Marketing Communications

Running head : A Report on Importance of Marketing Communications

A Report on Importance of Marketing Communications

[Writer 's Name]

[Institution 's Name]

The changing market environment has given rise to the needs of updated information more than ever in the past . The markets have transformed to international from local . With the increase in the exposure to masses and increased geographical market coverage , the need of quick and up to date information has also increased . With the changing business environment the buyers are also changing . With the increasing incomes the buyers

have become more selective . For a company to launch a new product it has become important to have the information from the buyer needs to buyer wants . On the other hand it is also important to have the knowledge of how to present the product in effective manner in to reach the customer in an effective manner . With the changing business needs the new marketing techniques such as product differentiation branding and advertising are also gaining immense importance

The successful product positioning and promotion is only possible if all the required information in this lieu is gathered and used in the right direction . In to fulfill modern information needs , new information technologies have also been evolved . The information regarding the buyer preferences and behavior plays an important part in helping the management to take important decisions regarding the product such as pricing , promotion , competition etc . It is important for the company to establish a system in to acquire a large amount of information for the marketing managers

Competitive companies study their managers ' information needs and design marketing information systems (MIS ) to meets these needs . A marketing information system (MIS ) consists of people , equipment , and procedures to gather , sort , analyze , evaluate , and distribute needed timely , and accurate information to marketing decision markers

To carry out their analysis , planning , implementation , and control responsibilities marketing managers need information about developments in the marketing environment . The role of the MIS is to assess the manager 's information needs , develop the needed information , and distribute that information in a timely fashion , the information is developed through internal company records , marketing intelligence activities , marketing research , and marketing decision support analysis (Kotler , 2000

Modern marketing calls for more than developing a product , pricing it attractively and making it accessible to target customers . Companies must also communicate with present and potential stakeholders , and with general public . The marketing communication mix consists of five major modes of communication : Advertising , sales promotion , public relations and publicity , personal selling , and direct marketing

Companies must consider several factors in developing their promotion mix type of product market , whether to use push or pull strategy consumer readiness to make a purchase , stage in the product life cycle and the company 's market rank . In case of our company as the target audience is between 18-25 years advertising can be the most suitable communication mix . Advertising can perform the following functions in the business markets

Awareness building : Advertising can provide an...