- An Introduction to an Effective Promotional Mix
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INTRODUCTION TO PROMOTIONAL MIX
There are lots of things that must come together for a company to successfully promote its products or services; this is what is sometimes referred to as a company’s marketing mix . There are 4 key components to any marketing mix, and one of the most important is the promotional mix.
The Promotional Mix in Marketing
Definition of the Promotional Mix
The promotional mix is best described as a series of tools that a business uses to communicate the message of why consumers should buy their product.
Why is the Promotional Mix Important?
The answer is very simple. If customers don’t know about your services and products, you will not get any sales. So the promotional mix is critical because it is the way you effectively communicate the characteristics of your goods and services to generate sales.
The Difference between Promotional Mix and Marketing Mix
The marketing mix encompasses several aspects that attract new and repeat customers. The promotional mix is just one aspect of the overall marketing mix, and it focuses on communication and interaction with potential customers.
Four Elements of the Marketing Mix :
- Product – Anything that can be offered to a potential customer that fills a want or need.
- Price – The marketing mix factor that controls the volume of sales.
- Place – The distribution of products and services at the right time and in the right place.
- Promotion – Activities undertaken by a business to get the message out about its product or service to the target audience.
It is worth noting that many times companies will consider ‘people’ as the 5th part of a sound marketing mix.
The Focus of the Promotional Mix
The main objective of the promotional mix is to inform, remind and persuade the target audience about their need for the company’s product or service.
Why the Promotional Mix Is Important to Marketing
It is important to the overall marketing process because if customers do not know about the products and services offered, sales will be limited and the company will not survive as a result.
KEY COMPONENTS OF THE PROMOTIONAL MIX
Personal selling.
This is often referred to as one-on-one or face-to-face selling. As the name implies, it establishes a direct in-person connection with a prospective customer that may build trust and lead to a sale; it is the only means of promotion that allows you to adjust the message as the sales situation is unfolding. The downside is that it is a very costly means of selling. Examples would be a salesman on the floor of a home improvement company or a representative in a booth at a trade show .
Advertising
This is almost the exact opposite of personal selling because it involves no direct face-to-face customer contact at all. It happens when companies make expenditures to promote their product through such things as media and the internet. The main advantage of this type of marketing is it’s a one-way conversation that helps the customer focus on the benefits of your product or service for them. As mentioned, its biggest drawback is establishing trust because of its impersonal nature. Examples of advertising are television commercials and pop-up ads on websites.
Direct Marketing
This type of marketing tries to narrow the focus to a selected group of people who would be more interested in your product or service than others. Direct marketing can generate more sales because of its specific focus and it normally does it at less cost to the company; however, this type of marketing may be ill-received due to the sheer amount of it that people receive daily. Examples of this type of marketing are e-mail and direct mail advertising campaigns .
Sales Promotion
This is actually a catch-all term that covers any type of promotions other than the ones that are specifically mentioned here. The advantage of them is that they can induce traffic and sales by changing a buyer’s perception of a product or service value. The disadvantage of sales promotions is the short-term nature of them often overshadows your company’s long-term sales goals. Sales promotions can be done by putting coupons on a flyer or snack chips being sold on a point-of-purchase display.
Public Relations
This type of promotion has to do with creating a favorable image for your company as opposed to supplying direct information about a particular product or service. The advantage of public relations is that it can raise the appeal and image of your company for future purchasing decisions in a cost effective way. It must be noted also that it is very difficult to judge the effectiveness of this promotional campaign.
Good examples of this are a company that encourages others to give to disaster relief by matching donations or that hosts a run benefitting cancer research.
Corporate Image
This is very similar to public relations except it is more direct in nature. It seeks to shape the company’s image in a very specific way; this is closely related to branding . The benefit of a corporate image promotion is it can stop a declining sales trend because of poor perceptions about your product or service. The drawback to using this method is that people may see it for exactly what it is and be further dissuaded about purchasing your product or service.
A few very good examples of this are an airline that starts a campaign to fix its perceived uncaring image after a fatal crash of one of its aircrafts or a restaurant chain that needs to fix the negative publicity of a severe food illness outbreak at one of their locations.
Sponsorship
This type of advertising is very similar to public relations in that it deals with a company’s image. It takes place when your company links itself to an event that makes it look good in the community or gives the impression your company is giving back something to the public. It can also be a non-charitable event that your product closely relates to, like sponsoring a sports team.
A sponsorship can do such things as brand enhancement if you do it in conjunction with another strong name, and it can also help your company’s entry into niche markets that are typically hard to break into. It is also normally cost effective for what your company gets out of it. The drawbacks to sponsorship are tarnishing your image if the event or team you sponsor gets caught doing something wrong, and you also have little control over the sponsorship situation.
Examples of a sponsorship are a beer company that sponsors a football (soccer) team or partnering with the Red Cross on a fundraising project after a natural disaster.
Internet Presence
How big a role are internet promotions playing in the marketing mix these days? Let’s just say that they have their own category here where years ago they were just an afterthought. There is absolutely no doubt that the internet is now a very big promotional marketing channel, and most companies are highly aware of this fact. You would have to look far and wide these days for a company that does not have a website or at least a blog . There are also many specialty businesses that have been born for the sole purpose of helping other companies with their internet presence.
A big part of using the internet as a promotional tool has to do with the rise of social media . Sure it’s free to get on and participate with such social media providers such as Facebook and Twitter , but it is far from free for businesses to advertise on social media. These providers know what a powerful tool social media has become for advertising and marketing, and it costs a fair amount for those who use it.
People often refer to the world nowadays as a digital globe because of all the high-tech things like computers and smartphones that dominate life for people. In order for companies to compete for business, they definitely need to firmly establish an online presence. The best way to do this is to have a website that is comprised of factual and relevant data to your product or service and then optimize your site to drive traffic to it. If a website is optimized for search engines (SEO) , then it will show up on the first few pages after internet users search a generic keyword.
Big companies have whole departments that specialize in building websites and driving traffic to them, but small businesses often lack an online presence and are poorly optimized to drive traffic to them. Some studies suggest that over 90% of small business websites are not search engine optimized, and it puts them at a big competitive disadvantage. If these sites were optimized, there is no doubt that their sales would increase if their product was good and priced fair. Establishing an internet presence is a big key for promoting products and services.
HOW TO ESTABLISH AN EFFECTIVE PROMOTIONAL MIX
Here are some steps for establishing an effective promotional mix at your company.
Step 1: Define your target audience profile.
Establish who the ideal match for your product is based on who will most likely consider purchasing it. You will also have to decide if you will promote your product to just the end users or if you will be better off selling to distribution companies or retail outlets.
Step 2: Define the goals of your promotional mix.
You have seen through the various promotional strategies that were introduced that the goal of any marketing mix does not necessarily have to take a direct approach to impact sales or profits, although this is always the end goal no matter what promotional strategy you use. There are times when an indirect approach will work better to increase sales than a direct approach; such is the case when a company is trying to fix a tarnished image. Think of all the types of promotions that BP did after the Gulf oil spill to give the image ‘they cared’ in order to keep the incident from running the company into the ground.
So each individual marketing campaign will have to clearly define the end result it wants to achieve and then have the proper promotional strategy put into place to achieve the desired result. Once you establish the goal of your promotional mix, it is then easier to plan the rest of it.
Step 3: Define your message.
There are two main factors that every promotional mix message has to have:
- Content – This is simply deciding what image you want to show with your product or service. It consists of both the written word and the graphics that you present to your target audience to convey the benefits of or needs for your product or service. It will normally appeal to things like a person’s need to eat healthy, ensure their safety or save money.
- Format – This is how your message will appeal to your target audience. Often you will have to think about the technical aspects of presenting your message. Formats may consist of such things as a live demonstration at a convention where you will need to consider the stage setup, lighting, and sound or a banner on a web page where you will have to consider the size and visual content of the banner itself.
Step 4: Decide how you will get the message to your target audience.
If you look back at Section 2, you were given 8 methods that are widely used to promote products and services for sale. When you are trying to establish your marketing mix, at some point you will need to choose the strategy to market your goods and services. For example, you will have to decide if you will use a coupon on a flyer to promote your landscaping services, use direct mail to sell your brand of swimming pools or sponsor a booth in a boat show to help market your marine sportswear line.
The method you choose to deliver the message to your target audience is more critical than any other part of designing your promotional mix. You have to think carefully when choosing. You probably would not want to market adult diapers using a strong internet presence because many seniors are fairly computer illiterate, but doing something like putting a coupon in a senior living magazine might work nicely.
Step 5: Determine what action you want your message to achieve.
After you have chosen the method of delivery for your promotional message, you must then decide how you want it to be actionable. It is not enough for people to just see your product or service; you want to take it one step further like having them click on a ‘for more information’ button on a promotional web page that brings them to your main site or fill out a coupon for a free trip that supplies you with their contact information for use on a future direct mail campaign.
Step 6: Determine your budget.
Your promotional budget is usually determined by a set percentage of what you are hoping the sales from your marketing campaign will be. It goes without saying that if you are working with a small budget you will have limited options at times; you may not be able to do such things as hire the most popular actor for a cameo appearance on a TV commercial.
Step 7: Define your promotional mix.
Once you have determined your budget, you can then use it to define your promotional mix. Defining your promotional mix includes sectioning it into a percentage of the overall budget.
Example: a promotional mix for a new dog toy with a budget of $10,000 might be 50% direct mail campaign ($5,000), 40% advertising in pet magazines ($4,000) and 10% point-of-purchase displays ($1,000).
Step 8: Put the plan into effect.
One you have your promotional mix plan in place it is then time to put it into action.
Step 9: Put analysis and control measures into your plan.
Lastly, you will want to be able to track your promotional mix plan to see if you got the results from it that you desired. This will help make future plans more effective. Tracking can be done by such methods as looking at coupons that were filled out on a promotional flyer, looking at the number of visitors to a promotional page on your website or through follow-up surveys by customers after purchase.
By now you should be able to see just how important the promotional mix is to an overall marketing strategy. It is a key component of the marketing strategy that must be well thought out and well executed. If your company takes the time to do this, then you stand a good chance of meeting your overall sales goals when you take your marketing message to your target audience.
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What is a Promotion Mix? - Tips and Examples
Learn more about a promotion mix and how you can implement it in SendPulse
- Promotion mix
A promotion mix is a set of different marketing approaches marketers develop to optimize promotional efforts and reach a broader audience. The marketer’s task is to find the right marketing mix for a particular brand.
In this video, Alex, a SendPulse marketer, explains how to create an effective promotion mix strategy.
Developing a promotion mix requires skills and experience in marketing. Marketers should complete various studies and gather lots of data about a particular company to come up with an effective promotion mix.
For instance, it is necessary to identify your target audience , work out a budget that you can afford for a promotion, and decide the most efficient marketing channels for your audience.
A promotion mix is a more expanded approach towards one of five elements of the marketing mix — Promotion. Other factors are people, product, place, and price.
Why is using a promotion mix important?
- Improves the effectiveness of promotional campaigns
- Helps segment the audience
- Improves communication with clients
- Informs subscribers
- Stands out from the crowd
- Improves the effectiveness of promotional campaigns. Promotion is a crucial part of any business, so companies develop a promotion mix, putting all efforts to make promotions at the right place, at the right time, and to the right audience. It helps one get the most out of their marketing resources by optimizing their budget and saving time.
- Helps segment the audience. To develop a compelling promotion mix, a company needs to identify its target audience. Potential subscribers may include various groups of people who have something in common, for example, age, gender, preferences, etc., and they all require an individual approach. A promotion mix is a key method for delivering a relevant promotion message via the most suitable channel for each segment.
- Improves communication with clients. Companies develop a promotion mix trying to speak their consumers’ language. If prepared correctly, it helps build trust between the brand and its customers. This is a crucial factor in lead nurturing and customer retention . For example, automated email campaigns help achieve these goals by responding to people’s actions instantly.
- Informs subscribers. Some promotions, on Instagram for example, aim to show the product from the best angle, and others, like SMS , emphasize the advantages of local services. When using a promotion mix, companies define the best ways to educate people about the products and services they provide.
- Stands out from the crowd. People are bombarded with all sorts of advertising at every turn. With a promotion mix, it is possible to stand out from the crowd without creating chaos in your customers’ heads. Successful companies make quality prevail over quantity, promoting their product or service at the right place and right time.
Components of a Promotion Mix
- Advertising
- Direct selling
- Sales promotion
- Public relations
- Advertising. This is a non-personal promotion of products and services. Marketers use advertising as a vital tool for increasing brand awareness. Advertisers show promotions to masses of people using email, webpages, banner ads, television, radio, etc.
- Direct selling. This is a one-to-one communication between a sales representative and a potential customer. Direct selling influences people to decide to buy certain products or services. It is one of the most effective ways of promoting your brand because the sales rep can tailor the promotion precisely to those who are most likely to make a purchase. On the other hand, this is the most expensive form of sales because companies need to pay for one person’s time.
- Sales promotion. This is a set of short-term activities that are designed to encourage immediate purchase. Sales promotions are a campaign that uses time-sensitive offers — sales, discounts, coupons, etc., to engage existing consumers and bring in a larger audience. Many companies make this a core component of their marketing efforts, though sometimes it’s the most annoying type of communication for people.
- Public relations. This type of promotional method determines the way people treat the brand. Companies using PR try to build a firm and attractive brand image by planting interesting news stories about their activities in the media. Public relations are not fully controlled by the company, though, as some reviews and webpages may negatively highlight the brand. If a company adequately solves these issues, people will reward them with positive word-of-mouth consideration.
How to Use SendPulse for Promotion
Web push notifications, messenger marketing.
You can cover some of the promotion mix components with SendPulse. Let’s find out which marketing channels you can implement in your promotion mix.
This marketing channel allows you to send promotional emails , newsletters , trigger emails , follow-ups , and more. Avoid monotonous promotions because users’ inboxes are often overwhelmed with sales emails . Send email campaigns that provide value to the customers, not only put your product in front.
Send time-sensitive offers to your audience to impulse quick sales. Try to implement an SMS campaign in your promotion mix because it has huge open rates.
Follow up on the success of your email marketing or drive visitors back to your website with this technology. Send web push notifications to inform about new products, discounts, news, and updates.
This channel allows businesses to have conversations with people in messengers . SendPulse allows marketers to create chatbots for Facebook Messenger and Telegram app to automate answering clients' questions, collect orders, register them for events, and promote products. You can create three chatbots and send 10,000 messages to unlimited number of subscribers each month for free.
Promotion Mix best practices and Tips
- Identify the target audience
- Follow a five P’s rule
- Provide people with useful information
- Use appropriate marketing channels
- Rely on the right promotion mix elements
- Implement segmentation
- Monitor marketing trends
- Identify the target audience. Determine your target audience and take advantage of the promotion mix tactics. Create your customer profile to find out how to provide people with the products they need.
- Follow a five P’s rule. Five factors form promotional marketing success: what you sell (Product), how much you want for it (Price), how you offer it (Promotion), where you sell it (Place), and whom you sell it to (People). Work on these five P’s of marketing and give your customers what they need at the most convenient time.
- Provide people with useful information. Demonstrate the products and services you sell. Explain what makes them so unique and why customers should choose yours and no one else’s products. Create reviews comparing your product with competitors’ products.
- Use appropriate marketing channels. Find out which channel of communication is the most convenient for your audience. Try delivering the same message through different channels and examine which performs best with your customers.
- Rely on the right promotion mix elements. Personal selling is usually useful for only small businesses due to its high cost and low outreach. Every business can afford to display advertising and email marketing, though. Develop a balanced system of communication with your audience that fits your business well.
- Implement segmentation. This tool targets the audience by dividing it into smaller groups based on similarities. With SendPulse, segmentation works with emails, SMS, and web push notifications.
