Integrated Marketing Communications and Promotional Mix
Integrated Marketing Communications (IMC)
- IMC is a theory emphasizing that the promotional mix should not be viewed in isolation.
- Promotional activities like advertising and sales promotions are not mutually exclusive.
- The goal is to optimize the product promotion based on the company's position and product life cycle.
Advertising
- Involves a cost per thousand views, which is a metric for ad pricing.
- Marketing and finance departments often have different perspectives on advertising.
- Audience selection is important; specific audiences require different media types.
- Maximizing the use of all functions is essential to optimize the money spent on promotion.
Practical Example: Toothbrush Producer
- How to attract customers to your toothbrush over competitors like AquaFresh.
- Some brands, like Louis Vuitton and Lamborghini, do targeted promotions despite their established status.
Price Sensitivity
- Price-sensitive buyers may be attracted to promotions like "two-in-one" specials.
Public Relations
- Public relations activities promote the brand without direct company involvement.
Example: Johnny Walker
- Replaced the iconic man on the bottle with a woman.
- Created 250,000 bottles.
- Launched the initiative as part of a women empowerment campaign.
- The campaign was successful, with all bottles selling quickly and receiving positive feedback.