What is the meaning of marketing communication? What does MarCom stand for?

Concept of Marketing Communication

Marketing communication means putting your ideas forth and conveying something through a mode or channel of marketing to the masses. It refers to the messages and related media that are used to communicate and therefore it is the promotion part of the "marketing mix". That means the "four Ps": product, place, price and promotion. Marketing communication also means the strategy which is used by a company to reach their target market through various modes of communication.

Marketing communication is done by the individuals or companies who are largely into advertising, sponsorship, public relations, branding, promotion, publicity, sales, direct marketing, graphic designing, packaging sales promotion and online marketing. They are also called marketing communication managers, marketing communicators or more briefly, MarCom managers.

What are the different Marketing Communication platforms?

Social Media

Social media marketing has been on the rise for a while now. It has been gaining popularity primarily due to increased access to internet across the globe and marketers have realized that they must harness this potential. It includes various platforms like Facebook, Vimeo, youtube, instagram, whatsapp etc. with increase in handheld devices it is an absolute necessity for organisations to invest in a platform that keeps the connect with customers 24/7. The online medium is very effective to know who is interested in your offering and worth pursuing as a prospective client. On the basis of their likes and dislikes (judging by the way they react to your advertisement profiling can be done to understand the target market.

Email

Email marketing is direct marketing tool wherein a commercial message is sent to a group of people via email. It is called email marketing where every mail sent to a customer is commercial. It is meant to build loyalty, trust, or brand awareness using email to send ads, request business. This is an effective way because it can give the customer a sense of personal connect and make him respond soon.

Branding

Branding in the simplest of terms means to establish the brand name of the company in the minds of the customers through brand touch points or brand contact points. It includes all sorts of advertisements mediums right from television to events, webinars and personal selling.
Branding is a very important tool when it comes to marketing. For example: Starbucks is a brand. Customers might as well drink coffee from a local coffee shop or stall for $2 - 4. Why spend that extra amount for a cup of coffee in StarBucks? It is because it is a brand. This is branding. It sets an impression on the minds of the customers that the Starbucks experience is a premium one.
Also read :-Brand Equity: Advantages of Strong Brand Equity

Importance of Marketing Communication

• Customer Preference – Through the advertisements and branding activities the company can target the segment of customers that it wishes to sell to or think are the most suitable for their offering.
• Developing Strategic Vision- To develop a mission and vision statement and then communicate it well to the public.
• Creating Brand Awareness- branding and brand image comes under this which is again done through proper communication.
• Fostering Goodwill- Goodwill is fostered through proper marketing communication. When the company is able to make people believe that the products and services it provides are of the best of qualities and there is a trust and loyalty built , goodwill is immediately created and fostered.
  Example : Apple phones and laptops have a goodwill because its under the apple brand. So there is a trust and sense of loyalty towards the customers.
• Attracting Talent- Attracting talent is a must for every growing company and therefore the role of communication is to make sure that the best talent is hired.
• Informing Investment Community- Keeping the investors informed is a very important part of marketing communication. So, the companies and business houses print the news releases out about the output, profits, sales and all the milestones reached. They also announce major events :
  1. Introduction of new products
  2. Acquisitions
  3. Join ventures
  4. Merger
  5. Expansion
  To keep the investors happy, the company needs to communicate well and clearly as well as maintain the standards they have held and promised to its customers.

Read More:
Difference Between Marketing and Selling
What is The Brand Management Process
Basics of Product Management in Marketing
9 CRM Features and Why you Need Them

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