Imc - Market Research , Corporate Image and Branding
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You have exactly one minute to closelaptops , cell phones , and we need
switched off cell phones not even silent
modes ! If you have notes to finish am toldthis institute has a very good library , in
short please get your undivided attention
on the screen for the next 90 plus minutes.
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Today we shall discuss a few basic terms or
pre IMC activities . Please note you are
free to add your rejoinders or drop in with
your questions. I can live with people who
ask dumb questions not those who remain
silent
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Integrated Marketing Communications and
Market Analysis and Market strategy. What
would you do if you did not know whereyou want to go ? What would you say if
you did not know who your audience is ?
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More so , todays class will give you a very
very brief taste of this ocean called
branding or brands.
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IMC has to be aligned with the marketingstrategy . If we trace the evolution of IMC it
use to follow the marketing strategy , but
in an increasingly communicationaggressive world it has become something
which now almost coexists with it.
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Market analysis is a documented investigationof a Market that is used to inform a firm's
planning activities particularly around decision
of: inventory, purchase, work force
expansion/contraction, facility expansion,
purchases of capital equipment, promotional
activities, and many other aspects of a company.
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Not all managers are asked to conduct a marketanalysis, but all managers must make decisions
using market analysis data and understand how
the data was derived. So all managers need a
reasonable understanding of the tools most
used for making sales forecasts and analyzing
markets.
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From the IMC perspective . Market analysisis done to understand not just the anatomy
of the market but which way will it go ?
Unt kis karvat baithega !
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Market strategy drives and impacts the
IMC in a straight complementarymanner . Thats why VJs are dressed in
trendy informals . Their channel
strategy is to be the voice of theyoungsters .Newsreaders and analysis
experts in formals . They have decided
to be the voice of the mature andevolved youngsters BTW the formals
are also trendy !!!
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While experts will give us loads of
strategies and types to choose from
for the comfort of remaining focusedon our subject IMC , lets broadly
classify them as two .
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1. Competitive strategies
2. STP strategy dont ever take
this one easy.
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To formulate your IMC you need to
understand your competitiveadvantage . Maruti Alto Ads dont talk
about class or wow factor they talk
mileage and sturdiness . Only an idiotwould pit it against a volkswagen or
mercedes.
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To take the point further the entire
maruti suzuki cars product line is now
being presented as fuel efficient
kitna deti hai ??? Maruti has defined
its market , and competitive advantage
spot on . The IMC now reflects that .
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STP strategy is the big daddy of them
all and in all probability is coexisting
with IMC everywhere today . Can we
have the full form ofSTP please?
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Segmenting , targeting and
positioning.
Dont be everything to everyone . Not
every product is a newspaper.
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Segmentation divides a large market
into smaller and more manageable
submarkets in order to identify
homogeneous markets - that are a)
similar in needs and reaction to
companys marketing activity b) are
different from the other consumers
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Segmentation rules . Please remember
this segmentation is necessary attimes even in a similar looking group .
True all youngsters like chocolates
but then why are there 20 differentbrands of chocolates from cadbury
alone ? All young men prefer bikes
then why dont they buy the same
brand ?
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Segmentation is geographic,
demographic and psychographic.
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Geographic Segmentation . You sell
beach ware in goa and salwar kameez
in amritsar . And dont worry I wont
stop the rebel in you to do the
opposite I respect individual freedom
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Demographic Segmentation . The
reason MCdonald sells Rs.20 meals
because of this . Can you explain thenwhat is demographic segmentation ?
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You target your customer based on hisage , income, sex , education ,
occupation etc and when you do that
intelligently then you have peopleeating a bland bread with a small aloo
cutlet inside with some ten drops of
tomato sauce and proudly saying I
am loving it !
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Psychographic segmentation . You
select or differentiate between your
customers on their attitude ,
personality etc
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Behavioural Segmentation . It is based
on the way you buy , usage rate etc .Ever wondered why the dvd of 3 idiots
will also give you a discount coupon
on munnabhai dvd or why is it thateverytime you order a pizza they give
you a next-time-you-buy discount
coupons ?
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Target market . Once segmentation is
done the company does target marketdecision . Since not all manufacturers
are selling gas cylinders they need to
define the target market . The target
market could be one segment or group
of segments .
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Positioning the product . Do this first
else your IMC will fall flat .
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All this leads us to creating corporate
images or BRANDS .
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Ok . Now tell me where did the word
brand originate from ?
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In the late 1800s, cowboys drove huge
herds of cattle across the central plains
of the USA. During these cattle drives,
the cowboys would often meet othergroups of cowboys driving their cattle.
As was often the case, the cattle would
come together to form one enormous
herd.To tell which cattle belonged towhom, each ranch had its own special
symbol that would be branded
with a hot iron on the hide of every
calf belonging to that ranch. Ranchers
generally used three types of marks in
branding figures, numbers and letters,
with the brands being read in one
of three ways: from left to right, from
top to bottom, and from outside in.
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Each brand became almost a heraldiccrest a cattlemans coat of arms, if
you will. Brands not only identified an
owner or a ranch, but also provided a
set of traditions and a unique sense ofidentity for the cowboys. It was not
uncommon for a cowboy of the times
to ride for the brand more than for the
individual ranch owner.
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So what exactly is brand ?
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A brand is the identity of a specific
product, service, or business. A brandcan take many forms, including a
name, sign, symbol, color combination
or slogan.
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My personal all time explanation of a
brand is that it is the promise of the
quality associated with a good orservice.
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Branding is not merely the logo, some
catchy tagline or the creative pastime for the
marketing department.
Branding is the heart and soul of an
organization. Your brand
should stand for something, be authentic and
uniquely yours. Itshould be woven into every important decision
and resonate
through every point of contact with a companys
market. Having a
strong point of difference in your brand category
is a major advantage
in landing a successful brand.
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Coke the name , sign , symbol are all
brands
Color symbol becomes a brand the
sunflower of wipro.
S
logan can be a brand - applyingthought !
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IMC process decision makers should
not forget that in the sea of samenessbrands must standout .
Run like the rest and you too will be aroad kill.
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The essence of a brand is the mental
imprint we planton the minds of our market. Like a Brain
Tattoo a
brand creates feelings, emotions and anaffinity to our
products, services and companies. For
years, large companieshave devoted tremendous resources to the
branding process.
Th
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They
know well-developed and executed brands
create customer loyalty,
block out competition, allow for greater
profit margins and instill
confidence in stakeholders. They also know
that, for buyers, brands
simplify choice, reduce risk and purchasing
anxiety, enhance self image
and save time. This same branding formulacan work for a
small business or a nonprofit as well as
develop a personal identity
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