The Marketing Mix and Its Interaction with IMC

In order to accomplish organizational goals, the various elements of the marketing mix need to be organized into a cohesive and effective marketing program.

We have learned that marketing mix consists of four elements, namely

 

• product,
• place, 
• promotion, and
• price.

These elements need to be consistent with one another, and each of these elements includes a number of decisions, but you have to pay specific attention with respect to how each interacts with promotion. So, it's the job of marketing management to blend these four elements together in a way to elicit customer response. For example, a new product with a very low promotion budget probably won't succeed and most consumers will reject a "no-frills" product with a high price. Most marketing decisions depend on the careful integration of the marketing mix.

In practice you may also hear the term supply chain management used instead of "place" and Integrated Marketing Communication (IMC) used instead of "promotion." In other words, the promotional program must be effectively coordinated with other marketing mix variables.

Evidence shows that advertising and promotion have an increasing role in the marketing process and many companies have begun to adopt the concept of an IMC, which involves coordinating the various promotional elements along with other marketing activities to communicate with a firm’s customers. IMC means focusing on the “big picture” when planning marketing and promotion programs and coordinating various communication functions.

All marketing and communication activities surrounding a product should project a consistent and unified image to the market.