Table of Contents
WHAT IS CORPORATE MARKETING? 3
Key Questions and Key Constructs for the Corporate Marketing Function 4
WHAT IS CORPORATE AFFAIRS? 5
Internal Communications 6
External Communications 6
Investor Relations 6
Events Coordination 6
The work of Corporate Affairs in a retail organization 7
THE REALMS OF CORPORATE IDENTITY, BRANDING AND MARKETING 8
SUMMARY 9
RECOMMENDATION 9
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WHAT IS CORPORATE MARKETING?
“Corporate marketing is the marketing of corporations, government entities, non-profit organizations and so forth. It includes efforts such as corporate branding and corporate communications.
Professionals in corporate marketing use a variety of media.
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This is achieved through having an in-depth understanding of the group 's needs and perspectives and effectively managing the relationship through communication.
An important function for the corporate affairs professional is to read the signs of the times correctly and think in terms of change. In so doing they study future trends which affect the interests of the company and advise how to make choices in the present which will create future benefits for the company.
The responsibilities of corporate affairs professionals include researching communication needs, addressing attitudes, determining shifts in attitudes, recommending policies and initiatives and then measuring the effectiveness of these initiatives. Through monitoring the issues and tracking the changes they are in a position to report on potential or real change and provide suggestions on how to deal with the change.
Corporate Affairs, therefore, manages communication with a range of audiences including: Community, Government, Media, Employees and Investors. Their role may include managing crises, introducing new products, negotiating prices, managing media placement, writing the company newsletter and updating the investment community on the R&D pipeline.
Corporate Affairs professionals focus on proactive and meaningful relations with the Community, Government, Media, Employees and Investors and any other groups that can potentially impact on their organization 's ability to
Has a director of corporate compliance his job is to make sure that the agency and all of the staffs with the agency follow all of the federal and state regulations and keep of operation so that the individuals in need gets the services.
Marketing Concept The marketing concept can be defined as the idea that an organization should strive to satisfy the needs of customers, while also trying to achieve the organization’s goals.1 The marketing concept is about matching a company 's capabilities with customer wants. This matching process takes place in what is called the marketing environment. Businesses have to take into account their competitors, as well as changes in the political, economic, social and technological environment. The before mentioned factors must be taken into account as an organization tries to match its capabilities with the needs and wants of its target customers. An organization that adopts the
• Communication / liaison: what you need to do to get maximum support from people both inside and outside the organization.
Media contact and use of social media: A PR person is designated to deal with the media. The whole company will direct all media related questions to this person.
Group members must build mutual respect for and trust and confidence in one another, so that “feel free to express opinions, test ideas, and ask for, or offer help when it is needed” (Smith, 1983).
This position deals directly with customer affairs. The associate answers questions on new products and also communicates with the management about to concerns raised by customers to drive the company forward by establishing a good customer relations. Applicants are required to have training in Public Relations and have a flexible work schedule.
Chief executive develops strategies and help in the decision making process for their corporations. They also promote overall growth of the corporations. This
The company secretary plays a vital role in supporting the board’s effectiveness by observing the company policy and procedures are followed, and coordinating the timely delivery and the agenda of the Board of Directors and physical conference.
Quick and fast changes in an environmental market place such as social growth (globalization and the growth of social networks), economic instability (crises), industrial progress, fast growing competitive world and firm marketing regulatory mainly have an effect on the work of most of marketing companies or marketing and brand image divisions of the companies. In order to put into practice a winning marketing plan or a boost in sales and customer awareness companies have to stay in pace with the new marketing environment and take into thought every likely detail that might help out or ruin the image of a company or product.
As an account supervisor, Adam is responsible for maintaining relationships between people, in and outside of the office. Public relation professionals have to schmooze everyone around them. It is important for them to maintain relations because you’ll never know when one of them might come in handy. Maintaining relationships though is not Adam’s main responsibility. Adam has to get his clients product or service talked about through different channels. When he first started to describe this I immediately thought of advertising but when I asked about advertising he said that it is completely different. His job purpose is to get his clients product talked about through other channels without paying them to talk about like an advertiser would. During the conversation Adam told me “always remember than an advertiser pays for their clients product to get out in the different channels, in the pr world we don’t pay to get it out there, we use our relationships and network with people to get our clients
There are many ways of achieving this for example: by recognising the needs and interests of others, negotiating, highlighting mutual benefits and effective communication thus ensuing everyone understands their role in the greater scheme of things.
2. Advocacy: Since a public relations professional works as an advocate for the public, it is important to provide the public with pertinent information so that people can make informed decisions. For instance, when presenting information to the public, it's important to provide views from different sides and/or people, as well as all of the relevant facts.
The theory explains that the value of public relations in organization and society lies in socially responsible managerial decisions and quality organization to public relations. Organisations must behave in ways that solve the problems and satisfy the goals of the stakeholders as well as the management in order to be effective. Good relationship with organisation’s strategic publics is helpful in developing and achieving goals desired by both the organization and its publics, reducing costs of negative publicity, and increasing revenue by providing products and services needed by stakeholders. Practitioners identify publics who are affected by or affect organizational decisions and communicate symmetrically with them to build high quality long term relations.
The public relations tactics in relation to the corporate context will now be examined. Customer relations can be associated with the monitoring of attitudes of key publics and stakeholders especially in regards to any negative incidents that have the potential to effect the organisation’s reputation and consumer trust (Wilcox, 2013, p.312). For Malaysian Airlines, this is evident given the potential for consumer boycotts with the missing aircraft’s (Crossman Communications, 2015, p2). Having over 12, 000 employees, employee relations are important for the organisation. Employee relations consist of monitoring employees’ attitudes and beliefs towards the organisation (Wilcox, 2013, p316) as there is potential for negative word of mouth by employees essentially damaging the company’s reputation. This is evident as according to Malaysian Airlines, they offer a “dynamic exciting environment that nurtures a diverse talented team that work to make great things happen” (2017). Finally, media relations are vital in a corporate context as “negative coverage can cause a corporation’s reputation to plummet” (Wilcox, 2013, p. 310). Having said that, it is important as public relations professionals to establish positive relationships with those who operate in the media industry. Kimberly Blessing argues the two fields (public relations and journalism) have an important working interrelationship with “60% of PR
As the name of the discipline implies, public relations is how an organization builds beneficial relationships with its key stakeholders. With effective communication as the practices’ primary tool, modern day organizations have taken advantage of proficient practitioners to boost exposure of their company and its message across to international audiences.