MARCOM is industry slang for Marketing Communications and its all about how you mix up your marketing options to attract customers. There are five traditional elements or options to this mix. Here's the rundown:
Advertising: Paid promotion to a large dispersed audience. Impersonal one way communication. Tends to be expensive but has high exposure. Builds brand image and legitimacy, might help stimulate some short-term sales.
Personal Selling: Built on relationships this is your most powerful tool for building buyer preferences but also the most time consuming and expensive, particularly because it's typically done by a professional in house sales force.
Sales Promos: This includes coupons and contests. It's all about purchase incentives and may help boost sagging sales, though short lived and not very effective for building long-term brand preference.
Public Relations: This includes news stories, events, sponsorships etc. Typically highly credible and the most under-utilized elements of the mix. It's usually inexpensive and has solid impact.
Direct Marketing: This includes phone calls, direct mail and some online marketing. It has four specific characteristics, it's nonpublic, immediate, customized and interactive. It's a good bet for highly-targeted marketing campaigns.
In trying to decide what mix to use think about your total available budget and set your mix from there. Aim for an integrated approach however and make sure you are devoting enough resources to each component.
For help setting your marketing campaign strategy and mix e-mail us at contact@DiamondHeadStrategies.com and check us out online at www.diamondheadstrategies.com
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