- Monitor marketing trends. As internet marketing evolves, new channels for communication with customers appear. Follow marketing trends to be able to reach your customers the way they like it.
Promotion Mix Example
- Personal selling
- Direct marketing
Let’s take Nike’s promotion mix as an example and learn how they use each of the promotion mix components.
- Advertising. In advertising campaigns, Nike aims to reach large target audiences. The brand invites celebrities who represent the image of an ideal consumer. Potential customers associate themselves with famous ones, and this motivates them to trust the brand and communicate with it.
- Personal selling. Nike’s selling takes place in their stores. Trained store personnel assist consumers, provide details on the company’s products and stimulate visitors to buy their products. Besides, Nike’s employees help customers find the right Nike product and promote the company through the use of personalized services.
- Sales promotion. Usually, Nike’s sales promotions include special discounts for a targeted audience. The brand motivates their customers with the savings they can have when they buy discounted products. After that, they create a demand for purchasing more products using those bonuses, turning new customers into loyal clients.
- Public relations. Nike developed a social responsibility strategy, in response to global ecological trends. Besides, Nike sponsors numerous sports events that build a better brand image in the eyes of their audience.
- Direct marketing. Nike uses direct marketing to promote its products among sports organizations in universities, colleges, schools. Marketers call this lead nurturing.
Last Updated: 28.02.2023
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Promotion Mix
The term ‘promotional mix’ is used to refer to the combination of different kinds of promotional tools used by a firm to advertise and sell its products.
The main promotional tools or activities which make up promotion mix are personal selling, advertising, publicity and sales promotion. These are also known as elements of promotion mix.
Philip Kotler opines, “A company’s total marketing communication mix also called promotion mix consists of specific blends of advertising, personal selling, sales promotion, public relations and direct marketing tools that the company use to pursue its advertising and marketing objectives.”
The concept of promotional mix assumes that there is a variety of means for communicating with consumers. Promotional mix refers to the combination of various types and amounts of various forms of promotion used by a marketer.
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The final selection of them depends upon the jobs assigned to promotion and the environment in which they are performed.
Learn about:-
1. Introduction to Promotional Mix 2. Meaning of Promotion Mix 3. Definition 4. Scope 5. Concept 6. Objectives 7. Components 8.Significance 9. Factors 10. Strength and Weakness.
Promotion Mix: Meaning, Definition, Concept, Scope, Objectives, Components, Factors, Strength and Weakness
Promotion mix – introduction.
Communication is a must in marketing process. The manufacturer (communicator or source) transmits the message to the target consumer through mass communication methods —advertising, personal selling, sales promotion and publicity—in order to create the demand for the product. This is invariably called promotion.
Promotion influences demand by communicating pro-product and pro-company messages to the market. A promotion strategy involves the coordination of ail communication efforts aimed at specific audiences—consumers, dealers, the government shareholders and so on. The most critical promotional question facing the marketing manager concerns the proper mix of communication methods—advertising, personal selling, sales promotion and publicity.
The promotion mix is usually coordinated on a campaign basis, making the campaign, the relevant unit of the promotion strategy campaign may last for a short fixed period, i.e., a few week, months or a year or if successful, it may run over a pretty long period, several years. The most desirable marketing effort includes a total campaign with one unified theme. It is a coordinated effort of unifying various promotional strategies.
The four promotion mix currents—advertising, personal setting, publicity and sales—promotion are more or less used at every stage in the selling process, but their intensity differs at different stages and at different periods. Publicity is generally effective at the awareness stage. Advertising becomes less and less effective over a period of time. Personal selling is more effective as consumer needs dictate a more personal relationship. Sales promotion may be effective in providing added incentives for buyer’s action.
To a marketing manager, it is difficult to arrive at the best kind of promotion mix because results of communication efforts are hard to measure and it is very difficult to understand what a particular medium will do at a particular time for one product as opposed to another. Most marketing managers select more than one channel to promote a product. Their choices are affected by a number of factors.
Promotional Mix – Meaning
Promotion is an important part of the marketing mix of a business enterprise. It is the spark plug of the marketing mix. It is a process of communication involving information, persuasion, and influence. It includes all types of personal or impersonal communication with customers as well as middlemen in distribution.
The purpose of promotion is to inform, persuade and influence the prospective customers. Personal selling, advertising publicity and sales promotion are widely used to inform the people about the availability of products and create among them the desire to buy the products.
Non business enterprise can market its products unless it undertakes promotional activities effectively. The prospective customers have to be informed about the product its features, utility and availability. The need for promotional activities has increased because of stiff competition, widening of market and rapid changes in technology and tastes of the customers.
The term ‘promotional mix’ is used to refer to the combination of different kinds of promotional tools used by a firm to advertise and sell its products. The main promotional tools or activities which make up promotion mix are personal selling, advertising, publicity and sales promotion. These are also known as elements of promotion mix.
In the modern business world, big business firms cannot depend upon a single promotional tool. They have to make use of all the promotional tools in different degrees depending upon the nature of produce, nature of competition and kinds of customers.
The marketing manager is supposed to decide about the use of various promotional activities and allocate budget for them, while taking a decision about promotion mix, two factors need adequate consideration. Firstly, a combination of promotional activities is to be used because any promotional tool, used alone, may not prove fully effective.
Secondly, all promotional tools are not of equal importance and their importance m iv change with the change in business environment.
There is no tailor-promotional mix for a firm. Every firm has to design its own promotional mix, i.e., to determine, the various promotional tools to be used for promoting the sale of its products. The most striking feature of the promotional tools is their cross-substitutability. They represent alternative ways to influence buyers. This substitutability calls for treating various promotional tool in a joint decision framework.
Promotional strategy is determined by the product market strategy and over-all marketing strategy. Various combinations, types and degrees of personal selling, advertising and other promotional tools are brought together into a promotional mix to develop the promotional strategy. For each component of the promotional mix, management has to set objectives, determine policies and formulate strategies.
Promotion Mix – Definition
Gary Armstrong defines promotion mix as, “A company’s promotional mix includes advertising, personal selling, sales promotion, public relations, direct marketing. It also includes product design, shape, package, colour, label etc., as all these communicate something to buyer.”
Promotion is a process of communication involving information, persuasion, and influence. It includes all types of personal or impersonal communication by a producer with prospective customers as well as middlemen in the distribution network.
The purpose of promotion is to inform, persuade and influence the prospective customers. Personal selling, advertising, public relations, sales promotion and direct marketing are widely used to inform the people about the availability of products and create among them the desire to buy the products.
Promotion is a form of corporate communication that uses various methods to reach a targeted audience with a certain message in order to achieve specific organisational objectives. Nearly all organisations, whether for-profit or not-for-profit, in all types of industries, must engage in some form of promotion.
Such efforts may range from multinational firms spending large sums on securing high-profile celebrities to serve as corporate spokespersons to the owner of a one-person enterprise passing out business cards at a meeting of local business persons.
Promotion is communication from a marketers to the prospective buyers in the market. It tries to instil into buyer’s minds images (through advertising, personal selling, sales promotion and publicity) that make them buy the product.
Promotion Mix – Scope of Promotion Mix in Different Areas
Promotion basically deals with outer world and therefore comprise of more and more communication strategies and tools for attracting customers.
Scope of promotion mix can be stressed with the help of following key points :
1. Advertising:
Advertising involves turning attention of third parties towards product for the sole purpose of sale.
Hence it can be stated that anything and everything that turns the attention to an article or service or an idea might be called as an advertisement.
American marketing association defines advertising as, “any paid form of non-personal presentation of ideas, goods or services by an identified sponsor. Advertising is a prime part of promotion mix.
2. Personal Selling:
Art of personal selling is defined by D.D.Couch as, “science of creating in the mind of your prospect a desire that only possession of your product will satisfy”.
It is evident that salesmanship is both science and art. As a part of art requires patience, practice and use of correct methods, devices and skills.
As a scientific process it requires mastery over certain fundamentals that pre requisites for success in selling.
3. Sales Promotion:
American marketing association defines sales promotion as, “Those marketing activities other than personal selling, advertising and publicity that stimulate consumer purchasing and dealer effectiveness such as display shows and exhibitions, demonstrations and various non-recurrent selling efforts not in the ordinary routine.”
4. Public Relations and Publicity :
“Public relations is a deliberate and continuous effort to establish and maintain favorable relations between the organization and its public .Customers, employees, stockholders, government and society.” Public relations must be healthy for future prospect of any organization. Costs involved in publications and media management is comparatively lower than advertisement and other promotional elements.
5. Other Selling Tools:
Other selling tools includes any other selling and promotions activity other than advertising, personal salesmanship, sales promotion. It mainly includes mouth publicity etc. Many corporate giants have taken keen interest in viral marketing via internet which is similar to Mouth Publicity. Thus word of mouth has been facilitated by the internet. One more form not directly connected to any other form is sponsorship to events, other brands, organized activities, sporting tournaments etc.
Indian Premier League was officially sponsored by DLF. Individual teams participating in IPL were sponsored or co-sponsored by different companies by participating in the Bidding process.
Every event now is either sponsored or co-sponsored and properly advertised for popularity of that sponsoring company.
Promotion Mix – Concept
The concept of promotional mix assumes that there is a variety of means for communicating with consumers. The term promotional mix refers to the combination of various types and amounts of various forms of promotion used by a marketer. The final selection of them depends upon the jobs assigned to promotion and the environment in which they are performed.
The concept further assumes that there are different types of promotion and each are has its advantages and disadvantages over other forms. All types of promotions are not suited to all types of business. Certain promotion types are better suited for some tasks than others. All promotional types are compatible and interchangeable.
The determination of the various elements in the promotional mix depends upon a number of factors that influence the manager decisions.
These factors can be summed up as:
(1) The amount of money available for promotion purpose;
(2) The nature of market i.e., whether local, regional, national or international;
(3) The nature of the product viz., consumer or industrial, durable or non-durable or perishable;
(4) The stage in the product life cycle i.e. introduction, growth, maturity or decline.
Advertising, personal selling and sales promotion are generally employed on the basis of the promotional strategies and the nature of the market. Generally, speaking a promotion manager employees a combination of different forms of promotion because anyone cannot satisfy the need of the company. A good combination of advertising, personal selling and other promotion methods may increase the sales enormously at a most reasonable low price. Dependence on anyone form of promotion element is seldom effective.
Promotion Mix – 5 Possible Objectives
Promotion can be used for number of reasons for ex: Promotional activity can increase sales, raise awareness or concerns about particular issues develop a brand image or alter public opinion.
The possible objectives for promotion mix may include the following:
Objective # 1. Build Awareness:
New products and new companies are often unknown to a market, which means initial promotional efforts must focus on establishing an identity. In this situation the marketer must focus promotion to effectively reach customer and tell the market who they are and what they have to offer.
Objective # 2. Create Interest:
Moving a customer from awareness of a product to making a purchase can present a significant challenge. Consumer buying behaviour depends on the type of customer so the customer must first recognize they have a need before they actively start to consider a purchase.
The focus on creating messages that convince customers that a need exists has been the hallmark of marketing for a long time with promotional appeals targeted at basic human characteristics such as emotions, fears, humor, sex etc.
Objective # 3. Provide Information:
Some promotions are designed to assist customers in the search stage of the purchasing process. In some cases, such as when a product is so novel it creates a new category of product and has few competitors the information is simply intended to explain what the product is and may not mention any competitors.
In other situations where the product competes in an existing market, informational promotion may be used to help with a product positing strategy.
Objective # 4. Stimulate Demand:
The right promotion can drive customers to make a purchase. In the case of products that a customer has not previously purchased or has not purchased in a long time, the promotional efforts may be directed at getting the customer to try the product.
This is often seen on the internet where software companies allow for free demonstrations or even free downloadable trials of their products. For customer base products, promotion can encourage customers to increase their purchasing by providing a reason to purchase products sooner or purchase in greater quantities than they normally do.
Objective # 5. Reinforce the Brand:
Once a purchase is made a marketer can use promotion to build a strong relationship that can lead to the purchaser becoming a loyal customer. For instance, many retail stores now ask for a customer’s email address so that follow-up emails containing additional product information or even an incentive to purchase other products from the retailer can be sent in order to strengthen the customer marketer relationship.
Promotion Mix – Top 5 Components (With Some Other Tools)
Promotion strategies are concerned with the planning, implementation, and control of persuasive communication with customers. These strategies may be designed around advertising, personal selling, sales promotion, or any combination of functions of these. One of the major strategic issues associated with the development of effective promotion strategy is the availability of financial resources for a specific product/market.
The distribution of the budget among advertising, personal selling, and sales promotion is another strategic matter. The formulation of strategies dealing with these determines the role that each type of promotion plays in a particular situation. Promotion strategy consists of planning, implementing and controlling communications from an organization to its customers and other target audiences.
The function of promotion in the marketing program is to achieve various communications objectives in the market segment. An important marketing responsibility is to plan and coordinate an integrated promotion strategy and to select the specific strategies for the promotion components.
It is important to recognize that word-of-mouth communications among buyers and the communications of other organizations may also influence the target audience of the company.
The promotion-mix has the following components:
1. Advertising.
2. Personal Selling.
3. Sales Promotion.
4. Direct Marketing.
5. Publicity.
Component # 1. Advertising :
Advertising may be defined as the strategy of communicating a sales message to potential customers. Advertising is one segment of a well-organized, continuous marketing plan. Effective advertising is a cumulative process that maintains current customers, attracts new customers and establishes a favorable position for the business with competitors. Advertising will neither cure slow business growth or low profits, nor will create a better business person or a well-organized business.
Advertising offers specified benefits to a specific or target audience. As part of a sound marketing plan, advertising becomes an investment in the future of the business, instead of one more expense. An effective advertisement is based on a careful analysis of the situation before money is spent. “Advertising and promotions” is bringing a service to the attention of potential and current customers.
Many products or services have failed in the market, not because of their quality, packaging or pricing, but because the potential customers didn’t know they were there, and if they did, they didn’t know what those were or how to use them. In order to sell your product or service you must promote it. One effective method of promotion is advertising.
The goals of the plan should very much depend on the overall goals and strategies of the organization, and the results of the marketing analysis, including the positioning statement. The plan usually includes what target markets you want to reach, what features and benefits you want to convey to them, how you will convey it to them (this is often called advertising campaign), who is responsible to carry the various activities in the plan and how much money is budgeted for this effort.
Successful advertising depends on knowing the preferred methods and styles of communications of the target markets that you want to reach with your ads. A media plan and calendar can be very useful, which specify what advertising methods are to be used and when.
The fashion advertisements (FAds) and strategies building for optimum sales realization are prominent among them. The FAds have a greater impact on the elite clientele group as compared to other measures used for raising the sales. The product branding and packaging technology is the core input for FAds. Attractive packaging and popular branding have a significant role in the market expansion and product promotion.
In a competitive market economy, the brands are hired by the manufactures for product marketing. In this system, new product managers have to face an uphill task. In marketing new products, it is essential to take potential as well as existing customers into confidence through an effective communication management. In the absence of building up such awareness, the new product manager gets fringe benefits while the brand owner gets a higher share in the consumer rupee.
As such, these companies may not be in a position to establish their own brand due to many weaknesses pertaining to capital, technical know-how and market guidance. The future threat in this regard can be visualized in the light of selling their product. In the long run their identity will be only as a manufacturing unit, but not as a product seller.
Packaging in the competitive product market is an important determinant as far as the buyer’s behavior is concerned. The more attractive and durable the packaging of any product, greater would be the product resistance and market demand. ‘The New packs’ may be the hard core of some FAds which could be more appealing to the target customers. It requires enough capital to invest in the packaging technology.
Advertising, direct marketing and public relations are the important tools for promoting international marketing. The process of advertising in an international business begins with a market situation analysis conducted to assess marketing opportunities for the product in the existing market. On identifying, the marketing strategies are formulated and supported by communication linkages.
