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Using The Fundamental Marcom Decisions in Marketing

Instructor: Sean Kennedy

Sean has 8 years experience as a supervisor and has an MBA with a concentration in marketing.

Using the fundamental Marcom decisions in marketing is essential to get consumers to purchase products. In this lesson, we will discuss targeting, positioning, objective setting, and budgeting.

What Is Marcom?

Do you ever wonder what the process of marketing communication entails? Marcom is short for marketing communications and helps deliver an organization's message through channels such as radio, television, magazines, or mail. Marcom's primary purpose is to increase the equity of your brand. Brand equity helps consumers develop a perception in the consumer's mind and the value it brings to the consumer.

Marcom is an essential process for a company to get the consumer to purchase products and to make sure the consumer is delivered the proper advertising message. There are some crucial steps that need to be taken to ensure Marcom is carried out correctly. Marcom is carried out through the use of targeting, positioning, objective setting, and budgeting.

Targeting

The Healthy Snack Company is looking to find the right customer base to eat their snacks. What would happen if companies just released products without knowing anything about their customers? Well, chances are they would not develop a successful marketing campaign.

Targeting allows marketers to provide information to the appropriate consumer. As a marketer, a target market is determined by age, gender, ethnicity, or religion. These are only some of the determinants companies use when targeting. It is essential to determine the target market so you can focus your marketing efforts to attract the type of customer that will buy your product.

The Healthy Snack Company has decided their main target will be children, adults who want to eat healthy, and also people who can not eat gluten. By choosing this target market, they have to make sure their marketing campaign will reach out to the people they are targeting. The company must learn what is important for each of these consumers and make sure they highlight that while advertising.

Positioning

The Healthy Snack Company wants consumers to remember their product. A way for them to have consumers recognize their product is through positioning. Positioning gives a distinct perception in the consumer's mind so the product will stand out among competitors. For instance, a company may choose a particular logo that will stick in the consumer's mind and help the company stand out from other businesses. When developing a positioning statement, it is the central topic of the advertising message, which is why it is essential to make sure it connects with the type of consumer you are trying to reach.

The Healthy Snack Company positions its products as a healthy but full of flavor product that will be beneficial to children and even adults. This positioning statement will give parents the idea that it will benefit their children and will still have flavors the kids will all like. The company has to try and persuade both the parents and the children to try the product.

Objective Setting

The Healthy Snack Company wants a set plan that will allow them to succeed in business. The company can set objectives as a guideline. Objective setting is when a company has a list of goals they want to achieve. There are both long-term goals and short-term goals a company will want to accomplish. A short-term goal may include having successful profit for the current quarter. A long-term goal would be expanding their business operations to other countries. It is essential to set these objectives because it gives something for the employees to work towards.

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