When designing a communications plan for any type of company, there are a number of tools and situations to be attentive towards. Defining and identifying the target market, researching which media outlet will give the company and product the most exposure for the money. Setting the budget for the advertising of the company and the product and deciding the appropriate promotions to appeal to the largest part of the targeted audience. Planning is critical for success in bringing in and retaining loyal customers for a long and profitable life.
Role of Research in IMC
According to Semenik (2002) the role of research will help create strategies and produce integrated marketing communications (IMC) tools and materials. Enlisting the aid of an advertising agency will help in the market research to ensure the correct market is being reached, suggest imaginative approaches and help in the production of materials for the IMC.
The furniture company Olive used demographic data to include age group information, household size and annual income.
University of Phoenix stadium, site of this yearโ...
University of Phoenix Stadium
Removable field of the University of Phoenix Stadi...In addition since Olive was an established company they use customer spend report and data from European Sales. The last piece of information used was the Franklin McCarthy report on the furniture market in the United States (University of Phoenix 2004).
Choosing the age groups 25 to 34 and 35 to 44 with annual household income of $50,000 to $100,000 and a household size of 2-4 the potential number of customers will be 9,777 and sales will be $1,777 million. This is the optimal target audience based on demographics to generate the most customers and the highest number of sales (University of Phoenix 2004)
The Importance of Segmentation and Targeting of the Audience
Using only demographics does not clarify how the customer thinks, what the customer likes or believes. People do not buy using...