Mass & Direct Communication in Market Strategy - Research Paper Example

Download file to see previous pages Marketing strategy and communication tools become the most important ingredients of the business strategy that helps to promote business in the cut that-throatonment.
In the past, the 4Ps (product, price, place and promotion) of marketing strategy were highly relevant mainly because of the three reasons: There was lack of variety within the products; people were exposed to limited means of publicity, and promotional activities were more localilocalizedtz. Therefore, under the given restrained parameters, the strategy satisfied both the customers and the retailers. But the fast advancing technology and rapid globalization has dramatically changed the dynamics of the business. In the contemporary times, the technological advancements have brought forth an explosion of information that is easily accessible to the public through the internet and other media like television, radio, mobile phones etc. The customer has become much more informed and has been provided him with more options within the similar product lines, but produced by different companies.
Indeed, the internet has made it easy for the customers to become aware of the product details including its availability at competitive prices which has precipitated the need to develop a whole new perspective for a new marketing technique. Integrated marketing communication therefore, becomes the most vital part of market strategy for all organizations to maintain a competitive edge over their rivals. The inter-dependence of the various elements within the system has vast potential to establish a market that is sustainable as well as mutually satisfying.
Kotler has defined IMC as ‘the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent and compelling message about the organisation and its products’. ...Download file to see next pagesRead More