Integrated Marketing Communication for Commonwealth Bank

Integrated Marketing Communication 1 | P a g e
Integrated Marketing Communication

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Executive Summary
This report will focus over the integrated marketing communication program in order to attain
Commonwealth Bank’s goals and objectives. Primary objective of an integrated marketing
communication program is to develop a proper way through which information from
organization its domestic and global clients could easily be float. With the effect of globalisation
in the business market, functionalities of both local and multinational corporations have been
changed in various manners. Initially, organizations were used to promote their products and
services through traditional mediums of marketing but with the introduction of technology,
promotional campaigns have more shifted towards contemporary mediums of advertisement
which mainly includes digital media mix. Commonwealth Bank renders numerous banking and
financial services and it is one of the largest banking institutions in the local as well as in the
global market. With regards to this, organization has set up certain goals and objectives with the
aim of acquiring peak position in the global banking industry along with enhancing its market
value. In relation to this, this report will include an effective IMC plan which will be the
integration of all necessary mediums through which organizational goals and objectives would
be attained.

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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Communication Strategy Mix..........................................................................................................4
Advertising...................................................................................................................................4
Personal Selling............................................................................................................................5
Sales Promotion...........................................................................................................................5
Public relations.............................................................................................................................5
Direct marketing..........................................................................................................................5
Event sponsorship........................................................................................................................5
Media Mix.......................................................................................................................................6
Non-traditional mediums.............................................................................................................6
Social media.............................................................................................................................6
Email marketing.......................................................................................................................6
Website promotion...................................................................................................................6
Traditional mediums....................................................................................................................7
Television and radio.................................................................................................................7
Newspaper, magazine, pamphlets, etc......................................................................................7
Bill boards................................................................................................................................7
Implementation of creative approaches...........................................................................................8
Budget and Evaluation metrics........................................................................................................9
Recommendations and Conclusion................................................................................................10
References......................................................................................................................................11

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Introduction
Integrated marketing communication plan is an effective tool used by the multinational as well
domestic companies for transferring information from company to its stakeholders. In addition to
this, this plan will include communication strategy mix, media mix and the approaches for
implementing these mediums. Objective of this IMC plan will be attaining goals set up by the
management of Commonwealth Bank. The idea or the rationale here is to create the right impact
with the targeted content/messages onto the target audience, resulting in a scenario of “hitting the
bull’s eye”. Commonwealth Bank is a multinational Australian bank with its operations in New
Zealand, Asia, and United Kingdom and in the United States. With numerous financial and
banking services, organization has been able to acquire the position of being the largest
Australian bank with more than 1100 branches across the globe. In relation with enhancing
organizational performance along with gaining competitive edge over other banking and
international organizations, appropriate and effective marketing and promotional strategies will
be implemented in this IMC plan. IMC plan will help the organization gain its desired goals
along with making positive relations with its target audience. The role of IMC plan is to attract
its local and international clients with regards to the attainment of competitive advantage along
with enhancing its goodwill and the market values (Commonwealth Bank, 2018) (a).
Communication Strategy Mix
The rationale of communication strategy mix is to promote or spread awareness amongst the
target audience with regards to the organizational goals and objectives. Communication mix
refers to the integration of certain methods which are used for the objective of promoting
organizational products and services along with some creative and attractive content/message for
the objective of enhancing brand awareness (Commonwealth Bank, 2018) (b). Communication
strategy mix includes several components which are as follows:
Advertising
It is one of the most prominent tools of communication mix and it is used for the objective of
enhancing brand awareness and for spreading awareness amongst the target audience so that