Integrated Marketing Communication Theory

Introduction

Marketing communication, or marcom for short, is the science of how to use marketing tools (usually commercials and advertisements) to achieve desired results from marketing activity. By blending theory and practice, marketing communication is the ideal tool to identify and target market needs, create a marketing strategy, formulate a plan of action, and finally, implement the plan. This paper seeks to discuss the primary marketing communication theory and its relevance in the modern marketing landscape.

The 4Ps Model of Marketing Communication

The 4Ps model of marketing communication was developed in the late 1950s by Neil Borden, with later advancements by Bill Rossiter. This model is based upon the product-price-promotion-place (4Ps) flow of marketing. The 4Ps model is a traditional approach to developing a marketing strategy that has stood the test of time. The model is applicable to both traditional advertising and modern digital platforms.

The product aspect of the 4Ps model focuses on targeting the right audience for the product or service. This includes identifying the target market for the product or service, researching their needs, and determining how to best meet those needs. The price aspect of the model involves setting the right prices for the product or service. Promotions look at different ways to distribute the product or service, including marketing campaigns, media channels, discounts, and other promotions. Lastly, place deals with the distribution channels necessary to ensure the product is delivered to the target audience.

Integrated Marketing Communications

Integrated marketing communications (IMC) evolved as a result of the ever-growing complexity and fragmented nature of digital communication technology. IMC is a systems-based approach to developing an effective communications plan, combining the elements of the 4Ps model in order to create a strategy that is integrated and holistic. IMC is designed to provide a consistent message across all channels and platforms, ensuring maximum reach and effectiveness.

At the heart of IMC is a centralized marketing team that is responsible for coordinating all communications initiatives, and for collecting and evaluating data to actively adjust the strategy as required to ensure maximum results. This team is tasked with the job of producing effective creative content, including videos and other media, as well as overseeing website design, ensuring consistency across all channels.

Interactive Relationship Marketing

Interactive relationship marketing (IRM) has evolved from IMC and is designed to create closer relationships between the company and its customers. IRM concentrates on developing a deeper understanding of customers by collecting and analyzing customer data, and then utilizing it to create a more personalized marketing experience. This can include personalizing email communications, website content, and digital advertising.

Conclusion

In conclusion, marketing communication theory is a powerful tool for business owners to utilize in their marketing strategies. The 4Ps model and IMC provide an efficient way to identify target audiences and develop and implement the right marketing mix, while interactive relationship marketing provides the ability to create deeper relationships with customers through personalized communications. By adopting a holistic approach to marketing communications, businesses can ensure maximum exposure and higher customer engagement.

With the rapid development of the global marketing communication, the integration of marketing and communication theory has become increasingly important. It focuses on the integration of all aspects of marketing, including planning, strategy, creativity, and media. Its purpose is to ensure that all elements of the marketing and communication process are synergistic to create the best results for businesses.

Integrated marketing and communication theory is based upon the recognition that there is no single solution for effective communication. Instead, it requires the integration of several marketing and communication methods in order to be successful.

These methods may include traditional marketing methods such as television, radio, newspaper and magazine ads as well as digital and traditional advertising, public relations and social media.

Integrated marketing and communication also entails the use of non-traditional methods such as experiential marketing, word of mouth, and niche marketing. The use of innovative techniques to both gain and retain customers is also part of the integrated process.

All elements of the integrated marketing and communication process should be organized and managed in an efficient manner. This includes goal setting, strategy planning, execution and measurement of the integrated campaigns. Each element needs to be driven by a clear business goal and must be performed to the highest standards.

In addition, the process of integrating marketing and communication also includes research and measurement. This can include surveys, analytics, focus groups, and other methods of assessing the effectiveness of the integrated marketing campaigns.

All of these elements must be incorporated in the optimization of the overall marketing process in order to ensure that businesses reap the maximum benefit from their marketing and communication efforts. By using integrated marketing and communication theory to maximize their resources, businesses can ensure that their communication efforts are strategically effective and cost-effective.