What is marketing communication and its components

Corporate communication

1. Term: Corporate communications is the part of corporate management that uses perception management to shape reputation.

2. Aim: If reputation is the overall goal of corporate communication, the individual perceptions of relevant stakeholders (employees, customers, environmental groups ...) such as trust (expected behavior) and credibility (extent of perceived expectability) are central sub-goals. From this, above all, perceptual (informative, educational, emotional), action (e.g. willingness to recommend, propensity to buy, employee motivation) and target group-related (e.g. management approval, customer satisfaction) sub-goals are derived. Since the reputation depends not only on planned communication, but also on unplanned perceived action, the consequences of which can be scandals relevant to success, behavior management is a central part of corporate communication.

3. Aspects: The corporate communication is partly reduced to the planned communication or relationships to be designed according to plan and thus reflects its tradition as part of the operational marketing planning in the communication mix. Different developments since the beginning of the 1980s at the latest, such as the deviation in the stock market and book values ​​of companies, the stakeholder debate, or the realization that corporate management is also communication, each emphasize the importance of soft factors for corporate success. Since the term stakeholder includes both individuals (the bank, major customers ...) and groups (the brand community, the citizens' movement ...), group-dynamic processes (resistance, enthusiasm ...) are soft factors as a central field of action so that the originally instrumental focus (e.g. media work, event communication) of corporate communication is expanded to include strategic behavioral aspects (brand management) and thus leads back to the originally action-oriented public relations debate (PR) of the post-war period (classic PR formula: 90 percent act, 10 percent talk ).

4. Delimitation and instruments: Corporate communication includes target group-oriented internal and external communication and conceptually stands next to public relations (PR), which are partly interpreted synonymously, partly also as a social phenomenon. A distinction must be made between public relations in the narrower sense as instrumental communication (press work, event communication ...). The communication policy is partly also next to the strategic corporate communication, partly contains a behavior-oriented component, but is partly presented in the tradition of the operative marketing mix debate. The debate about corporate culture (unwritten values ​​and norms), with its influence on corporate identity, is normatively regarded as a framework of behavior (corporate behavior) and thus as the foundation of corporate communication. Internal brand management is also understood in this sense. On this basis, sustainable target images (external image) should be achieved. Ideally, it matches the actual image as reputation. Depending on the target group, a distinction can be made between stock exchange communication, investor relations, customer communication, dealer communication, employee communication and others. Product or industry communication can be emphasized along the beneficiaries. Approaches to corporate communication include stakeholder management (communication with stakeholders), integrated communication (communication that is factual, temporal, spatial and instrumental), corporate identity (communication based on self-image), brand management (originally highly condensed symbolic communication of benefits) and marketing -Communication (originally market-oriented communication in the marketing mix) is widely used. Depending on the occasion, a distinction can be made between crisis communication and change communications. With crisis communication and investor relations, behavior-oriented corporate communication is gradually finding its way into corporate governance.