IMC Builds the Relationships that Build Brands
June 3rd, 2008This accurate description of Integrated Marketing Communications, the words often heard when describing the field, are an important part of what we do at Mellon & Co. It may help our clients, and even prospective clients, to have a deeper understanding of our core philosophy:
Marketing: It is a process. We measure the results of the process by number of customers, sales, amount of profit generated, etc.
Marketing Communications (MC): This is an umbrella term for all communication avenues available for conveying marketing messages. These include advertising, public relations, sales promotions, direct response marketing, events, sponsorships, point-of-purchase materials, packaging, trade shows, customer service, and personal sales. MC is measured as the proportion of marketing dollars assigned to each avenue and the marketing return on investment (MROI) for each.
Marketing Mix: The specific MC elements used by an organization, measured in marketing dollars and MROI.
Brand: It is the total collection of perceptions and associations (good, bad, and indifferent) that differentiate an organization from its competitors.
Integrated Marketing Communications (IMC): Another process. IMC is the organization, planning, and monitoring of marketing components and data to control and influence brand information, associations, and experiences. The goal is to incubate profitable relationships and dialog with patients and other groups. This is typically measured by internal and external surveys, focus groups, managerial accounting, trend analyses, referral indices, etc. [Source: audiologyonline.com, describing how they use IMC for their business model.]