Advertising strategies are developed in accordance with the marketing plan and advertisements are released according to the media plan. Hence, commercials (Ads) seen by the consumer are like the tip of an iceberg emerging from a situation analysis, trade goals and strategies that have been evolved by the marketing and advertising managers. However, it is difficult to establish whether advertising is the first or the last component in the entire process of marketing. Despite numerous research efforts on the function of advertising, a unified theory has not yet emerged.
Component # 2. Personal Selling:
Personal selling consists of verbal communication between a salesperson or selling team and one or more prospective purchasers with the objective of making or influencing a sale. Many companies feel that the personal selling is better strategy to manage the interface of buyer and seller and so annual expenditures on personal selling are larger than advertising.
However, advertising and personal selling strategies share some common features, including creating awareness of the product, transmitting information, and persuading people to buy. The personal selling is an expensive way of persuading the buyers as compared to various ways of advertising.
Salespeople can interact with buyers to answer questions and overcome objections, they can target buyers, and they have the capacity to accumulate market knowledge and provide feedback. Sales promotion consists of various promotional activities, including trade shows, contests, samples, point-of- purchase displays, trade incentives, and coupons.
Sales promotion expenditures are substantially greater than the amount spent on advertising. Direct marketing includes the various communication channels that enable companies to make direct contact with individual buyers. The common direct marketing techniques are catalogues, direct mail, telemarketing, television commercials, radio, magazine, newspaper, electronic shopping and kiosk shopping, etc. The distinguishing feature of direct marketing is the opportunity for the marketer to gain direct access to the buyer.
Direct marketing expenditures account for a large portion of promotion expenditures. Electronic shopping is one of the newer forms of direct marketing. Publicity or public relations for a company’s product, service, or idea involves communications placed commercially in the media. The objective of public relations is to encourage the media to include company- released information in media communication.
Development of an optimum promotion mix is by no means easy. Many companies often undermine the roles of advertising, personal selling, and sales promotion in a given product or market situation. Decisions about the promotional mix are often diffused among the decision-makers, impeding the formation of a unified promotion strategy. The personal selling plans are sometimes deviated from the planning of advertising and promotion.
Component # 3. Sales Promotion :
Selling is an art largely associated with the behavioral skills of the sale personnel of a sales organization. Today, selling is performed using scientific methods of product presentation, advertising and various approaches drawn to take the customer into confidence.
The efficiency of sales depends upon the type of sales person and the techniques used in selling goods or services. The consumers are the decision-makers in buying the goods and services proposed for sales and hence play key role in the sales process. There are four categories of sales that include every type of sales position.
These types of selling are:
1. Consultative sales,
2. Technical sales,
3. Commercial sales, and
4. Direct sales.
These selling categories require a specific management approach to deal with the market
Component # 4. Direct Marketing:
In direct marketing, organisations communicate directly with target customers to generate a response and/or a transaction. Direct marketing traditionally has not been considered an element of the promotional mix. It has become such an integral part of the IMC program of many organisations and often involves separate objectives, budgets, and strategies, marketer view direct marketing as a component of the promotional mix.
Component # 5. Publicity:
When the marketer makes use of a commercially significant news or editorial comment in the print media or a favourable presentation upon radio, television or stage, it is called publicity. Though publicity is a non-personal form of communication, it is not a paid form of communicating marketing message.
The major tools of promotion mix are as follows:
i. Online Marketing:
The Internet has a great effect on marketing communication programs and as well change the ways companies design and implementing their entire business and marketing strategies. Unlike traditional forms of marketing communications such as advertising, which are one-way in nature, the new media allow users to perform a variety of functions such as receive and alter information and images, make inquiries, respond to questions, and, of course, make purchases.
Additionally with the Internet, other forms of interactive media include CD-ROMs, kiosks, and interactive television. However, the interactive medium that is having the greatest impact on marketing is the Internet, especially through the component known as the World Wide Web.
Thousands of companies, ranging from large multinational corporations to small local firms, have developed websites to promote their products and services, by providing current and potential customers with information, as well as to entertain and interact with consumers.
ii. Word-of-Mouth:
The passing of information from person-to-person is referred to as word of mouth. It comprises of human communication, such as face-to-face, telephone, email, and text messaging. An organisation’s image can be projected through channels other than the formal communication process.
Of course, positive word-of-mouth recommendation is generally dependent on customers having good experiences with an organisation, and studies have shown how unexpectedly high standards of service from a company can promote recommendation.
iii. Public Relations:
It is a planned effort by an organisation to influence the attitudes and opinions of a specific group by developing a long-term relationship. Therefore, firms are concerned with customers, suppliers and dealers along with the effect of their actions on people outside their target markets. Their target are inclusive of a large number of interested public (customers, stock holders, government agencies, special interest groups).
Promotion Mix – Significance of Promotion Mix in Marketing
Promotion plays an important part in marketing. This function of marketing is dedicated towards persuading the existing and potential customers to make a purchase of a given product or service.
Promotion is termed as Marketing Communication Mix by famous author and Marketing Guru Philip Kotler.
He stated following functions of Marketing Communication Mix – 1) Advertising, 2) Sales promotion, 3) Public relations and 4) Salesmanship.
Final aim of any organization is making an increase in profits through healthy competition and for helping this aim, promotion comes in picture.
It is a strongest tool for increasing sales and profits any organization can have. It’s an action oriented program with an intention of persuasion.
Significance of marketing promotion mix is highlighted with the help of following points:
1. Profit Maximization and Increase in Sales Volume:
This is the ultimate aim of any organization. Every organization strives for the achievement of this goal.
Without this, the sole purpose of establishing a company will lose its significance.
Hence every company makes it a primary objective and directs every department to achieve it.
All the other objectives are secondary and only helps in achieving this primary aim.
Every part of the world now is full with promotional and saleable material, both in audio and visually accessible format looking for maximum reach of audience.
Millions of dollars, Euros, Rupees are getting disbursed for the purpose of maximum promotional activities. Moreover many production houses of Movies are spending crores of rupees for a promotion of a single movie. Such is the vital role of promotional activities in modern highly dynamic scenario of globalization and technology advancement.
Corporate managements are ready to spend huge amounts for promotional activities and people are also ready to buy such products whose promotional activities are attractive.
Social activities are rising like a jungle fire for promotion and sale purpose.
It is estimated that after five years, half of consumer product sale will effect from social networking and e-commerce web sites and portals. People are buying high value items like LED TV, other consumer durables like Refrigerators on a single click. Therefore marketing team must consider this growing demand for sales promotion and should accordingly make arrangements so that they remain in competition which is growing like a virus.
According to a survey conducted in India regarding importance of internet it was seen that usage of internet for product promotion as well as online purchase has increased tremendously.
2. Customer Base Widening:
Promotion is important for widening, maintaining and saving customer base which is a tangible form of profit figures. This activity becomes important because of the widening of market. All products are now sold all over the world with very advance logistics and transportation facilities.
Promotion is now done for not only profit maximization but for capturing major share in the market. For attracting more and more markets, for satisfying and creating demands for products.
Promotion has gained importance because number of prospective buyers have increased marginally and so this class of customers will be attracted towards those who have better promotional tactics.
Apple is one of the most popular brand in the world which only with the promotion created miracle.
Today, Product launching event of Apple is one of the most popular video and viewed on the YouTube by millions of people. Apple is the most trusted brand in world and it has become a leader in promotional techniques and persuasion and attracting customers without negotiation on prices.
Apple never offers discount on any product and in spite of that people are ready to buy apple product without asking for discounts and youth today is crazy about apple products and feel proud to own apple i- pod or i-phone. This is the effect of promotional and persuasion techniques.
3. Penetrating Cut Throat Competition:
Cut throat competition is an ill effect of modernization of business and globalization. It is an outcome of thirst for more and more profit and market share.
There is an excessive competition in every sector from agriculture to industrial with more or less degree.
With the introduction of new products every day in a market full of thousands of producers already selling same product.
In order to meet the competition, every producer has to persuade customer about their specialty of producing that particular product. Promotion is a direct as well as indirect instrument of attractive packaged inducement which strikes when iron is hot and for favorable decision. Customers are clever and know what to purchase, so producer must be clever to satisfy customers demand.
4. Only Tool Left in Times of Depression:
Depression comes with some inherent effects on economy which includes rise in inflation, low demand for luxurious items, high demand for basic necessities, unemployment, etc.
Depression is a best example of showing the importance of promotion in marketing management. In poor economic conditions, organization needs promotional activities in order to sustain low profitable situations. In times of lower sale and profits high promotion can bring stable results which are essential in times of this type of crisis, hence the significance of promotion. Cost involved in promotional activities are huge and are increasing day by day.
It is to be observed here that promotional expenditure must be strictly monitored and controlled because they contribute highest marketing expenses. All major corporate giants are making studies and research for controlling these costs and looking for new avenues which are cost effective and in spite of that, effective in bringing the results. Vodafone introduced animated zoo zoo characters in their advertisements which become massively successful and sale boosted marginally with this promotional technique which was comparatively cost effective and simple.
5. Attribute of the Face of Company:
If product is the heart of the company then the promotion mix is the face of company which displays the purity of the heart with simplicity and lucidity, which in turn creates stability and healthy growth.
Person sees face of other person and not heart hence if face is simple, attractive and persuasive then other person is attracted easily and with little efforts .Hence promotion is very important in marketing a product because it is the major factor in buyers decision. It attracts customers to doorstep of company.
Thus significance of promotion must be understood in this light of good outer relations, and must be applied in forming marketing policies.
Simple sign of ‘√’ is now responsible for millions of gross profit of NIKE Company; similarly one simple Tree of woodland is attracting customers all over the India.
This is important for study because how simple promotional techniques can become so effective in assisting sales and profits.
Promotion Mix – 6 Major Factors that Helps Marketing Manager in Deciding the Promotional Mix
There are various factors which are usually considered by the marketing manager in arriving at the promotional mix:
1. Stage of a Product Life Cycle:
The stage in the life cycle of the product is one of the determinants in deciding the promotional mix. The various stages in the product life cycle are- (i) innovation, (ii) growth, (iii) maturity, (iv) saturation, (v) decline and (vi) obsolescence. Every product passes through these stages. The marketing manager has to adopt different promotional mix in different stages.
At the first stage, all types of promotional efforts— advertising, publicity, sales promotion and public relations are necessary because these efforts are aimed at informing the target consumers of the presence of the product in the market. Substantial expenditures on advertising are vital to inform the public on the other hand, personal selling programme is also undertaken that aids in generating product acceptance among retailers, wholesalers, industrial and institutional buyers.
Sales promotion efforts are made during growth period in order to check the entry of competitors. During the maturity stage, heavy expenditure on advertising and personal selling are required to fight competitive situation and to maintain their share of market. During saturation and declining stages, the promotion expenditures are reduced to a great extent.
Only a minority of organisations attempt to prop up lagging product with high promotional advertising. Some use aggressive personal selling programme to further penetrate the specific market segments where demands or the product exist. In obsolescence stage, all promotional efforts are stopped and it is thought better to withdraw the product from the market or substitute the product with the new product.
(2) Type of Product:
The characteristics of a product may also dictate its natural audience. A non-differentiated product (detergents or soaps) may be promoted with psychological advertising. A product with hidden emotional qualities of suitings, clothing, etc., may be given a careful and subtle mass media promotion. The product is generally classified as consumer product or industrial product. The classification of product or service is an indicator of the most appropriate type of promotion mix that may be required.
(a) Consumer Goods:
Ordinarily, there are three types of consumer goods — convenience, shopping and speciality. Each one requires a separate type promotion. Convenience goods are those goods that are frequently purchased, are low in cost and are bought at most accessible retail outlet as soon as the need for the product is felt. This type of goods calls for emphasis on advertising and sales promotion efforts.
Such items have a large and geographically dispersed market, advertisement is the most suitable form of mass communication for people to react at large at the lowest cost per contact. Such convenience items which are sold on self-service basis, sales promotion techniques are the best promotional devices.
Products purchased after careful consideration of quality, price style and durability are classified as shopping goods. The product, in this case, has a high unit value and are not frequently purchased such as clothing and furniture. The marketer of shopping goods place more emphasis on personal selling because customer in purchasing such items require an advice from the salesmen and a comparison of goods with the other brands of the same product in the same store or in different stores. A good salesmanship will do the needful. However, advertising is also necessary just to inform the public of the existence of the product.
High unit value and infrequent purchase are also the characteristics of speciality goods, if it is a branded item, which the consumer has become convinced is superior to all competitive brands. Here, the marketer employs a combination of the three primary methods of promotion — advertising, personal selling and sales promotion.
Personal selling technique helps the marketer in maintaining the image of the product. Advertising also serves the same purpose and reminds the people to keep the product in mind. Sales promotion techniques maintain the image of the product and remind consumers, of the product.
(b) Industrial Goods:
Industrial goods are generally classified in five categories — raw materials, fabricating materials and parts, operating supplies, installations and accessory equipment. In general, all types of industrial goods require more emphasis than consumer goods on personal selling because these goods are purchased and sold in bulk and moreover, salesman offer advice and assistance at the time of supplying such goods and in the post- sales period.
A computer supplier, unhesitatingly, allow his salesmen to spend many hours with an account after the sale has been completed just to ensure that the equipment is operating properly and the account is using it in a proper manner.
Advertising and sales promotion are important elements of the promotion mix for some. Advertising is helpful for salesmen in convincing the prospect about the product and the organisation and its product line. Once the prospect has achieved familiarity about the product and product line of the organisation through advertisement, the salesperson finds it easy to get an appointment.
Some industrial seller use advertising to generate prestige. As far as sales promotion devices are concerned, the sellers of industrial goods use these devices not as extensively as the marketers of consumer goods. Some marketers of industrial goods rely heavily on displays in trade fairs, exhibitions and conventions. Some use price deals such as ‘Rupees off or ‘two for one’ or “buy two get five free” or ‘gifts’ offer to generate sales. Still others allow premiums and trading stamps to the buyers.
(3) Target of Promotion:
The use of promotion mix is also affected by the type of person, to which it is directed. Promotion may be directed at four different groups — wholesalers, retailers, industrial consumers and final consumers. The right choice of promotion blend for each group is different.
(a) Promotion to Wholesalers:
As wholesalers are less in number and more conscious to demand and cost, they respond to economic arguments. Any type of promotion which the producer intends to direct at retailers and final consumers will be sufficient promotion for wholesalers but they are more conscious about the personal selling representatives who cements the relationship between producer and wholesalers.
(b) Promotion to Retailers:
If number of retailers are less, the personal selling may be feasible to manufacturers and wholesalers.
In case the number of retailers are numerous the advertisings in trade magazine and newspapers are valuable. Sales promotion activities such as discount on sales or gifts on bulk purchases, etc., also play valuable roles in marketing the goods. If the product is consumer item of high value, the bulk of promotion efforts is to serve the retailers through sales personnel.
Personal selling will also be valuable where the product requires after-sales service or possesses some technical characteristics, because the salesperson may have to answer the retailer’s questions about the technical characteristics the promotion that will be directed towards final consumer, the retailer’s own part in selling the product, and important details concerning price, the marketers and promotional assistance.
In other words, promotion to retailer is mainly informative in nature which he passes on to consumers. The promotion to retailers must also be persuasive so that his interest in selling the product may not be lost. In most cases, personal selling is the main promotion efforts to retailers because marketing mixes may have to be adjusted drastically from one geographic territory to another to meet competitive situations and moreover it creates and maintains good channel relationship.
(c) Promotion to Industrial Consumers:
Industrial customers, being less numerous than final consumers have a justification for a promotion blend emphasising personal selling because the personal sales representatives may be more flexible in adjusting their company’s appeal to suit each customer. They supply the necessary information as desired by the customer. Although personal selling dominate the scene in industrial marketing, advertising is also used widely, mainly for economic reasons.
