This assignment tasks students with critically analyzing Integrated Marketing Communications (IMC). It requires a theoretical review of IMC, focusing on identifying its key drivers and examining their impact. The analysis should delve into the practical implications of IMC and its effectiveness in achieving marketing objectives.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head:INTEGRATED MARKETING COMMUNICATIONS(IMC)1 Integrated Marketing Communication Student Name Institution Report on Integrated Marketing Communication for Altium Limited
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTEGRATED MARKETING COMMUNICATIONS(IMC)2 Executive Summary An integrated marketing communication (IMC) is marketing communication strategy that links various aspects of communication to foster product awareness. IMC plan, therefore, is marketing communication strategy that looks into various aspects of communication aiming at increasing product position in the market hence high sales (Newman & Ober, 2013). This is a marketing communication plan for Altium Limited. Altium Limited is an Australian software company that has some other branches in other countries such as United States of America, Netherlands, and Germany (Altium Pty Ltd, 2001). The company mainly deals in circuit marker software for designing a circuit board for electronic. The plan defines marketing objectives as to adventure into unreached market widening the company’s market beyond current limit. The target market is categorized into the industrial electronic market, mechatronic, communication segments and medical and the segment is local customers, regional customers, and global segment. The company positioning strategy is shrouded in the statement of being the global leader in customer-centered software (Chandra& Ulrich, 2014). The business creative idea that the plan focuses is “Follow your passion, a visual reality” while the message will be “What’s Your Passion? Try it with Altium”. This marketing plan highlights the communication strategy mix giving communication mix and media mix as the main areas of focus. Another area of the plan is a budgetary allocation that is suggested for the IMC plan. The evaluation plans are also set giving various methods that will be used to evaluate the impact and the success of the IMC plan upon implementation. To ensure high chances of success, that feedback from some stakeholders within the company are also incorporated into the plan. Finally, the plan concludes by making some recommendations to the company.
INTEGRATED MARKETING COMMUNICATIONS(IMC)3 Table of Contents Introduction.................................................................................................................................................3 Altium Limited.........................................................................................................................................3 1.Communication objectives..................................................................................................................4 2.Segment and target market.................................................................................................................4 3.The creative idea and message............................................................................................................5 4.Positioning strategy.............................................................................................................................6 5.Communication strategy mix...............................................................................................................6 5.1 Communication mix...........................................................................................................................6 Personal selling....................................................................................................................................7 Product promotion..............................................................................................................................7 Public relation......................................................................................................................................8 Direct marketing..................................................................................................................................8 Event sponsorship...............................................................................................................................8 5.2 Media mix..........................................................................................................................................9 6.Basic budget......................................................................................................................................10 7.Evaluation metrics.............................................................................................................................11 7.1 Social media feedback.....................................................................................................................11 7.2 Website statistics.............................................................................................................................11 7.3 Purchase or sales data.....................................................................................................................12 7.4 Customer rating and customer opinions.........................................................................................12 8.Feedback from owners of the Altium Limited...................................................................................12 8.1 Employee’s feedback.......................................................................................................................13 8.2Former director feedback..........................................................................................................13 8.3 Feedback from Altium Limited subsidiary........................................................................................13 8.4 Changes based on feedback............................................................................................................14
INTEGRATED MARKETING COMMUNICATIONS(IMC)4 Conclusion.................................................................................................................................................14 Recommendations.....................................................................................................................................14 Reference..................................................................................................................................................15 Introduction Integratedmarketingcommunicationreferstothemarketingcommunicationthat combines many different communication elements. This is a communication strategy that links
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
INTEGRATED MARKETING COMMUNICATIONS(IMC)5 together various marketing mix and advertisement mix. This implies that various communication methods such as promotional tools, advertisement, personal selling and other disciplines of marketingcommunication.Integratedmarketingcommunicationensuresthatmarketing campaign allows all the marketing methods work in harmony to bring high impact on the product awareness and sales.An integrated marketing communication plan, therefore, is a marketing communication strategy that outlines various communications aspects including the possible budget that is required to implement the plan (Clow& Baack, 2002). The IMC can work better when designed for the specific company. The paper seeks to develop an IMC plan for Altium Limited, an Australian software company. Altium Limited Altium Limited deals in software and is headquartered in Sydney, Australia though the company has other branches in united states of America, China, Germany, and Netherlands. The IMC plan is projecting an increase in the product awareness by more than 20%. Some of the major focuses of the IMC are communication mix, media mix citing objectives and positioning strategy for the product. Some of the products of the company include CircuitStudio, Altium Designer, Vault and TASKING among other more products from Altium (Altium Pty Ltd, 2001). The company has also acquired many other companies that mainly forms its subsidiaries such as Accolade Design Automation and Accel (Morris,2010). The company recently launches a new product, Altium Designer that is momentarily gaining market and this needs high product awareness. Therefore the company needs a good marketing communication strategy or plan to increase the awareness. The following is an integrated marketing communication plan for Altium Limited (Miller,2007).
