Corporate Business Communication: Marketing Management Essay

Question:

Discuss about the Corporate Business Communication for Marketing Management.

Answer:

1:

Principles of consumer behavior

Explanation of principle

Examples on buyer behavior

Cultural

Based on cultural background, the values and perception for buying varies among consumers, sub cultural factors including shared values within group, common life experiences affect the buying behavior of people. Sub cultural groups often consider a brand more feasible than others in a market

For example, recently, the ‘ethnic’ cosmetics which have become popular are more suitable to non-Caucasian population as well as Arab, African or Indian population. On the other hand, another example related to the sub class division is, while buying anything, urban educated or upper class people exhibits individualism, while the Indian culture shows collective nature of buying (Argenti 2012).

Social

Social factors influence consumer’s buying behavior which are groups, family and consumer’s social role and status. Education, wealth, occupation and income status decides the social class of people which promotes the buying behavior of consumers

One exam1ple for social factors influencing buying behavior is, consumer from the middle and upper class attempt to purchase more healthy and balanced food than consumers belonging from lower social class. It can be due to awareness or economic factors. Another example of social factor influencing buying behavior is, an upper class consumer always tend to be attracted to products or services with better quality, features, innovation or social benefits, whereas, in contrast, consumers from lower social backgrounds are more concern with product price (Khang and Ye 2012).

Personal

Personal factors including age and family life cycle stage influences economic situation and occupation influence personality and self-concept which influence buying behavior

People have personal values and beliefs which promote buying behavior. Based on age , people changes the buying behavior. For example, at the young age, people like to buy fast food and high fat food without hesitating, however, at the middle age of life, people prefers low cholesterol food (Castronovo and Huang 2012). Lifestyle of the family also affects buying behavior. A middle class Indian family would not buy alcoholic beverages as frequently as family in UK.

Psychological

Psychological principle depicts that psychological factors including motivation, perception, beliefs, learning and attitude has an huge impact upon buying behavior

Sometimes, the psychological factors enhance promote the superiority of a brand after receiving a good service for one time, for example, many women prefer the brand Lakme and purchase products without having a second thought. On the other hand, the psychological factors promote the attention of consumers in accordance to their current needs, for example, people wishing to buy a car would pay more attention to a care advertisement, in spite of a computer advertisement (Rice and Atkin 2012).

Situational

The situational factors including availability of the product, location of store, weather of particular day and timing of the purchase influence the consumer buying behavior.

Situational factors like weather can promote buying behavior. A person would wish to have a burger in a sunny day rather than a rainy day. Timing is another major factor. If a consumer have less time, he would prefer online brand rather than visiting to a store

2:

Marketing communication options

Explanation

Advertising

· The main feature of this communication option is to increase awareness of a brand which is the major aspect in marketing

· The advertise should be very transparent and clear towards its objective and oriented to the target audience. Therefore, it will help to measure the effectiveness of the product or service which is being advertised (Yeshin 2012).

Packaging

· The package text message is very important in marketing communication

· It provides the information about product, production, company and others important information and this information must be conveyed to buyers. The graphics design of packaging also helps to attract more buyers

Personal selling

· Personal selling is best way to enhance positive relationship with buyer which also helps to gain a good brand name

· The interactive method of personal selling promotes two-way communication which helps to improve the business by incorporating buyer’s special requirements

publicity

· The purpose of publicity is to gather attention of consumers towards a company or products in spite of paying the media

· In addition to its cost effectiveness, the publicity is more credible in comparison to advertising

Sales promotion

· Sales promotion is done for influencing people to purchase product/service, mostly these kinds of sales promotions are targeted to short-term benefits

· However, consumers are not always seen to remain loyal to the products who has been attracted to the product or service through the sales promotion (Castronovo and Huang 2012)

3:

Media vehicles

Explanation of vehicle

advantage

limitation

Television

Television is characterized as the broadcast vehicle which is used for targeting mass audience with low cost/target (Rice and Atkin 2012).

When small businesses are unable to afford to national network, they can use local networks of television for marketing purpose

It lacks excessive detail-sharing and time duration is low

Direct mail

It can be used for both short and broad message transduction

Can be send to targeted audience

Take more time and cost will be more than mass media vehicles

Website

It is a mass media vehicle which helps in grabbing consumers attention by providing basic information about products or services

Provide the opportunity for both mass and interpersonal communication

Cannot target a specific audience group

Email

It is the narrowcast media vehicle

Take less time and provides low cost advertising options

Hacking or spamming information

Radio

It is also broadcast and traditional media vehicle targeted for wide range of audiences (Yeshin 2012)

Beneficial for small businesses

Can only advertise to local network

Telemarketing

It is direct marketing vehicle where sales person communicate with consumers over call or web conferencing

Direct communication is facilitated

Takes more time and cost

Transit media

It is a print vehicle of media which are accessible to people compared to other vehicles

More accessible and used in targeting mass media

Expensive in comparison to the other media vehicle options (Khang and Ye 2012)

4:

Legislation

Explanation

1. Australian consumer law (ACL)

Australian consumer law helps to avoid any kinds of unfair practices in business, it helps to reduce misleading or deceptive conduct, false representation, promote marketers to provide standard information (Legislation.gov.au 2016).

2. Spam act 2003

It inhibits unsolicited e mails sending to any consumers or people linked to the business which is known as spam with an Australian link.

3. Telecommunication act 1997

It regulates the activities in telecommunication industry and guide to have their carrier license. It also deals with industry standards and codes development in any particular industry (Legislation.gov.au 2016).

4. Privacy act 1988

Privacy act 1988 deals with privacy in the rights of consumers, marketers and all other people who are related to the business. The privacy rights are known as information privacy principles which are applied to the Australian government and Australian capital territory agencies and private sectors. The principles related to the law direct the way of personal information collection by the government agencies from the business organizations (Legislation.gov.au 2016).

5. Freedom of Information Act 1982

The freedom of information act 1982 provides the business participants the public rights for accessing official documents of their related agencies. This act promotes marketers to share information with the shareholders and other members from the government agencies (Legislation.gov.au 2016).

Reference List

Argenti, P., 2012. Corporate communication. London. McGraw-Hill Higher Education.

Castronovo, C. and Huang, L., 2012. Social media in an alternative marketing communication model. Journal of Marketing Development and Competitiveness, 6(1), p.117.

Khang, H., Ki, E.J. and Ye, L., 2012. Social media research in advertising, communication, marketing, and public relations, 1997–2010. Journalism & Mass Communication Quarterly, 89(2), pp.279-298.

Legislation.gov.au, 2016. Federal Register of Legislation. [online] Legislation.gov.au. Available at: < [Accessed 24 May 2016].

Rice, R.E. and Atkin, C.K., 2012. Public communication campaigns. London. Sage.

Yeshin, T., 2012. Integrated marketing communications. Abington. Routledge.

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