(d) Promotion to Final Consumers:
The large number of ultimate consumers practically force retailers, wholesalers and manufacturers to use the mass selling techniques in their promotion blends. So, advertising is preferred in most cases because it establishes brand preference to such an extent that little personal selling may be required. Sales promotion techniques are also used extensively. Self-service, discount, gift and novelties attest to this. Advertising may even be the way to supply the necessary information to those who are interested in seeking them.
(4) Size of Budget:
The amount allocated for the promotional efforts is an obvious limitation on the choice of promotional channels. If the budget is small, a firm cannot spend more on promotional activities because it cannot buy enough mass media advertising worth the count. If accounts are limited, the organisation can safely rely on personal selling and publicity, and can manage within its resources. But, on the other hand, if accounts are numerous the organisation will prefer advertising in local or regional newspapers, or it may use local radio or TV.
On the other hand, if size of budget is big enough, the organisation may use national newspapers, or TV and radio. It will be economical per contact but it will require lump sum amount which a small firm cannot afford. Some smaller manufacturers, out of necessity rather than choice, use personal selling as their major promotion method.
A salesperson may be employed for Rs. 5,000 p.m. or so plus expenses while the sponsoring of a single TV., broadcast may cost a sizeable amount of money. A small firm having small promotion budget may also use sales promotion, public relation and direct mail, over and above personal selling.
The size of promotion budget may have an impact on the composition of the promotion mix. Organisations with small budget may be forced to use promotion methods which are less effective because they are not in a position to afford heavy expenditure on other methods which are more effective such as advertising in national newspaper and national network on TV and radio which can be used only by the organisations that allocate a big amount for their promotional efforts.
Smaller organisations prefer personal selling and publicity. They pay commission to salesmen which is payable only when sales are affected. Sometimes family members invest their time in personal selling. Though personal selling is costly per contract than the advertising, yet it is used because the payment is not made in one lump sum.
Thus, size of budget leads the management to use the methods which would not be employed otherwise even though they are less effective.
(5) Push and Pull Strategy:
In deciding on ideal promotional mix, the key variable is the direction of influence in the distribution marketing channel. In some case, direction of influence is towards the middlemen whereas in some other cases, it is an end-user.
This characteristic of the variable is called push-pull strategies:
(a) Push Strategy:
In push strategy, generally used in industrial product marketing, products have a high unit value and need adjustment for consumer needs. It is aimed at the middlemen with the goal of getting them to aggressively promote the manufacturer’s brand to consumers. This strategy can favourably be used when consumers rely heavily on the advice of dealers for the product use.
Thus, specially stores often emphasise the push strategy with a lesser emphasis on advertising. In this strategy, personal selling is the favoured promotional channel. Dealers promote the product line aggressively for which they are granted high margins and an exclusive distribution territory.
(b) Pull Strategy:
A pull strategy, in its extreme form, emphasises the importance of mass communication. It is aimed at stimulating the end-consumer demand to a sufficient degree so that the consumer may ask retailers for the product and retailers are forced to stock the brand in order to please their customers. The retailer will ask the wholesaler to supply the brand demanded by the consumer and the wholesaler, naturally, will ask the manufacturer to supply. Thus, this strategy stresses on advertising in order to create a heavy demand of goods.
The promotional campaigns of most manufacturers are a blend of the two approaches. Deciding where to place the emphasis is not always easy; the choice of approach depends on the nature of the product and the buying habits of consumers. Push strategy is most effective where units value is high whereas pull strategy is suitable for products having low unit value and are meant for broad public distribution. In most cases, marketers use both strategies; but one is always emphasised.
(6) Organisational Philosophy:
The philosophy of the organisation too, affects the promotion mix. Thus, it is evident from the above discussion, that no promotion blend is suitable for all situations. Each mix should be developed as a pact of marketing mix. A blend of personal selling and advertising may be expected when a firm sells consumer and industrial goods, More emphasis on advertising should be on advertising promoting consumer goods and or personal selling for industrial goods.
Promotion Mix – Strengths and Weaknesses of Promotional Mix
The strengths and weaknesses of major promotional mix are discussed as follows:
1. Publicity/Public Relations – Has high credibility; can create goodwill; is low in cost; reaches many audiences, especially difficult-to-reach audiences.
2. Personal Selling – Flexible, Highly targeted, interactive and bidirectional, message and presentation can be customised and personalised, measurable, offers immediate feedback, takes the consumer closer to sales, effective in building relationships, suitable for certain product types and niche audiences.
3. Online Marketing – Is direct, low in cost, interactive and two-directional, personalised, up-to-date, targeted, less intrusive, and less commercial.
4. Advertising – Informs, persuades, reminds, and reinforces mass audiences about a product; builds brand identify.
5. Direct Marketing – Highly targeted, measurable, customisation and personalisation possible, suitable for certain product types, possibility for two-way communication and building long-term relationships.
6. Sales Promotion – Is relatively less expensive than advertising, leads to immediate results, has a direct impact on sales and is measurable, helps to clear excess inventory, helps to nullify competitive promotions, generates excitement, gets trade and salesforce support.
Weaknesses:
1. Publicity/Public Relations – Organisation has little control over what gets publicised, often has hidden costs, results are difficult to measure, does not have a direct impact on sales.
2. Personal Selling – Expensive, unsuitable for large audiences.
3. Online Marketing – Smaller audiences, unsuitable for non-savvy audiences, some forms like spam e-mails or pop-ups can be quite intrusive.
4. Advertising – Expensive, within a cluttered media with high noise level.
5. Direct Marketing – Expensive, not suitable for reaching large audiences.
6. Sales Promotion – Is gradually getting cluttered and expensive, has short-term results, makes consumers deal-prone, can erode brand equity and loyalty.
Related Articles:
- Determining Optimal Promotion-Mix: 4 Steps | Promotion | Marketing
- Promotion: Meaning and Developments | Product
- Promotion of a Product (With Diagram)| Marketing
- Sales Promotion: Meaning and Types
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Introduction To Marketing Mix Marketing Essay
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References:, if i would be joe then i would apply the 7 p’s marketing mix to the corner store in the following way:, physical layout, joe could have used the following models to enable him to obtain information prior to opening the store., postal surveys, telephone interviews, online surveys, face-to-face surveys, focus groups, test marketing, joe could have used the following models to learn, respond or take actions against., the primary market research that i have undertaken prior to opening a retail store like joe’s is discussed below., the secondary market research that i have undertaken prior to opening a retail store like joe’s is discussed below., for an established retail business, research should not just be about surveying your current customers or when conducting standard customer service research., marketing orientation, marketing orientated approach, product orientated approach, joe’s approach was also product oriented. he did not consider the needs of customers. that caused the failure of joe’s corner store., cite this work.
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Marketing Mix, Essay Example
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Marketing decisions made by a company when shaping a suitable proposition for the potential customer can be organized into four major groups. These are Product, Price, Place and Promotion. The actual meaning of those four is creating the right product, selling it at the right price and in the right place, with the use of the most effective promotion possible. When being in the process of bringing some particular product to the market, the organization is supposed to make choices concerning the product that will eventually influence the effectiveness of a chosen strategy. The four P’s are a sort of parameters that are under marketer’s control. “The goal is to make decisions that center the four P’s on the customers in the target market in order to create perceived value and generate a positive response” (Net MBA Business Knowledge Center).
The term ‘Product’ refers to both tangible physical goods and services. The choices that are made concerning the product can be: brand name, design, functionality, protection, maintenance, packaging, guarantee, accessories and services. To define what the product is supposed to represent questions may be asked like: What does the consumer want from the product/service? What requirements does it satisfy? What characteristics is it supposed to have to meet customers’ requirements? How and where will the customer exercise it? What does it look like? How is it different from the one product of your competitors?
The term ‘Price’ refers to the choice of appropriate approaches to forming the actual price of the product. It is no secret that each person pays a lot of attention to the price of the product being bought. Each customer weights benefit the product is to bring versus its cost in order to make a wise decision. It is also important to mention that while all the other three aspects of marketing mix are costs, price is the only one which creates sales revenue. Investigating consumers’ attitude toward pricing is significant since it specifies how they value what they are looking for, as well as what they would like to pay for it. Naturally, company’s pricing policy depends a lot on the circumstances in which the organization is operating. The possible decisions marketer is making concerning the price are: pricing strategy (demand-, cost-, profit- or competition- based methods), suggested retail price, volume discounts and wholesale pricing, seasonal pricing, bundling, price flexibility and discrimination, etc. The questions that can be asked in order to understand the pricing element better are: What is the value of the product or service to the purchaser? Is the client price sensitive? What discounts should be proposed to customers, or to other particular segments of your market? How will your price contrast with that of your competitors?
‘Place’ element of the marketing mix is the one being concerned with a range of methods of transferring and storing goods, and then making them accessible to the consumers. Significantly, approximately a fifth of the product’s cost goes on its distribution. What value do product’s exceptional features have if it is stored badly, or if the potential customers have no way to get it? Delivering the right product to the proper place at the right time requires creation of a distribution system. Once again, the choice of convenient distribution methods depends greatly on present circumstances. When referring to ‘place’ marketer has to make decision on distribution channels and centers, transportation, warehousing, order processing, etc. Understanding of this particular element of the marketing mix can be obtained if giving answers to such questions as: Where do buyers search for your product or service? In what kind of stored do they look for the product? How can you contact the appropriate distribution channels? What do you competitors do, and how can you benefit from that?
‘Promotion’ refers to the actual process of communicating with consumers. It is concerned with presenting customers with information needed to make a decision. The fact is that, even though being sometimes extremely costly, promotion can increase the sales significantly, so that advertising and other costs are spread over a larger output. If being properly organized and successfully implemented, promotion can be extremely cost-effective. Promotion is aimed at generating the positive customers’ response and deals with decisions on promotional strategy, advertising, public relations and publicity, sales promotions, marketing communication budgeting, etc. These are the questions that can be helpful when defining this particular element of marketing mix: Where and when can one get across your marketing messages to the target market? How will you reach your audience in the most effective way possible? When is the best time to promote? Is there seasonality in the market? How do your competitors promote their product and how can it influence your promotional strategies?
Such a great profit-oriented company as Nike, which is the global sports shoe company and is the largest seller of athletic footwear in the world, does surely pay a lot of attention to the development of its marketing mix. If referring to the ‘product’ element of Nike’s company, we can talk about how Nike proposes broad choice of shoe, apparel and equipment products. The company also market head gear under the brand name Sports Specialties. Nike’s pricing is considered to be competitive to the other sport shoe sellers. The pricing is established on the basis of premium segment as target customers. Nike shoes are available all over the world in the multi-brand and the exclusive Nike stores. “Nike sells its product to about 20,000 retail accounts in the U.S. and in almost 200 countries around the world. In the international markets, Nike sells its products through independent distributors, licensees and subsidiaries” (Cuizon, 2009). Nike’s promotion is greatly concerned with finding reachable store locations. It also involves targeted advertising in the newspaper and generating strategic associations. For example, Nike cooperates with a number of famous athletes that serve as brand representatives. Nike’s brand image, name and the trademark swoosh, position the company as one of the most identifiable brands in the world.
Adidas, Nike’s biggest competitor, is also one of the most recognizable brands of nowadays. As well as the Nike Company is, Adidas is oriented to obtaining high profits. Nowadays Adidas has a reputation of a strong brand for sports apparels. The company supports its brand by continually advancing and improving products’ original features and quality to please and satisfy its customers. If referring to Adidas pricing policy, it uses the market skimming method, positioning itself as a shopping product with prices lower than that of its major competitors. Adidas sportswear can be found in specialized brand stores, sporting outlets and in the internet. Company’s major promotion objective is to become world number one sportswear company. Promotion is implemented mostly through advertising in the mass-medias and internet, and through supporting various sport events.
Cuizon, G. (2009, February 13). Audit on Nike’s Marketing Strategies: The 4Ps – Product, Price, Place and Promotion. Retrieved July 6, 2009, from http://corporate-marketing-branding.suite101.com/article.cfm/audit_on_nikes_marketing_strategies
Net MBA Business Knowledge Center. (2007). The Marketing Mix (The 4 P’s of Marketing) . Retrieved July 6, 2009, from http://www.netmba.com/marketing/mix/
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Essay On Promotional Mix
The promotional mix is one of the 4 Ps of the marketing mix. A marketing mix is the combination of the elements of marketing and what roles each element plays in promoting the products and services and delivering those products and services to the customers. It should be designed in a way that it will inform the target market about the values and benefits an organization’s products or service offered. There are various tools and elements available for promotion . These are adopted by firms to carry on its promotional activities. The marketer generally chooses a combination of these promotional tools. The main aspects of a Promotional Mix are as follows : In simple words, public relations mean maintaining public relations with public. By maintaining …show more content…
In this essay, the author
- Explains that since chai pe charcha is a new brand, the company needs to follow proper promotional mix to succeed in the market.
- Explains that a marketing mix is the combination of the elements of marketing and what roles each element plays in promoting the products and services.
- Explains that advertising is a form of non-personal promotion, wherein companies pay to promote ideas, goods or services in various media outlets.
- Explains that sales promotions are used to increase sales, inform potential customers about new products and create a positive business or corporate image. chai pe charch can use special ‘tea citizen card’ for rewarding its customers.
- Explains that personal selling involves face-to-face interaction between seller and buyer for the purpose of sale. it is suitable for complex products where buyer wants to interact with the manufacturer.
It is suitable for sale of complex products where buyer wants to interact with the manufacturer.The personal selling does not mean getting the prospects to desire what seller wants but the concept of personal selling is also based on customer satisfaction. It is one of the most expensive forms of promotion. When the seller and buyer come together this may improve relation between the customer and seller. Examples: personal meetings, telemarketing, e-mails, and correspondence Since Chai pe Charcha is a new brand, for the purpose of entering into the market, the Entrepreneur will launch some outlets in limited cities. Later as and when the sales increases, the company can open many more outlets. But for this the company has to follow proper promotional mix to succeed in the market. Along with the above promotional mix, the company can also use other promotional mix such as creating a product website on the internet with all information embedded to explain to consumers about the varieties of tea, its quality, outlets, etc. and appointing print and electronic media channels for marketing of tea
- explanatory
- Explains that the marketing mix consists of product, place, price, and promotion, which are often referred to as the four p's.
- Explains wikipedia contributors (2006). marketing mix. retrieved march 7, 2006.
- Summarizes how the article developing your marketing mix defines the marketing mix as a combination of marketing tools that are used to satisfy customers and company objectives.
- Explains the elements of the marketing mix: product, place, price, and promotion. the primary purpose of promotion is to affect customer behavior in order to close the sale.
- Opines that product mix is the most essential element of marketing strategies of a company. interface is well known as the global best provider of commercial carpet tiles.
- Opines that for interface to prosper and become a world leading carpet tile provider, pricing should be the most essential element of its marketing strategy.
- Opines that interface's esa should include supplying carpet tiles to the accurate markets at the right time. interface should make a proposal to make continuous transformation in its marketing strategies as per the changing marketing states.
- Describes belz, peattie, et al., sustainability marketing: a global perspective, hoboken, n.j.
- Explains gupta's innovative marketing strategy balancing commercial goal and corporate social responsibility.
- Explains that marketing mix is an assembly of different elements of marketing, such as price, place, product, and promotion.
- Explains that the company should use digital platforms like facebook, company’s website, etc. to market its products.
- Explains that kapferer, bastien, and lamb, c. w. 2009, the luxury strategy: break the rules of marketing to build luxury brands.
- Explains the marketing mix, which is basic to any organization, can be considered the ‘controllable’ variables that every business encounters.
- Explains that marketing is essential when a new product or service is launched into the market place. the third controllable factor within the marketing mix is place, based on where the consumer is going to find and buy the product.
