Essentially marketing is the process through which awareness of a certain product or service is created. The major intention of marketing is to communicate to new and potential buyers in the market. On the same note, market integration can be defined as a process of bringing together all market materials or methods for purposes of enhancing effectiveness. These materials include direct marketing, one to one marketing and mass marketing. The market data, obtained using these methods is used in product development, distribution, customer relations and pricing.
With the ever-changing trends in business and marketing environment, it is inevitable to discuss market integration without the mention of communication. Therefore, Market integration communications refers to the process of close maintenance of customer relations through proper and highly organized system of communication. This trend increase brand value, which in return reciprocates high turnover on a company’s investments. This is a sole objective of any business unit.
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Integrated marketing is valuable in many ways as it can be deduced from above, but most importantly, it helps any organization to up its return on investment. This is possible due the narrow gap between the company and its customers. Apparently, customer’s needs and desires are well known by the company, which in return responds in the most satisfactory manner.
The Thunder Factory in San Francisco is among the many companies in the world that have practiced integrated marketing for a long time. This has necessitated it achieve its goal of increasing return on investment. Consequently, it has achieved high level of customer relations and strong communication links that has highly contributed to its enormous growth. Through well-coordinated integrated capabilities, this factory has enhanced promotion of its products, which includes branding, advertising, web design, digital marketing, and graphic design among others. It has also increased its sales capacity and hold on its customers. This factory has been able to integrate promotional tools such as; sales promotion, direct marketing, personal activities, internet marketing, public relations and sponsorship marketing with all other components of marketing mix. This has seen the factory edge over its competitors.
A company without a marketing plan is in fact is termed as dysfunctional. This situation is indescribable, as no company would achieve its objectives that range from good customer relations to high returns on investment and building brand value without basing its business activities in a definitive market plan. Marketing plan consists of situation analysis, marketing budget and marketing objectives.
Marketing plan comes with it many benefits but just to state the most key ones: If facilitates understanding of the customer’s needs and wants, understand the consumer’s cost to satisfy the want, primarily it is believed that the price of a product constitutes fully the cost structure of the consumer. This is not the case since the consumer cost structure can comprise of the cost to drive, cost of consumer’s conscience to decide what to buy, and even the investment the consumer is willing to make avoid risk.
Moreover gauging the customer’s convenience, which can be in aspects of virtual location, ease of access or transaction service time is key, in this case appropriate delivery methods should be upheld to the later. In addition, the two-way communication and its impact on the position in the consumers’ mind should be well understood, this simply implies to how many times and through which means a consumer receives a message and what is his/her feedback. The feedback enables the company to factor out the needs of consumer and act appropriately to the maximum satisfaction of the consumer. It also facilitates understanding of the competition level in the market and consequently the brand royalty. Marketing plan also is not only cost and time effective but also a key element in improving the organization’s ability to protect the integrity of the product or service.
According to (Miller, Rose 1994), the benefits that accrue to usage and adherence to market integration plan cannot be realized in a company, which does not observe marketing plan. These benefits apart from promoting satisfaction of wants and general effectiveness, they also constitute creation of opportunities, identification of target markets, competitors and strategic positioning of products.
Because there is, high rate of merging traditional media and internet, the world has continued to be very competitive, and this leaves us with the option of appreciating market strategy as an important factor in business activities. A Company can consider applying several strategies in its endeavor to achieving marketing outcomes. Some of these include; brand management, customer relations (communications) and sales. On effective application of these strategies, a company can generate its specific marketing outcomes at a given time (Kenneth, Donald 2007).
In conclusion, integrated marketing has continued playing a significant role in the broad world of business and it is beneficial for each business to embrace it.