Mass communication is an indispensable part of business. Business activities would be restricted without mass media. In this post-modern age, the success of business largely depends on mass communication. The role of mass communication in business is mentioned below-
The Role of Mass Communication in Business
Media of mass communication are used to make a wide circulation of news regarding forming and launching a new business. Mass media can bring the matter to the knowledge of concerned parties very quickly and seek their patronization and support.
Advertising products and services
Mass communication plays a vital role in adverting products and services. Mass media like radio, television, newspapers, and magazines are the prime vehicles of advertisement. Through advertisement on mass media, businesses can persuade potential customers easily.
Informing market demand and supply
Equilibrium condition of demand and supply of goods in the market is essential for market stabilization. If there is more demand than the supply, prices will go up again in the reverse situation, the prices will go down. Both of these conditions are harmful for the business. Mass media bring these matters to the knowledge of business executives and help to maintain market stability.
Business organizations are engaged in constant competition. In order to survive and to face the communication media like – advertisement, publicity, personal selling, etc. greatly contribute to enhance demand and to prepare better for facing competition.
Administering the business organization
A large organization may employ thousands of employees. Top-level executives cannot personally communicate with all of them. In such a situation mass communication is the best way to provide the employees with the necessary information instruction orders, guidelines, etc.
Large organizations usually have various departments like production, procurement, marketing sales, administration, accounts, etc. Success of that business depends on timely completion of various departmental activities in a coordinated way. Mass communication helps in coordinating those activities in a coordinated way. Mass communication helps in coordinating those activities through monthly, quarterly or yearly reports, handbill, circular letter etc.
Maintaining good labor-management relationship
Congenial labor-management relationship is a pre-requisite for organizational success. Creating and maintaining a good relationship requires frequent communication between workers and managers. Mass communication media facilitate frequent communication and thus maintain good labor-management relationship in the organization.
From the above discussion, we can say that, role of mass communication is unlimited in business. Its importance is severely felt in business especially, in the production and distribution of consumer goods. So for gaining business success the businessmen should be well aware of it.