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The way the organizations act in business markets has been changed by Digital Technologies in terms of what they market and how they market and they also pose new requirements to the capabilities of a firm. Many aspects of business marketing have been affected by the recent trends in digitization and digitalization. Although the use of data in business-to-business marketing is not a new trend, digitalization and digitization have attracted a great deal of attention in firms’ business models. The main aim of this paper is to create an overview and consolidate this stream of Research. This paper also offers a brief overview of research about digitization and digitalization in business-to-business marketing (Ritter & Pedersen, 2020). To Learn More: https://www.phdassistance.com/blog/ Contact Us: UK NO: +44-1143520021 India No: +91-8754446690 Email: [email protected]
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MARKETING A COMPANYAMONGST MULTIPLECOMPETITORS
An Academic presentation byDr. Nancy Agens, Head, Technical Operations, PhdassistanceGroup www.phdassistance.comEmail: [email protected]
In Brief
Introduction
Integrated Marketing Communications (IMC)
Reasons for the Growing Importance of IMC
The Role of IMC in Branding
Internet Marketing
Review of the Marketing Plan
Conclusion
Outline
TODAY'S DISCUSSION
A firm should possess a clear business strategy that is supported bystrategies of other firms, in order to accomplish in today’s competitive business
environment. According to previous studies, strategic alignment enhancesthe performance of the firm, whereas strategic alignment including many
factors or a firm’s strategic orientation has received very little attention. Formany years, marketing management professionals have stressed the
importance of aligning strategies of organizations to improve the overallbusiness strategy and such strategic alignment will lead to a more intensive.
In Brief
The way the organizations act in business markets has been changed by digitaltechnologies in terms of what they market and how they market and they also pose newrequirements to the capabilities of a firm.
Many aspects of business marketing have been affected by the recent trends in digitizationand digitalization.
Although the use of data in business-to-business marketing is not a new trend,digitalization and digitization have attracted a great deal of attention in business models.
The main aim of this paper is to create an overview and consolidate this stream of Research.
Introduction
Many companies have adopted a broader perspective of IMC.
These companies foresee it as a way to organize and handle their marketingcommunications strategies to ensure that they give reliable info about the company totheir customers.
For these companies, the IMC approach is an improvement over the traditional methodof various marketing and communications strategies.
The IMC approach helps companies to communicate and build relationships with theircustomers and other stakeholders such as employees, investors, and suppliers byidentifying the most suitable and effective methods.
Integrated Marketing Communications (IMC)
Both the large and small companies have adopted the most popular IMC approach formarketing communications planning and strategy that has become popular amongfirms marketing.
There is a variety of reasons for marketers to adopt the IMC approach.
A basic reason is that they understand the significance of integrating the variouscommunications programs strategically rather than operating autonomously.
By coordinating the efforts of their marketing communications, replication can beavoided by the companies.
Reasons for the Growing Importance of IMC
Contd..
Figure 1:
The main challenge faced by the marketers is to know how to use the IMC tools to attractthe customers and deliver information about the company effectively and efficiently.
The IMC program becomes successful when marketers identify the right combination ofcommunication tools and techniques, characterize their role and the extent to whichthey can be used.
The promotional mix contains six basic elements: advertising, direct marketing, salespromotion, internet marketing, public relations, and personal selling.
Direct marketing and internet marketing are viewed as major promotional-mix elementsthat recent marketers use to communicate with their customers.
The Role of IMC in Branding
Contd..
Figure 2: The Promotional Mix
The way the companies design and implement their business and marketingstrategies are entirely changed by internet marketing. .
Perhaps the most common idea on the internet is that the internet marketing is justa marketing platform, as many marketers advertise their brand on otherorganization’s websites.
Although internet marketing is used as an advertising medium, it can also be viewedas a promotional tool.
Internet Marketing
Reviewing the marketing plan and objectives is the initial step in the IMCplanning process.
Marketers must first understand the current position of the company, the level thatthe company has to be reached among the audience, and the plan that has to beimplemented to achieve the goal.
Marketers must form this information in the marketing plan which is a writtendocument that well describes the overall marketing strategy.
A promotional plan is a key part of the marketing strategy for most organizations.
Review of the Marketing Plan
The challenge for companies might be to identify the marketing strategies thatwould influence the commitment of a customer to a relationship.
Intense competition in international markets typically triggers efficiency intentionsmay inspire managers that actively seek differentiation in their offerings to resist theefficiency trend when the competition among firms intensifies.
Instead, the firms can carefully evaluate the feasibility of new competitors andcompetitive contributions with regard to their own, and remain persistent in theirefforts to find out innovative ideas.
Conclusion
