Suresh Gaur on Public Relations

Understanding  Integrated Marketing Communication (IMC) The traditional definition of marketing was released by the American Marketing Association in 1985 and states that “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives”. This definition suggests that the parties involved must have something of value to offer to the other party and must have the desire and ability to give it up and find a way to communicate with one another. In 2004, the definition of Marketing was revised to reflect these changes - “Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large”. Creating, Communicating, and Delivering Value is thus the current focus. Marketing is regarded as an integrated process thro

Understanding Elements of P R In Communication we have 9 elements i.e. Idea, Encoding, Medium or Message, Sender or Encoder, Channel, Receiver or Decoder, Decoding, Feedback, and Noise. In Marketing we have 7 elements or Cs i.e. Product, Place, Price, Promotion, Packaging, Positioning, and People. In  Public Relations we have 6 elements which  are as under; 1                  1.  Two way communication 2          2.  Mutual understanding 3          3.  Caring for public opinion 4          4.  Social responsibility 5          5.  Management function 6          6.  Planned activity These elements having certain characteristics and are inter-related, in fact one tends to lead to another.  Lets understand these elements one by one….. Two way communication: PR is two way communication. In PR, feedback is important. Therefore, the organisations must improve their channels of communication and establish a two way flow of communication between the desired public-i

Financial PR and its’ Importance Financial PR or Financial Relations or Shareholder Relations or Investors Relations is one of the most important functions of Corporate PR. It   primarily focuses on PR concerning finance and investment related matters. The main objective of Financial PR is to ensure its positive perception in the minds of its target audience. Financial PR attempts to portray the corporate financial state in the best possible light. Financial PR provides information mainly to business journalists and related publics i.e. investors, stakeholders and the depositors.           Financial PR identifies the target audience, and tailor every message to appeal to that audience. It can be a general, nationwide or worldwide audience, but it is more often a segment of a population. Financial PR promotes communication among target audience on financial topics such as deposit schemes, funding; risk management; trends in banking and cash management; the perception of the c

Corporate Communication Corporate Communication is the method by which large and medium size corporate communicates with its target public i.e. employees, customers, and stakeholders. Reputation of the corporate and its products are built through the messages disseminated by the corporate to its employees, customers and different publics. These messages,   called Corporate Communication, makes the corporate visible and gives its products an image and reputation a customer can identify with. Stakeholders i.e. investors, shareholders, partners, suppliers, employees, government, NGO’s, local community, industry and customers - any individual or group which can affect or be affected by an organisations activities need to feel a sense of involvement with what the corporate is doing, the more they know, and the more open the communication with them, the more they trust, and feel involved and responsible for the corporate in which they have a stake. To communicate effectively,