An Empirical Assessment of the Relationship of Marketing Communication Mix and Performance of Business Organizations
In the business world, companies use different marketing activities to communicate with their environment. These are as a result of past experiences, habits or certain influences. Marketing efficiency of a communication mix as well as analyzing the effect of using a specific marketing communication activity on different business performance determinants is usually neglected. This paper focuses on the correlation between communication activities and the business performance of company through two aspects: - The frequency of using a specific marketing communication activity and its correlation to business performance determinants; and the correlation between the number of marketing communication activities that a company uses and its business performance determinants. Statistically significant relationships (positive and negative) were found among some marketing communications and business performance variables. This helped in interpreting which marketing communications activity a company should use in order to increase customer loyalty, which activity helps raise net profit, and how many marketing communications activities a company should employ to optimize business performance mix. With this, managers and owners of small and medium sized enterprises obtain basic guidelines when building their marketing communication mix.