INTEGRATED MARKETING COMMUNICATIONS(IMC)6 1.Communication objectives Altium Limited main communication objective is to adventure into unreached market widening the company’s market beyond current limit. The objective of the company is to increase the brand awareness by 20% both locally and globally. To achieve this objective the company intends to attract the attention of the market that has not been reached by the company communication within Australia and internationally. This will help the company to reach more than 20% customers globally while maintaining the already reached market segments (MMC Learning, 2015). 2.Segment and target market The market segment for the Altium Limited can be grouped into local customers, regional customers, and global segment. The market segment for the company’s software products begins with the local customers that are mainly electronic industry who design various circuits for the purpose of production. Secondly, the company also seeks to reach regional customers that dominate the South Pacific Region through our adverts and regional branches offices located in China for instance (Chandra& Ulrich, 2014). Thirdly, the communication aim to reach global customers and partners that are spread in some other location such as the United States of America and this will also be made possible through our base in San Diego, USA. The segment for the Altium Limited is a mainly industrial electronic market, medical, mechatronicandcommunicationsegments.Theorganizationtargetsbasicallysmallscale business in Australia, international branches and globally. Firstly, the company targets local electronic engineers who design electronics circuit. Through this initiative, the company mainly target institutions of learning that make and design electronic either for learning or through business.Thiswillensurethattheproductsaresoldtotheseuniversitiesarepartof
INTEGRATED MARKETING COMMUNICATIONS(IMC)7 communication aim (Venter,Wright& Dibb, 2015). Secondly, local electronic industries are also our main target market that the communication needs to reach with the expectation of good feedback. Medical electronic and equipment industries are other growing market that has also attracted our attention and the adverts will aim to reach this market with the best way possible. Communication segment is another good market that the company target as the industry is a larger consumer of software especially the company’s smart studios software (Nagra et al, 2012). 3.The creative idea and message The creative idea for the communication will be “Follow your passion, a visual reality”. The company normally has core value statement that is engraved within the statement, Design with Purpose, create with passion. The main aim of the ideas is to continue the value of passion for designers. Therefore, the communication aims to fan the flame of passion as opposed to the carrier among your designers (Moe,2013). In addition, this idea is meant to encourage customers to follow their passion until it becomes a reality that can be seen. One of the products that will form the example of a product is Altium Designers that was recently released by the company. The message will be “What’s Your Passion? Try it with Altium”. This message is most likely to encourage customers to try our product while following their passion (Luxton, Reid & Mavondo, 2015). To ensure that the message sinks deeper into the market, the visual element for the message will have the trial version of the product especially Altium Designer attached to it. 4.Positioning strategy The positioning strategy of the Altium Limited is based on the statement “Customer’s centric software development”. Customer-centric software development position will make the company becomes leading developer of customer oriented software. The company intends to become a global leader in the software development and this will be facilitated by the customer-
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTEGRATED MARKETING COMMUNICATIONS(IMC)8 centered software development. To put this forward the marketing communication is based on customer-oriented development. The integrated marketing communication plan is meant to assure customers that the products developed by the company are different from other software for other company since they factor in customers need more than own need. The market targeted to place the company in this posting are developers that have minimal development experience hence assuring that customer that product is based on their needs (Moutinho, 2000). 5.Communication strategy mix The Altium Limited intends to launch a communication that basically consists of communication channels and media channels. Some of the major aspects of the communication mix and media mix. Communication mix elements are advertisements, personal selling, product promotion,publicrelation,directmarketingandeventsponsorship.Mediamixincludes newspapers, social media, television, billboard, and emails (Arens& Michael, 2012). 5.1 Communication mix Advertisement Thecommunicationmixreferscombinationofvariousproductmarketing communications elements. Firstly, the advertisement will carry the main message as it touches nearly all other aspects of the communication mix. Company’s communication team will launch various adverts both locally and internationally with the aim of reaching nearly all the areas that the company has not previously reached. The advertisement will be both audio and visual. For instance, in the social; media the company will display advert that has website link attached to it. This is meant to allow conversion of both advert views and the real customers or those will to try our product (Belch,2014).
