MARCOM is an abbreviation of Marketing Communications. It is even spelled as marcomms. These are how the company urges, informs, and educates its customers about its brands and products directly or indirectly. Marcom uses different marketing tools and channels in combination. Marketing communication tools consist of communication, advertising, social media, direct marketing, and personal selling. Marketing Communication Channels puts its focus on how the business communicates its message to its market in general. It interacts with customers by using social media like magazines, newspapers, direct mails, radio, the internet, and television.
Marcom helps companies connect their brands with experiences, events, people, places, and emotions. It enables companies to showcase how a product works, its use cases, why is it used, who benefits from using them, and its value to the specific target audio. Marcom presents a company’s voice and its brands, enabling it to have a dialogue and build strong and healthy relationships with consumers.
Marketing Communication or Marcom has been made of marketing mix which is made up of the very famous 4Ps, i.e., PRICE, PROMOTION, PLACE, and PRODUCT, the firms which are selling goods and for the service-based business have been made up of 7Ps which are PROMOTION, PRICE, PRODUCT, PLACE, PHYSICAL EVIDENCE, PEOPLE and PROCESS. Marketing Communications consists of promotions, branding, advertising, online promotions, and campaigns, and this process allows the customers or audiences to understand the brands.
MARKETING COMMUNICATION VS MARKETING
Marketing Communication or Marcom is a subset of marketing that uses particular promotional policies to execute full marketing strategies. In contrast, Marketing refers to the inclusive term of developing strategies to satisfy and build healthy relations with customers by engaging with products and messages. Marketing is a disciple that must inform everything in the business, and Marcom determines how to communicate about what has been decided for a business relationship or value exchange.
OBJECTIVES OF MARCOM:-
Marketing communication objectives are long-term goals. Communication goals succeed when you attract customers through your consistent reinforcement that your brand has all those benefits which they want or need for their betterment. Effective marketing communication should present useful information that makes them clearly understood and make the audience believe the message is trustworthy and appealing or more appealing than competitors’ news. One should go for the brand. So some of its objectives are:-
1- To Increase Awareness:
Increasing brand awareness worldwide is not only one of the most common marketing communication objectives, but it is also typically the first for a new company; it must need a thing for a company. When you enter the market for the first time, you have to let people know about your company and products at the initial stages. About the services, it means to increase the top of mind awareness among the customers so that they choose you over any other products.
2-To motivate customers to buy: The other most crucial objective of Marcom is to influences the customers or audiences to buy your products and services, which can be done through advertisement, which will make your products more effective and superior to your competitors.
3-Changing attitudes: Sometimes, some misunderstandings and misconceptions about your company and brands develop in the market. Otherwise, cynical publics may start taking birth in the market.
Barriers of Marcom are:-
Many barriers stand in the way before accomplishing any goals. So barriers of MARCOM are:
-Lack of Resources:
A marketing campaign requires both financial and people resources, as well as time. Marketing communications require proper planning and proper management of time for the appropriate execution of movements.
-Lack of awareness:
Clients and customers are confused about the concepts, and these new technologies have broad boundaries for advertising, and their focus may drift from the principles of IMC. Sometimes clients can not grasp this IMC concept.
Work Environment:
It also affects marketing communication as a friendly environment is always needed by everyone to understand the business better and achieve its goals.
-Support of Upper Management:
Upper management support is a must be the thing for successful marketing communication. It should work to ensure that resources are available in bulk, not overburden the employees, etc.