Marketing Communication Functions

Question: How Supporting Marketing Communication Functions Will be Utilized to Maximize Effectiveness? Answer: How Supporting Marketing Communication Functions Will Be Utilized To Maximize Effectiveness At Toys R US it is our critical goal to eradicate interference of emerging informational technology gadgets such as mobile phones and television games and maximize our business returns. In our Integrated Marketing Communication (IMC) we are looking at all aspects of our selling activities and ensuring every area supports the next. In our marketing communication plan, we focused entirely on advertising since the company is doing well in other promotional mixes such as sales promotion and public relations. This essay serves two purposes. At first, it will show how advertising contributes to the current state of affairs of these promotional mixes. Secondly, it will provide an accounting budget for advertising at Toys R US Inc. Marketing communication functions will be used at Toys R US to streamline commodities development. For the past few decades, Toys R US has been using advertising strategies to generate products with the best opportunities of making proceeds. This is so because advertising mechanisms implemented by this organization start with conducting a thorough marketplace research, taking into consideration the level of competition, optimal target customers as well as emerging trends. The company will, therefore, use this information to determine the looked-for benefits by the buyers, and what they are willing to pay for the company toys. This way Toys R US will differentiate products from those of competitors (Kitchen, 2009). Marketing communication functions will be utilized at Toys R US to determine optimal prices for products. Information gathered from the marketing research will be used in this case to set the best prices for toys. These prices will be set in accordance with the data collected in the marketing research. If the toy buyers want a higher-end commodity in our category, our pricing plan will require us to sell our brands at prices that generate a higher-end perceived value. If we realize that our targeted customers are bargain conscious and prepared to accepts less bells and whistles on Toys R USs commodities in exchange for paying less, our pricing stratagem will impel us to sell at or beneath the competitors prices (Hodgson, Willows, European Council of International Schools., Council of International Schools, 2010). Marketing communication functions will be used at Toys R' US to establish an efficient distribution mechanism of commodities. The moment we know our brand features we shall provide, who our primary customers are, and our pricing echelons, and select the best terminals to sell our toys to optimize our marketing effectiveness. Younger buyers will most likely start their toy shopping online using smartphones, and use online-based payment schemes such as PayPal or credit cards. Their parents or older customers may prefer to buy the toys at retail shop outlets. If our market analysis discloses that we need to operate in retail to tap many clients, but we lack sales force in the region, we shall utilize distributors and wholesalers. Marketing communication functions will also be used to create the brand of the company. This includes corporate image of the business as perceived by external publics. Product development processes through advertising will prompt the general publics to expresses their views how they feel about the company and in overall the products dealt in. Information gathered in their feedback will be used develop the corporate image of Toys R US Inc. as well as its reputation (Lockhart, 2011). Besides, marketing communication functions will be utilized to bring about solidarity and teamwork at Toys R US Inc. Ideally, marketing strategies will incentivize, company departments to work collaboratively because they will all be working on the same strategy. For instance, the advertising specialists will talk to the products development personnel to decide on what message should be disseminated to the customers about the benefits they reap from the company products. Salespersons will liaise with individuals responsible for preserving the corporate image and decide whether they can offer goods at discounts, rebates or coupons without tarnishing the reputation of the firm (Jenster, Smith, Hayes, 2005). Accounting budget for advertising at Toys R US TYPE OF CAMPAIGN ANTICIPATED SUB-TOTAL Percentage Countrywide Advertising $1,000.00 3% Local Advertising $5,100.00 9% Public Relations $600.00 1% Content Advertising $12,500.00 22% Social Media platforms advertising $5,500.00 10% Online advertising $2,400.00 5% Web-based advertising $5,400.00 10% Market Analysis $3,800.00 7% Sales Campaigns $5,600.00 9% Others $2,165.00 5% $109,430.00 After determining the net annual budget for advertising, the company aims at aligning the budget with the primary marketing objectives. However, the company anticipates that the expenses will fluctuate from month to month and as such all categories listed in the budget are flexible and the allocated values will be changed depending on the prevailing economic conditions. References Hodgson, A., Willows, D., European Council Of International Schools., Council Of International Schools. (2010).Effective Marketing, Communications, and Development. Melton, Woodbridge: John Catt Educational. Jenster, P. V., Smith, D. E., Hayes, H. M. (2005).Managing Business Marketing Sales: An International Perspective. Frederiksberg: Copenhagen Business School. Kitchen, P. J. (2009).Marketing Communications: Principles And Practice. London: International Thomson Business Press. Lockhart, J. (2011).How to Market Your School: A Guide to Marketing, Communication, and Public Relations for School Administrators. Lanham, Md: Rowman Littlefield Education.