Marketing And Promotion

Public Relations: as explained, this may overlap to some extent with Customer
Services, but the image of the company and its perceived standing in the eyes of
the public is of great significance. This wide-ranging activity will include:
(i) the co-ordination of all external communications;
(ii) the co-ordination of media enquiries and interviews;
(iii) press conferences, to announce or explain things, as necessary;
(iv) preparing press releases and copy for trade and other journals.
(b) Promotions: organising and co-ordinating their preparation and conduct.
4/3
(c) Advertising: closely interconnected with the above, this enormously important
area includes:
(i) selection of external agencies (if used);
(ii) the extent to which TV or other media are to be involved;
(iii) co-ordination of advertising campaigns;
(iv) expenditure analysis and control.
Note: Advertising is an area which could involve massive expenditure. Great
care must therefore be taken in its management and control. As one
famous businessman said ‘Half the money I spend on advertising is wasted.
Unfortunately, I do not know which half!’
(d) Sponsorship: insurers are frequently asked to sponsor industry or educational
projects. Also, this is of course an important aspect of advertising, involving
much time and probably a considerable budget.
(e) Market research: obviously, continuous monitoring of one’s present and potential
market is a vital element for a marketing department.