Comprehensive Analysis of Marketing and Communication Strategies

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This report provides a detailed analysis of marketing and communication strategies, focusing on the marketing mix (Product, Price, Place, Promotion) and the communication mix (personal selling, public relations, advertising, sales promotion, and direct marketing). It explains how companies use social media channels like Snapchat, Facebook, LinkedIn, and Twitter as part of their communication strategies, providing examples of how brands leverage these platforms. The report also discusses the effectiveness of digital networking in engaging with targeted audiences and gathering customer feedback. The analysis concludes that online marketing, through the effective use of marketing and communication mixes, is crucial for business success.
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Business
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Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Description and discussion of the Marketing mix with examples...............................................1
Description and discussion of the key elements of the communications mix with examples.....2
PART 2............................................................................................................................................4
Explanation of how each of the social media channels are used as part of a brands’ or
company’s communications strategy (using examples)..............................................................4
An explanation of why I think the social media content is effective...........................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
The "efficacy of online advertising" would be carefully addressed in the current document
(Barnes and Watson, 2019). The term "marketing mix" and instances from this study would be
examined for this aim. In addition, the "communication mix's" fundamental components would
be discussed with the aid of illustrations. The importance of various "digital networking sites like
LinkedIn, Facebook, Twitter and Snapchat" in the organization's communicating plan would be
discussed.
PART 1
Description and discussion of the Marketing mix with examples
In principle, "marketing mix" refers to a collection of actions employed by businesses to
promote their goods, brands, and offerings. The 4 components of it are "Product, Price, Place,
and Promotion." The primary benefit of this method would be that it aids company management
in understanding what its operations or goods would give to clients. In addition, it helps
executives create strategic planning so companies "could fight with potential competitors or
adversaries in the marketplace" and optimize overall earnings or profit levels. Underneath are,
the key components of the marketing mix which are concisely described:
Product: Broadly stated, a "product" is any item or commodity that is provided to clients
in return for revenue in order to meet or fulfill its changing wants or desires. Examples of
these kind of items include vehicles, restaurants, and electronics products. The business
must successfully market the advantages its item would provide to clients if it wants to
grow its client market. This tactic would inevitably bring in more clients for the item,
increasing revenues of the firm's activities or goods that would raise their profit levels
(Brondoni, 2018). For instance, Asda offers a beverage that promotes body growth.
Rather than focusing on lower prices and similar items, companies are successfully
publicising the advantages of their innovative items that they would provide to buyers.
Price: It is yet another crucial component of the "advertising strategy." Price is the sum
that buyers are prepared to spend on the activities and goods provided by businesses.
Companies must take into account factors such as item production costs, competitive
pricing points, established brand values, and more when determining the pricing of their
goods or offerings. A gracious or acceptable pricing would enable the groups maintain
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their competitiveness and generate enough income to support performance and
sustainability. For instance, Next Plc reduces the cost of innovative items when it
introduces goods in the industry in attempt to draw clients and boost sales of the novel
item. This helps the innovative commodity achieve a sustainable competitive advantage.
Place: Another component of the "marketing mix" is place. Broadly stated, "place"
relates to the location wherein businesses transfer services and goods for payment with
clients. The businesses have 2 main channels via which they can market and offer
respective goods and facilities: online e-commerce platforms and traditional venues like
storefronts. For the company to optimize its earnings or profit levels, providing the
activities and goods at the proper area or position is crucial for boosting the industry
desire for the goods. For instance, Sainsbury offered its goods and operations via both
their real or digital storefronts in the sector and their corporate online in an effort to
improve revenue (Heirati and Siahtiri, 2019).
Promotion: It is another component of the "advertising strategy." Organizations utilise
this method to effectively convey to their targeted customers the advantages and qualities
of respective offerings and goods. Increasing the accessibility of the activities and goods
in the industry is crucial. For instance, Unilever employs internet advertising, magazine
advertisements, and other strategies to sell the merits or perks of business goods and
items. It enables businesses to draw in more clients from the industry.
