Short for marketing communication, MarCom refers to the messages and media a company uses to communicate with its target audience.
Detailed Explanation
MarCom is a major component of any company’s marketing efforts and includes the following:
– Online and offline advertising – Branding – Packaging – Sponsorships – Public relations – Email marketing – Social media presence
You can judge a company’s MarCom by its ability to achieve the three Cs – communicating, competing and convincing.
– Communicating: This is the first point of contact where the main goal is sharing ideas, concepts and views with your target market. Ensure you design an accurate and concise message that adds value to viewers. – Competing: In this phase, show your target audience why your product or service is better than the competition. Differentiate your brand, use competitive prices or promote social causes. – Convincing: Once you’ve established yourself as a competitor, persuade customers to buy your product or service over others. Sometimes, you’ll have to convince customers again to retain them, as many people won’t keep buying from you without good reason.