Integrated marketing communication and the developing marketing technologies for small business
Small businesses are considered the backbone of the American economy. Every year small business owners struggle with marketing their business and 80% fail within two years (Anderson). With intense competition in every industry, one of the main reasons small businesses fail is the lack of planning and preparation, particularly with marketing, advertising, and social media. Often, small businesses neglect planning for these important decision areas starting their business, which can then lead to failure. A new marketing practice known as Integrated Marketing Communication (IMC) is a widely used strategic planning tool for communication decisions in small businesses. The IMC model is based on the principle that all forms of marketing and communication, including advertising, sales promotion, and social media, should have the same voice and same objective in order to be effective. In this thesis, I will analyze the various aspects of IMC, including advertising, social media, and other developing marketing techniques, from a small business’s perspective. In doing so, I will provide an overview of marketing and communication strategies relevant for small businesses to improve their marketing and communication activities to build brand equity and market share.