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Advertising has much strength like reaching mass audiences, creating awareness, building preference, etc, but it also has major weaknesses like targeting individual consumers, making them believe a message and pushing them to action. Thus, it has to be combined with that of other communication elements such as direct marketing, sales promotions, and public relation. The various promotional tools involved in product promotion comprise the promotional mix of an organization. They include advertising, personal selling, sales promotion, public relations, and direct marketing.
One of the major reasons for the growing importance of the IMC over the past decade is that it plays a major role in the process of developing and sustaining brand identity and equity.
Building and properly managing brand equity has become a priority for companies of all the sizes, in all types of industries, and in all types of markets.
With more and more products and services competing for consideration by customers who have less and less time to make choices, well-known brands have a major competitive advantage in todays market place. Building and maintaining brand identity and and equity requires the creation of well known brands that have favourable, strong and unique association in the minds of the consumer.
Impersonal, oneway mass communication about a product or organization that is paid for by a marketer.
Television Radio Newspapers Magazines Books Direct mail Billboards Transit cards
Advantages Ability to reach large Number of people Cost per contact is low
Disadvantages
Total cost is high
Can be micro-targeted
Marketing activities-other than personal selling, advertising, and public relations-that stimulate consumer buying and dealer effectiveness.
Trade shows
Vacation giveaways
coupons
The marketing function that evaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance
Functions:
Evaluates public attitude Identifies public areas of interest Executes programs to Win public
This tool is utilized to email, mail, catalogs, encourage direct responses to radio and TV, in order to reach targeted audiences to increase sales and test new products and alternate marketing tactics.
Setting sales appointments and meetings, home parties, making presentations and any type of one-to-one communication, to reach your customers and strengthen your relationship with your clients, initiate this IMC tool.
Although Integrated Marketing Communications requires a lot of effort it delivers many benefits. 1. It can create competitive advantage, boost sales and profits, while saving money, time and stress. 2. IMC wraps communications around customers and helps them move through the various stages of the buying process. This Relationship Marketing cements a bond of loyalty with customers. The ability to keep a customer for life is a powerful competitive advantage. 3. IMC also increases profits through increased effectiveness. 4. Carefully linked messages also help buyers by giving timely reminders, updated information and special offers which, when presented in a planned sequence, help them move comfortably through the stages of their buying process 5. IMC also makes messages more consistent and therefore more credible.. 6. Finally, IMC saves money as it eliminates duplication in areas such as graphics and photography since they can be shared and used in say, advertising, exhibitions and sales literature.
Nokia Airtel
Vodafone
Loreal
Nakshatra :
Lays TataSky
Top Management Support (lack of). Accurate Metrics (lack of). Manpower (lack of). Theoretical and practical foundations (lack of). Changes needed in the organization
1) 2)
Get Senior Management Support for the initiative by ensuring they understand the benefits of IMC. Integrate at Different Levels of management. Horizontally ensure that all managers, not just marketing managers understand the importance of a consistent message whether on delivery trucks or product quality.
3) Ensure the Design Manual or even a Brand Book is used to maintain common visual standards for the use of logos, type faces, colours and so on. 4) 5) 6) 7) 8) Focus on a clear marketing communications strategy. Start with a Zero Budget. Start from scratch. Build a new communications plan. Think Customers First. Wrap communications around the customers buying process. Identify the stages they go through before, during and after a purchase Build Relationships and Brand Values. All communications should help to develop stronger and stronger relationships with customers. Develop a Good Marketing Information System which defines who needs what information when.
9). Share Artwork and Other Media. Consider how, say, advertising imagery can be used in mail shots, exhibition stands, Christmas cards, news releases and web sites. 10). Be prepared to change it all. Learn from experience. Constantly search for the optimum communications mix.
Importance of Objectives
Advertising and promotional objectives are needed for several reasons, including the functions they serve in communication, planning and decision-making and measurement and evaluation.
