What exactly do you understand with Marketing and Communication? Is it just another a Selling activity or a Marketing strategy? Let us have a quick hand information in my blog below.
Marketing and Communication, or Marcom is an integration of all Marcom tools and sources within a company into a seamless program which maximizes the impact on consumers and other end users at a minimal cost. It is basically the voice of the Company which Inform, Persuade and Remind the target audience. Marcom is the Mother of all Marketing and Selling activities. It is extremely important for a Marcom expert to know every possible thing of the Company which is the base of all marketing strategies. This covers up the understanding of the Brand and it’s better positioning in the defined target market along with an understanding of Human psychology and a mechanism for the Brand to create a value in the mind of people.
Now let us understand, the Myopia of Marketing. What exactly do you understand with Myopia? In literal meaning “it is the short-sightedness”. The same meaning if you apply on Marketing, its simply putting your Brand to risk from an Altitude!
Way back in 1960, Theodore Levitt coined the term “Marketing Myopia”. It is basically the short-sightedness of any marketing plan which gives no or less result in comparison to the related expense. It no more stays in introductory or growing phase, the marketing plan rather becomes a liability.
The marketing plan, therefore, should be well thought of with a relevant market research based on consumer behaviour, emotions and their experiences with another similar Brand (if any). The Marcom should be able to successfully construct a long-run marketing plan with estimated Return-On-Investment.
Let us understand it with an example.
“Horlicks”!! What do you think…. What kind of business are they in? It is a nutritional supplement in Consumer Healthcare sector, marketed and manufactured by GlaxoSmithKline.
From the marketing point of view, I would say they create “excitement and fantasies”.
Had Horlicks gone with the core business structure, they would have ended up in losing their core audience – Children!!
You give a glass of Horlicks to any child going with the core business model in mind, saying “its nutritional and ways it will help you to grow better” it will certainly not work. The same glass of Horlicks when is presented to a child asking who is the strongest in the family or in class, every child will answer yes and will certainly feel elated by consuming a glass of Horlicks.
Therefore, Marketing and Communication is all about how you see things around you and how you well you align your goals and objectives.
My next blog will speak little more about Marcom.
Till then try giving a creative touch to your next goal irrespective of your field of interest.
Cheers
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