Integrated Marketing Communications (IMC): Strategies & Tools
Integrated Marketing Communications (IMC)
Concept and Utility
IMC is a holistic approach to marketing communications that strategically aligns various disciplines to deliver clear, consistent, and impactful messaging. By integrating brand-appropriate communication across channels, IMC maximizes reach and effectiveness.
Tools of IMC
- Advertising: Paid communication through mass media to inform, persuade, and influence consumer behavior.
- Promotion: Short-term incentives to boost sales and gain a competitive
Business Studies Glossary
Terms | Meaning |
Acid Test Ratio | This ratio measures a business’s cash flow. Its formula is: (Current Assets – Closing Stock) / Current LiabilitiesIdeally, the ratio should be 1:1, indicating that for every euro due in the short term, there is one euro available to cover it. |
Acquisition | The overall term for acquiring another business through purchase. For example, Lone Star Funds’ purchase of Jurys Inn for €911m. |
Advertising | Communicating information about a product or service to the public to promote |
Business Administration: Key Concepts and Processes
GENERAL THEORY OF SYSTEMS
To effectively meet community needs, a company must establish relationships with various individuals, institutions, and other companies.
MANAGEMENT AND ADMINISTRATIVE PROCESS
Management is a continuous and systematic process aimed at achieving goals through the coordinated efforts of individuals. This involves defining objectives, determining methods, implementing actions, and evaluating effectiveness.
The administrator’s primary responsibility is to efficiently utilize the
Read MoreConsolidation Accounting: A Comprehensive Guide
Consolidation Notes
Step 2 BCVR Entries
| Not sold | If Sold – Current Year | If Sold – Prior Year | ||||||
|---|---|---|---|---|---|---|---|---|
| DR Asset | CR BCVR | CR DTL | Inventory: | DR COGS | CR ITE | No entry here – BCVR | ||
| CR BCVR | DR Accum.D(Cost –Carry Amount) | CR Asset | NCA: | DR CA ofAsset CR ITE | CR Transfer from BCVR** | transferred to RE (Step 3) | ||
| CR DTL | CR Asset | CR DTL CR BCVR | If Impairment | DR Retained Earnings | Cr Accum impairment brands | No entry here – BCVR transferred to RE (Step 3) | ||
| Deferred taxed Liability | Retained | |||||||
The Art of Decision Making in Management
Decision Making in Management
The most crucial responsibility of a manager is making decisions. The decision-making process is a significant undertaking for administrators.
The Importance of Decisions
Organizational decision-making involves individuals collaborating on a project. It begins with a selection decision, which holds immense importance.
Decisions are often considered the engine of business, as the success of any organization heavily relies on choosing the right alternatives.
Managers constantly
Read MoreSales Force Management: Recruitment, Selection, and Supervision
Sales Force Acquisition: Analyzing Workforce Needs
Effective sales force acquisition begins with a thorough analysis of the company’s workforce needs. This involves understanding the business requirements and defining the roles and responsibilities of each position.
Job Description and Job Specification
A clear and concise job description outlines the objectives, expected results, relationships, and duties of a specific role. The job specification, on the other hand, details the necessary qualifications,
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