Objectives of the IMC Project
This project gives you a chance to work on a marketing communications campaign, much like you would in an advertising agency. This hands-on project is designed so you will (1) select objectives for an advertising campaign, (2) formulate a creative strategy for an advertising campaign, (3) select media that efficiently reaches targeted audiences, (4) discuss the various methods used to track the effectiveness of ad executions during and after the launch of an advertising campaign, and (5) employ appropriate research techniques and analyze, interpret, and present data effectively.
The Integrated Marketing Communications Plan
An IMC plan is a blueprint of the complete marketing communications program for a product/brand. It is a formal document that evaluates the background of the brand and presents a set of guidelines and an action program for the advertising and promotions campaign.
The Client
Your choice! Have fun pick a business you are interested in or a small business you know that might benefit from your project.
Project Requirements
Written Report
You will prepare a professional report (the IMC Plan). It should also contain any campaign materials that would be submitted to the client. The IMC Plan (minimum of 8 pages, including title page, table of contents, executive summary, content, references, etc. – double-spaced, containing sentences/paragraphs with some bullet points periodically) should be typed, and the campaign materials should follow the execution requirements listed below.
Campaign Materials Execution Requirements
All materials must be created by you not by outside sources. Handwritten work is unacceptable, unless used for special effect.
Execution Pieces Required
You need to produce at least three communication pieces for the company. Some examples are listed below. Remember your choices must be consistent with your message and campaign objectives.
Create a 30 second spot for use on the radio: start with writing a script
Create a newspaper ad for national distribution: make example of ad
Create a direct mail piece to be sent to a given list of homes: make example of piece
Create a billboard for use on a heavy route of highway: make example of ad
Create a 30 second spot for national TV: make example of ad ***Your budget is small, so unless you produce yourself, not realistic ****
Create a full-page magazine ad for publication in a national magazine: make example of ad
Create a three-fold brochure for use by the company’s sales force: make example of brochure
Create a specialty item (gift type) as a giveaway for the company to give to customers: make example of item
Create a website for the company: make example of site
Create an internet ad: make example of ad
Create two social media posts: make example of two posts (this is considered one piece towards required three communication pieces)
Create a Press Release: write press release
Create a Sales Promotion: make example of piece
Budget Requirements
Maximum amount = $10,000
IMC Plan Requirements/Layout
Title Page
Client Name
Agency Name
Your Name
Course Title
Professor’s Name
Date
Table of Contents (with page numbers)
List all major headings in your plan – with page numbers. Add headings at the beginning of each part of the IMC Plan. Use the names of the section (i.e. Organization).
Executive Summary
A summary (maximum of 2 pages) of exactly what your IMC Plan involves. Items include:
· Target audiences
· Time period of the plan
· Campaign objectives
· Campaign theme/slogan
· Overall budget total
· Budget breakdown (dollars and percentages) by each major IMC element and each medium
· Summary of media used (Media chart)
· Evaluation of program
The basic purpose of the executive summary is to inform the client (top officials) exactly what you are proposing in one or two pages. Be precise. Be complete. Providing bullet-type formatting – periodically – is an effective way to organize and present your material.
Part 1: Review of Marketing Plan & Analysis of Promotional Program Situation (Below is due for your mid-term)
Industry Background
A. Size
B. Growth
C. Current trends/development in industry
Organization
Internal Review:
A. Description of company
B. Place in Industry
C. Market Share
D. Overview of products/services provided
E. Mission statement
F. Position in Market: how does company differentiate itself in market?
G. Product/Service Review
Description of Product/Brand
A. Sales
B. Price of product
C. Place – where can it be purchased?
D. Life Cycle Stage
E. Low/High involvement product
F. Key Benefits
G. Brand Image
H. Current Positioning in Market – unique benefits, features, and competitive advantage?
External Review: Competitive Position
A. Describe the overall competitive situation
B. Who are your two major competitors?
C. For each of these major competitors describe:
Who is the key target market of your primary competitors?
What is their market share?
What is their position in the market?
What is their current marketing strategy & mix?
Current advertising and promotion used?
What is their current communication strategy (message, media used)
What are their strengths and weaknesses?
How is your client’s company better than competitors?
Competitor Analysis Example for Hardware Store
Home Depot
Target Market:
who are they, where do they shop
Builders, Contractors: know what they want
Homeowners: DIY-do it yourself & DIFM-do it for me (buy material and hire contractor to do the work): with some knowledge of what they want.
Also shop at Lowes and local hardware stores
Product:
focus of product line including service, branding, features, benefits
Very broad product line of hardware, lumber, lawn & garden (45,000 items)
Mainly self service
Well-known brands
Price:
Price level, credit offered, sales
Very low everyday prices, delivery and installation available at modest cost, credit offered to contractors who are regular customers, credit card also available to homeowners, typically offer 0% financing deals and rebates on large purchases
Promotion:
Types of Advertising/Promotion used, claims made in advertising
Types: Ads on TV, weekly local newspaper inserts, special orders desk.
Claim low prices in ads – current ad: “it’s time to turn a small budget into a big difference” and that you can do the work yourself.
Place: locations, transportation, supplier relationships
Lots of convenient locations – 2,230 stores in 50 states, suppliers truck directly to store locations
Positioning,
Slogan Used
Positioning: low price
Slogan: “You can do it, we can help.”
Market Share
#1 hardware store in world, second largest retailer in U.S. (Wal-Mart is #1)
Revenue (Sales): last three years
Jan. 2006: 81,511.0 (millions)
Jan. 2007: 90, 837.0
Jan. 2008: 77,349.0
Other advantages
Chains large volume gives it a cost advantage, so can offer lower prices
Buyer Analysis: Consumer buyer behavior that may affect your campaign.
A. Buying Decision Process
B. Who buys the product?
C. Who influences the purchase decision?
D. Decision criteria
SWOT Analysis
A. Strengths
What are the major competitive advantages we have over the competition?
B. Weaknesses
What are competitors better at than we are?
What are our major internal weaknesses?
C. Opportunities
What favorable environmental trends exist that may benefit our firm?
What is the competition doing in our market?
D. Threats
What unfortunate environmental trends exist that may hurt our future performance?
What technology is on the horizon that may soon have an impact on our firm?
E. Analysis of company/market and consumer needs
Based on the SWOT analysis, where is the current need in the marketplace?
Marketing Strategy/Goals
A. Marketing Goals
What is to be accomplished by the overall marketing program? The situation analysis is the foundation for the marketing goals. They are defined by one or more of the following:
sales volume
market share
sales revenue
profit
return on investment
Note: Marketing Goals and communications goals/objectives are different goals. Marketing goals establish the framework for the communication objectives.
B. Target Markets
Segmentation Analysis
Who is your primary target market?
Secondary target market?
Is there anything distinct about the target market the company serves?
Characteristics of Target Market
Geographics (do customers live in a particular area?)
Demographics (age, income, etc.)
Psychographics/Lifestyle Patterns
Generations
Benefit Segmentation
