Answer to Question #160355 in Management for Prince

Question #160355


a) Nature of marketing communication ( please give at least 10 points for nature)

b)Scope of marketing communication ( please give at least 10 points for scope)

Expert's answer

Part A

  1. Marketing communication is based on one critical facet –– persuading the business’s target market that customers feel passionate regarding what the company offers.
  2. Without effective marketing communication, prospective consumers may not hear about the business’s services or products. This could bring about missed sales prospects and revenues.
  3. The three necessary forms of marketing communication consist of educational, influential and aide-memoire tactics. Educational communication techniques aid prospective consumers concerning the features and benefits of the business’s product or services.
  4. Influential forms of communication are employed to change a customer’s conduct or inspire them to purchase what the business provides.
  5. Reminder marketing aids the business to keep in contact with potential purchasers and clientele to support them in remembering the company’s goods or services when they feel ready to purchase.
  6. Most marketing strategies employ marketing communication to attain clear and precise objectives. One essential purpose might emphasize on recognizing the target market for the company’s products or services.
  7. Another critical objective may concentrate on finding effective techniques to encourage or change a potential consumer’s attitude regarding their contributions to buy and use them.
  8. The business’s objective may be to employ communications to inspire purchasers to become more devoted to the brand instead of switching to a rival’s products or services.
  9. Developing the company’s marketing communication approach necessitates searching the key influences that impact its promotional mix.
  10. A key influence is the business’s target market; thus, it is essential to learn everything it can regarding the individuals who comprise it, for instance, the number of prospective consumers, their locality and level of income.
  11. The form of product the business sells and whether it requires recurrent servicing is another aspect to reflect on.
  12. Suppose the business’s products have been on the market for a while. In that case, the marketing team should determine which tools are sufficient to change projections to consumers versus a new product or service that necessitates lots of valuable data to instruct individuals.

Part B

  1. Marketing communication operates in a marketing context. Conventionally recognized as the persuasive constituent of the four Ps of marketing (Product, Promotion, Place, and Price), marketing communication's key objective is to influence and reach a clear audience and influence its conduct by educating, encouraging, and prompting.
  2. Marketing communication attains new consumers for trademarks by creating awareness and reassuring initial market trials. Marketing communication also preserves a product's existing consumer base by strengthening their buying conduct by delivering additional information regarding the trademark's benefits.
  3. A secondary objective of marketing communication is creating and strengthening association with consumers, prospects, merchants, and other significant shareholders.
  4. The learning of marketing communication in management studies is attaining a lot of consideration these days since it formulates marketing experts for a more comprehensive commitment to the scientific changes occurring within the global market.
  5. Marketing Communication has extensive scope for the graduates from the fields of, Economics, Commerce, Management, Communication, and Social Sciences.
  6. Effective marketing communication depends on an amalgamation of possibilities termed the promotional mix. These opportunities consist of publicity, personal selling, public relations, direct marketing, and sales promotion.
  7. The internet has changed into an influential tool for reaching various significant audiences. The duty of each component that occurs in a marketing communication program depends partially on whether a business uses a pull approach or a push policy.
  8. A pull approach depends heavily on customer demand than individual retailing for the product to move from the producer to the purchaser. The demand produced by marketing, sales promotion, and public relations "pulls" the goods or services via supply networks. A push approach, in contrast, stresses individual selling to push the product via these networks.
  9. The scope of marketing communication is remarkable. It provides an excellent prospect to communication intellectuals having a noble comprehension of administration and marketing mix.
  10. One must acknowledge the key specifics of the marketing mix—the service, product, or notion itself; the value upon which the business will provide the product; and the locations at or via which consumers may acquire the trademark. The best advertising cannot overwhelm poor product value, extremely high costs, or inadequate marketing supply.

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