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    Corporate Communication - 210

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    Jatin Verma
    This document discusses corporate communication and marketing strategies. It covers [1] the contemporary corporate environment and need for effective communication, [2] the major modes of communication including advertising, sales promotion, public relations, personal selling and direct marketing, [3] corporate constituencies including employees, leaders, investors, community and customers, and [4] the differences between corporate identity, image and reputation. It also discusses [5] corporate philanthropy and social responsibility, how they can engage employees and benefit the company, and the importance of balancing financial commitments with philanthropic and social responsibility efforts.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Corporate Communication - 210

    Uploaded by

    Jatin Verma
    33 views7 pages
    This document discusses corporate communication and marketing strategies. It covers [1] the contemporary corporate environment and need for effective communication, [2] the major modes of communication including advertising, sales promotion, public relations, personal selling and direct marketing, [3] corporate constituencies including employees, leaders, investors, community and customers, and [4] the differences between corporate identity, image and reputation. It also discusses [5] corporate philanthropy and social responsibility, how they can engage employees and benefit the company, and the importance of balancing financial commitments with philanthropic and social responsibility efforts.

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    Corporate Communication- 210 (1)

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    This document discusses corporate communication and marketing strategies. It covers [1] the contemporary corporate environment and need for effective communication, [2] the major modes of communication including advertising, sales promotion, public relations, personal selling and direct marketing, [3] corporate constituencies including employees, leaders, investors, community and customers, and [4] the differences between corporate identity, image and reputation. It also discusses [5] corporate philanthropy and social responsibility, how they can engage employees and benefit the company, and the importance of balancing financial commitments with philanthropic and social responsibility efforts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    33 views7 pages

    Corporate Communication - 210

    Uploaded by

    Jatin Verma
    This document discusses corporate communication and marketing strategies. It covers [1] the contemporary corporate environment and need for effective communication, [2] the major modes of communication including advertising, sales promotion, public relations, personal selling and direct marketing, [3] corporate constituencies including employees, leaders, investors, community and customers, and [4] the differences between corporate identity, image and reputation. It also discusses [5] corporate philanthropy and social responsibility, how they can engage employees and benefit the company, and the importance of balancing financial commitments with philanthropic and social responsibility efforts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 7

    Corpor%te Communic%tion- 210

    Unit I: [Underst%nding Corpor%te Environment]

    1. Contempor,ry Corpor,te Environment: ,n overview

    The contempor%ry business environment is extremely competitive %nd


    hence coping with such pressures c%lls for modern m%rketing which c%n go
    beyond developing % good product, pricing it %ttr%ctively %nd m%king it
    %ccessible. Communic%ting with the present %nd potenti%l st%keholders
    %nd the gener%l public is no longer % m%tter of luxury but competitive
    necessity.

    M%rketing gurus like Kotler %nd Keller (2006) believe th%t every comp%ny is
    inevit%bly c%st into % role of % communic%tor %nd promoter. However, the
    m%in concern in the %ge of technology is not how to communic%te but
    r%ther wh%t to s%y, to whom %nd how often. This is where m%rketing
    communic%tions str%tegy comes into picture. it is essenti%l to h%ve %
    underst%nding of the modes of communic%tion which %re gener%lly
    included in the communic%tion mix to form % communic%tion str%tegy.

    Most of the experts ent%il five m%jor modes of communic%tion vis-N-vis


    Advertising, S%les promotion, Public rel%tions %nd publicity, person%l
    selling, Direct %nd inter%ctive m%rketing.
    ● Advertising: Advertising c%n be defined %s %ny p%id form of non-

    person%l present%tion %nd promotion of ide%s, goods %nd services by


    %n identified sponsor
    ● S%les Promotion: Activities included under s%les promotion c%n be

    described %s % v%riety of short-term incentives to encour%ge tri%l or


    purch%se of % product or service.
    ● Public Rel%tions %nd Publicity: These %re % set of communic%tion

    progr%ms designed to promote %nd protect the comp%nyʼs im%ge or its


    ●

    individu%l product.
    ● Person%l selling: These include %ll f%ce-to-f%ce inter%ctions with one or
    more prospective purch%ses with %n %im of m%king present%tions,
    %nswering questions %nd procuring orders.
    ● Direct %nd inter%ctive m%rketing: This is % product of the technology
    revolution %nd includes the use of e-m%il, post, telephone, f%x or
    internet to communic%te directly with or solicit response or di%logue
    from specific customers %nd prospect.