INTEGRATED MARKETING COMMUNICATIONS(IMC)9 Personal selling Personal selling will mainly focus on the distribution, retails and sales force to ensure they promote the product. Customers who order the products will have the software distributed through the distribution channel and this also gives the salespersons chance to promote the product and much more from Altium Limited. Secondly, the company’s customer care or retailers that are based on the various outlets both locally and internationally will market the product to customers and viewer who visit the website (Bhatia,2000). Product promotion Product promotion is another element of communication mix that will use the already trial version of software as the promotion to customers. Through the message “What’s Your Passion? Try it with Altium” the team will allow customers to try the software for a specific period of time after which the customer will purchase the full version of the product (Clow& Baack, 2002). The objective of the product promotion is to reach as many new customers as possible. This initiative will ensure that the main target of 20% awareness is reached within the shortesttimepossible.Thepromotionalsotargetstoretainexistingcustomersthrough introducing to the new product that was just released in the year 2017 (Dahl,Low& Eagle, 2015). Public relation The public relations department is also integrated within the communication mix and this is to ensure that the company profile reaches the public. To boost the public relation the company will use press release and media coverage. The company will frequently invite the media for coverage in various offices that are not only in Australia but also in places such as a united state where the company also has a good base. A press release will also be made
INTEGRATED MARKETING COMMUNICATIONS(IMC)10 periodically to influence the general public about the product and services available. The overall aim of the public relations is to take the company abet higher in the public face (Moriarty & Nancy, 2014). Direct marketing The direct marketing communication mix will also form part of the integrated marketing communication plan. Under this initiative, the company will use emails and direct mails to customers inviting them to try company’s products. Direct marketing will be tied to the company’s website and social media pages where viewers are invited to subscribe to new letters or mail (Habibi et al, 2016). For every user that writes their email address, these customers will be prompted with product message that appeals to them to try some of the products. Direct mails and emails are generated with the link that is tied to the website where products are located (Goldfarb& Tucker, 2010). Event sponsorship Though the company has not been participating in various events, the marketing team will ensure that the team book space in many events on the local platform and internationally. This will ensure that the products are also marketed to events visitors and awareness is boosted. For instance, various sports events and trade fairs will be part of the marketing team destinations. This is meant to boost the company’s awareness through handing promotional products and printed media to event visitor (Saunders, 2014). 5.2 Media mix Media mix refers to the combination of various communication channels that will be used to relay the marketing message to customers. Firstly, the marketing team will launch television adverts that expected to run not only within Australia but also other major television with global
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
INTEGRATED MARKETING COMMUNICATIONS(IMC)11 reach. The audio part of the advert will be designed to meet the listeners of the radio with the message retained. This will ensure that the message remains the same to foster impact on the many radio listeners. Secondly, the message “Follow your passion, a visual reality” is expected to rock the internet with the encouraging message of “What’s Your Passion? Try it with Altium”. Another is that the message will dominate is the internet where the company target to reach more than 15 million users on Facebook alone. There are many online users that open market for the company’s products. Social media alone has more users than any other platforms in Australia and globally. The main aim of the media mix is to reach as many potential customers as possible giving them chance to try products. The primary target is Facebook and Twitter which has the highest users globally than any other media (Chaffey,2006). By this, the company will ensure it reaches more users than any other communication channels. Finally, the message also targets newspapers in the print media initiative. In addition to the company’s printed papers that will be released monthly, other public newspapers will also have the message for the product (Kitchen& Burgmann, 2015). 6.Basic budget The budget concept considers various elements of marketing communication that include communication mix, media mix, and other communication elements. This budget can calculate depending on the period of time. Communication mix has several media that will cost. For instance, the budget can be for two months expense or quarterly. CategoriesExpense AdvertisementsNational$ 2000 Internationally$ 500
