Week 4 Project

Integrated Marketing Communications

© 2016 South University

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Marketing Management

©2016 South University

2 Integrated Marketing Communications

Week 4 L3

The integrated marketing communication approach is the latest strategy used by marketing managers to promote their brand in the target market. The strategy basically combines the different elements of the promotion mix under a common theme, which is focused on a specific market. When all the elements of the promotion mix send the same message, they reinforce each other and the message in the minds of the target market. Check out the Case Study Below

Case Study: Wells Fargo

The goals of the integrated marketing communication strategy should be based on the goals of the marketing plan. A successful and integrated marketing communication strategy weaves the different elements of the promotion mix together in a way to enable the elements to support the marketing plan by communicating the attributes of the brand to the target market.

Advertising is the element of the promotion mix that usually has the greatest reach, so it should set the pace for the integrated marketing communication strategy and the message it sends.

Wells Fargo wanted to send its target market a message emphasizing the security and stability the bank provides its customers. So it used a stagecoach as its corporate symbol in its advertisements, which reminds the market of the fact that the bank has been in business since 1852, when it transported money in strongboxes on stagecoaches. This sends a message of security and stability, which is especially important, considering the recent economic problems.

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Marketing Management

©2016 South University

3 Integrated Marketing Communications

Week 4 L3

Another element of an integrated marketing communication strategy is interactive marketing. Today, all integrated marketing communication campaigns have Web sites that serve as an anchor for the campaign. Advertisements on the Internet link directly to these Web sites, which provide a vast depth of information on the brand. Often, consumers can purchase the goods or services directly through this source.

Consider the Wells Fargo Web site, which enables the consumer to open banking accounts and purchase other banking services. Wells Fargo’s advertisements in press releases and other forms of communication carry or display the Web site clearly. In fact, Wells Fargo has a number of billboards showing only its stagecoach and Web address.

Public relations should be integrated into the strategy to reinforce the message.

Press releases made by Wells Fargo remind the public of its long history and strength as a bank. This serves to complement the message sent by its advertisement. Wells Fargo also has replica stagecoaches from the 1850s, which it sends around to fairs and other public events to promote its brand by letting people take pictures next to them or even ride in them.

Direct mail offerings need to include advertisements consistent with the advertising campaign. Moreover, when the organization’s sales people are making their pitch, they too need to remind their customers of the main theme of the campaign.

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Marketing Management

©2016 South University

4 Integrated Marketing Communications

Week 4 L3

Finally, the integrated marketing communication strategy should include a sales promotion element. Coupons, special offers, and sales should all be used in connection with the integrated marketing communication campaign.

Often, Wells Fargo offers giveaways to people opening new accounts or when they do their banking online.