Report: Integrated Marketing Communication Strategy for CBA Analysis

This report provides an in-depth analysis of the Integrated Marketing Communication (IMC) strategy employed by the Commonwealth Bank of Australia (CBA). It begins with an introduction to the concept of IMC and its importance for organizational sustainability. The report then delves into an analysis of both the internal and external environments of CBA, including brand image, promotions, and the strengths and weaknesses of the brand. A significant portion of the report is dedicated to the analysis of CBA's target market, segmenting customers based on value and outlining strategies for engagement and retention. The report details the communication strategy, including specific, measurable, attainable, relevant, and time-bound (SMART) objectives, along with creative strategies such as advertisements, referral programs, and community outreach. A budget chart is included, outlining research, communications, networking, and promotional costs. The conclusion summarizes the key findings, and recommendations are provided, such as using smart objectives, the Ad Stack model, and effective promotional activities. The report is supported by an extensive list of references, demonstrating a thorough understanding of the subject matter.

INTEGRATED MARKETING
COMMUNICATION

INTRODUCTION
• Communication is a crucial aspect that helps the sustainability of an organization
• Through effective communication an organization or business can promote its brand and increase
awareness of the products or services of the company among potential customers
• Integrated Marketing Communication is a marketing strategy that incorporates effective
communication with marketing
• In this study the IMC strategy for Commonwealth Bank Of Australia is analysed

ANALYSIS OF INTERNAL AND EXTERNAL
SITUATIONS
Internal Environment
Brand Image
Brand Promotions
Prvious promotional activities
Strengths and weaknesses of the brand

TARGET MARKET (Customer Segments And
Strategies For Engagement)
Market
Low Value Customers
Limited financial needs and income
Uses services from several bank simultaneously
Medium Value Customers
Almost all the business in one bank
Business across sevral banks
High Value Customers
Customers with large deposits or loans with the bank
Ex Customers
Closed accounts
Inactive accounts
Market
High Value Customers
Retention
Medium Value Customers
Retention
Low Value Customers
Upgradation
Retention
Ex Customers
Re engagement
Market
Low Value Customers
Limited financial needs and income
Uses services from several bank simultaneously
Medium Value Customers
Almost all the business in one bank
Business across sevral banks
High Value Customers
Customers with large deposits or loans with the bank
Ex Customers
Closed accounts
Inactive accounts

COMMUNICATION STRATEGY
• IMC Communication Objectives
• Specificity- The objectives should be specific , clear and understandable which can allow better follow-up
• Measurable- Effective systems for measuring performance is also important which can ensure quantification of progress
• Attainable- The objectives should be practical and realistic enough to be achieved or attained
• Relevant- There should be relevancy of the objectives to the challenges identified
• Time Bound- The actions should be conducted on a timely manner
• Creative Strategy:
• Advertisements
• Referral Programs
• Community reach
• Telemarketing

BUDGET
Chart Title
Research
Communications
Networking
Additional Costs
Promotion Costs
Advertising
Public Relations

BUDGET

CONCLUSION AND RECCOMENDATION
• Integrated Marketing Communication is a marketing approach that integrates effective communication
strategies with marketing strategies and helps organizations to effectively share information regarding
the products and services with the customers.
• Reccomendations
• Using smart objectives for communication strategies
• Using Ad stack model to design and implement media mix
• Using effective communication strategy mix
• Using effective promotional activities
• Using marketing strategies according to the specific customer segments

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