Marketing communications is the most integral part of Marketing Management Strategy. Those who are aware of Marketing Management as a subject know very well that marketing as a business activity is blend of 7 activities which are also known as 7 Ps.
The 7 Ps of Marketing are following:
Price, Place, Promotion, Product, People, Processes and Physical Evidence.
The last 3 Ps are applicable only if you are marketing a service; otherwise the first four Ps are enough in Marketing Mix.
Anyway, in this article we are talking about Marketing communication which is the main part of third P of marketing ie Promotion.
Some of the common methods applied for promoting a business product or service and to be more precise the methods of Marketing Communications are following:
1.) Television Advertising: This method is meant for promoting a product or service on television. In this method the advertisements are shown in the breaks of popular programs. Although, the advertisements are often considered irritating, yet because the program broadcasted on television is watched by millions so even 10 percent positive impression is positive.
2.) Print Advertising: There are many popular Newspapers and Magazines. Advertising in the relevant part of a relevant magazine can work in favor of the product or service, as more than often people associate the advertisement with the reputation of the Newspaper or Magazine. However, the major drawback about this style is that if the reader doesn’t like the article in the newspaper or magazine he may end up hating the advertised product as well. Furthermore, the shelf life of Newspaper and magazine is limited and once the new edition comes in, it becomes highly unlikely that people will turn back the pages of old edition to check your advertisement.
3.) Sponsorship: Sometimes companies also engage in sponsoring a complete event, sports team or television program. The sponsorship of IPL team, Delhi Daredevils by GMR is a relevant example.
4.) Charity: Organizations often engage in charity events. Although, it may seem like a loss making venture but it creates positive image and people get inspired to associate with the product or services. The charity works done by Birla’s has always helped them in branding themselves as people friendly business house.
5.) Education: There are many corporate houses who are owner of educational institutions. People who are associated with these institutions are indirect brand ambassadors of the business. Besides Education Business , the corporate houses are also involved in offering scholarships to successful students and scholars.
6.) Gimmicks: Offering free service or product has often worked and even the petty businessmen are aware of this trick. However, too much gimmick marketing can result in brand dilution as people may start considering the reduced prices as real cost for the product.
