Integrated Marketing Communications as an aspect of marketing was one of the courses I gained a lot from in the marketing classes. As an integral pillar in modern marketing, I realized how effective coordination and integration can combine to produce marketing messages for a company in a cost effective way. Integrated marketing aims to maximize persuasive communication through an optimal mix of such elements as public relations, advertising, direct marketing, packaging design, e-commerce and promotions all of which are central to marketing a product effect. It means that these aspects within an organization are interrelated and crucial in achieving an organization’s goal but the activities of each must be coordinated to avoid duplication of effort and to establish the right mix of each.
The import of this new concept is that the markets have fragmented considerably over the past few years with the changing technology and attitudes and hence the previous approach of mass marketing may not work as effectively as it used to. The shift there has been on target marketing to individuals and groups with fewer companies now doing less broadcasting in favor of newer trends in the market.
This means that specialists are each handling very distinct market segments in an independent way, something that may bring about confusion about the company’s brand image if not well coordinated. Designs such as the AIDA framework were very useful in looking at ways of designing messages. Lessons about choosing the media , message source and collecting feedback were very useful pointers on the process of crafting effective messages.
The percentages, percentage of sales and competitive parity methods were very useful guides on setting the total promotional budgets. This is a very complex process relying ultimately on the feedback of consumers and hence it is necessary to utilize the same promotion to get feedback. The need to minimize costs comes and to build personal communication is integral at this point.
I have learnt a lot about business in my marketing course and it will certainly inform my career path and decisions in the future. I have gained insight on the holistic nature of the various facets of an organization and that they have to all work together to achieve their objectives. Nevertheless, I have chosen to major in Finance since I am good with numbers and I find it necessary to align my career along this passion. My decision to major in Finance and marketing is also informed by the fact that I do not have an outgoing character that is necessary for a career in marketing.
I would describe my lessons on marketing as eye opening and I hope to take extra courses whenever I get the chance to in the coming years. Besides, I intend to work at the management level later where a holistic understanding of marketing as a crucial market of business will be required to effectively manage and make prudent decisions regarding the allocation of finances within an organization.
I am a technology enthusiast and I know that going by the recent trends in the industry, technology will ultimately influence the way marketing and business is done. Fields like Integrated Marketing Communication have been necessitated by this trend due to the ability of technology to bring out idiosyncratic individuals with unique needs. Keeping up with the changes will necessitate constant changes within companies to remain relevant and competitive. An ample knowledge of both will serve well for my career progression and productivity in the future. In today’s dynamic world, rigid divisions in professions no longer exist nor it is necessary and hence the need to constantly learn from other fields.