    2. Forms of Corpor,te Constituencies

    Constituencies in terms of Org%niz%tion (Soci%l) Responsibilities,


    Org%niz%tion Benefits %nd Potenti%l Ch%llenges %nd Tensions:-

    U. Employees
    -Support of individu%l development %nd growth
    -Incre%sed %ffili%tion & contribution
    -Sust%in%ble employment with % ch%nging economy, equit%ble
    compens%tion

    V. Senior le%ders
    -Est%blishment of %ppropri%te govern%nce pr%ctices
    -Growth %nd st%bility
    -Integr%ting the needs of different constituencies

    W. Investors
    -Fin%nci%l return
    -Resources for growth
    -B%l%ncing long- %nd short-term needs

    X. Community members
    -Services, products, employment, %nd investment returns; respect for the
    environment
    -Infr%structure %nd community resources
    -Equit%ble distribution of resources, environment%l issues

    5. Suppliers
    -Communic%ting needs, honoring commitments
    -Needed products %nd services
    -Qu%lity %nd consistency of incoming m%teri%ls/services

    a. Customers
    -Supplying evolving needs while meeting commitments
    -P%yment %nd le%rning
    -Fin%nci%l pressures

    7.P%rtners
    -Honoring %greements
    -Support
    -Divergent objectives

    3. Br,nd Identity, Br,nd Im,ge ,nd Br,nd Reput,tion

    Br,nd Identity
    Identity comprises those ch%r%cteristics of %n org%niz%tion th%t its
    members believe %re centr%l, distinctive %nd enduring. Identity will h%ve to
    be built %round the core v%lues of the comp%ny. Corpor%te identity merges
    str%tegy, culture, %nd communic%tions to present % memor%ble person%lity
    to customers. The term is closely linked to corpor%te philosophy, the
    comp%nyʼs business mission %nd v%lues, %s well %s corpor%te person%lity.
    The corpor%te identity is the first impression %ny customer will h%ve on the
    comp%ny.

    Corpor%te identity is often viewed %s being composed of three p%rts:


    %) Corpor%te design (logos, uniforms, corpor%te colours etc.)
    b) Corpor%te communic%tion (%dvertising, public rel%tions, inform%tion,
    etc.)
    c) Corpor%te beh%vior (intern%l v%lues, norms, etc.)
    Corpor%te identity h%s become % univers%l technique for promoting
    comp%nies %nd
    improving corpor%te culture. Corpor%te visu%l identity pl%ys % signific%nt
    role in the w%y %n org%niz%tion presents itself to both intern%l %nd extern%l
    st%keholders. In gener%l terms, % corpor%te visu%l identity expresses the
    v%lues %nd %mbitions of %n org%niz%tion, its business, %nd its
    ch%r%cteristics.

    Br,nd Im,ge

    A corpor%te im%ge refers to how % corpor%tion is perceived. It is % gener%lly


    %ccepted im%ge of wh%t % comp%ny st%nds for. M%rketing experts who use
    public rel%tions %nd other forms of promotion project % ment%l picture to
    the public. Typic%lly, % corpor%te im%ge is designed to be %ppe%ling to the
    public, so th%t the comp%ny c%n sp%rk %n interest %mong consumers,
    cre%te sh%re of mind, gener%te br%nd equity, %nd thus f%cilit%te product
    s%les.

    Br,nd Reput,tion

    Reput%tion is %n over%ll %ssessment of %n org%niz%tion by its st%keholders.


    Rese%rch univers%lly shows th%t % good reput%tion demonstr%bly incre%ses
    corpor%te worth %nd provides sust%ined competitive %dv%nt%ge.

