Purpose and Value of Integrated Marketing Communications W1 PDF

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MKT/Purpose and Value of Integrated Marketing Communications MKT/ October 29, 2018 Chris LewisMKT/Purpose and Value of Integrated Marketing Communications Introduction Every company and their product or service requires an effective integrated marketing communications plan in order to be successful....

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Purpose and Value of Integrated Marketing Communications MKT/498

Purpose and Value of Integrated Marketing Communications MKT/498 October 29, 2018 Chris Lewis

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Purpose and Value of Integrated Marketing Communications Introduction Every company and their product or service requires an effective integrated marketing communications plan in order to be successful. “Integrated marketing communications (IMC) is of the coordination and integration of all marketing communications tools, avenues, and sources in a company into a seamless program designed to maximize the impact on customers and other stakeholders (Clow & Baack, 2017). Companies can no longer rely on one single marketing communication tool, but rather, they must utilize and consolidate various platforms in order to be successful in today’s society. A combined marketing plan sets ordinary companies apart from exceptional companies because it allows a company to understand their consumers better which ultimately allows them to market more efficiently and successfully. An integrated marketing communications plan allows each and every department within a company to stay consistent when communicating with their consumers. Overall, creating and implementing an integrated marketing communications plan is vital to a company’s success (Clow & Baack, 2017). Purpose, Value, and Components of an IMC Plan Integrated marketing communications or IMC allows a company to coordinate and integrate all of their marketing communications tools, avenues, and sources into one seamless program that ultimately allows the company to maximize the impact they have on their consumers and stakeholders. Integrated marketing communications covers all of a company’s business-to-business, market channel, customer-focused, and internally-directed communications. IMC coordinates the components of the marketing mix so that a company can achieve harmony in the messages and promotions they provide to their customers. Combining and managing a company’s marketing tools through IMC has a positive impact on a company’s

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communication process because it allows a company to increase the effect they have on their consumers at a lower cost while also allowing a company to speak with one unmistakable voice. A successful IMC plan furthers a company’s name and brand to consumers while also assisting the company with strengthening their brand and position within a market against competitors. When creating and implementing an integrated marketing communications plan, it is vital that a company combines the elements of the marketing mix: products, prices, distribution methods, and promotions while also blending the other elements of the marketing mix into the program so that a complete IMC plan can be established and followed. Overall, an effective integrated marketing communications plan has a purpose and value for all companies (Clow & Baack, 2017). Tesla Motors Tesla is an American automotive company that is based in Palo Alto, California. Tesla specializes in the manufacturing of electric cars. Tesla, which was founded on July 1, 2003, has become one of the most popular car manufacturers in the world. Marketing Communications Tools Tesla utilizes a variety of marketing communication tools and strategies in an effort to target current and potential customers. Some of the communication tools and strategies that Tesla utilizes are social media marketing, word-of-mouth marketing, and Tesla’s own sales and service network. In regards to Tesla’s social media marketing strategy, this strategy allows Tesla to increase brand recognition while also improving brand loyalty. In addition to the social media marketing strategy Tesla uses, they also use word-of-mouth marketing which increases sales, brand recognition, and competitiveness. The great thing about the word-to-mouth marketing strategy that Tesla uses is the fact that it is an important cost-saving factor which allows Tesla to

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reinvest money in other areas of the company. Finally, Tesla utilizes its own sales network which consists of stores to market their products and brand. Tesla sells their vehicles directly to consumers which is very different than what we are used to when it comes to researching or purchasing vehicles. By doing so, Tesla is able to increase brand confidence and loyalty while also getting instant and direct feedback from potential consumers. Overall, Tesla utilizes a variety of marketing communication tools and strategies (Tansel, 2015). Meeting the Objectives of the IMC and Reaching the Targeted Market Segment The tools and strategies Tesla utilizes to meet the objectives of the IMC and reach their targeted market segment have been very successful for Tesla. To start, Tesla has been seen as a leader in their industry when it comes to social media marketing. Social media marketing has allowed Tesla to separate themselves from their competition while also gaining a number of additional interested customers. In addition to Tesla being able to meet the objectives of the IMC and reach their target market segment through social media marketing, they have also been able to do so by utilizing their own sales network. As mentioned previously, the way Tesla sells their cars to consumers is very different than what we are used to because Tesla sells their vehicles directly to consumers rather than using distributors or car dealerships. Due to this, Tesla has been able to be much more efficient in maintaining one consistent message and they have also been able to separate themselves from competitors because of the way they sell their cars. Not only have they been able to stay more consistent with how they market their products, stay more consistent with the messages they use when marketing their products, and separate themselves from their competitors, Tesla has also been able to improve brand trust and loyalty due to the ability to speak directly to their consumers and collect feedback instantly. Overall, the tools and

