Free Paper Example on What Is Integrated Marketing Communication?

Introduction

Integrated Marketing Communication is an enterprise strategy of aligning and coordinating all the business channels of communication to create a consistent company's brand (Andrews & Shimp, 2017). The implementation of integrated communication channels follows five blends of publicity tools: advertising, direct sales promotions and marketing, public relations and personal selling (Andrews & Shimp, 2017).

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Examples of Companies That Has Implemented Marketing Communications Strategy

One of the examples of a company that has successfully implemented integrated marketing communication is Coca-Cola. Coca-Cola uses strategies such as electronic and media advertisements and promotional campaigns that reach people in their homes (Perez, 2017). Consequently, the Company has been able to establish itself as the best soft drink beverage company covering a more extensive market globally. Another business that has exceptionally implemented integrated marketing communication is the Samsung Company (Andrews & Shimp, 2017). Samsung uses a mix of advertising, sales promotion and the events that create good public relations to establish itself as an enterprise that manufactures the best home appliances electronic devices. Coca-Cola and Samsung use these methods in an integrative manner to create compelling company brand names.

Two Pricing Strategies

The best marketing strategies that I prefer is the skimming and penetration pricing strategy. Penetration pricing is a strategy that sets meagre commodity prices to get a broad market share (Hinterhuber, 2018). In my view, the internet companies need to create penetration pricing strategies in developing countries to gain a more extensive market share – since the world will ultimately move to the an-all digital age. Additionally, companies providing drone commodities can also apply a skimming strategy in developing countries to reap the maximum profit (Hinterhuber, 2018). The skimming pricing strategy aims to set the prices of commodities high before competitors enter the market. Thus, concerning drone technology, it is still a new technology in developing continents such as Africa; hence, there are minimal competitors in the market.

Conclusion

All in all, companies should study the target market well before implementing the marketing campaigns and pricing strategy to guarantee profits.

References

Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education.

Hinterhuber, A. (2018). Implementing pricing strategies. Journal of Revenue and Pricing Management, 17, 1-2. https://doi.org/10.1057/s41272-017-0129-6Percy, L. (2018). Strategic integrated marketing communications. Routledge.

Perez, F. S. (2017). Integrated Marketing Communications-Coca-Cola model. Prace Naukowe/Uniwersytet Ekonomiczny w Katowicach, 87-101.