“The goal of marketing communication is to generate both short-term financial returns and build long-term brand and shareholder value”, Dr. Schultz said.
The seminar was attended by over 200 MICA students of the Post Graduate Programme in Communications Management (PGPCM), Crafting Creative Communications (CCC) and Retail Communications Management (RCM). Also present at the seminar were Professor Atul Tandan, director of MICA, Professor Naval Bhargav, head of International Relations, MICA as well as other MICA faculty members.
Dr. Schultz is well known for his contribution to the field of marketing communication where he has propagated the concept of Integrated Marketing Communications. Dr. Schultz is currently the Professor Emeritus of Service at Northwestern University's Medill School, USA.
On the first day, Dr. Schultz spoke about the birth of marketing communication in a rapidly changing American landscape and its subsequent acceptance among the South-Asian countries. He addressed the importance of being customer centric, pragmatic and gave lucid examples of firms he was associated with – notably IBM. He explained the five stages of the marketing communication process to get maximum returns.
On Day two, Dr. Schultz spoke about aligning ‘push and pull’ marketing communications and potential solutions for marketers competing in such a scenario. He talked on the development of new communication methodologies and systems and the shift of power in the marketplace to the customer. He ended his address by giving his views on how the firm should prepare itself for this new marketplace and gave a few insights from his latest book, Brand Babble.
