MKT202: Marketing Communication and Budget: Strategies and Analysis

This essay delves into the critical relationship between marketing communication and budget within an organization. It emphasizes communication's role in building customer relationships and its significance in the marketing mix. The essay outlines the objectives of marketing communication, includ...Read More

Running Head: MARKETING COMMUNICATION AND BUDGET
0
MARKETING COMMUNICATION AND BUDGET
System04121
8/20/2019

MARKETING COMMUNICATION AND BUDGET
1
This essay is a discussion about the marketing communication and the marketing budget and
how they play an imperative part for the development of the company or an organization.
Communication is an important part for any organization and it also helps in building good
relationships with the customers and it plays a crucial role in the marketing as well.
Marketing communication are the communications that are associated to the use of media in
order to communicate with the market. Marketing communication is a part of promotion and
it is also the part of marketing mix (Parente, and Strausbaugh-Hutchinson, 2014) The main
objective of the marketing communication is to spread specific number of audience to move
the behaviour of customers by notifying, persuading a and reminding. Marketing
communication aids in acquiring the new customers for the brand by building consciousness
for the brand and also encourages the trial and the Marketing budget is something that helps a
company to be more strategic like the market budget helps the company to analyse and spend
carefully and this thing is important for some of the small business owners. The marketing
budget also helps in making it more possible for the company to measure the performance
and cost from many tactics that lie under the term marketing, which includes Social media
ads, Pay per click and banner ads, Content marketing like blog posts, videos, info graphics
and podcasts, Direct mail, Targeted online display ads and Email marketing. This essay is a
brief study of the marketing communication and marketing budget and its importantance in
the organization
Communication plays an important role in the advertising, the people who advertise, practice
branding, practice direct marketing and sales promotion through stores or online marketing,
they are known as the marketing communicators. The process of communication is sender
encoding and broadcast device, all this is a part of any marketing or advertising program. The
indoctrination of a message is the additional step in the procedure of communication, which
helps in taking the imaginative idea and alters it into consideration for receiving the

MARKETING COMMUNICATION AND BUDGET
2
advertisement designed from various media such as radio, magazines, television and others.
The messages travel to the spectators by numerous devices of transmission.
The third stage in the process of marketing communication happens when a medium or a
channel provides the message. The decoding happens when the message spreads one or more
receivers. The clients both hear and see the ads on television.
Marketing communication are the messages that are connected to the use of media in order to
communicate with the market. Marketing communication is a part of promotion and it is also
the part of marketing mix. The main goal of the marketing communication is to reach specific
number of audience to affect the behaviour of customers by notifying, inducement a and
repeating. Marketing communication helps in acquiring the new clienteles for the brand by
building awareness for the brand and also encourages the trial (Castronovo, and Huang,
2012).
Marketing communication aids in maintain the current customers of the brand by
strengthening their behaviour of purchasing by proving additional evidence about the
welfares of the brands. The secondary objective of marketing communication is constructing
and supporting relationships with the customers, retailers and other important stakeholders
(Kitchen, and Burgmann, 2010)
The success of marketing communication is reliant on on the mixture of various options
called the promotional mix (Mihart, 2012) these options comprise things like sales,
advertising, public relatives and promotions. The internet is also a main instrument that helps
in communicating and reaching the important audience. The part of each component in the
program of advertising communication depends on whether the company uses pull or push
strategy. The pull policy mainly focuses on the call of the consumers rather than individual
selling for the product that travels from one manufacturer to the end user. The request which

MARKETING COMMUNICATION AND BUDGET
3
is produced through the promotions and sales “pulls” the service or good done the channel of
distribution. The push strategy on the other hand focuses more on personal marketing to drive
the product by the channels (Bacile, , and Swilley, 2014)
In the old days traditionally, marketing communication practitioner focused more on creating
and executing the printed marketing. A lot of tendencies in the business can contribute to the
marketing communication like for instance the change from the customer facility to customer
relations and change from the human resource to human answers.
In order to have a positive marketing communication there should be sound administration
decisions of the organization in three parts of marketing mix. The service, idea or product.
The price at which the brand will be obtainable and spaces by which the customer can obtain
from the brand. The best promotion cannot astounded the poor product quality, in ordinary
high prices or any inadequate retail distribution
Moving ahead marketing also includes marketing budget, marketing budget is an important
part of any business as marketing is a thing that affects most of the areas of a business. The
marketing budget is critical to the success of the organization. A good and well- defined
marketing budget helps in measuring and managing the investment that is needed by a
company to acquire the new customers and to reconnect with the existing customers, it also to
help in identifying the opportunities in order to optimize the tactics that can be a barrier in
the process of marketing (Hanssens, and Pauwels, 2016)
Marketing budget is something that helps a company to be more strategic like the market
budget helps the company to analyse and spend carefully and this thing is important for some
of the small business owners. The marketing budget also helps in making it more possible for
the company to measure the performance and cost from many tactics that lie under the term
marketing, which includes Social media ads, Pay per click and banner ads, Content marketing

