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Integrated Marketing Communications Assignment Sample
Overview of the Organization
Capricorn is an organization based on membership, and it operates by principles of cooperative, for primarily supporting automotive industry’s businesses. Operation on principles of cooperative means that the members are the owners as well, and they possess the right of receiving dividends, in case the dividends are declared. This approach facilitates the members for better management of their businesses because of saving of time as well as money. It offers a wide range of services to its members. These services include finance for motor vehicle as well as equipment, committed travel services and protection of business.
While close working with leaders in the industry, Capricorn provides educational workshops and training to the members. It also regularly organizes social and networking question. The committed area managers, who are based locally, visit the members and the chosen suppliers for understanding their needs pertaining to the business and maintain them updated with the details of Capricorn as well as the buying industry of automotive parts.Capricorn is a key player in the sector of automotive parts buying, and has more than 2,200 preferred suppliers and 15,000 members internationally. (Capricorn Society Limited, 2013)
List of Assumptions
For structuring a comprehensive and effective Integrated Marketing Communication Plan, there is certain information that is required. The list of assumptions is as below:
- The amount spent on business communication
- The results of previous marketing communication programs
- Specific goals of the company
- The goals in relation to the product
- The increase/decrease in the number of customers in the last three years.
- Issues faced with previous Integrated Marketing Communication Plan.
The company is faced by several issues due to high competitive environment. The primary competitor of the company is the big Original Equipment Manufacturers. This is so because in case the distribution of spare parts and the automobile services is conducted by the manufacturers of the equipment, the customers prefer such services by them because they would have the better information and idea about the functioning of the pars and the exact requirement to service the automobile. For the purpose of attaining higher share in the market, several OEM are considering the supplies of parts and the automobile services, which has posed a severe threat to the business of Capricorn Society Limited. The secondary competitors of the business in the automotive industry are the ones from where Capricorn draws its Authorized Purchasers. Here, competition could lead to consolidation and down-sizing of independent automotive repairers which in turn could negatively affect Capricorn’s performance.
Current Marketing Mix
The Marketing Mix refers to the different types of decisions that are required to be made from the available options. These decisions relate to the entire process of getting the product or service to the market. The marketing mix can be best explained with the model of the 4Ps is one way, which is the most famous way to define the marketing mix. The current marketing mix of the company is explained below:
Product – Capricorn aims at meeting the customer needs pertaining to micro finance for motor vehicle as well as equipment, committed travel services and protect the business. The services are3 provided with speed and customer satisfaction is ensured. The services can be used at their home or any other specified place as per the convenience of the members.
Place – The services are provided to the members at the place of their convenience and at the workplace. The orders can be placed online or through the website of the company. The samples are sent o the authorized purchasers as well.
Price – Since the services are provided to the members, the price of the services are quite competitively set. Since the competition in the industry exists, the customers are price sensitive and with even a small change in the price, there is a large change in the market share. (Capricorn Society Limited, 2013)
Promotion – The promotion of the services is done to its target members, which are above 18 years of age. Currently the marketing message is sent on radio and is done through banners on the roads. The competitors are currently taking up the advanced means for promotions such as social media sites, emails, etc.
The IMC will have its basis in the objectives of communication. The ultimate goal is to achieve these objectives so as to make sure that purpose, with which the plan was initiated, is met with.
The communication objectives are:
- Increase awareness of the services and achieve at least 20% increase in the number of members by the end of the implementation in the first year.
- Increasing the click?t Make 20% of the target audience aware of this program by the end of the first
- Year of implementation.
- Secondly we want to increase click?throughs by 30% on the website by year 1.
- Increasing the number of members by at least 30% in the year of the plan, of which at least 10% should be in the first six months.
- Increasing the visit of the dedicated area based managers so as to communicate the details of services in person.
Capricorn provides exclusive services from instant credit for the automotive industry. It is an organization that is based on membership and these members are the owners as well who receive the dividends, if they are declared.
Segments of IMC Plan
The IMC plan would include the situation analysis, marketing mix objectives, issues and challenges, history of the services, target audiences, positioning, marketing strategies, medium of marketing, competition, branding and messaging, communication vehicles, and opportunities.
Use of Promotional Mix Elements
The use of elements of the promotional mix would be done for an effective promotional mix to optimize the impact on the target market. All the 4Ps – Product, Price, Promotion, and place would be evaluated and enhanced so as to shape an ultimate Integrated Marketing Communication Plan and these elements will be used in creating an online marketing communication model.
Capricorn Society Limited. (2013). About. Retrieved 09 27, 2013, from http://www.capricorn.coop: http://www.capricorn.coop/components/templates/Internal.aspx?pageid=78.
Capricorn Society Limited. (2013). Capricorn. Retrieved 09 27, 2013, from http://www.capricorn.coop/: http://www.capricorn.coop/.
Tools, M. (2013). The Marketing Mix and 4 Ps. Retrieved from http://www.mindtools.com: 27