INTEGRATED MARKETING COMMUNICATIONS(IMC)12 Personalsellingandsales promotion Personal selling$ 1700 Media mix$ 1200 Public relations$ 1800 Social media$ 600 Online$ 800 Total$8600 7.Evaluation metrics The performance evaluation is another important aspect of the integrated marketing communication.Variousbusinessmetricsarespecifictothemediaandchannelfor communication will be applied to measure the success of the awareness strategy. 7.1 Social media feedback One way to determine the success of the awareness campaigns will be on the social media feedbacks. Most of the social media allow users to comment or ‘like’ the message after view. This is one area that the team will use to determine the number of viewers or users reached by the message. Though this may not be effective in determining users reached the target will also utilize the new technology used by social media sites that state the profile views. Followers
INTEGRATED MARKETING COMMUNICATIONS(IMC)13 of the social media pages or subscribers will also be used to evaluate the number of people that are reached by the message (Koc,2002). 7.2 Website statistics The website has the subscription options that allow users or viewers to subscribe to mailing or new alert and this also automatically sent mails to clients who write their email address on the subscription popup page. The higher the number of mails sent to the client, show the number of people already reached in the initiative. The number of direct mails also indicates the number of customers reached through direct mail campaign. This will help evaluate the far the awareness campaign has the reach and its success. The website also has chat platform that is also incorporated that allow live chat with customer care personnel and this will allow viewers to ask any questions or assistance from the customer care (Pieters,2008). 7.3 Purchase or sales data The number of sales or purchases during the campaign period is also very important for evaluating the communication success. Personal selling often sells products directly to customers and the number of customers that buy a product through the company's outlets based in Australia and another country will be used for evaluation. At the evaluation stage of the campaign, all the offices and agents will submit data to the project team for evaluation. Moreover, the number of events sponsored and media coverage will also be used to evaluate the initiative (Verhoef, Kannan & Inman, 2015). 7.4 Customer rating and customer opinions Through the company’s outlets, customers and subscribers will be allowed to express their level of satisfaction. Customer rating will also be used to determine the number of customers using the product and the number of potential customers reached during the period.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTEGRATED MARKETING COMMUNICATIONS(IMC)14 This is also used to determine the taste or preferences of customers who are ready to use our products (Laird, 2001). At the personal selling level, the sales force are supposed to interview customers on their opinion about the product and this is meant to ensure that customers that give their opinion are reached by an awareness campaign. The moving target also events where the numbers of customers that give their opinion are a direct number of people reached by the campaigns. 8.Feedback from owners of the Altium Limited This plan also includes the feedback from a former director, employees and one current director of the company who also gave a view of the marketing plan. The Altium Limited through a number of its employees was assessed on their opinion on the integrated marketing communication.Thesefeedbackswerecollectedfromvariousstakeholderswithinthe organization and assist in evaluating the integrated marketing communication plan. 8.1 Employee’s feedback The plan sorts view from the employees currently working at the Altium Limited their opinion on the implementation of the plan. The EMEA Channel Manager indicated that the plan has a high potential of increasing their product awareness especially outside Australia where the company currently working to gain more momentum. Moreover, based on its areas of coverage the campaign will reach a larger market segment as compared to other previous communication strategies. 8.2Former director feedback An interview with former director also cites the success potential of the strategy keeping in mind the many areas that the campaign is most likely to venture into during the campaign. The director cites some initiatives that have been implemented in the company though some of them
INTEGRATED MARKETING COMMUNICATIONS(IMC)15 show average success and therefore the plan needs to focus on success capability to avoid any wastage of funds invested in the implementation (Sheehan, 2013). 8.3 Feedback from Altium Limited subsidiary Morfik is a subsidiary of the Altium Limited, one employee from this organization also gave feedback. Upon accessing the marketing plan the staff indicated that model product that will be used during the campaigns should also include products from subsidiaries as this will ensure that the product portfolio of the company expanded and reach a number of customers. The plan should consider marketing range of products during the marketing campaigns (Yousofi, 2010). 8.4 Changes based on feedback From the feedback, it is evident that the marketing plan has high potential in terms of the awareness campaign. The evaluation aspect of the plan needs some reconsideration as it focuses mainly on the broader metrics without considering the conversion of people reached to those people to a number of funds invested in the project. The former director indicated that there is a number of a campaign that has been used though not all lead to increasing profit to the business and this need to be considered when implementing. This leaves no doubt but to ensure that the campaign return can match the funds that were used in its implementation (Nagra et al, 2012). Conclusion In conclusion, the integrated marketing communication (IMC) is currently an important product marketing strategy that links together many marketing strategies in harmony ensuring good marketing campaign. An IMC plan, therefore, summarizes all the elements of IMC strategy that include budgetary allocation that can be used upon implementation of the plan. The plan also factors in the core idea that carries message also about the product. To ensure that the plan is
