Integrated Marketing and Communication Term Paper

Integrated Marketing and Communication - Term Paper Example However, depending on the context and environment in which the business is operating, different interpretations of IMC have evolved. IMC has gained importance from both academic researchers and corporate decision makers. According to academic scholars, the concept of IMC cannot be defined with the help of any rigid definition. An in depth understanding of the various ways of marketing communication would be useful in explaining the huge utility of this term in the present business context and the marketing activities made by companies all over the globe (Drummond & Ensor, 2005). Integrated marketing communications The procedure followed in integrated marketing communications refers to a series of activities made by companies in succession to one another. These activities are â€Å"the strategic analysis, choice, implementation and control of all elements of marketing communications which efficiently, economically and effectively influence transactions between an organization and its existing and potential customers, consumers and clients† (Panda, 2007, p. 524). ... This applies to any category of corporate organization that deals with any kind of product or service. Companies can however, customize each individual process of this entire system according to the marketing objectives and production goals of the organization. For all the years since 1950, companies have used this concept of marketing communications as an all inclusive notion of marketing that acts as an envelope to all the different levels of marketing activities and communication of the companies. However, the technique of integrating these varied functional areas strategically into the functioning of the companies differs from company to company. The approach is unique to the pattern of resource allocation made by the company and also its position and status relative to its competitors (FitzGerald, 2000). In this paper the concept of integrated marketing communications has been critically evaluated and the different elements of this process have been studied in order to device a single strategy for marketing communications. The prime aim of this strategy would be to allow companies to achieve customer satisfaction by following IMC. It would help companies to identify target audiences from the markets and frame the most appropriate strategy to communicate with them. Companies generally use multiple channels of communication. In order to generate best results, the strategy developed through the IMC process should be consistently used while executing each of all the communication functions made by the firm (FitzGerald, 2000). IMC Strategy & Plan Every organization runs its business with a three-fold objective; increasing market share, maintaining competitive advantage over the current rivals of the company and