Communication : The advertising and promotional programme must be cocoordinated within the company, inside the ad agency . Any other parties involved in the promotional campaign must also know what company hopes to accomplish through its marketing communication programme.
Planning and Decision Making : All the phases of the firms promotional
strategy should be based on the established objectives, including budgeting, creative and media decisions as well supported programmes such as direct marketing, public relations, sales promotion or reseller support. Decision making becomes easier if the objects are meaningful.
PROMOTIONAL OBJECTIVES
SALES OBJECTIVES
COMMUNICATIONS OBJECTIVES
Advertising Strategies
Information, Dissemination/Persuasion: comparative ads attempt to
is especially the case when the objective is to communicate specific information to the customer.
Celebrity Endorsements: celebrities are likely to increase the amount of
DAGMAR
It means Defining Advertising Goals for Measuring Advertising Effectiveness. It was put forward by Russell H.Colley.Dagmar tells that advertising has to perform a particular communication task and the task has to be accomplished among a well defined audience within a specified period of time. Following are the steps,
Concept of DAGMAR
A Communication Task : An advertising goal is a specific communication task, to be accomplished among a definite audience, in a given period of time.
A specific Task: The second importance concept of DAGMAR approach is that the advertising goal should be specific.
Measurable Task Benchmark Target Audience Time Period Written Goals
Limitations of DAGMAR
Sales Oriented Performance : DAGMAR approach is considered to be successful if the sales increase and it is considered as a failure if increase in sales is not achieved.
Partial Assessment : the DAGMAR approach assesses the impact of ad campaign in a quantitative term, it does not explain how to improve qualitative representation. Unsuitable to Small Advertising: only large advertisers with financial stability can allocate funds to collect the information. Small firms cannot afford to do it. Non-Comprehensive Study : it is not necessary that a consumer will go through the pre-defined steps in the response hierarchy model before deciding to buy, he may have impulsive purchaser.DAGMAR does not explain impulsive purchaser.
Practical Analysis
On........
The two wheeler was developed by the product engineering division of Bajaj Auto in association with motorcycle designer Glynn Kerr Tokyo.
Currently there are four variants available -with engine capacities of 135 cc, 150 cc, 180 cc and 220 cc.
previously it was also offered with 200 cc DTS-i oil cooled engine, which now has been discontinued.
Pulsar is the leader in the 150 cc segment in India with a market share of 43%. Before the introduction of the Pulsar, the Indian motorcycle market trend was towards fuel efficient, small capacity motorcycles (that formed the 80-125 cc class). Bigger motorcycles with higher capacity virtually did not exist (except for Enfield Bullet)
In past ten years pulsar has grown tremendously from spoke rings to alloy wheels.From kick starter to self electric starter
From carburettor to fuel injection according to the demand of market and customer
The upgraded version of pulsar to 250 300 and 350 cc to be launched in collaboration with European bike company KTM
Bajaj is already exporting pulsar to Middle East Asia, Sri Lanka Nepal and with collaborative name of Kawasaki it distributes in Thailand and Malaysia
PRODUCTS
Marketing Strategies
Personal Selling: Personal selling is main source of marketing in showrooms by the employees. Advertisements: Bajaj advertise on television media and press media regularly and is known for its advertisement in the industry. Press Release: Press release is regular about pulsar as and when any new news or new launch in pulsar variants occurs. Main Focus : Bajaj has its main focus on its R&D Department because of which every now and than the product gets better with quality.
Bajaj has proper R&D department because of which a brand like pulsar which is 10 years old is still strong competitor in market for other bikes
Competitors :Pulsar is known as its own competitor because it has bike from low 135 cc to high 220 cc engines so customer has wide choice to suit his/her requirement. Pulsar is the best known Brand and Quality Product in the Automobile Industry when it comes to Bikes.
Bajaj is Indias largest automobile manufacturer. They firmly believe in providing the customer VALUE FOR MONEY,FOR YEARS through there products & services. Quality, safety & service has been given as much considerations as productivity, cost & delivery