Print-friendlyComparing IMC to The Traditional 4Ps
Traditional marketing theory and execution relies on the simplicity of the 4Ps: Price, Product, Promotion, & Place (Distribution). But as consumers change their buying and decision making habits, this theory has come under strain.
IMC is a relatively new model for organizations to market and communicate their brand, products and services to the general public. When compared to the traditional ‘4Ps’ in marketing – that of product, place, pricing and promotion – its value for modern businesses and organizations becomes clearer. This will discuss the advantages that an integrated marketing and communications approach offers organizations.
To understand the advantages of IMC, one first has to understand what IMC is all about and what it represents. Many of the concepts that the IMC process promotes differ from traditional marketing practices. In its most basic form, IMC places the customer at the center of an organization’s universe and focuses on developing messaging, communications, and even product and/or service features in relation to the needs, wants, desires and attributes of its consumers. IMC represents a holistic approach to communicating brand and product value that is rooted in the needs of the consumer, and one that is coordinated, targeted, consistent and measurable when successful.
In considering IMC relative to the traditional 4Ps, several advantages accrue to organizations that rely on it. These include understanding the customer at a greater level, enabling the ability to differentiate oneself from competitors offering similar products, more effective product and organizational planning and more quantifiable measurement and analysis on marketing communications investments.
The basis of IMC is in understanding the customer. This includes things like their wants, needs, desires, aspirations, as well as a countless number of demographic and physcographic attributes. Because of the fact that IMC forces an organization to understand and ‘feel’ many of these factors, management obtains a far greater level of understanding about the consumer. With this data and understanding, the organization is then able to create messaging and conduct activities that hold a greater degree of significance to that audience. Hopefully, this has a direct impact on the success of its product or service in the marketplace, as well as its success in creating greater shareholder value. It is also is able to make more educated decisions relative to product development, media spending, communications (internal/external) that works in support of its corporate mission.
Carrying this greater understanding of the consumer forward, organizations that practice IMC are also put in a more advantageous position relative to branding and differentiation. It is common knowledge nowadays that many of the advances in manufacturing and production over the last half-century has created an environment in which firms are finding it increasingly difficult to differentiate themselves. In the days previously, organizations may have relied on product features, manufacturing processes or other techniques to create barriers of entry into the marketplace and to position themselves. This is no longer an option. Plus, when these factors are combined with other emerging trends, like globalization and/or electronic communication, standing out in the marketplace is all the more difficult. Not ironic is the fact that many of these techniques closely paralleled marketing theory popular in the day: the traditional 4Ps.
IMC frees organizations to differentiate themselves in ways that are relevant to their core consumers. As such, it is an extension of consumer knowledge and another weapon in their arsenals. While branding and brand management is a gigantic and complex topic in its own right, organizations are able to obtain more value – in terms of bottom line impact - out of successful brand development comparable efforts in other areas. The reason for this is that when properly implemented, the brand actually becomes part of the consumer. It establishes an intimate relationship with the consumer that transcends product features, price, logistical issues or other ‘hard’ factors. In doing so, organizations and its products become positioned within ‘spaces’ that are ultimately defendable against any competitor utilizing any means. Basically, its marketing at a deeper level. The differentiation ‘answers’ are actually provided by the consumer; it becomes the organization’s charge to implement them.
This process is a stark contrast from traditional methods of separating oneself in the marketplace. Traditionally, organizations would offer the products and gauge the consumer’s reactions. Sort of a top down approach. IMC promotes the exact opposite, all in service to the consumer.
Further upstream in the organization – at the managerial level of strategic planning, etc - IMC enables organizations to develop more effective courses of action in much the same light as differentiation. Once again, the knowledge of the consumer gleaned from the IMC processes paints the picture and fills in the blanks. One hand washes the other. At worst, the organization makes decisions in the context of as much information and consumer understanding as possible. In contrast to traditional marketing approaches (top-down, centralized), IMC-enabled organizations become more effective planners, anticipator and reactors. They see change as it happens, are able to react faster when needed, and are in a better position to recognize areas of shortcomings and make corrections. When this is done effectively, the processes and decisions that are carried out have a greater chance of creating value than ones formulated in a less-than integrative fashion. This is largely due to the consumer-focused nature of the decisions, their relevance to the consumer and their integration with perceived consumer wants, needs and desires.
In pursuing planning, differentiation and consumer knowledge, organizations are also constantly seeking to improve their methodologies and processes. Doing so helps create greater shareholder value and, more importantly, enables the organization to serve the needs of their consumers in a greater way. Another advantage of IMC is the prospective wealth of quantifiable measurements that can be taken from this process. At present, it is well known that IMC measurement best practices continue to develop, but what’s more important from the discipline’s perspective is potential. IMC provides potential in measuring a greater number of factors, greater understanding of their relevance. Related to this measurement potential is the fact that the organization can then hold their processes and practices more accountable than has been the case when using traditional approaches. While the measurement systems within IMC continue to develop, they work in tandem with this concept. Compared to traditional approaches, IMC possesses a greater degree of potential in this area.
Organizations of all types continue to grapple with the current marketplace and are finding it harder to stand out, to communicate their value and to achieve relevance in the eyes of their consumers. While IMC is certainly no panacea and remains a challenging concept to implement, doing so provides a number of advantages. As marketers, we are only beginning to be understand the advantages of integrative approaches and groups that take the organizational risks to implement them stand to gain the greatest advantages.
What we do know at this point is that IMC is a process that takes time and effort to implement. We understand also the processes that successful organizations have taken to implement it. And, of course, we know what goals it seeks to achieve.
So while there is risk to change, unknowns to tackle while it is pursued, IMC has several advantages over traditional means that are warranted for today’s environment.
