According to modern view, marketing consists of sensing, stimulating, servicing and satisfying the needs and wants of present and potential customers in more effective and efficient manner than its competitors. …
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According to modern view, marketing consists of sensing, stimulating, servicing and satisfying the needs and wants of present and potential customers in more effective and efficient manner than its competitors. The modern concept of marketing communication holds that the key task of organization is to determine the needs, wants and values of the customers and to adopt the organization to delivering the desired satisfaction more effectively and efficiently than its competitors. There are two key elements in this marketing communication concept.Competitiveness in business the world over is so acute that survival is possible for only those organizations, which are ready to employ every possible means to increase profit by reducing cost in production, while remaining uncompromising in quality and aggressive in marketing. The role of marketing communication in modern business practices has been identified as a key factor in survival in modern day business. As part of the search for business effectiveness the entire process of marketing communication is being approached in a comprehensive and unified manner where by all activities of business communication functions in unison. This approach is called Integrated Marketing Communication. This is a relatively new concept in management. It is engineered to harness all aspects of marketing communication such as advertising, promotion of sales, public relation, and direct marketing in a highly focused manner eschewing the former tendency of these departments to function in isolation. The account of the phenomenon of Marketing Communication by Aaker, Batra and Myers (1992) constitutes a fair working explanation of the phenomenon: . . . advertising and sales promotions operate together in their impact on the consumer. When designed and run in tandem, they yield power synergies that magnify their individual effects.
The ambiguity centered on the definition of IMC has created complexity in assessing the operational efficiency of the process. There are many levels of integration, which produces problems collectively as well as individually. The ideal execution of IMC calls for the sharing of the entire organization.
Available Mix Of Advertisement And Communication Methods
Advertising is a very complex business. To make the advertisement to go on with the changing time new advertising and modern promotional methods needs to be assessed and compared with traditional available methods. New innovative ideas and media methods uses are to be devised all the time, as the advertising industry switches emphasis from media to media, and as new modern lifestyle trends continuously to develop by new technologies.
Traditional and modern view of Advertisement
In 1980's and 1990's advertising agencies were commonly 'multi-services' agencies, and they divide their area of operations to handle the creative, production and media-buying processes. There was a huge trend towards junk mail or direct mail and many large consumer brands switched significant advertising spending into direct mail. For small local businesses TV was an increasingly attractive tool.
Modern lifestyle and technology developments change the marketing communication and advertisement methods of companies. New method of advertising based on exploiting electronic communications and the 'word of mouth' instinct sometimes referred to as 'Viral marketing'. In today's world Internet advertising is more popular than radio advertising -
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