market. For this it is increasing its TV ads by 30% in a year. It is also devising new advertising campaign.
E-commerce is shaping up to be the next great revolution in the food and beverage industry and to boost this Walmart’s mobile chief just joined PepsiCo to lead its new e-commerce push.
To conclude, the concept of IMC is divine. The firms that are benefitting people should use this.
Please advise whether IMC should be part of Red Bull and PepsiCo?
Should we encourage adults to go after Red Bull?
Comments are appreciated!!
References
Schultz, D & Schultz, H 1993, IMC, the Next Generation Five Steps for Delivering Value and Measuring Returns Using Marketing Communication, The McGraw-Hill companies, Unites States
Red Bull 2015, retrieved 19 September 2015, < http://www.redbull.com/>
Banjo, S 2015, Walmart’s mobile chief just joined PepsiCo to lead its new e-commerce push, Quartz, retrieved 19 September 2015, <http://qz.com/503382/walmarts-mobile-chief-just-joined-pepsico-to-lead-its-new-e-commerce-push/>
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