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The overall task in MKT570 is based around two aspects. First, that each student can develop a theoretical understanding of the underlying principles of Integrated Marketing Communications (IMC)....

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The overall task in MKT570 is based around two aspects. First, that each student can develop a theoretical understanding of the underlying principles of Integrated Marketing Communications (IMC). Second, that each student will be able to apply these principles by developing a comprehensive IMC program for a major marketing related issue faced by an organisation.


In Task 1 the focus is to conduct a brief IMC situation analysis. In this task you will develop an IMC program for one organisation.


You are to assume you are a senior account executive with M&C Saatchi (Australia) and you are pitching your approach to a potential client organisation below.


Your ultimate task throughout this subject by Assessment 4 is to develop a new IMC pitch for onlyoneof the following cases:


(a) Commonwealth Bank of Australia - to address the adverse publicity and reputational damage from the Banking Royal Commission in 2018 or;

(b) The Australian Medical Association – to seek to ban the advertising of junk food and sugary drinks to children and to introduce a tax on sugar or;

(c) AMP – to address the adverse publicity and reputational damage from the Banking Royal Commission in 2018.

  1. Alternatively, you can choose an organisation you work for. However, you must be able to identify an important IMC marketing related issue faced by that organisation that could affect the strategic positioning of that organisation in the marketplace.


So, choose either the Commonwealth Bank or the AMA or AMP or your own organisation and address the following topics:


  • Find out as much as you can about the issues faced and the organisation and then undertake a brief IMC situation analysis of the issues surrounding your chosen case, considering the major stakeholders (e.g. influence on customers, employees, supply chain (i.e. say in the case of AMP this would include financial advisors)), government, etc.);
  • What factors have contributed to the present situation?
  • What concerns are likely to be driving each of the stakeholders that would need to be considered for an IMC program?
  • Briefly discuss how IMC has been utilised to date in dealing with this issue.


Ensure you define IMC using theory and research (to support your opinion) and then discuss its application using the organisation chosen and explaining how it has worked in your own words. Remember, this is an academic writing exercise. It is essential that your work is strongly underpinned by solid research, demonstrated understanding and application of marketing communications concepts.

The table below is taken from the Belch Text (p33) and provides an overview of the IMC program and is the general approach taken in this subject to product an IMC plan. I understand that in the early part of this course it is going to be a challenge to research the issues but as you proceed the ‘fog’ should lift as you become more familiar with the case.


Answered Same Day Jul 29, 2020 MKT570 Charles Sturt University

Solution

Sanchita answered on Aug 05 2020
130 Votes
3
Integrated Marketing Communication
CommonWealth Banks of Australia
Table of Content
Background.........................................................................................................................3
Situation Analysis................................................................................................................4
IMC strategy.......................................................................................................................5
Reference............................................................................................................................7
Background
The Common wealth bank underwent a major financial and reputational crisis as the recently formed Royal Banking Commission has started string of investigation to probe the involvement of bank in any kind of fraudulent activities or malpractices that are in complete violation of the banking codes and ethics. Commonwealth Bank of Australia is one of the most powerful banks of Australia. Since its inception in 1911, it has become one of the most significant and consistent banks of Australia. The bank provides a
ay of financial services and products that includes money lending, depositing, loan, insurances and providing financial advices to customers
However despite having such strong product and service portfolio and a sound market share, the bank has recently come under extreme scrutiny as the newly enacted Royal Banking commission has lambasted bank and its senior officers on account of many fraudulent and suspicious activities such as fraud, deception, money laundering that has heavily tarnished the image of the bank. Because of such extreme negative publicity and badwill that has been generated in the due process, the bank is facing major crisis as consumer as well as investor trust has been shaken profoundly.
Integrated Marketing Communication is a concept that ensures that communication and messages go hand in hand (Schultz, 1992). The organisation is facing difficulty dealing with the negative
and image and the investor’s confidence that has been shaken. The organization needs to reinforce its marketing as well as promotional strategy so that it can properly communicate with its customers as it is imperative to maintain good and positive customer engagement.
Situation Analysis
The cu
ent situation of the organisation is pretty bad as there are lot of factors that are not working in its favour. The customer reliance on the organization has shaken and there is fear that stakeholders might lose trust as the communication between the bank and the shareholders...
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