Importance of Marketing Communications

Importance of Marketing Communications

Introduction

Globalization has affected markets in many ways. First of all, there is a huge competition in the market. Moreover, a standard set of patterns are to be followed by all the competitors in the market in various marketing and management aspects. Hence, if a company has to achieve a strong market position, it has to stay updates with all the current trends in various areas of marketing and management. Therefore, to stay in the competition in the market, it is important for all the companies to work out an affective and updated marketing framework. The four most important factors in marketing include the price, place, promotion, and product. All of these factors hold their individual importance. However, the most taken care aspect in current times is the “promotion” of the product that can further be classified in various different areas.

Discussion

Known as Integrated Marketing Communications or MarCom is a practice that involves companies and firms communicating to the market through messages and various different medium of the media. Moreover, individuals who caters with a number of other practices that includes branding, brand language, advertising, public relations, sales, sponsorship, sales promotion, packaging, graphic design, online marketing etc by approaching or using TV, radio or internet to communicate with their audience are known as Communicators (Smith, 2011).

Importance of Marketing Communication in the Field of Marketing and Promotion

The attention that this field now enjoys has also given it a chance to evolve up to great extent. Therefore, companies throughout the globe use these practices of constantly analyzing, planning, implicating, evaluating, and controlling the use of this field to maintain the customer-brand relationship. Investing in the marketing communications benefits an organization in a number of ways that includes,

Launching a New Product or Service

Many businesses and fields in current times that include mobile manufacturing companies and other branches of electronic appliances regularly launch new products and versions in the market. Marketing communications plays a very important role for businesses of such nature. Since, customers in present times have a wide range of alternate choices available for products of varying nature, these companies must adapt useful strategies to establish and create a decent first impression of the newly introduced product. The companies need to make sure the message they are communicating is relevant to the product and the target market (smallbusiness.chron.com).

Modifying or Updated any Existing Product or Service

There are many occasions when companies decide to revise any basic characteristic of any already established product or service. For example, a boutique or clothing brand announcing the sale season at the end of summer season or an electronic company modifying any particular feature or application of the same appliance etc. These are also the perfect occasions when a company needs to adapt effectively communicate the information of the product to the markets and customers .

Prevent Communication Barrier

A company also needs to promote and advertise its overall image as well. For example, highlighting the past achievements, current acknowledgment ...