Description and discussion of the key elements of the communications mix with examples
Following are the key components or metrics of the communication mix:
Personal selling: One further important component of the "communication mix" is
personal selling. "Marketing wherein a salesman strives to persuade to encourage a
customer to acquire their goods" is referred to as "personal selling." It is a technique for
marketing in which a salesperson "tries to complete a transaction" by using their skills
and capabilities. Selling directly promotes boost communication and engagement
amongst purchasers and vendors that makes it easier for businesses to comprehend the
requirements and wishes of their customers. By meeting their wants, customers would
undoubtedly placed additional purchases, increasing the corporation's ability to make a
sufficient revenue (Möller and Halinen, 2017).
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Public relations: It is yet another crucial component of the "communication mix." It is
described as an "efficient communications method which assists organisations and their
consumers in developing relationships which are profitable to both parties." A firm that
offers higher standard items at competitive prices could use public relations this means
that consumers would communicate favourably about the business's items or activities as
it creates a pattern and encourages everyone to follow suit. The customer and vendor's
communications would improve through connecting and conversing constructively. As an
illustration, Sainsbury undertakes questionnaires to gather input from clients in order to
enhance contact with all of them and, in turn, the effectiveness of its operations and
goods.
Advertising: One of the fundamental components of the "communication mix" is
advertisement (Pieroni, McAloone and Pigosso, 2019). Advertisement is a broad term for
marketing activities which assist businesses in promoting their products, brands, or
organisations to a specific demographic in an effort to increase awareness, engagement,
profitability, and revenue. It is one of the most popular and efficient types of
communications mix and enables a company's understanding of its products and offerings
to be quickly and simply disseminated to a large target demographic without any effort
on their part. Additional customers are attracted to the business attributable to
advertisement that immediately increases profits to some proportion. As one illustration,
Asda makes usage of social media channels like Facebook and Instagram to offer and
publicise its goods and operations. It aids businesses in luring fresh clients from the
industry.
Sales promotion: It makes up the "communication mix's" next major component. It
describes a marketing strategy in which a business uses a temporary promotion or
offering to increase consumption for its goods or offerings. Several businesses employ
this kind of marketing strategy to draw in more customers. To entice people to purchase
goods and activities from a firm, the business may likewise utilise a pricing or
discounting strategy. Discounting an item's pricing fosters better understanding among
the consumer and supplier. Sales promotion is crucial to a corporation's success since it
aids in increasing customer engagement and trust. For instance: The Next Plc provides its
operations and goods both physically and digitally in order to improve purchases.
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Direct marketing: It is another essential component of the "communication mix."
Supplying products and activities immediately to customers enables businesses raise their
profitability ratios. This practise is known as direct marketing. With the use of
communication, a business offers its goods directly to clients via direct marketing,
improving the degree of communication among the purchaser and the vendor. Direct
marketing is another excellent method for establishing a positive rapport with numerous
clients by giving them carefully curated promotional materials. As an illustration,
Unilever offers its goods and operations via its tangible outlets all around the globe in
direct marketing (Toro-Jarrín, Ponce-Jaramillo and Güemes-Castorena, 2016).
PART 2
Explanation of how each of the social media channels are used as part of a brands’ or company’s
communications strategy (using examples)
Snapchat: Subscribers of the phone software Snapchat can share and retrieve "self-
destructing" clips and photos. Snaps seem to be the terms used to describe the films and
photographs created with the use of this program. At the moment, this programme is used
every day by more than 500 million people. On Snapchat, individuals may post texts in
addition to images and recordings. As an illustration, Amazon leverages Snapchat to
advertise its operations and goods via regular advertisements, geolocation data, and
customised modifications. In addition, the company employs this channel to
communicate with its targeted clients in the industry (Ünal, Urbinati and Chiaroni, 2019).
Facebook: It is among the most popular "digital networking sites" that enables people to
engage or communicate with acquaintances, strangers, and co-workers. Facebook's
straightforward and affordable accountancy starting procedure draws in additional
consumers from the industry. It enables users who have enlisted to play songs, images,
essays, their personal ideas, and recordings with other users that have already signed up
for the service. Facebook is currently among one of the largest "digital networking sites
in the globe," with more than 2.90 billion monthly members throughout the globe. As an
illustration, Sainsbury makes usage of this digital social networking system to advertise
its fresh and ongoing offerings and goods. In addition, the company makes usage of this
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channel to educate the industry's targeted consumers on the merits and rewards of their
offerings and goods.