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strategies Tesla utilizes to meet the objectives of the IMC and reach their targeted market segment have been very successful for Tesla (Tansel, 2015). Industry Analysis Tesla Motors is a part of the automotive industry. The automotive industry is a 257billion-dollar industry that caters to the needs of our society incredibly. The automotive industry does not only involve the selling of vehicles, but it also involves the designing, manufacturing and repair of vehicles as well. Due to our societies relying on automobiles so heavily, Tesla has entered a lucrative, but competitive market. Although there is a select group of automobile manufacturers and Tesla is a rather new company compared to its competitors, Tesla Motors has been able to quickly and successfully disrupt the market and its competitors. Tesla, which always seems to be on the cutting edge of innovation and technology, has had self-driving capabilities in its vehicles for quite some time now. Self-driving vehicles are the leading and emerging trend seen in the automobile industry today and this has been the topic of discussion for the past couple of years. Not many companies have been able to master the technology, but nearly every automobile manufacturer is pouring billions of dollars into the technology so that they can be first to mass produce it. Although this is an emerging trend, Tesla has had the self-driving or auto pilot feature available in their vehicles for quite some time which shows how Tesla has been able to separate themselves from competitors. Overall, there are a lot of emerging trends in the automobile industry, but self-driving cars have been the highlight in today’s society and Tesla has been able to offer this technology in mass production vehicles already (All About the Automotive Industry, 2018). Additional Marketing Communication Tools

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Tesla utilizes nearly every marketing communication tool one can think of. With that said, there can always be changes made to these tools that allow a company to be more successful and increase opportunities that improve the overall brand management of a company. For example, Tesla’s CEO Elon Musk is constantly seen negatively on social media networks like Twitter. If Elon Musk would better utilize his position and platform to stay more consistent with Tesla’s message, than Tesla and Tesla’s brand would benefit tremendously. If Elon Musk can manage what he posts on social media networks like Twitter better and be more consistent with the message Tesla is trying to convey to their potential consumers, Tesla will be able to improve their overall brand management and be more successful as a whole. Conclusion In conclusion, every company and their product or service requires an effective integrated marketing communications or IMC plan in order to be successful. “Integrated marketing communications (IMC) is of the coordination and integration of all marketing communications tools, avenues, and sources in a company into a seamless program designed to maximize the impact on customers and other stakeholders (Clow & Baack, 2017). Companies can no longer rely on one single marketing communication tool, but rather, they must utilize and consolidate various platforms in order to be successful in today’s society. A combined marketing plan sets ordinary companies apart from exceptional companies because it allows a company to understand their consumers better which ultimately allows them to market more efficiently and successfully. An integrated marketing communications plan allows each and every department within a company to stay consistent when communicating with their consumers. Overall, creating and implementing an integrated marketing communications plan is vital to a company’s success (Clow & Baack, 2017).

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References

Clow, K. E., & Baack, D. (2017). Integrated Advertising, Promotion, and Marketing Communications (8th ed.). Retrieved from https://phoenix.vitalsource.com/#/books/9780134485027/cfi/6/2!/4@0:0. Tansel, A. K. (2015). Analysis of Tesla Motors’ Marketing Communications Strategy. Retrieved from https://www.grin.com/document/341486 All About the Automotive Industry (2018). Retrieved from https://www.worldatlas.com/articles/all-about-the-automotive-industry.html...