    Steps to build reput%tion

    These six steps c%n strengthen corpor%te reput%tion through % st%keholder


    rel%tions progr%mmes:
    %) Conduct rese%rch to know key st%keholders better.
    b) Assess st%keholder strengths %nd we%knesses, %nd focus on the g%p
    between intern%l re%lities %nd st%keholder perceptions.
    c) Rese%rch the m%in f%ctors comprising the reput%tion of %n org%niz%tion
    %nd %lign them with policies, systems %nd progr%mmes in %ll function%l
    %re%s.
    d) Set pl%ns to exceed st%keholder expect%tions.
    e) Involve the Chief Executive Officer (CEO) %s the gre%test %lly or
    ch%mpion of % reput%tion progr%mme.
    f) Me%sure regul%rly %g%inst t%rgets %nd %ct to improve the results.

    4. Corpor,te Phil,nthropy ,nd Soci,l Responsibility

    When your sm%ll business decides to don%te % portion of your profits to %


    ch%rity, this %ction qu%lifies %s phil%nthropy. You m%ke either % one-time or
    ongoing commitment to give money to % nonprofit org%niz%tion, %nd th%t
    org%niz%tion uses the money to further its mission. Soci%l responsibility
    involves %dopting responsible beh%viors for your business. Corpor%te
    soci%l responsibility encomp%sses %ny pr%ctice th%t improves the lives of
    your work force, community %nd the environment.

    U. Corpor,te Phil,nthropy ,nd Employees

    When your business don%tes money to ch%rity, your employees m%y not be
    directly %ffected, %nd they m%y not be %w%re of the comp%nyʼs ch%rit%ble
    %ctions. Phil%nthropy decisions come from owners %nd chief executive
    officers. While employees m%y be m%de %w%re of the ch%rit%ble
    contribution, they %re seldom consulted %bout which ch%rity the comp%ny
    chooses to contribute to.

    V. Soci,l Responsibility ,nd Employees


    When you mount % c%mp%ign to m%ke your comp%ny more soci%lly
    responsible, employees c%n p%rticip%te %ctively to m%ke it % success. In
    f%ct, employees c%n he%d efforts to cle%n up the community, p%int %nd
    rep%ir schools, st%rt recycling progr%ms, collect don%tions for the
    underprivileged, conduct blood drives or reduce comp%ny w%ste.

    W. Corpor,te Phil,nthropy ,nd Comp,ny G,in

    When you eng%ge in phil%nthropy, your peers %nd the public do not expect
    you to g%in from it, %ccording to the GulfNews website. Publicizing your
    phil%nthropic efforts %s % w%y to improve your comp%ny reput%tion c%n
    b%ckfire. If you le%ve publicity up to the ch%rity, you m%y benefit without
    %ppe%ring to be self-serving.

    X. Corpor,te Soci,l Responsibility ,nd Comp,ny G,in

    Your business c%n publicize your efforts to be soci%lly responsible. The


    public tends to %ccept this %nd m%y respect your comp%ny for boldly
    st%ting th%t soci%l responsibility is % corpor%te duty. If you c%n eng%ge the
    community %nd your customers in helping your efforts to eng%ge in soci%lly
    responsible business, you c%n cre%te goodwill. This goodwill c%n tr%nsl%te
    into loy%l customers %nd positive br%nd recognition.

    Doing Both

    Corpor%te phil%nthropy %nd soci%l responsibility %re different but not


    mutu%lly exclusive. You c%n eng%ge in both. Since phil%nthropy %nd soci%l
    responsibility come with costs, you should ev%lu%te the extent of your
    fin%nci%l commitments before you m%ke them. In p%rticul%r, %void
    overcommitting %nd then h%ving to b%ck out due to fin%nci%l stresses. The
    neg%tive publicity from such %ction c%n hurt your comp%ny. Eng%ging in
    phil%nthropy %nd soci%l responsibility simult%neously c%n help others while
    est%blishing your comp%ny %s % good neighbor %nd generous giver.

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