LinkedIn: It is a "digital networks website" that was primarily created for the
professional or commercial sector. This socializing platform's personal section includes
information about job background, educational achievements, occupational talents,
ability concentration, and other things (Wagner, 2016). The networking users on this
website are referred to as "links." This website's main purpose is to "enable authorized or
qualified individuals to establish and maintain corporate relationships of individuals they
recognize and appreciate." More than 800 million people are currently signed up on
LinkedIn, and the company is active in more than 190 nations worldwide. The authorized
users of LinkedIn have access to publish publications, publish pictures and images, join
new networks, and plan physical activities. As an illustration, ASDA employs this
medium to create a significant connection and recruit highly qualified contractors from
around the globe. This aids the company in improving their operational effectiveness,
giving customers an advantage against their main rivals in the industry.
Twitter: Like Facebook, Twitter is a "digital connecting tweeting platform" that enables
authorized individuals to publish brief messages, or "retweeting," electronically. In
addition to tweeting, it enables people to express their thoughts and sentiments through
the sharing of images and clips. Currently, there are many more than 290 million active
Twitter subscribers worldwide. The businesses are using this digital networking site to
advertise their goods and operations, increase their profit levels, and broaden consumer
awareness of their brands. For instance, Net Plc makes utilization of this network to
advertise its goods in order to grow its clientele and to boost or strengthen its client
support. Additionally, businesses are using this medium to increase or strengthen the
consumer perception of their business that is crucial for their continued expansion,
viability, and expansion in the industry.
An explanation of why I think the social media content is effective
Digital networking, in my perspective, is incredibly important and useful since it enables
businesses to rapidly and efficiently engage with their targeted audience while being more
relevant. Digital networking channels assist businesses in communicating the perks and features
of their goods and items to their intended market, thereby increasing the sales of those goods and
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commodities and, as a result, their profit levels. Additionally, it aids businesses in gathering
client input so they may enhance the value of their operations and goods and better meet the
demands and expectations of their clients (Wang, Pauleen and Zhang, 2016).
CONCLUSION
The "efficacy of online marketing" is described in the aforementioned research using the
"marketing mix and communications mix." Aside from this, many digital networking channels
are described that are used by businesses to interact with its targeted audience.
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REFERENCES
Books and journals
Barnes, C.M. and Watson, N.F., 2019. Why healthy sleep is good for business. Sleep medicine
reviews, 47, pp.112-118.
Brondoni, S.M. ed., 2018. Competitive Business Management: A Global Perspective. Taylor &
Francis.
Heirati, N. and Siahtiri, V., 2019. Driving service innovativeness via collaboration with
customers and suppliers: Evidence from business-to-business services. Industrial
Marketing Management, 78, pp.6-16.
Möller, K. and Halinen, A., 2017. Managing business and innovation networks—From strategic
nets to business fields and ecosystems. Industrial Marketing Management, 67, pp.5-22.
Pieroni, M.P., McAloone, T.C. and Pigosso, D.C., 2019. Business model innovation for circular
economy and sustainability: A review of approaches. Journal of cleaner production,
215, pp.198-216.
Toro-Jarrín, M.A., Ponce-Jaramillo, I.E. and Güemes-Castorena, D., 2016. Methodology for the
of building process integration of Business Model Canvas and Technological Roadmap.
Technological Forecasting and Social Change, 110, pp.213-225.
Ünal, E., Urbinati, A. and Chiaroni, D., 2019. Managerial practices for designing circular
economy business models. Journal of Manufacturing Technology Management.
Wagner, R.E., 2016. Politics as a peculiar business: Insights from a theory of entangled political
economy. Edward Elgar Publishing.
Wang, W.Y., Pauleen, D.J. and Zhang, T., 2016. How social media applications affect B2B
communication and improve business performance in SMEs. Industrial Marketing
Management, 54, pp.4-14.
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