ROLE OF INTEGRATED MARKETING COMMUNICATION IN MODERN INDIAN BUSINESS Dr. Surendra Sisodia Editor- Share Journal of Multidisciplinary Research and Studies, Jaipur (India) firstname.lastname@example.org Mr. Narendra Telrandhe, Assistant Professor, MGV’s Institute of Management & Research, Nashik (India)
ABSTRACT The present paper torches upon the emergence of integrated marketing communications (IMC) that has significantly influenced thinking and acting among all types of companies and organizations facing the realities of competition in the present open economy. It has been proved as an efficient promotional tool to communicate more universally, clear, and effectively. The paper put lights on various facets of Integrated Marketing Communication (IMC) especially in Indian Business Scenario. The challenges and scopes of IMC with the context of strategies, implementation, and audit have also been discussed. Keywords : Integrated Marketing, Social networking, Indian Business
Introduction: In today’s ever changing “Nanosecond Culture” of social networks, empowered customers and hyper competition, we need to be prepared to immediately implement holistic thinking for our marketing and communications strategy. With an increase in global competition, technological advances, and fast informed customers, it is important for businesses to make a powerful impact on target audiences and markets. Integrated Marketing Communication (IMC) is one of the most important communications trends adopted all over. It is one such step toward an integrated approach to achieving efficiency by synergy.The emergence of this concept has become one of the most significant examples of development in the marketing discipline. It has influenced thinking and acting among companies but also authorities, state owned companies and political parties, all facing the realities of competition in an open economy. The concept of IMC As a concept IMC has become well known on an international scale during the 1990s. Thus IMC is a term whose widespread use is comparatively recent, a fact, which might explain why there not yet is a common understanding of its real meaning and the lack of a generally accepted definition. Some 20 years ago academics and professionals discussed theory and practice of business communication but International Refereed Research Journal www.researchersworld.com Vol.– I, Issue –1,October 2010
- Journal of Arts Science & Commerce
without considering the idea of integration as a realistic approach to reach a competitive strategic position for the company. Some early attempts in the beginning of the 1980s initiated academic interest and articles appeared in the academic literature (Dyer, 1982; Coulson-Thomas, 1983). From the beginning of the 1990s IMC became a real hot topic in the field of marketing (Caywood et al., 1991; Miller and Rose, 1994; Kitchen and Schultz, 1999). Few years back , major portion of marketing budgets went to advertising ,but now the scene has changed, it is allocated into various activities such as trade promotions, consumer promotions, branding , PR and advertising. The allocation of communication budgets away from mass media and traditional advertising has obviously promoted IMC in recognition and importance for effective marketing. The emergence of IT has fundamentally affected the media practices, contributed to an extensive deregulation of markets and individualized patterns of consumption and increased the segmentation of consumer tastes/preferences. The key has been ‘value’ and several combinations of methods are used, all aiming to raise benefits and reduce costs. Smith et al. (1999) have defined IMC as “the strategic analysis, choice, implementation and control of all elements of marketing communications which efficiently (best use of resources), economically (minimum costs) and effectively (maximum results) influence...