- Explains that monster uses indirect distribution, which involves steps to get the product from manufacturing stage to consumer. monster products can be easily found in gas stations, supermarkets, department stores, etc.
- Explains that monster can be seen selling and promoting their energy drinks at motorsport events throughout north america.
- Explains that monster advertises at various rock concerts by bands known as "terror", "halestorm", and "shinedown" and uses their website to promote the tour dates for these bands.
- Explains that monster creates sweepstakes contests to attract consumers to purchase their products or visit their website in the hopes of winning something in return.
- Explains that monster's social media are many. youtube.com is the first example where they have created their own channel called monster tv.
- Explains that monster employs female models to represent and sell their products at various sporting events and locations.
- Introduces monster energy to the alternative beverage industry, specifically energy drinks, in 2002. with a principal mission to provide quality products that address today’s healthy lifestyle, the company is socially responsible and unique.
- Explains that monster energy is the largest energy drink manufacturer in canada and competes primarily based on its flavour variety, unique can size, and unique design.
- Explains that monster defines its target market as young adults, athletes, and sports-minded persons in the teenager to young adult age group. monster energy also targets adrenaline seekers and extreme sports participants.
- Explains that monster energy competes directly with top-selling energy drinks such as red bull, rock star, and amp. monster's product is unique and superior because of who and how they target.
- Describes s of the core third edition: roger kerin, steve hartley, william rudelius, christina clements, and harvey skolnick.
- Describes the environmental implications of the foodservice and food retail industries.
- Analyzes monster beverage corp (mnst) stock analysis - gurufocus.com.
- Cites university of oregon investment group's "hansen natural corporation."
- Explains that energy drinks 4 dummies is a website that promotes energy drinks.
- Explains kallmyer, ted. the top 15 energy drink brands.
- Explains monster energy - google+.
- Compares energy drinks: caffeine & nutrition at energy drink nutrition.
- Explains 5-hour energy® shots - no sugar & zero net carbs.
- Narrates the monster army | monster energy's action sport community.
- Explains that monster energy drink is a tangible product that helps to motivate consumer purchase. it comes in 16 ounce cans that are sporty and colourful in comparison with other energy drink competitors.
- Explains how monster beverage corporation priced their products correctly. price is defined as the expected retail shelf price and the sale price of the product.
- Explains that monster beverage company (formerly known as hansen naturel) partnered with coca-cola enterprises to distribute monster energy drinks using their distribution networks.
- Explains that promotion is one of the four elements in the marketing mix and refers to the communication tactics used to notify consumers about a product or service.
- Explains that monster energy.com is where you can find everything you need to know, from monster's latest products to when the next motocross event will be held.
- Explains that monster energy's greatest threats are competition, government regulation, taxation, and consumer health concerns. the company believes it can overcome these risks based on their diligence in producing quality products, their commitment to their customers and upstanding corporate ethics.
- Explains that the marketing mix definition is about placing the right product or a combination thereof in the place, at right time, and at correct price.
- Explains that walt disney is focused on getting the mass population involved, so the pricing is kept keeping the middle class in mind. the tickets of disneyland, though not cheap, are certainly not that high priced.
- Explains that disney has its own training university for training heir customer representatives and theme park employees. a single customer is said to be a direct contributor to the bottom-line of the company.
- Explains the three main products of walt disney. the first is its production company and the second is disneyland, which is one of the most profitable theme parks.
- Explains that walt disney's promotion is mainly universal. the parks and movies rarely need a push; people wait in anticipation for the next disney movie or for their visits to disneyland.
- Explains that marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand of products in the market.
- Explains that victoria's secret takes into account production cost, segment targeted, the ability and willingness of the market to pay the set price, supply and demand element, and a few other direct or indirect factors.
- Explains that victoria's secret is at the high end of the market, where its competitors are mid range and lower in price.
- Explains that promotion refers to any type of activities that make the product or service known to the consumer. victoria's secret spends $66 million each year on advertising, fundamentally defining its brand, products and packaging it for its consumers.
- Analyzes how victoria's secret integrates its marketing communication efforts across the marketing mix extremely well. they effectively advertise their brand, quality, style and elite products, creating a useful image of confidence, sexiness and desire to its consumers.
- Opines that victoria's secret is at risk of losing its customer base if they don't re-evaluate their advertised image of the women.
- Explains that proctor and gamble is a product and service driven company that is in business for profit. their earliest beginnings are rooted in strong family tradition.
- Explains that p&g's soap business was unpopular at the time of its inception. as candles became popular, they invested in chemical enhancements to their mainstay product, soap.
- Explains that proctor and gamble had product exclusivity and owned the market but they still had to sell it to make money.
- Explains that p&g researched the selling price of a bar of floating soap in 1878. they wanted to go national, which meant variations in cost due to labor and demographics of the region.
- Explains that proctor and gamble had to promote their product in many different markets. they used a catch phrase to assist in product identification.
- Explains that proctor and gamble was the first to use product branding and imprinted their soaps with their company logo and on the wrappers.
- Explains that proctor and gamble offered small metal coupons that offered a predetermined amount of money off the next purchase of ivory soap. this marketing ploy did not last long due to cost but it did however aid in product loyalty.
- Analyzes how proctor and gamble used the marketing matrix effectively to establish a product that was not in high demand, price it accordingly to each individual market place and offer it to the national community.
- Describes the four elements of the marketing mix (product, place, price, promotion) and how each element was implemented within the early proctor and gamble organization.
- Explains that marketing mix is a business tool used in marketing and by marketers. it is often associated with the four p's that are price, product, place and promotion.
- Explains that nike has signed top athletes to endorsement deals in order to further promote their products. nike also sponsors cycling racers from discovery cannel, the indian cricket team.
- Explains that nike has made a lot of successful advertising campaign through the hard work of their many agencies.
- Explains that nike's promotion tools are aimed at attracting customers' attention and highlighting the quality and functional benefits of their products to all consumers.
- Explains the positioning statement for nike is to bring inspiration and innovation to every athlete in the world.
- Explains that nike's promotional strategy is to sponsor professional athletes, colleges, and professional teams. nikeid allows customers to personalize nike products according to their preferences.
- Explains pepsi, mountain dew, gatorade, sierra mist, tropicana, brisk, lipton, rold gold pretzels and lay's are iconic brands.
- Explains that pepsico is the second biggest player in the global food and beverage industry. its generic competitive strategy is based on its biggest rivals, the coca-cola company.
- Explains that pepsico's competitors in the food industry are conagra foods, inc., kellogg company, kraft, mondelez, snyyder, and nestle s.a.
- Explains that pepsi's marketing appeals to men by featuring nascar racers and women through home designs. its market reach is also diverse.
- Explains pepsico's generic strategy, which applies different competitive strategies, considering its huge array of products. cost leadership and broad differentiation contribute to its competitive advantage.
- Explains that using the global marketing mix, which is discussed in chapter five of the class assigned textbook, will help identify what pepsico need to do to reach their goal.
- Explains that pepsico's product mix includes soft drinks, cereal, snacks, and many more. most business transactions are at the brick and mortar store, although the product can be bought online.
- Explains that pepsico's promotional mix includes advertisement, sales promotion, direct marketing, and public relations.
- Explains pepsico's pricing strategy is market oriented pricing and hybrid everyday value pricing.
- Explains that pepsico has identified and confronted the marketing environmental issue by implementing many procedures and opting for different resources to be more environmentally friendly.
- Explains that the situation analysis is the means by which a company can identify its swot analysis.
- Explains that steep analysis is an essential tool for market planning and strategizing.
- Explains that steep analysis provides information that covers various aspects of social, technological, economic, ecological and political factors of a business environment.
- Explains that pepsico is the largest selling beverage internationally, accounting for 40% of the global beverage market. the company conducted a steep analysis to understand each country's markets.
- Opines that pepsi must communicate its image as a global brand in order to change people's perception. social actions are visible in marketing campaigns.
- Explains that as technology advances, companies feel the pressure to change. social media has increased interactive engagement with the customers. pepsi has to make attempts to stay ahead of the developments.
- Opines that economic conditions influence business the most. in 2008, the economy declined, which resulted in increased sales for the company.
- Opines that ecological factors might affect pepsi, but it will not have much toll on trade and profit generation.
- Explains that pepsi is a non-alcoholic beverage, so the fda regulates it. different markets follow different set of regulations, which are either relaxed or severe.
- Explains that competitive pricing is a factor, which the firm should keep in mind all the time. pepsi has to stay updated with all changes and policies in order to adapt.
- Describes pepsico's top brands, including gatorade mountain dew, thirst quencher, lay’s potato chips and tropicana beverages.
- Explains that pepsico's fortunes are influenced by the business strategy of wal-mart, specifically its emphasis on private-label sales, which produce a higher profit margin than national brands.
- Opines that pepsico's international presence, 52% of its revenues are from the u.s., could exploit its lack of bargaining power.
- Explains that product recalls can impact the company’s image negatively. in 2008, salmonella contamination forced pepsico to pull aunt jemima pancake and waffle mix from retail shelves.
- Explains that pepsico has the opportunity to broaden the product base by addressing one of the weaknesses of over dependency of u.s.
- Opines that government initiatives related to environmental, health and safety might negatively impact manufacturing, marketing, and distribution of food products.
- Explains that pepsico's primary competitor is coca cola, but others include nestlé, groupe danone and kraft foods. intense competition may influence pricing, advertising, and sale promotion.
- Explains that pepsico may be vulnerable to strikes and other labor disputes. in 2008, a strike in india shut down production for nearly an entire month.
- Argues that healthy lifestyles trend is a threat against pepsico’s products because of the ingredients within the product.
- Defines marketing as 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.
- Explains the four p's- product, place, promotion, and price, which together make up the marketing mix.
- Explains marketing mix, a unique blend of the four p's designed to produce mutually satisfying exchanges with target market.
- Explains that pepsico has a wide spectrum of marketing perspectives that are vital to the consumers and the company.
- Explains that building brand awareness and promotion is an essential part of the mix and can help sustain sales revenue over the long-term. the benefits of building a brand are not always associated with profit.
- Opines that brand building activities and properly targeted advertising should help a company's image by creating product awareness and confidence.
- Opines that working closely with distributors and getting involved with others can put a company in position to maximize new opportunities and avoid potential problems. building relationships can improve the flow of products to customers and foster new distribution channels.
- Explains that companies can build a positive image with customers and employees by donating money and time to charitable organizations.
- Opines that short-term investment in research and new products design can boost future sales projections. conducting research with new and old customers and implementing their demands, in future product designs should ensure future growth.
- Explains goi, c.l., a review of marketing mix: 4ps or more.
- Explains kyle, b., 7 ways to improve profit through both long- and short-term strategies.
- Explains the four p's of the marketing process: price, product, place, and promotion.
- Explains that marketing is a vital component in the success of businesses. small businesses are faced with remarkable hardships due to not developing the right marketing plan.
- Explains the marketing mix is a term used to describe the four main marketing tools, price, product, promotion and place.
- Opines that the marketing mix will help win customer loyalty and increase sales. businesses need to identify whether the number of target customers is growing or shrinking and whether their buying habits will change in the future.
- Explains that subway is a franchise business that has been using many strategies of marketing and is successful in australia. its target market is people who like to eat fresh and healthy food.
- Explains that subway's advertising tagline "subway – eat fresh" is the most important part of marketing while advertising the business.
- Explains that mcdonald's uses successful marketing strategies to identify customer needs and meet these needs in a better way than competitors.
- Explains that subway allows its franchisees to choose their own food suppliers to ensure they can access the freshest ingredients from their local markets.
- Explains that marketing strategies are the most important part of any business, once the marketing strategy is in place, the business will be successful in the future.
- Explains how subway-target market n.d., leading edge education 2007, estartup business blog and contributors, and marketing at mcdonald's were cited.
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An Introduction to Marketing Mixes & The 4 P’s of Marketing
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The 4 P’s That Make Up a Marketing Mix
A marketing mix consists of a combination of factors that a business can control in order to influence consumers to purchase its products.
By strategically manipulating these factors and continuously optimizing them, businesses can better serve their customers; in turn, boosting their bottom lines.
Marketing mixes are comprised of the four P’s of marketing — product , price , promotion , and place .
Below we outline the various components of each of the four P’s of marketing.
- The quality of the product
- The design of the product
- The packaging of the product
- The branding of the product
- The retail price of the product
- The payment plans available to consumers
- The discounts available to consumers
- The credit terms required if consumers need to borrow money to purchase the product
- The advertising that promotes a product
- The salespeople (or lack thereof) required to sell the product
- Public relations
- Emails, or any other form of communication that spreads the word of the product
- The retail locations or storefronts required to sell the product
- Delivery of the product
- Whether or not the product is downloadable
- All distribution methods
The 7 P’s of Marketing
In recent years, the four P’s of marketing have been expanded to seven P’s by including the additional considerations of physical evidence , people , and process .
Physical Evidence
Physical evidence refers to anything that provides proof that a transaction or service took place. A receipt is a convenient example of physical evidence.
In the case of the seven P’s of marketing, people refers to the employees that work on the product or service, and how well they do so.
Here process refers to anything within the business that impacts how the product or service is established, created, and/or distributed.
How to Determine Your Ideal Marketing Mix
In order to best serve the market and in turn drive as much revenue as possible, businesses must determine the ideal combination of the factors discussed above to create an ideal marketing mix.
The first step is to develop a precise description of your target customer, and what makes them unique. You can combine your existing knowledge with customer interviews, as well as data from leaders in customer service, marketing, and sales. You can even run a customer feedback survey to collect fresh insights.
If you’re targeting individuals, consider key demographics within the larger population. If you’re targeting businesses, take consideration of the size of your ideal client company, and where they are located geographically.
Once you’ve developed an accurate profile of your target audience, you can begin to build out your marketing strategy to best align with your target population.
Next, define your goals, and what is necessary to accomplish in order to achieve the results you’re looking for.
Examples of Marketing Mixes Determined by Target Markets
Let’s imagine that you’re in the business of selling sandwiches.
The first step in building out an optimized marketing mix would be to identify and define your target market. Who are you going to sell sandwiches to?
Your target market will have a significant impact on your four P’s.
If your target market consists of the wealthiest people in a given region
If you decide that your target market are wealthy people in a given area that are interested in eating gourmet sandwiches, we could consider a sandwich that utilizes gourmet ingredients such as truffles, caviar, or high-end cheese that has been aged for years. This would entail a manipulation of your product.
When it comes to price, you’d have to charge a significant amount of money per sandwich to make a profit since your costs will be high due to pricey ingredients. For the sake of this example, let’s set the price per sandwich at $30.
A good promotional tactic you could utilize would be advertising your sandwich shop in luxury magazines.
Finally, the place that you sell your sandwiches would have to be somewhere like a country club, or a fancy restaurant.
If your target market consists of budget-conscious, health-focused people
If your target market were to shift from wealthy people to budget-conscious health-focused people, your marketing mix would need to change as well.
In terms of product, you might want to consider vegetarian options, or sandwiches that are made with a healthy bread substitute.
Your price would inherently change, as the ingredients to your sandwiches would not be as expensive, and your target market here would not have the same source of wealth as your previous target market of the wealthiest people in the region.
You could run a promotional campaign in which if people buy a sandwich, they receive a half-off discount on the next sandwich that they purchase. This would keep these budget-conscious consumers coming back for more.
Finally, when it comes to place, you might want to sell your sandwiches someplace like a local park that is free to access, instead of a high-end country club or fancy restaurant.
While the examples above are high-level, relatively simplistic marketing mixes, they speak to the fact that your four (or seven) P’s of marketing should naturally change and evolve depending on the target market you are hoping to address.
Different markets will receive varying marketing mixes with different levels of acceptance. That’s why it’s essential for any business, large or small, to put careful consideration and thought into developing the most optimized marketing mix possible.
