Describe The Concept Of Integrated Marketing Communication

Describe The Concept Of Integrated Marketing Communication

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American Association of Advertising Agencies defines integrated marketing communication as A concept of marketing communication planning that recognizes the added value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines for example, general advertising, direct response, sales promotion and public relations and combines these disciplines to provide clarity, consistency and maximum communications impact through the seamless integration of discrete messages.

Introduction of marketing communication is considered to be the most significant development of the 1990’s. Companies can coordinate the efforts of the marketing communication to take advantage of synergy among various communication tools, avoid duplication and develop more efficient marketing communication programme. Consumers have changed with respect to taste and preferences, lifestyle shopping patterns and media use etc.


Explain the different budgeting methods under top-down approach
Or
List out difference promotion bundling methods under top-down approach.

Budgeting methods under top down approach are:

Affordable method
Percentage of sales method
Unit of sales
Competitive parity method
Affordable method: It is also known as funds available method. The organization identifies the amount to be spent in various departments like production and operations, then from the left out funds allocate budget to advertising and promotion.


Percentage of sales: This is the most simplest and popular method of determining the promotion budget. Company decides a predetermined percentage and applies it on the value of sales achieved in the previous year.

Unit of sales: This method is simply a translation of percentage of sales into rupee spent per unit. Individual unit figure is multiplied by the forecast of the sales for the forthcoming period to identify the budget.

Competitive parity method: This method is also known as share of voice method. This method is used to achieve the share of voice parity with competitors. Under this method, a company find out the amount spent by the competitors on the promotion and allocates the amount equal to or proportional to the market share with relation to the competition.

Discuss the Factors That Affect the Promotion Mix of a Company
There are various factors that affect the decision of choosing an appropriate promotion mix. It is important to keep these factors in mind else firm may incur losses. These factors are categorized into the following groups:

1.Product Related Factors

Different products require different promotion approaches. Convenience goods can require mass marketing whereas complex goods require personal selling.

If the product is in introductory stage, promotion aims at spreading awareness whereas in the growth stage aggressive promotion is required. So, product requires different approaches at different product life cycle stage.

If the consumers are not even aware of the product, marketers must first spread awareness and make the product familiar to the consumer.

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