INTEGRATED MARKETING COMMUNICATIONS(IMC)16 workable some stakeholders within the company are also allowed to gives their feedback about the plan citing any possible changes to the plan. The IMC plan focuses on improving the customer product awareness by 20%. This is also expected to lead to increasing in sales of both the model product on campaigns and many other products within the company’s portfolio. Recommendations The integrated marketing communication strategy reveals the possibility of increasing the product awareness by more than 20%. Therefore, the Altium Limited needs to implement the IMC since the strategy has the potential of reaching both new and old customers within Australia and globally. To do this the company can apply communication mix spiced by media mix. The company can adopt the suggested evaluation metrics combined with other feedback mechanisms based on online platforms that the company uses an evaluation strategy for the plan. The company needs to focus on advertisement as the major aspect of IMC and also has wider coverage as compared to other elements of the marketing strategy. Finally, the creative idea of “Follow your passion, a visual reality” and the message of “What’s Your Passion?, Try it with Altium” is promising if implemented.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
INTEGRATED MARKETING COMMUNICATIONS(IMC)17 Reference Arens,W.&Michael,W.(2012).ContemporaryAdvertising:AnIntegratedMarketing Communications Altium Pty Ltd (2001).Altium Annual report 2001 (PDF),Altium. Retrieved 2012-02-14. Belch, G.E., (2014).Advertising: An integrated marketing communication perspective. McGraw Hill. p 31. Bhatia,(2000).AdvertisinginRuralIndia:Language,MarketingCommunication,and Consumerism, 62+68 Chandra, A. & Ulrich K. (2014). Targeted advertising in magazine markets and the advent of the internet.Management Science60.7 pp: 1829–1843. Chaffey,D.(2006),Internetmarketingstrategy,implementation,andpractice.Harlow: Financial Times Prentice Hall. p.50. Clow,K.E.&Baack,D.E.(2002).IntegratedAdvertising,Promotion,andMarketing Communications.Prentice Hall. p.108. Dahl, S., Low, D., & Eagle, L. (2015). Integrating marketing communications and social marketing: Together for a common good?Journal of Social Marketing, 5(3), 226-240.
INTEGRATED MARKETING COMMUNICATIONS(IMC)18 Goldfarb, A & Tucker, C. (2010).Advertising Bans and the Substitutability of Online and Offline Advertising.SSRN. Habibi, F. H., et al, (2016). Exploring the integration of social media within integrated marketing communication frameworks: Perspectives of services marketers.Journal of Marketing Practice, 34 (1), 19-40 Kitchen, P., & Burgmann, I. (2015). Integrated marketing communications: Making it work at a strategic level.Journal of Business Strategy,36: 34–39. Koc, E. (2002). Impact of gender in marketing communications: the role of cognitive and affective cues.Journal of Marketing Communications,8(4): 257. Laird, P. W. (2001).Advertising progress: American business and the rise of consumer marketing(Johns Hopkins University Press,.) Luxton, S., Reid, M., & Mavondo, F. (2015). Integrated marketing communication capability and brand performance: IMC capability and performance.Journal of Advertising, 44,37- 46. Lucia, P., Barrio-Garcia, S., & Kitchen, P. J. (2012). How Integrated Marketing Communications works? A theoretical review and analysis of its main drivers and effects.Journal of Marketing Communications, 25(1), 313-348. Miller, N. (2007).Altium's altitude attitude:SydneyMorning Herald. Retrieved on 2009-03-04. MMC Learning (2015), Marketing Knowledge Centre: Integrated Marketing Communication. Accessible at:http://multimediamarketing.com/mkc/marketingcommunications/
INTEGRATED MARKETING COMMUNICATIONS(IMC)19 Moe, W. W. (2013).Chapter 9: Targeting Display Advertising. Advanced Database Marketing: Innovative Methodologies & Applications for Managing Customer Relationships (PDF). Gower Publishing, London Moriarty, S. & Nancy, M. (2014).Advertising & IMC: Principles and Practice(10th ed.) Morris, K. (2010). Head in the Clouds. Altium Leads Another Design Tool Revolution. Electronic Engineering Journal. Retrieved 2011-03-31. Moutinho, L. (2000).Segmentation, Targeting, Positioning and Strategic Marketing,Chapter 5 in Strategic Management in Tourism, Moutinho, L. (ed), CAB International, pp. 121–166 Nagra, G. K., et al, (2012). Impact of Integrated Marketing Communication on different customer segments, effects on consumer decision making process.International Journal of Applied Services Marketing Perspectives, 1(1), 56-61. Newman, A. & Ober, S. (2013).Business Communication: In Person, In Print, Online. 8th ed. Mason: South-Western, 18. Print. Pieters, R. (2008). A Review of Eye-Tracking Research in Marketing.Review of Marketing Research,4: 123–147. Saunders, T. J. (2014). Selling under the Swastika: Advertising and Commercial Culture in Nazi Germany.German History: ghu058. Sheehan, K.B. (2013),Controversies in contemporary advertising(Sage Publications,) Venter, P.; Wright, A. & Dibb, S. (2015). Performing market segmentation: a performative perspective.Journal of Marketing Management,31(1-2): 62–83.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.