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Marketing Mix paper Essay
Introduction, coca cola company, promotion strategies, pricing methods.
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Over the recent past, marketing has grown to become one of the key functional areas of business organizations. This growth has come in the wake of the realization that the traditional business practice methods are no longer relevant in the modern day business environment (Michael & Saren, 2010). For a long time, business managers ignored the aspect of marketing and paid much emphasis on the production of goods and services. However, in the current day business world where competition is a major determinant of the adoptability of a product by the consumers, marketing has become an inevitable functional area of most organizations. The importance of marketing comes in that the various products; both goods and services offered by an organization ought to be presented to the target consumers. More so, due to the availability of competitor products and supplementary products, marketing is necessary so as to help push the products to the consumers (Richard, 2009). Marketing therefore takes different forms and the final aim of any marketing activity is to enable the product being marketed to get adopted by the target consumers. The success of a marketing strategy and subsequent marketing activities is judged by the increase in the amount of sales generated from the marketing activity (Marian, 2010). This essay presents and explains the four elements of marketing mix; Product, Pricing, Promotion and Place. The Coca cola Company will be analyzed in this essay.
Coca Cola Company is the world’s number one manufacturer, marketer and distributor of non-alcoholic drinks. It is a multinational giant that has headquarters in the United States of America. The company has managed to produce top brands in the beverage industry such as Fanta, Coke, and Sprite and so on. Its main objective is to maintain its global leadership in the production and distribution of the soft drinks. This objective has largely been achieved because most of the coca cola company products are house hold brands and continue to be used by many. The challenge is however maintaining this status and in order to achieve this, the company has come up with ways in which it can effectively use the 4 Ps of marketing to ensure that its brand remains visible all over the world. The following text discusses how the different P’s of marketing have affected the Coca-cola company marketing strategy.
Product is one of the four main elements of marketing mix that concerns with the product itself. A company’s product is the sole reason for the existence of the company. This is because it is what meets the customers’ needs (Michael & Saren, 2010). There are various attributes of a product that help in marketing. These include the product lifecycle, product line and the product mix. A marketer should be able to manage the product in such a manner that its relevant to the consumers’ needs remain unaffected (Richard, 2009). Coca-cola Company has managed to incorporate this marketing element to be able to achieve some marketing objective. One way of dealing with the product is through having a continual reinvention of the product that makes sure that the consumers continue to enjoy and derive benefits from that particular product. The other way is by extending the product life cycle. The company has managed to continually re-invent its products over the years and this has offered a great deal of help in retaining the brand visibility among majority of consumers in the world. The various Coca-cola Company products such as the Coke, Fanta, and Sprite have maintained their visibility among the consumers over the years. These products have been regularly associated with the young people and as such, the marketing strategy for these products revolves round the young people. This has been a successful strategy since the products have remained house hold brands among many individuals.
Promotion is the other marketing mix element that deals with a company’s act of driving the products to the consumers. This is achieved through employing marketing activities that convince the consumers to purchase the particular product (Christ, 2011). There are various available promotional strategies. The most common ones are the push-pull strategy and the message & media strategy. The push-pull strategy deals with the manufacturer promoting the product to the retailers directly so as to ensure that they keep the goods in their stock. The message & media strategy deals with the manufacturer performing the promotional activities independent of the retailer and this is aimed at creating a demand for the product among the consumers such that the retailers will act on the demand and therefore stock the product (Richard, 2009). Coca-cola Company has majorly employed the message & media strategy. Their products are marketed via the different media such as the televisions, bill-boards, Social media, and so on. This element of promotion has affected the company’s marketing strategy since the company majorly employs promotion as the key marketing activity for its products. The company gains a lot from this strategy since the consumers who regularly see these promotional messages in the mass media become accustomed to the products and as such, develop loyalty on the products. The brands that have managed to achieve success through this method are Coke and Fanta.
Pricing is another element of marketing mix that deals with the setting of the product price. Price is usually the factor that determines the consumers’ willingness and ability to pay for the particular product (Christ, 2011). This is because of the fact that money is usually a scarce resource and as such, the available limited disposable income is allocated to the unlimited competing needs. Companies therefore ought to have a pricing strategy that does not exploit the consumers hence scaring them from purchasing the products. The Coca-Cola Company effectively employs the pricing strategy and as such, it is able to gain a competitive advantage over other competitors’ such as Pepsi. The Coca-cola products are sold at relative lower prices comparing to the competitors. this has been achieved through the ability to gain on the economies of scale therefore having low products cost per unit. The strategy that the company has used in this area is through having a suggested retail price. This prevents that consumers from being exploited by the retailers and also helps maintain the confidence the consumers have on the brand.
This marketing element has to deal with the businesses’ act of ensuring that the products are presented at a convenient location to the consumers. Place also forms a type of utility where the consumer needs the product being offered by the business to be in an accessible location or a convenient one (Marian, 2010). This is done either through transporting the products to the areas near the consumer or carrying out production near the consumers. The boon in this is that the consumer is allowed is able to purchase the product without major logistical issues. Coca-cola Company has been able to put this element into consideration when coming up with marketing strategy. The company has expanded its tentacles to almost all the countries of the world and as such, it is able to carry out production and subsequent distribution to the consumers at their convenience. Companies that have moved their products closer to the consumers not only enjoy brand visibility and recognition among the consumers but they also incur fewer expenses during production. The advantage of this is that the company is able to sell at lower prices and thus attract more customers who result in growth in the revenues. Coca-cola Company has set numerous bottling plants in many countries and this has greatly helped in achieving low production costs. This has also ensured that the consumers purchase these goods at their own convenience. The strategy involved by Coca-Cola Company in this case is referred to as exclusive distribution. This is where the company opts to solely and exclusively carry out its own distribution process without engaging other third parties. This helps in the consumers’ appreciation of the products and also increased the brand value of the company among the various consumers.
The importance of incorporating the 4Ps of marketing in crafting the marketing strategy cannot be overemphasized. Once a company has fully articulated the requirements of the 4ps of marketing, the marketers need to incorporate the customer focus marketing approach that leads to the 4Cs of marketing mix. These are the Commodity, cost, channel, and Communication. Once all these factors are put in place, the marketing strategy can be said to be complete and as such positive results can be expected from such an approach.
Christ, P. (2011). Principles of Marketing. New York: Butterworth- Heinemann. Marian, B. W. (2010). Essential Guide to Marketing Planning. New York: Pearson Publishers. Michael, J. B., & Saren, M. (2010). marketing Theory. London: Sage Publishers. Richard, H. (2009). Brilliant Marketing: What the Best Marketers Know, Do and Say (3rd Edition ed.). New York: Pearson.
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The Advantages Of Sports Marketing Mix
- Topics: Athletes Marketing and Advertising
- Words: 1935
- This essay sample was donated by a student to help the academic community. Papers provided by EduBirdie writers usually outdo students' samples.
Introduction
The marketing mix could be a set of procedures and exercises that cover product, price, promotion and place (distribution). These are commonly alluded to as ‘The Four Ps’. The reality that these four components are assembled into a set, or a ‘mix’, is critical, since they ought to be facilitated together in an coordinates meld (Mihai, 2013). At the heart of the decision-making prepare with respect to your blend are the inquire about and information picked up almost the shopper, the competition, the company, and the climate. All variables must be given cautious consideration. If the wear advertiser disregards one or the other, this increments the chances of making off-base choices. Sport promoting is the application of showcasing concepts to sport items and administrations, and the promoting of non-sport items through an affiliation to sport. Wear showcasing subsequently has two key highlights. First, it is the application of common promoting hones to sport-related items and services. Second, it is the showcasing of other customer and mechanical items or administrations through don. Companies within the sport industry have bounty of competitors. A sport company nowadays must utilize sport showcasing as a critical commerce work to the degree that each feature of the company is guided by sport showcasing concepts. It is the work that guides the sport commerce toward distinguishing the items that buyers require or crave, that distinguishes and analyses competitors, that creates estimating procedures, that creates the special methodologies to be utilized for the company’s products in arrange to urge the consumer to the item, which recognizes how to induce the item to the customer.
The Four Ps
The first of the four P’s is product, the middle piece of a promoting blend is the product. An item is anything that fulfils a require or wish and is procured to do so. In connection to wear, two imperative concepts have suggestions for wear promoting. The primary is the core product, characterized as the real diversion, over which the don advertiser has no control. The wear advertiser must be exceptionally cautious not to over-promise in terms of how great the diversion will be or how well particular competitors may perform. The second concept is the significance of product expansions to the by and large showcasing exertion. It is here that the advertiser can guarantee that satisfactory levels of quality are accomplished. It is simple to think of the word item as alluding to a physical, made item. However, the term item can moreover allude to administrations, individuals, places, thoughts and the benefits that a sport association offers buyers. Numerous sport associations offer a benefit, such as a frame of physical movement, amusement or an encounter. There’s frequently no physical item to require absent, but a sport association might offer a few intangible benefits such as a lifestyle, a social gather or indeed a conviction framework. The item can moreover incorporate plan, bundling and stock.
The second one is price. The price of an item speaks to what a buyer gives up in trade for a donning great or benefit. A cost ought to too reflect the esteem of an item. For the most part, price is thought of in monetary terms, but may incorporate other things that a client needs to allow up in arrange to get the item, such as time (e.g. Waiting in a line) or social costs (e.g. being in a high impact exercise lesson with others rather than a one-on-one instruction). Price is the figure that’s most unmistakable and adaptable, particularly as a result of deals, discounts, rebates, and coupons. Making a technique for estimating is necessarily to the victory of the don organization because it encompasses a noteworthy effect on the victory of the generally wear showcasing plan. In expansion, estimating is specifically influenced by the outside variables counting government directions, the financial climate, and legislative issues. The challenge for the sport advertiser is to decide the correct cost for the customer. The cost or price of an item can be controlled numerous ways. Limited time estimating can be utilized: 2-for-1 tickets to the diversion or 2-for-1 enrolments to the wellness club, uncommon deal costs on sports clothing for amid an occasion period, uncommon deal costs on wearing products gear for regular sports, or cost breaks as the amount obtained increments. There are too long-term price-planning procedures that the wear advertiser can utilize. Sport pricing is complex and basic to the victory of the promoting arrange. Be that as it may, cost is one viewpoint of the showcasing arrange that will be promptly changed (i.e., expanded or diminished somewhat). For case, wear organizations regularly modify their costs to pull in diverse consumers (e.g., understudies may pay a diverse cost for occasion tickets than the common open pays). Sport organizations may moreover alter costs concurring to the advertise environment (e.g., bringing down costs amid a retreat or financial downturn) or the team’s execution (e.g., expanding costs as a team’s execution significantly makes strides).
The third one will be place. Place is the method of getting the wear item to the customer. It is additionally called dispersion: dispersing the sport item to the customer. The sport advertiser will analyse the sorts of dispersion strategies accessible and select those that will deliver the item to the proper place. The correct put implies: where the customer is, shops, or will travel. Place alludes to the area of the wear item (stadium, field), the point of beginning for dispersing the product (ticket deals at the stadium, deals by a toll-free phone number, or web), the geographic area of the target markets (worldwide, national, territorial, state, communities, cities), and other channels that are critical to consider with respect to whether target groups of onlookers may get to the item (such as time, day, season, or month in which an item is advertised, as well as the media dissemination outlets buyers may utilize to get the item encounter). Variables related to the physical area of the sport can have a great or troublesome impact on the showcasing arrange. To guarantee a great impact, the sport office must be effectively open (interstate frameworks, stopping, walkways, ramps) have an alluring physical appearance (well kept up and painted); have a charming, helpful, and useful environment(quick and simple get to concessions, clean restrooms, smoke-free and odour-free environment);and have secure and charming environment (satisfactory open security and security work force, appealing neighbourhood). The Wakefield and Blodgett (1996) study found that format availability, office aesthetics, seating consolation, electronic hardware and shows, and office cleanliness all have a noteworthy impact on how don fans see the quality of the stadium. In turn, the higher this seen quality of the sports cape, the higher the don fan’s fulfilment with the sports cape. If don fans are more fulfilled, they are likely to staying the stadium for a longer period and spend more cash too, they are likely to return more frequently.
Lastly is promotion. Promotion is the process of promoting. Promoting means raising awareness. Therefore, a simple definition of promotion is the process advertiser must keep it long enough to induce a message over. In wear promoting the word advancement covers a extend of interrelated exercises. All these exercises are outlined to pull in consideration, fortify the intrigued and mindfulness of buyers, and of course, energize them to buy a don item. Advancement is almost communicating and teaching shoppers. For illustration, advancement might include telling potential shoppers around an item, reminding them of its benefits or convincing them that it is worth attempting. Promotion includes all shapes of communication with shoppers, not fair promoting. Advancement is best seen as the way that don marketers communicate with buyers to advise, induce and remind them approximately an item. The point of advancement is to energize customers to create a great supposition approximately a don item which is adjusted to a foreordained situating technique, and after that to fortify customers to undertake the don product. Promotion concentrates on offering the item. The components of sport promotions (too known as the sport promotional mix) incorporate promoting, sponsorship, open relations, licensing, individual contact, motivations, and atmospherics. Promoting includes paid, non-personal communications around a wear item or benefit through the print, broadcast, or electronic media that are outlined to draw in open consideration and consequent buy. In wear marketing, advertising may incorporate broadcast commercials, coordinate mailings, office signage, and fabricated media (Mihai, 2013). Sponsorship alludes to the relationship between an enterprise and a sport organization as an instrument to create brand picture and client devotion because of the affiliation. Open relations are the collection of exercises, communications, and media scope that pass on who the don organization is and what they must be offer, all within the exertion to improve their picture and glory. Authorizing is one of the speediest developing components of wear advancements and includes the creation of a key union in which the producer of a wear item gives consent to a moment party to make that item in return for eminences or instalments.
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All these 4p’s which product, price, place and promotion are related to sports to give the views in order to see clearer about those 4p’s.
Advantages of Sports Marketing Mix
When we are talking about the advantages, there are so many about it. We take as example in sport. Commonly the advantages are for athletes, teams, and associations as well as companies that sponsor and promote the sports.
For the athletes or sportsperson, Athletes, teams, and affiliations appreciate coordinate income from underwriting bargains. Being the confront of a brand makes them more available to individuals who don’t follow sports. This could lead to said individuals starting to take after sports for this competitor or group, in turn, increment income from ticket deals and the like for the competitor or group. Sports showcasing raising intrigued in a wear in common benefits everyone related with that sport. They moreover advantage from the media rights that come with advancing sports.
Sponsors would likely to take this advantage when sports event happen. Trade organizations advantage from supporting sporting groups and occasions since they get income from it. Furthermore, they can utilize the occasion or group to support their items in return. Devotees of sports or fans of a specific group will see the underwriting and take an intrigued within the items. Utilizing the underwriting of a celebrity competitor could be a positive way of guaranteeing expanded deals and benefit. By entering into bargains with sports affiliations supports can advance major events and relate themselves with the occasion, which benefits them within the long run.
Furthermore, the advantages for the viewers. Viewers of sports pick up mindfulness of diverse sports and donning occasions through sports promoting. Sports showcasing gives fans the opportunity to associated with their icon competitors through limited time occasions. It too centres on raising interest in sports among watchers. Fans can get to be competitors themselves in case the showcasing techniques are utilized accurately. Sports promoting meets desires of shoppers by the implies of trade forms.
Lastly for the venue locale. The cities and nations which have major donning occasions advantage enormously as a result of sports promoting. The occasion is regularly promoted with an accentuation on the nation or city which is facilitating it, such as the Olympics. The city or nation gets coordinate income since of charges. Also, a major wearing occasion such as a World Cup leads to a surge in tourism. Fans of the sport or a specific group or competitor regularly travel to this specific region in arrange to see the occasion in individual. On the off chance that the occasion is advanced at that point it guarantees income from the tourism industry.
