Marketing communications defined by the actions a firm takes to communicate with end-users, consumers and external parties. The simple definition of marketing communication is "the means by which a supplier of goods, services, values and/or ideas represent themselves to their target audience with the goal of stimulating dialog leading to better commercial or other relationships". Marcoms is a frequently used short-form for marketing communications. Marketing communications can be seen as a part of the promotional mix, as the exact nature of how to apply marketing communications depends on the nature of the product in question. Accordingly, a given product would require a unique communications mix, in order to convey successfully information to consumers. Some products may require a stronger emphasis on personal sales, while others may need more focus on advertising.
The process in which the differing modes of marketing communications are complemented and synthesised is called integrated marketing communications (IMC). It is used in order to create a single and coherent marketing communications process. As an example, a firm can advertise the existence of a sales promotion, via a newspaper, magazine, TV, radio, etc. The same promotion can also be communicated via direct marketing, or personal selling. The aim of IMC is to lessen confusion among a product's target market, and to lessen cost for the firm. Several different subsets of marketing communications can be distinguished.
Personal selling
Oral presentation given by a salesperson who approaches individuals or a group of potential customers. Personal selling is often used in business to business (,i.e. "B2B") settings, in addition to business to consumer (,i.e. "B2C") scenarios in which a personal and face to face medium is required for the communication of the product. In B2B situations, personal selling is preferred if the product is technical in nature. Personal selling can compose of the use of presentations, in order to convey the benefits of a firm's good/service. In B2C settings, personal selling is utilised if the product requires to be tailored to the unique needs of an individual. Examples of this include car (and other vehicle) sales, financial services (such as insurance or investment), etc. Personal selling involves the following points:
* Live, interactive relationship
* Personal interest
* Attention and response
* Interesting presentation
* Clear and thorough.
Sales promotion
Short-term incentives to encourage buying of products.
* Instant appeal
* Anxiety to sell
An example is coupons or a sale. People are given an incentive to buy, but this does not build customer loyalty or encourage future repeat buys. A major drawback of sales promotion is that it is easily copied by competition. It cannot be used as a sustainable source of differentiation. Sales promotions are typically used to heighten sales/revenue, especially if a firm holds dead/excess stock, or if the market for a product has matured.
Public relations
Public Relations (or PR, as an acronym) is the use of media tools by a firm in order to promote goodwill from an organization to a target market segment, or other consumers of a firm's good/service. PR stems from the fact that a firm cannot seek to antagonize or inflame its market base, due to incurring a lessened demand for its good/service. Organizations undertake PR in order to assure consumers, and to forestall negative perceptions towards it. PR can span:
* Interviews
* Speeches/Presentations
* Corporate literature, such as financial statements, brochures, etc.
Publicity
Publicity involves attaining space in media, without having to pay directly for such coverage. As an example, an organization may have the launch of a new product covered by a newspaper or TV news segment. This benefits the firm in question since it is making consumers aware of its product, without necessarily paying a newspaper or television station to cover the event.
Advertising
Advertising occurs when a firm directly pays a media channel to publicize its product. Common examples of this include TV and radio adverts, billboards, branding, sponsorship, etc.
Direct marketing
Direct marketing is a process where a firm uses communication channels to attain and retain consumers for its product. It is a comparatively new mode of marketing communications (when compared with forms such as advertising, sales promotions, personal selling, etc.) Direct marketing involves carefully seeking out persons within a target market, and communicating to them about the nature of a product. This process is signified by brochures sent via the mail, e-mails from companies, etc. It can also constitute the use of telemarketing, in order to communicate with a target market.
The process in which the differing modes of marketing communications are complemented and synthesised is called integrated marketing communications (IMC). It is used in order to create a single and coherent marketing communications process. As an example, a firm can advertise the existence of a sales promotion, via a newspaper, magazine, TV, radio, etc. The same promotion can also be communicated via direct marketing, or personal selling. The aim of IMC is to lessen confusion among a product's target market, and to lessen cost for the firm. Several different subsets of marketing communications can be distinguished.
Personal selling
Oral presentation given by a salesperson who approaches individuals or a group of potential customers. Personal selling is often used in business to business (,i.e. "B2B") settings, in addition to business to consumer (,i.e. "B2C") scenarios in which a personal and face to face medium is required for the communication of the product. In B2B situations, personal selling is preferred if the product is technical in nature. Personal selling can compose of the use of presentations, in order to convey the benefits of a firm's good/service. In B2C settings, personal selling is utilised if the product requires to be tailored to the unique needs of an individual. Examples of this include car (and other vehicle) sales, financial services (such as insurance or investment), etc. Personal selling involves the following points:
* Live, interactive relationship
* Personal interest
* Attention and response
* Interesting presentation
* Clear and thorough.
Sales promotion
Short-term incentives to encourage buying of products.
* Instant appeal
* Anxiety to sell
An example is coupons or a sale. People are given an incentive to buy, but this does not build customer loyalty or encourage future repeat buys. A major drawback of sales promotion is that it is easily copied by competition. It cannot be used as a sustainable source of differentiation. Sales promotions are typically used to heighten sales/revenue, especially if a firm holds dead/excess stock, or if the market for a product has matured.
Public relations
Public Relations (or PR, as an acronym) is the use of media tools by a firm in order to promote goodwill from an organization to a target market segment, or other consumers of a firm's good/service. PR stems from the fact that a firm cannot seek to antagonize or inflame its market base, due to incurring a lessened demand for its good/service. Organizations undertake PR in order to assure consumers, and to forestall negative perceptions towards it. PR can span:
* Interviews
* Speeches/Presentations
* Corporate literature, such as financial statements, brochures, etc.
Publicity
Publicity involves attaining space in media, without having to pay directly for such coverage. As an example, an organization may have the launch of a new product covered by a newspaper or TV news segment. This benefits the firm in question since it is making consumers aware of its product, without necessarily paying a newspaper or television station to cover the event.
Advertising
Advertising occurs when a firm directly pays a media channel to publicize its product. Common examples of this include TV and radio adverts, billboards, branding, sponsorship, etc.
Direct marketing
Direct marketing is a process where a firm uses communication channels to attain and retain consumers for its product. It is a comparatively new mode of marketing communications (when compared with forms such as advertising, sales promotions, personal selling, etc.) Direct marketing involves carefully seeking out persons within a target market, and communicating to them about the nature of a product. This process is signified by brochures sent via the mail, e-mails from companies, etc. It can also constitute the use of telemarketing, in order to communicate with a target market.