A Managerial Approach to Marketing

Abstract

Getting ready to launch your new product would depends on how well the product would be communicated to the respective targeted markets. By this time, there should be a strategic plan identifying the communication methods that would be best suited for the products and or services that would intrigue old customers and foster new ones. In addition, communication elevates promotion whether its word of mouth, presentations, internet, TV, Radio etc.

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Communication, Promotion, Positioning

Introduction

The only way people would know about a product or service is how well they are being communicated. There are different approaches, marketing managers just have to find the right and the best means to get their message across to the general market or targeted markets. For sure the internet has changed the way business is being conducted over the years, however, it still requires planning and precision to be successful. One way is the IMC (Integrated Marketing Communication) approach.

Communications Channels

IMC (Integrated Marketing Communication) is a process for managing customer relationship that is meant to drive brand value, primarily through communication efforts (Integrated marketing communication, 2012). That being said, it includes cross-functional processes that create and foster lucrative relationships with customers and stakeholders strategically or influencing all communications sent to these groups encouraging data-driven, purposeful dialog with them (Integrated marketing communication). The bottom line of IMC is to integrate all means of marketing communication tools, avenues and sources with a company into a seamless program that is cost effective in order to maximize the impact of end users. As a result, every avenue must be in harmony with each other. For example, one of the 4P's is promotion in the marketing mix, and that have it own mix in the communication tools (integrated marketing communication). However, in order for the 4P's to be successful they must work together to communicate a common message.

Integration affects all forms of b2b (business –to-business), marketing channel, customer focus and internally directed communication; in other words, it can be characterized as horizontal, vertical, internal, external and data integration that goes beyond the basic communication avenues strengthening each other. The integration stretches across the marketing mix and business functions such as production, finance, distribution, and communications to send a common message to consumers (Integrated marketing communication). However, Integrated marketing communication is single concept that ensures that all forms of communications and messages are carefully linked together; communicating the foundation of the industry such as corporate image and brand management, buyer behavior, and promotions opportunity analysis (Integrated marketing communication).With that said, getting the message across entails advertising, direct marketing, sales promotions, public relations and personal selling that is all components of IMC.

Pros and cons: advertising.

Advertising is single most profit making tool relevant to products and consumers. Advertising though has several components such as advertising management, advertising design, message strategies and frame works in addition to advertising media selection. Moreover, advertising also entails brand and company image (Integrated marketing communication). That being said, advertising has its pros and cons. Pros of advertising is getting the message to the targeted market segmentation by using the right form of communication. Some organizations use celebrity figures to communicate their brand image which is very lucrative business in this competitive market environment; the psychology is to have some of that fame rubbed off on their brand (Johnson, 2005). However, the con is that individual(s) can fall short of the company image that would backfire on the organization as a result costing them daily. For example, Coco-Cola have had their share of embarrassment by the negativity surrounding the Soccer giant Manchester United and the England star Wayne Rooney referring to him as a poor role model because of his behavior on the pitch (Johnson). In light of that negativity it impacted consumers buying behavior and sponsors.

There is also the control aspect; deciding when, where and how often the message is going to be communicated (Pros and cons of advertising, 2012). In other words, an organization has full control where and how the product would appear, what it would look like, what would be message be and the opportunity to aim at a particular targeted group in a timely manner (Pros and cons of advertising). In addition, advertising afford the consistency presenting the industry's image and sales message regularly to build brand trust and awareness (Pros and cons of advertising). Consistency would eventually allow customers to recognize your brand in whatever media chosen to advertise in.

The drawback however, is planning, cost and time. Advertising cost money and ads have to be run several times in order to be engraved in mind of the consumers because they do not see every one of the product ad that comes out in circulars, on TV, magazines, internet etc. However, over time it would be beneficial because now products would be more recognizable (Pros and cons of advertising).

Pros and cons: direct marketing.

The components of direct marketing are approaching potential customers with the hope that they would be interested in your product for example telemarketing where sales staff would contact potential clients by phone to pitch their product. However, that has its con because people can be very unresponsive because of the intrusion (Pros and cons of directing marketing, 2012). This type of direct marketing brought about the implementation of the "Do Not Call list" forbidding telemarketers to call anyone on that lists (Pros and cons of direct marketing). There is also the internet – online email; well that too is face with its drawback because consumers are overwhelmed with those solicitation causing email providers to develop firewalls and spam to filter some of those unwanted emails (pros and cons of directing marketing). In addition there are coupons, direct mail, catalog etc. this is because information is shared amongst vendors whenever a particular product is purchased. It is effective when consumers give their information directly however, there are many resistances when a consumer is unaware that their information has been shared (Pros and cons of direct marketing). As a result, coupons, catalogs, brochures and other forms of direct mails end up in the trash and that cost organizations millions of dollars. An advantage worth noting is that more companies are giving consumers the option to unsubscribe (Pros and cons of direct marketing).

Technology allows Wal-mart to open e-commerce websites to supplement their brick and mortar stores. The idea is to create multichannel synergy with stores acting as billboards for their brands (Avery, 2012). The drawback is not being able to feel or see the product up close and personal like you would do at a retail store.

Pros and cons: sales promotion.

Sales promotion is a short introduction to gain maximum sale in a short period of time (Kureshi & Vyas, 2004). However, the risks could be financial, social or psychological or functional. Nevertheless, sales promotion has the potential to shape new customers behavior as well as reinforcing customer loyalty; generating sales and revenues (Kureshi & Vyas). Depending on the condition of the present market like we are facing now, more organizations are conducting sales promotions in order to boost sales in this economic crisis business are facing around the world. Sales managers have to plan carefully when promoting sales because of so many organizations doing the same thing. They would want to get their message across clearly defining their product and why their product is better over the other or similar product to gain the confidence of the consumer (Kureshi & Vyas).

Pros and cons: public relations.

Public relations it is the process of maintaining a good relationship with the media, peers as well as people of interest. He or she controls how much information is being shared at any given time (Public relations, 2012). The drawback is communicating the wrong information, or not having the proper answer to questions concerning the product