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Impact of culture on the international marketing mix
Introduction.
Marketing is a continuing process of setting up and executing the marketing mix for products, services or ideas to generate exchange between individuals and organizations. Marketing tends to be seen as an innovative industry that includes publicity, distribution and selling. In addition to this, it’s also concerned with anticipating the consumers’ future needs and wants, which are frequently revealed through market research. (Porter, 1980, p. 99)
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Elements of International Marketing Mix
Marketing mix refers to a set of controllable tools that the firm blends to produce the response it wants in the target market, as a result, it consists of everything the firm can do to influence the demand for its products. (Kotler and Armstrong, 2004, p. 242)
The categorization of four Ps of marketing were primary introduced and recommended by McCarthy (1960) and includes marketing strategies of product, price, placement and promotion. (McCarthy, 1960, p. 156)
This includes all features and permutation of goods and connected services that a corporation offers to its consumers. The range of a product usually includes supporting essentials such as warranties, guarantees, and support. (Noergaard, 2005, p. 78)
This is the most significant aspect of marketing mix for two major reasons.
First and foremost, products are the marketplace expression of the company’s productive capabilities for manufacturers and determine its ability to link with customers. Therefore it follows that product policy and strategy are of major significance to an enterprise, and product decisions dictate the extent and direction of corporation activity. (Lazer, 1971, p. 110)
Secondly, the product of any association is both a component and a determinant of the marketing mix since it has an enormous power on the other elements of the mix such as advertising, personal selling, physical distribution and pricing , and channels of distribution. For that reason, without appropriate product policy, a corporation can not pursue additional elements of marketing mix. (Finch, 2004, p. 95)
This refers to the process of setting a cost for a product and this includes discounts. The price doesn’t need to be fiscal, it can merely be what is exchanged for the product or services such as energy, time or attention.
Pricing strategy is divided into two parts mainly; price determination and price administration. Price determination refers to the processes and actions employed to arrive at a price for a product counting contemplation of relative prices of products within the similar line, and differences in price for comparable products of differing grades and qualities. (Kotler and Armstrong, 2004, p. 265)
Price administration refers to as the activities involved in fitting essential prices to a particular sales circumstances such as position of distribution channel, functions performed by customers, or special sales situations. A good example is Coca Cola and Pepsi where dissimilar prices are set in different geographical areas bearing in mind the difference in patterns of usage and varying advertisement costs. (Kotler and Armstrong, 2004, p. 266)
This refers to how the product gets to the client; for instance, point of sale post or retailing. This can also be termed as place which refers to the channel by which a product or service is sold such as online versus retail; which geographic region or industry, to which segment such as young adults, business people, families; and last but not least, it could also be referred to how the surroundings in which the product is sold in, can have an effect on sales. (Porter, 1980, p. 102)
This includes all means through which a corporation communicates the benefits and standards of its products and persuades the targeted customers to buy them; this can be through advertising, publicity, personal selling, branding, and sales promotion. (Kotler and Armstrong, 2004, p. 256)
These four elements are frequently referred to as the marketing mix which a marketer can use to design a marketing plan. These four Ps are repeatedly useful when marketing low value consumer products. Nevertheless, industrial products, services, and high value consumer products entail adjustments to this model. Consequently, three additional Ps are incorporated to total seven and these are; people, process and physical evidence. (Marconi, 1999, p. p. 111)
People are predominantly significant because in the customer’s eyes, they are usually indivisible from the total service. For this reason, it then follows that they must be appropriately trained, be well motivated and ought to have the right type of person. At times consumers are also referred as people since they can also have an effect on the consumer’s service experience. A good example is at a sporting event. (Kotler, 2006, p. 550)
This is involved in providing service and the behavior of people that is vital to consumer gratification. (Kotler, 2006, p. 550)
Physical Evidence
Since potential customers could perceive greater risk when deciding whether to use a service, it then follows that, to decrease this feeling of risk and eventually increase the chance for success, it is over and over again imperative to offer potential consumers the opportunity to see what a service would be like. This is consequently done through physical evidence such as case studies and testimonials. (McCarthy, 1960, p. 160)
However, as if this is not enough, the world keeps on advancing and today, we have four more Ps. These include; Personalization, participation, peer-to-peer and predictive modeling. (Baker, 2002, p. 166)
Personalization
This refers to customization of products and services through the use of the Internet. Examples include Dell on-line and Amazon.com; conversely this concept will further be comprehensive with up-and-coming social media and advanced logarithms. (Kotler, 2006, p. 553)
Participation
This is aimed at allowing the customers to take part in what the brand ought to stand for; what ought to be the product directions and even which ads to run. (Kotler, 2006, p. 550)
Peer-to-peer
This refers to consumer networks and communities where advocacy occurs. The chronological problem with advertising is that it is “interruptive” in nature and tries to inflict a brand on the customer. This frequently occurs in TV advertising. Nonetheless these “passive customer bases” will be replaced by the “active customer communities”. Peer-to-peer is now being referred as Social Computing and is liable to be the most disorderly force in the future of marketing. (Albaum, 2004, p. 120)
Predictive modeling
This refers to algorithms that are being productively applied in marketing problems such as regression and categorization problem. (Baker, 2002, p. 170)
Impact of Culture on the International Marketing Mix
Culture refers to the educated ways of group living and the group’s responses to a variety of stimuli. In addition, it is the total way of life and thinking patterns that are passed from one generation to another generation. It encompasses norms, values, customs, art, and beliefs. It then follows that a people’s culture includes their beliefs, language, styles of dress, religion, political and economic systems, just to mention but a few. (Kotler, 2006, p. 549)
How advertising efforts interrelate with a culture determines the achievement or failure of a product. Advertising and promotion entail special attention since they play a major function in communicating product concepts and benefits to the target segment. (Lazer, 1971, p. 115)
Culture is subjective in the sense that people in dissimilar cultures frequently have dissimilar ideas about the same object. What is satisfactory in one culture may not automatically be so in another. For this reason, culture is both unique and arbitrary. Culture is enduring since it is shared and passed along from one generation to another; it is comparatively steady and to some extent permanent. (Finch, 2004, p. 108)
The socio-cultural measurement of buyer behavior culture does influence utilization to an enormous extent. Consumption patterns, living styles, and the precedence of needs are all dictated by culture. Culture prescribes the way in which people gratify their desires. A good example is the consumption of beef. Some Chinese do not consume beef at all, believing that it is bad-mannered to consume cattle that work on farms, therefore helping to provide foods such as rice and vegetables. (Kotler and Armstrong, 2004, p. 260)
The expansion of global culture swift changes in technology in the last numerous decades has changed the nature of culture and cultural exchange. Inhabitants around the globe can make financial transactions and broadcast information to each other almost immediately through the use of computers and satellite communications. (Noergaard, 2005, p. 89)
Nowadays, many nations are multicultural societies since they are composed of numerous smaller subcultures. Good examples is where people from around the world now know a variety of English word and have contact with American cultural exports such as brand name clothing and technological products, music and films and mass-produced foods. (Porter, 1980, p. 118)
Language is a means of transportation of culture and is frequently one of the most noticeable and audible way of the expression. Nevertheless, a number of cultures may use equivalent language or on the other hand one language may serve more than one culture. However, the use of dissimilar language settings in different countries can generate problems for international managers. Therefore, it follows that, international managers ought to understand cultural differences by linguistic skills; language as gateway to culture. (Kotler and Armstrong, 2004, p. 262).
A good example, India is made up of highly diversified ethnic and religious groups as well as Muslims, Hindus, Christians, and a number of religious languages, which makes India an extremely multi-cultural country. For this reason, any domestic and international organization thinking to do business in India may have to acclimatize them according to multicultural society existing in India. It then follows that, multiple languages and different language usage patterns within countries might have an effect on promotion activities, including advertising and consumer research particularly in India and China. (Kotler, 2006, p. 548)
To evade situations of cultural shock, business men ought to adopt ‘standardization versus adaptation decision and implement adapted marketing mix so as to avoid failure and to succeed in any foreign market. (Baker, 2002, p. 176)
Standardization versus Adaptation
According to the fundamental marketing concepts, companies will advertise more of their products if they aspire to meet the needs of their target market. Nevertheless international markets have to take into contemplation their customers cultural background, levels of personal disposable income and their buying habits so as to deliver a modified marketing mix curriculum to suit their needs. (Marconi, 1999, p. 122)
Study reveals that sensitivity to price and distribution does vary considerably across countries. This result is notable since the product group studied is a commodity, very difficult to distinguish and not very involving to most consumers. Research therefore indicates that customers in some nations are far more responsive to price or product availability than customers in other even neighboring countries. (Albaum, 2004, p.125)
Multinational companies tend to follow adaptation process as opposed to standardization. For instance; the Indians do not consume beef and this is something that Mc Donald did not comprehend when they went international in India and as a result they faced lots of shakeup and losses. They later had to change their product strategy by introducing chicken burgers instead of beef. (Kotler, 2006, p. 548)
International consistency has its own advantages in the sense that as people travel the world, they can be guaranteed that wherever they go, the product they buy will be similar and will also have similar standard benefits. As a result as these consumers buy from different buyers in different local markets, they too become global eventually. (Lazer, 1971, p. 126)
Standardization reinforces quality development since efforts are concerted upon the single product. The employees can be trained to improve the quality of the product and manufacturers would invest in know-how and equipment that can safeguard the excellence of the standardize product offering. (Noergaard, 2005, p. 102)
Moreover, cost reduction facilitates economies of scale since one is making large quantities and as a result you benefit from the advantages linked with manufacturing in bulk. For instance; components can be bought in large quantities thereby reducing the cost per unit. Other benefits include, marketing operational costs, improved research and development, just to mention but a few. (McCarthy, 1960, p. 172)
Standardization reinforces positive customer perceptions of your product in the sense that your product will help you sell more of it. This can be attributed through your positive word of mouth that pays dividends for your brand owners. (Finch, 2004, p. 110)
However, standardization also has its own limitations. Since the product is similar wherever you buy it, it then follows that it is completely undifferentiated. It is not distinctive in anyway and this leaves a clear chance for a competitor to blueprint a tailor made differentiated or acknowledged product that meets the needs of local segments. Local markets have local needs and tastes and hence by standardizing, you could leave yourself susceptible. (Baker, 2002, p. 182)
Standardization depends mainly on economies of scale. It then follows that, with worldwide businesses, your business will be produced in a number of nations. Nevertheless some countries implement trade barriers. These include; USA and the European Union thus making penetration into these countries inevitable. (Baker, 2002, p. 186)
Adaptation on the other hand facilitates local competition and it’s true to the marketing concept. For instance; companies are attempting to expand global products by incorporating differences regionally or international into one basic design. Mc Donald menu adjustments comprise beer in Germany and wine in France, and rye-bread burgers in Finland. Another example is that even if the Colgate products are available worldwide, the corporation formulates some toothpaste locally such as a spicier one for the Middle East. (Kotler and Armstrong, 2006, p. 271)
In many situations, a corporation will have to adapt their product and marketing mix strategy so as to meet their local needs and wants that cannot be changed. For instance; Coca cola in some parts of the world taste sweeter than in others. (Kotler and Armstrong, 2006, p. 273)
For these reasons, we can therefore argue that standardization is superior for organizations since it reduces cost, nevertheless many organizations will have to ‘think global but act local’ if they are to productively establish themselves in foreign markets. (Kotler and Armstrong, 2006, p. 274)
The 7Ps plus the four additional Ps, determine how well a corporation can use each element to gratify its customers and as a result gain profits. Organizations ought to design products that meet consumers’ needs and develop pricing structure that consumers find reasonably priced and attractive.
The impact of culture in domestic and international market is tremendous, however, it should be noted that a country’s culture is defined on the basis of various elements such as language, ethnic and religious groups. Moreover, the rules and regulations for doing business keep on changing from country to country, and as a result organizations should consider all these factors before venturing into new markets.
Read about The Strong Culture Perspective
REFERENCE LIST
Albaum, G (2004) International Marketing and Export Management, McGraw-Hill Publishers. ISBN: 1843980126.
Baker, J (2002) the Marketing Book, Butterworth-Heinemann Publishers. ISBN:0750655364.
Finch, J (2004) CLEP Principles of Marketing, Research & Education Assoc.Publishers. ISBN: 0738600748.
Kotler, P & Armstrong, G (2004), ‘Principles of Marketing: Tenth Edition, New Jersey: Pearson Education Inc.
Kotler, P. Kellar K. L (2006) Marketing Management, 12th edn, Prentice-Hall, Upper Saddle River, NJ, pp 546-552.
Lazer, W (1971), ‘Marketing Management: A Systems Perspective’ New York: John Wiley & Sons.
Marconi, J (1999) the Brand Marketing Book Creating, Managing, and Extending The Value, McGraw-Hill Professional Publishers. ISBN: 0844222577.
McCarthy, E J (1960) ‘Basic Marketing- A managerial Approach, llinois: Irwin.
Noergaard, E (2005) International Marketing, Cultures and Communication: A Resource Book, Systime Academic Publishers. ISBN: 8776752240.
Porter, M.E (1980) “Competitive Strategy”, the Free Press, New York, 1980.
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Free Revisions. Our mission is to hone your paper to perfection. That’s why we offer you free revisions to make everything ideal and according to your needs. Feel free to ask for revisions if there is something you would like to be changed. That’s how our paper writing service works.
Money-Back Guarantee. You can get up to a 100% refund if you are dissatisfied with our work. Nevertheless, we are completely sure of our writers’ professionalism and credibility that offer you hard-core loyalty to our guarantees.
Comprehensible Explanations. ‘Can someone write my paper for me and provide clarifications?’ This question arises from time to time. Naturally, we want you to be totally prepared for the upcoming battle with your professor. If you need to fill the gaps in your knowledge, you can always ask for clarifications related to your paper. Moreover, when you order ‘write my paper for me’ service, you can always turn to our support agents for assistance. They will be glad to provide you with the necessary information and comprehensible explanations.
Fast and Customer-Focused Solutions. ‘Is it possible to do my paper for me so that I don’t worry about it at all?’ It certainly is! We offer all-encompassing solutions to all your academic problems by defining issues, determining their causes, selecting proper alternatives, and ultimately solving them. You are free to do your favorite activities while we are taking care of ongoing matters. You can always rely on us when it comes to essay-writing online and taking an individual approach to every case.
Who will write my paper when I order it?
Another crucial advantage of our service is our writers. You may have asked yourself, ‘I’d like to pay someone to write a paper for me, but who exactly will that person be?’ Once you order a paper, our managers will choose the best writer based on your requirements. You’ll get a writer who is a true expert in the relevant subject, and a perfect fit is certain to be found due to our thorough procedure of selecting.
Every applicant passes a complex procedure of tests to become one of our permanent writers. First of all, they should provide their credentials. We need to make sure that any prospective writers we hire have the proper experience.. The next step resides in passing a series of tests related to grammar, in addition to subject and/or discipline. Every paper-writer must pass them to prove their competency and their selected field of expertise.
One more step includes writing a sample to prove the ability to research and write consistently. Moreover, we always set our heart on hiring only devoted writers. When you ask us to write your essay or other academic works, you can be sure that they always do their best to provide you with well-structured and properly-written papers of high quality.
The final chord is related to special aspects of academic paper-writing. It means that every writer is prepared to cite properly, use different styles, and so on, so you don’t have to be worried about formatting at all.
‘So, can they write an ideal paper for me?’ We answer in the affirmative because we select only the best writers for our customers. Approximately 11% of all applicants can pass the whole set of tests and are ready to help you. All writers are fully compensated for their work and are highly motivated to provide you with the best results.
We are online 24/7 so that you could monitor the process of paper-writing and contact us whenever necessary. Don’t forget that your satisfaction is our priority. Our writers fully focus on your order when it comes to the ‘write my paper’ procedure. Our managers will immediately send all the information to your writer if any corrections are required.
