INTRODUCTION
The word ‘communication’ is based on the Latin word meaning ‘common’. Thus, the term communication has come to mean sharing something of common use. In marketing, communication has a very important place. It is that function of marketing which is charged with the task of informing the target customer about the nature and type of the firm’s products and services, their unique benefits, uses and features as well as the price and place at which those would be available in the market-place. Marketing communication is more commonly called ‘promotion’ and constitutes one of the Ps of the marketing mix.A study of marketing communication, therefore, is a study of the promotion function of marketing. Notwithstanding the continuing debate, whether promotion is the first element of the marketing mix or the last, the fact remains that sound management of the marketing function is dependent on effective management of its promotion function. For example, in the success of the following products and services the promotion function played a role of greater importance: Hot-shot camera, Maggie 2-minute noodles, KST fans, etc. to mention only a few. Similarly, examples of the products which misfired due to faulty management of the promotion function are not far to seek.
With growing competition in the market, as well as the customers becoming better informed and more choosy, it is imperative now that marketing communications of the right kind only are made to the right group of target buyers. In order to understand how the promotion function can be managed effectively, let us begin by first taking a look at how communications work.
OBJECTIVES
At the end of this unit, you will be able to:
• outline the process of marketing communication
• identify the various promotional methods
• define advertising, personal selling, sales promotion and publicity • discuss the factors that influence a firm’s choice of the promotion mix
• explain how promotion budgets are set.
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