Integrated Media Communication (IMC) Techniques - PDF
Added on 2020-10-22
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IMC PLAN for Commonwealthbank Australia
EXECUTIVE SUMMARYPlanning for promoting the business operations as well as increasing the sales with respect toattaining the adequate gains and revenue benefits which will eb helpful in uplifting theoperational tasks and management of various activities. In the present report. There will beanalysis based on various process of Integrated Media Communication (IMC) techniques. Itwill articulate about appropriate evaluation of theoretical concepts which are underlyingthrough integrated marketing communication. This bank had claimed stripped of more than$100 million remuneration through its employees in past two financial years by respondingto specific year with scandals. The outcome of executive pay has given direct impact onAustrac settlement and findings related to Australian Prudential Regulation Authority's reportof prudential inquiry in CBA. The commonwealth bank of Australia will provide strategicfocus on commercial and retail banking business. In the present scenario they are veryimportant for global and domestic economy. The employees must be involved with theirstrong values for providing excellent customer service, better results from its customers andprovides good contribution to its society.
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1SITUATIONAL ANALYSIS..........................................................................................................1TARGET MARKET........................................................................................................................2COMMUNICATION OBJECTIVES..............................................................................................3CREATIVE STRATEGY................................................................................................................5COMMUNICATION STRATEGY MIX........................................................................................5MEDIA MIX....................................................................................................................................6BASIC BUDGET CONCEPTS.......................................................................................................6EVALUATION METRICS.............................................................................................................8CONCLUSION..............................................................................................................................10RECOMMENDATIONS...............................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONIMC plan refers to appropriate coordination and integration about communicationchannel for delivering consistent and clear message related to organization, product and services.The present report will critically discuss about function of marketing communication in contextof overall business and marketing strategy. It will articulate about appropriate evaluation oftheoretical concepts which are underlying through integrated marketing communication. Thisreport will be examining different elements of contemporary mix of communication. In the sameseries, it will evaluate marketing communication for different organization range and representon present organizational marketing with application of communication tool. This report will beapplying theoretical framework for integrating components of marketing with Common wealthBank of Australia to particular organization communication to develop this IMC plan.SITUATIONAL ANALYSISThe Commonwealth bank of Australia's reputation is battering after year along withvarious series of scandals and faced departure of its various executives along with chiefexecutive. Over this year, its ranking of leadership has been hampered as Lan Narev (Chiefexecutive), Annabel Spring (Wealth boss) and Kelly Bayer Rosmarin (institutional banking boss)has departed bank with battling scandals such as accusations and failed for enforcing anti moneylaundering rules. In the similar aspect, bank bill swap rates were also manipulated.This bank had claimed stripped of more than $100 million remuneration through itsemployees in past two financial years by responding to specific year with scandals. The outcomeof executive pay has given direct impact on Austrac settlement and findings related to AustralianPrudential Regulation Authority's report of prudential inquiry in CBA. The chief executive hadlost huge payments of incentives in consequence of fiasco. Technically his remuneration wasnegative as his forfeited incentives for financial year 2018 which was exceeded the $2.9 millionsalary and recipient of termination payment as well as per disclosures of executives statutoryannual report. In this context, the real damage was of potential value $13.9 million forfeitedthrough Narev as long term incentives. The chief financial officer was appointed through himhas forfeited worth $7 million as long term incentive with May resignation. In the similar aspect,two former CBA, ex CFO David Craig along with Chief risk officer Alden Toeves had presenceof $10.7 million of long term performance right with outcome of forfeited of inquiry throughAPRA.1
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