It’s time to write my paper! What should I do?
‘I am ready to pay to have a paper written! Where do I start?’ Our team hears these words every day. We really believe that every student should be happy. That’s why we offer you to look at the simple steps to make the process even more convenient.
- Fill in the comprehensible order form located on the main page of our website. If you need some help with it, feel free to contact our support team.
- Provide the necessary details, such as the topic, subject or discipline, paper format, your academic level, etc.
- Select the deadline, and we will strictly follow it.
- Pay the total price. Submit a preferred payment method. The full sum will be deposited into your account on our website. The money will be transferred to your writer in case you approve the paper.
- If you have additional materials provided by your professor or may simply assist in writing your paper, please attach them too. They will help the assigned writer meet your professor’s expectations.
Every paper we can write for you is expertly-researched, well-structured, and consistent. Take a look at some types of papers we can help you with:
- Dissertations
- Research papers
- Case studies
- Term papers
- Business plans, etc.
Questions like ‘I would like you to write a paper for me without destroying my reputation. Can you promise to do so?’ or ‘Can you write my paper for me cheap and fast?’ often arise, and we take pride that these options are included in the list. Your safety and anonymity are parts of our common priority, which is to make you fully satisfied with all offered services.
Moreover, our pricing policy is flexible and allows you to select the options that totally suit your needs at affordable prices. You will be pleased with the results and the amount of money spent on your order. Our managers and writers will do the rest according to the highest standards.
Don’t hesitate and hire a writer to work on your paper now!
We believe that students know what is best for them, and if you suppose that it is time to ‘write my paper right now,’ we will help you handle it. ‘Will you do my paper without any hesitation?’ Of course, we will. Our service has all the necessary prerequisites to complete assignments regardless of their difficulty, academic level, or the number of pages. We choose a writer who has vast experience and a breadth of knowledge related to your topic.
Our ‘write my paper for me’ service offers a wide range of extra features to make the ordering process even more pleasant and convenient. Unlike lots of other services, we provide formatting, bibliography, amendments, and a title page for free.
‘When you write my paper for me? Can I monitor the process?’ Naturally, you can. We understand that you may want to ensure that everything is going well. Furthermore, there may be situations when some corrections are needed. We believe that a tool like this can come in handy. The assigned writer will strictly follow your and your professor’s requirements to make sure that your paper is perfect.
‘Is it possible to write my essay from scratch?’ We don’t do just proofreading or editing. Our goal is to fully carry your burden of writing. When this or similar questions appear, we always assure our customers that our writers can do whatever they need. Apart from writing from scratch or editing and proofreading, our experts can effortlessly cope with problem-solving of all kinds;even sophisticated software assignments!
Our ‘write my paper for me’ service is good for everyone who wants to delegate paper-writing to professionals and save precious time that can be spent differently and in a more practical way. We want you to be happy by offering the great opportunity to forget about endless and boring assignments once and forever. You won’t miss anything if your papers become the concern of our professional writers.
Don’t waste your precious time browsing other services. We provide you with everything you need while you are enjoying yourself by doing things you really enjoy. ‘Write my paper then! Do my paper for me right now!’ If you are ready to exclaim these words with delight, we welcome you to our haven, a place where students spend their time serenely and never worry about papers! It’s your turn to have fun, whereas our mission is to provide you with the best papers delivered on time!
Questions our customers ask
Can someone write my paper for me.
Yes, we can. We have writers ready to cope with papers of any complexity. Just contact our specialists and let us help you.
Who can I pay to write a paper for me?
We will help you select a writer according to your needs. As soon as you hire our specialist, you’ll see a significant improvement in your grades.
Can I pay someone to write a paper for me?
Yes, you can. We have lots of professionals to choose from. We employ only well-qualified experts with vast experience in academic paper writing.
What website will write a paper for me?
WritePaperFor.me is the website you need. We offer a wide range of services to cover all your needs. Just place an order and provide instructions, and we will write a perfect paper for you.
Is it safe to use your paper writing service?
Our service is completely safe and anonymous. We don’t keep your personal and payment details and use the latest encryption systems to protect you.
What are you waiting for?
You are a couple of clicks away from tranquility at an affordable price!
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Our customers’ feedback
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Why would I ask you to write paper for me?
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Fast Delivery. We completely understand how strict deadlines may be when it comes to writing your paper. Even if your paper is due tomorrow morning, you can always rely on us. Our writers meet all set deadlines unequivocally. This rule is ironclad! The offered range is wide and starts from 6 hours to 2 weeks. Which one to choose is totally up to you. On our part, we guarantee that our writers will deliver your order on time.
Free Revisions. Our mission is to hone your paper to perfection. That’s why we offer you free revisions to make everything ideal and according to your needs. Feel free to ask for revisions if there is something you would like to be changed. That’s how our paper writing service works.
Money-Back Guarantee. You can get up to a 100% refund if you are dissatisfied with our work. Nevertheless, we are completely sure of our writers’ professionalism and credibility that offer you hard-core loyalty to our guarantees.
Comprehensible Explanations. ‘Can someone write my paper for me and provide clarifications?’ This question arises from time to time. Naturally, we want you to be totally prepared for the upcoming battle with your professor. If you need to fill the gaps in your knowledge, you can always ask for clarifications related to your paper. Moreover, when you order ‘write my paper for me’ service, you can always turn to our support agents for assistance. They will be glad to provide you with the necessary information and comprehensible explanations.
Fast and Customer-Focused Solutions. ‘Is it possible to do my paper for me so that I don’t worry about it at all?’ It certainly is! We offer all-encompassing solutions to all your academic problems by defining issues, determining their causes, selecting proper alternatives, and ultimately solving them. You are free to do your favorite activities while we are taking care of ongoing matters. You can always rely on us when it comes to essay-writing online and taking an individual approach to every case.
Who will write my paper when I order it?
Another crucial advantage of our service is our writers. You may have asked yourself, ‘I’d like to pay someone to write a paper for me, but who exactly will that person be?’ Once you order a paper, our managers will choose the best writer based on your requirements. You’ll get a writer who is a true expert in the relevant subject, and a perfect fit is certain to be found due to our thorough procedure of selecting.
Every applicant passes a complex procedure of tests to become one of our permanent writers. First of all, they should provide their credentials. We need to make sure that any prospective writers we hire have the proper experience.. The next step resides in passing a series of tests related to grammar, in addition to subject and/or discipline. Every paper-writer must pass them to prove their competency and their selected field of expertise.
One more step includes writing a sample to prove the ability to research and write consistently. Moreover, we always set our heart on hiring only devoted writers. When you ask us to write your essay or other academic works, you can be sure that they always do their best to provide you with well-structured and properly-written papers of high quality.
The final chord is related to special aspects of academic paper-writing. It means that every writer is prepared to cite properly, use different styles, and so on, so you don’t have to be worried about formatting at all.
‘So, can they write an ideal paper for me?’ We answer in the affirmative because we select only the best writers for our customers. Approximately 11% of all applicants can pass the whole set of tests and are ready to help you. All writers are fully compensated for their work and are highly motivated to provide you with the best results.
We are online 24/7 so that you could monitor the process of paper-writing and contact us whenever necessary. Don’t forget that your satisfaction is our priority. Our writers fully focus on your order when it comes to the ‘write my paper’ procedure. Our managers will immediately send all the information to your writer if any corrections are required.
It’s time to write my paper! What should I do?
‘I am ready to pay to have a paper written! Where do I start?’ Our team hears these words every day. We really believe that every student should be happy. That’s why we offer you to look at the simple steps to make the process even more convenient.
- Fill in the comprehensible order form located on the main page of our website. If you need some help with it, feel free to contact our support team.
- Provide the necessary details, such as the topic, subject or discipline, paper format, your academic level, etc.
- Select the deadline, and we will strictly follow it.
- Pay the total price. Submit a preferred payment method. The full sum will be deposited into your account on our website. The money will be transferred to your writer in case you approve the paper.
- If you have additional materials provided by your professor or may simply assist in writing your paper, please attach them too. They will help the assigned writer meet your professor’s expectations.
Every paper we can write for you is expertly-researched, well-structured, and consistent. Take a look at some types of papers we can help you with:
- Dissertations
- Research papers
- Case studies
- Term papers
- Business plans, etc.
Questions like ‘I would like you to write a paper for me without destroying my reputation. Can you promise to do so?’ or ‘Can you write my paper for me cheap and fast?’ often arise, and we take pride that these options are included in the list. Your safety and anonymity are parts of our common priority, which is to make you fully satisfied with all offered services.
Moreover, our pricing policy is flexible and allows you to select the options that totally suit your needs at affordable prices. You will be pleased with the results and the amount of money spent on your order. Our managers and writers will do the rest according to the highest standards.
Don’t hesitate and hire a writer to work on your paper now!
We believe that students know what is best for them, and if you suppose that it is time to ‘write my paper right now,’ we will help you handle it. ‘Will you do my paper without any hesitation?’ Of course, we will. Our service has all the necessary prerequisites to complete assignments regardless of their difficulty, academic level, or the number of pages. We choose a writer who has vast experience and a breadth of knowledge related to your topic.
Our ‘write my paper for me’ service offers a wide range of extra features to make the ordering process even more pleasant and convenient. Unlike lots of other services, we provide formatting, bibliography, amendments, and a title page for free.
‘When you write my paper for me? Can I monitor the process?’ Naturally, you can. We understand that you may want to ensure that everything is going well. Furthermore, there may be situations when some corrections are needed. We believe that a tool like this can come in handy. The assigned writer will strictly follow your and your professor’s requirements to make sure that your paper is perfect.
‘Is it possible to write my essay from scratch?’ We don’t do just proofreading or editing. Our goal is to fully carry your burden of writing. When this or similar questions appear, we always assure our customers that our writers can do whatever they need. Apart from writing from scratch or editing and proofreading, our experts can effortlessly cope with problem-solving of all kinds;even sophisticated software assignments!
Our ‘write my paper for me’ service is good for everyone who wants to delegate paper-writing to professionals and save precious time that can be spent differently and in a more practical way. We want you to be happy by offering the great opportunity to forget about endless and boring assignments once and forever. You won’t miss anything if your papers become the concern of our professional writers.
Don’t waste your precious time browsing other services. We provide you with everything you need while you are enjoying yourself by doing things you really enjoy. ‘Write my paper then! Do my paper for me right now!’ If you are ready to exclaim these words with delight, we welcome you to our haven, a place where students spend their time serenely and never worry about papers! It’s your turn to have fun, whereas our mission is to provide you with the best papers delivered on time!
Questions our customers ask
Can someone write my paper for me.
Yes, we can. We have writers ready to cope with papers of any complexity. Just contact our specialists and let us help you.
Who can I pay to write a paper for me?
We will help you select a writer according to your needs. As soon as you hire our specialist, you’ll see a significant improvement in your grades.
Can I pay someone to write a paper for me?
Yes, you can. We have lots of professionals to choose from. We employ only well-qualified experts with vast experience in academic paper writing.
What website will write a paper for me?
WritePaperFor.me is the website you need. We offer a wide range of services to cover all your needs. Just place an order and provide instructions, and we will write a perfect paper for you.
Is it safe to use your paper writing service?
Our service is completely safe and anonymous. We don’t keep your personal and payment details and use the latest encryption systems to protect you.
What are you waiting for?
You are a couple of clicks away from tranquility at an affordable price!
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The promotional mix is just one aspect of the overall marketing mix, and it focuses on communication and interaction with potential customers. Four Elements of the Marketing Mix: Product - Anything that can be offered to a potential customer that fills a want or need. Price - The marketing mix factor that controls the volume of sales.
A promotion mix is a key method for delivering a relevant promotion message via the most suitable channel for each segment. Improves communication with clients. Companies develop a promotion mix trying to speak their consumers' language. If prepared correctly, it helps build trust between the brand and its customers.
Promotional mix refers to the combination of various types and amounts of various forms of promotion used by a marketer. ADVERTISEMENTS: The final selection of them depends upon the jobs assigned to promotion and the environment in which they are performed. Learn about:- 1. Introduction to Promotional Mix 2. Meaning of Promotion Mix 3.
The term mix implies that a company's promotion strategy is focused on more than one element, so the challenge is to integrate these different communication tools in an effective way. Following are different elements:
Promotion is an action to introduce products or solutions on the target audience, to build customer views about manufacturer or solutions offered. Marketing consists of components such as: advertising, advertising, personal selling and revenue promotion. Process
Free Essays from Bartleby | Promotion mix unit 9 I will be describing how the promotion mix is used for Calderdale College and Manchester United. Manchester... Essay; Topics; Writing; ... |RIGHT COLUMN | | |INTRODUCTION . 966 Words; 4 Pages; Decent Essays. Preview. Good Essays. Mexican Hot Chocolate Cookies Essay. 1135 Words; 5 Pages; Mexican ...
Essays.io ️ Marketing Mix, Essay Example from students accepted to Harvard, Stanford, and other elite schools. Essays.io ️ Marketing Mix, Essay Example from students accepted to Harvard, Stanford, and other elite schools ... Introduction According to Watts (2022, p. 31), the French Revolution of 1789-1793 caused immense social and political ...
Successful promotion helps a firm to spread costs over a larger output. 1.Product: (refers to the item actually being sold) A product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. For example good will for intangible.
Explains that a marketing mix is the combination of the elements of marketing and what roles each element plays in promoting the products and services. Explains that advertising is a form of non-personal promotion, wherein companies pay to promote ideas, goods or services in various media outlets.
The marketing mix is a combination of 4 P's (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. 'The marketing mix is designed to produce mutually satisfying exchanges with a target market'. 3300 Words 14 Pages Best Essays Read More
A marketing mix consists of a combination of factors that a business can control in order to influence consumers to purchase its products. By strategically manipulating these factors and continuously optimizing them, businesses can better serve their customers; in turn, boosting their bottom lines. Marketing mixes are comprised of the four P ...
This essay presents and explains the four elements of marketing mix; Product, Pricing, Promotion and Place. The Coca cola Company will be analyzed in this essay. Coca Cola Company Coca Cola Company is the world's number one manufacturer, marketer and distributor of non-alcoholic drinks.
Free essays about Marketing Proficient writing team Best quality of every paper Largest database of essay examples on PapersOwl.com! ... Introduction Business opportunities are very few when it comes to new products in the market. ... Topics: Economy, Success. Analysis of Marketing Mix Strategies for Wal-Mart Stores Company Words: 554 ...
This essay sample was donated by a student to help the academic community. Papers provided by EduBirdie writers usually outdo students' samples. Cite This Essay Download Introduction. The marketing mix could be a set of procedures and exercises that cover product, price, promotion and place (distribution). These are commonly alluded to as ...
Promotion is one of the four elements of marketing mix (product, price, place, promotion). It is the communication link between the buyers and sellers for the purpose of informing, influencing, or persuading a potential buyer's purchasing decision. Types of promotion Above the line promotion: Promotion in the media.
Elements of International Marketing Mix. Marketing mix refers to a set of controllable tools that the firm blends to produce the response it wants in the target market, as a result, it consists of everything the firm can do to influence the demand for its products. (Kotler and Armstrong, 2004, p. 242)
Given the title and prompt, EssayBot helps you find inspirational sources, suggest and paraphrase sentences, as well as generate and complete sentences using AI. If your essay will run through a plagiarism checker (such as Turnitin), don't worry. EssayBot paraphrases for you and erases plagiarism concerns.
Marketing Mix Essay Introduction: Adam Dobrinich. 77 . Customer Reviews. 4.9/5. BA/MA/MBA/PhD writers. A writer who is an expert in the respective field of study will be assigned. Featured . 4.9/5. 1977 Orders prepared. Essay, Discussion Board Post, Coursework, Research paper, Questions-Answers, Term paper, Response paper, Case Study, Book ...