What is Marketing Communications?
Marketing communications, often referred to as MarCom, is a fundamental component of a business’ overall marketing efforts. It consists of the messages and media your business utilizes to communicate with its market.
Marketing Communications are the different means that businesses utilize to convey messages and information about their brands, products, or services to inform and persuade their market towards a purchasing decision. Marketing Communications consists of a variety of tools.
What are Marketing Communications objectives?
The four main objectives are:
~ To create demand
~ To sustain demand
~ To drive preference for a brand, product or service
~ To reduce the sales cycle
How does Marketing Communications differ from Marketing?
The terms Marketing Communications and Marketing are often used interchangeably; yet they are not the same. Marketing is the overall umbrella for developing strategies to address customer needs with products, services, and messages. Marketing communications is a subset of this and focuses on specific promotional tactics to implement the marketing strategies.
What is Marketing Communications strategy?
It is used by businesses to reach their respective market through various channels of communication. The strategy includes the actual message(what is being said), the medium or channel (where the message is being said), and the target (who the business is reaching with the message and via the medium).
To develop an effective Marketing Communications strategy, a business first needs to learn and understand its target market. For some businesses, the target market requires further segmentation by demographics, geography, behavioral traits, or psychographics, to communicate effectively. The Marketing Communications strategy is derived from, aligns with, and supports the overall Marketing strategy.
What are the different types of Marketing Communications?
There are many different types ranging from Branding, Packaging and Print Materials, Online Presence including Website, Social Media and more, Advertising, Sales Promotion, Trade Shows, Events and Sponsorships, Public Relations and Publicity, Direct Marketing, Interactive Marketing, Referral or Word-of-Mouth Marketing, and Personal Selling. Collectively, these are referred to as the Marketing Communications Mix. A business can use only the ones that are necessary to inform and market their brand, products, and services.