Effectiveness of Marketing Communication Strategies and Technologies - Term Paper Example

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Effectiveness of Marketing Communication Strategies and Technologies

It is evident from the study that a well-designed and thoroughly crafted marketing communication strategy can provide a definite competitive advantage to an organization. If we look at the prevailing corporate scenario, we can conclude very amicably that there are numerous instances where a certain product failed because it was introduced in the market through an ineffective marketing strategy. The Russian automobile products are the classic examples in this regard. They fail in the market just because of their weak marketing communication strategies. It is very essential to understand the dynamics of a market in which the proposed marketing strategy is going to be launched. According to Joshi and Hanssens, marketing communication does not only contribute towards the maximization of organization’s profit but it also creates awareness among the masses regarding the choice of available products. So an effective market communication strategy can benefit the manufacturers as well as the consumers. Every marketing strategy should involve the meticulous comprehension and research regarding the internal and external environment. According to Jackie and Sudhir, the internal environment denotes the price, product, promotion and place (marketing mix). The external environment refers towards the evaluation of multifarious factors like market and competitor analysis. Some other factors like social, technological and economic conditions also fall in the domain of external environment study. Any successful marketing strategy should incorporate these aspects to achieve the optimum success. ...Show more

Summary

The researcher of the paper states that marketing communication denotes the planned activity of disseminating certain information to a target audience in order to create a favorable and receptive scenario for certain a product, service or idea…
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