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SYNOPSIS

OF
MGT-962
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SUBMITTED TO: SUBMITTED BY:

Mr. Ujjwal Kanti Paul SHOBITA AHUJA

10807593

ROLL NO:A14

INTRODUCTION
Integrated Marketing Communications (IMC) is the coordination and integration of all
marketing communication tools, avenues, functions and sources within a company into a
seamless program that maximizes the impact on consumers and other end users at a minimal
cost.

What is IMC?
Integrated marketing communications (IMC) is a process for managing customer relationships
that drive brand value primarily through communication efforts. Such efforts often include cross-
functional processes that create and nourish profitable relationships with customers and other
stakeholders by strategically controlling or influencing all messages sent to these groups and
encouraging data-driven, purposeful dialog with them. IMC includes the coordination and
integration of all marketing communication tools, avenues, and sources within a company into a
seamless program in order to maximize the impact on end users at a minimal cost. This
integration affects all firm's business-to-business, marketing channel, customer-focused, and
internally directed communications.

IMC Components
The Foundation - corporate image and brand management; buyer behavior; promotions
opportunity analysis.

Advertising Tools - advertising management, advertising design: theoretical frameworks and


types of appeals; advertising design: message strategies and executional frameworks; advertising
media selection. Advertising also reinforces brand and firm image.

Promotional Tools - trade promotions; consumer promotions; personal selling, database


marketing, and customer relations management; public relations and sponsorship programs.

Integration Tools - Internet Marketing; IMC for small business and entrepreneurial ventures;
evaluating and integrated marketing program.

Importance of IMC
Several shifts in the advertising and media industry have caused IMC to develop into a primary
strategy for marketers:

1. From media advertising to multiple forms of communication.

2. From mass media to more specialized (niche) media, which are centered on specific
target audiences.

3. From a manufacturer-dominated market to a retailer-dominated, consumer-controlled


market.
4. From general-focus advertising and marketing to data-based marketing.

5. From low agency accountability to greater agency accountability, particularly in


advertising.

6. From traditional compensation to performance-based compensation (increased sales or


benefits to the company).

BANKING
A bank is a financial intermediary and appears in several related basic forms:

A central bank issues money on behalf of a government, and regulates the money supply

A commercial bank accepts deposits and channels those deposits into lending activities, either
directly or through capital markets. A bank connects customers with capital deficits to customers
with capital surpluses on the world's open financial markets.

A savings bank, also known as a building society in Britain is only allowed to borrow and save
from members of a financial cooperative

Banks often start as microcredit or savings clubs which become formalized, first as credit
unions and later savings banks which transform themselves from cooperatives to limited
liability companies. A fuller description of these forms appears below.

Banking is generally a highly regulated industry, and government restrictions on financial


activities by banks have varied over time and location. The current set of global bank capital
standards are called Basel II. In some countries such as Germany, banks have historically owned
major stakes in industrial corporations while in other countries such as the United States banks
are prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a
cross-share holding entity known as the keiretsu. In Iceland banks had very light regulation prior
to the 2008 collapse.

The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, and
has been operating continuously since 1472.

STEPS FOLLOWED BY BANK FOR CREATING IMC

1. IDENTIFY TARGET: The bank has to identify its customers i.e its target audience

2. ANALYZE SWOT: The bank has to do the SWOT analysis i.e its strength, weakness ,
oppurtunities,threats from other banks.

3. DETERMINE MC OBJECTIVE:They have to determine the objective of the marketing


communication
4. DEVELOP STRATEGIES AND TACTICS:They have to adopt different promotional
strategies to have new customers

5. SET THE BUDGET: They have to analyze the budget of the plan

6. EVALUATE EFFECTIVENESS: After the IMC they have to analyze the effect of the
IMC by surveys.

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