MARKETING COMMUNICATION AND BUDGET
4
like blog posts, videos, info graphics and podcasts, Direct mail, Targeted online display ads
and Email marketing.
The marketing is a critical factor of the business and without it a company might have to
struggle in grow. Therefore, it is perilous to look at what it involves and how one can create
affordable marketing budget for the business (Cavander, Kamvysselis, and Marketshare
Partners et al, 2013)
The marketing budget is made up of the two components which are time and money. Both of
these things need to be capitalized in order to make marketing campaign successful. The
marketing budget and ROI go hand in hand and the market budget helps in determine the
exact amount of money that a company needs. A business or a company without a marketing
budget may find themselves unable to n pay back the costs. A well-devised marketing budget
will support the company through the process of planning and will help the company to
measure and manage the money it has ensured on every expenditure and if it is appropriately
or not (Kumar, and Mirchandani, 2012). If a company does not have a budget for marketing,
then the company will face issues with the marketing strategy. For any industry, planning a
marketing budget may seem a timely exercise, but is worth. It helps in making sure that
business will go in the right direction, and with a budget of firm the company will be able to
stand promises and everybody will be satisfied. Marketing not only includes advertising and
promotion instead it includes various other things and budget helps in covering the cost of
many areas of a business planning, distribution and pricing of a product or service in order
to stay competitive and maximise the profits (Zhao, and Zhu, 2010)
The main budget category includes the macro factors of the business such as: market
research, product planning and development in order to help in setting the pricing and
production objectives, under this comes the sub- category which includes spending like the

MARKETING COMMUNICATION AND BUDGET
5
design service of needed for any kind of advertising and the cost that is needed to be
incurred.
The sub categories include the creation of concluding version of the product or service. This
needs market research in order to know what the market needs or wants. Under this the
budget money is for surveys of customer and focus groups, evaluation of competition and
the test marketing of the initial product and service which also includes the costs of the free
samples. Under the product planning and development the money of budget is used for
making the prototypes which includes the design services and the manufacturing. One a
company is sure about what is being sold and who will be buying it then it needs to create a
plan for media in order to send the message out. It also includes the cost for copy writing,
printing designing and other external promotions such as the trade shows and the events for
sponsoring. (Raman, Mantrala, Sridhar, and Tang, 2012)
Another thing is staff and contractors, the company will always need someone to perform the
tasks related to the marketing and the budget covers the expenses related or associated with
the use of external staff, contractors and other public relation agencies. In the marketing
budget, the last category includes the budgeting formulas. A business is something that often
sets a static budget for the pre- communication marketing desired. Which includes the things
such as investigation and growth and a dynamic budget for advertising? A marketing budget
is something which is significant for facilitating the company proactively for the promotions
such as the social media or the in store raises.
Through this essay it can be seen that the marketing commination helps in the following ways
marketing communication benefits in maintaining the current customers of the brand by
strengthening their performance of purchasing by proving additional info about the aids of
the brands. The secondary objective of marketing communication is structure and

MARKETING COMMUNICATION AND BUDGET
6
strengthening relationships with the customers, retailers and other significant stakeholders,
therefore marketing communication is the key for the success of an organization, along with
this the essay shows that only the market communication cannot help the company, there is
also the need for marketing budget for the good performance of the company. Marketing
budget is time consuming but it is something without which a company can face issues and it
is highly significant for the company to focus on this. Marketing budget, marketing budget is
an important part of any business as marketing is a thing that affects most of the areas of a
business. The marketing budget is critical to the success of the organization. A good and
well- defined marketing budget helps in measuring and managing the investment that is
needed by a company to acquire the new customers and to reconnect with the existing
customers, it also to help in identifying the opportunities in order to optimize the tactics that
can be a barrier in the procedure of marketing. The marketing budget and communication
both goes hand in hand as without communication a company will not be able to shape
relationship with the clienteles and the employees and without the market budget the
company will face a lot of issue in managing their money, which can also lead to failure of a
business.

MARKETING COMMUNICATION AND BUDGET
7
REFRENCES
Bacile, T.J., Ye, C. and Swilley, E., 2014. From firm-controlled to consumer-contributed:
Consumer co-production of personal media marketing communication. Journal of Interactive
Marketing, 28(2), pp.117-133.
Castronovo, C. and Huang, L., 2012. Social media in an alternative marketing
communication model. Journal of marketing development and competitiveness, 6(1), pp.117-
134.
Cavander, D., Hanssens, D., Ramachandran, S., Singh, A., Paunikar, A., Vein, J., Nichols, W.
and Kamvysselis, P., Marketshare Partners LLC, 2013. Cross-media attribution model for
allocation of marketing resources. U.S. Patent Application 13/204,585.
Hanssens, D.M. and Pauwels, K.H., 2016. Demonstrating the value of marketing. Journal of
Marketing, 80(6), pp.173-190.
Kitchen, P.J. and Burgmann, I., 2010. Integrated marketing communication. Wiley
international encyclopedia of marketing.
Kumar, V. and Mirchandani, R., 2012. Increasing the ROI of social media marketing. MIT
sloan management review, 54(1), p.55.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour:
Effects on consumer decision-making process. International Journal of Marketing
Studies, 4(2), p.121.
Parente, D. and Strausbaugh-Hutchinson, K., 2014. Advertising campaign strategy: A guide
to marketing communication plans. New York: Cengage Learning.

MARKETING COMMUNICATION AND BUDGET
8
Raman, K., Mantrala, M.K., Sridhar, S. and Tang, Y.E., 2012. Optimal resource allocation
with time-varying marketing effectiveness, margins and costs. Journal of Interactive
Marketing, 26(1), pp.43-52.
Zhao, L. and Zhu, J., 2010. Internet marketing budget allocation: From practitioner's
perspective. International Journal of Information Technology & Decision Making, 9(05),
pp.779-797.