Promotional Mix

11 Key excerpts on "Promotional Mix"

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  Marketing Management N5 SB

  TVET FIRST

  • J Wiehan I Govender(Author)
  • 2018(Publication Date)
  • Macmillan

    (Publisher)

  What is a promotional or marketing communications mix? The Promotional Mix is a single, integrated element of the 4Ps of the marketing mix that includes price, place and product. It is a specific blend of advertising, personal selling, sales promotion and publicity (see Figure 4.11). Direct marketing and Internet marketing are two additional tools that a business can use to inform, persuade, or remind target markets about its offerings. Elements of Promotional Mix Advertising Personal selling Publicity and public relations Sales promotion Figure 4.11: The four Promotional Mix tools A marketer needs to understand that each of the Promotional Mix tools have unique characteristics and costs. This will impact on how the promotion mix will be planned to achieve the general and specific promotional objectives of a business. Advertising Advertising: • Is any paid form of non-personal promotion of products, services or ideas by an identified sponsor (a business or individual). • A sponsor usually pays for the placement of an advertisement in the media with the aim of informing or influencing current or potential customers about a business’s product or service. Unit 4.4: 4.4.1: Promotional Mix: a specific blend of advertising, public relations, personal selling, sales promotion, direct marketing and Internet marketing methods that a business can use to inform, persuade, or remind target markets about its offerings publicity: a PR tool used to gain public awareness of, or a favourable response to, a business, product, service, policy or event in the mass media 212 Module 4 • The sponsor controls the content of the message, and can use different adverts in various media, such as television, print, radio, sponsorships and the Internet, to convey its marketing message. • The advertising industry involves advertising agencies that create the advertisements, the media that carries the advertisements, and creative advertising people such as copywriters, researchers and designers.

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  MKTG

  • Charles Lamb, Joe Hair, Carl McDaniel, , Charles Lamb, Charles Lamb, Joe Hair, Carl McDaniel(Authors)
  • 2020(Publication Date)
  • Cengage Learning EMEA

    (Publisher)

  Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. 15-4 THE Promotional Mix Most promotional strategies use several ingredients—which may include advertising, pub- lic relations, sales promotion, personal selling, and social media—to reach a target market. That com- bination is called the Promotional Mix. The proper Promotional Mix is the one that management believes will meet the needs of the target market and fulfill the organization’s overall goals. Data and data analytics play a very important role in how marketers distribute funding among their Promotional Mix tactics. Netflix, for example, uses data analytics to identify what people are organically interested in, to determine the content they invest in, and how to promote that content. The more funds allocated to each promotional ingredient and the more managerial emphasis placed on each technique, the more important that element is thought to be in the overall mix. 15-4a Advertising Almost all companies selling a good or a service use ad- vertising, whether in the form of a multimillion-dollar campaign or a simple classified ad in a newspaper. Advertising is any form of impersonal paid commu- nication in which the sponsor or company is identified. Media—such as television, radio, newspapers, maga- zines, pay-per-click search advertising, digital display advertising, social media advertising, direct mail, bill- boards, and transit advertising (such as on buses and taxis and at bus stops), websites, email marketing, blog, video and interactive games—are often used to transmit advertisements to consumers.

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  Business marketing management in a Business-to-Business context

  • D.P. Warne(Author)
  • 2023(Publication Date)
  • Society Publishing

    (Publisher)

  ANALYTIC THINKING All products, even the best, require advertising. When it comes to acquiring your product or service, you must first educate your clients. The “Promotional Mix” refers to the many tactics you use to promote your products and services. Changing your company’s Promotional Mix for the best results might be difficult. What you should know before you start Persuasion is an essential component of every marketing plan. You’re attempting to persuade folks to buy from you. You must adopt the proper promotional plan if you want to catch the attention of your target audience respectably and engagingly. Make certain they are aware of what you have to offer. You must convince them to buy from you. A Promotional Mix is made up of five main components (Baumgarth & Schmidt, 2010): advertising or public relations; Business Marketing Management in a Business-to-Business Context 164 promotion of for-sale goods and services; marketing via direct contact; individual product, and service sales. A multitude of things influence your marketing mix, including the items you’re promoting, the demographics of your target audience, the status of the market, and your promotional budget. Communication will be more effective if it is both appealing and intelligible. Your target market is the group of people who will utilize or benefit from your product or service. Understanding these people’s attitudes and activities will allow you to craft the most effective message and select the most successful form of communication. Based on recent sales or market research, those earning more than $75,000 per year are your ideal consumers for a high-end jewelry firm, for example. As a result, print advertising should appear only in journals with readerships earning at least $75,000 per year (Bendixen et al., 2004).

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  N5 Marketing Mix

  • B van der Westhuyzen, J van der Merwe, B van der Westhuyzen, J van der Merwe(Authors)
  • 2016(Publication Date)
  • Future Managers

    (Publisher)

  The promotional strategy is a plan for the optimal blend of all the elements of the Promotional Mix, namely, advertising, publicity, sales promotion and personal selling . The general objective of the promotion function is to inform, persuade and remind the target market about the product’s differential advantage. An enterprise gains a differential advantage when a product or service distinguishes itself, for instance, in terms of products superior quality, speedy delivery, lower prices or outstanding service. These differentiating features are also called the product’s unique selling proposition (USP). The elements of the promotion mix are used to communicate with the consumer, and are also successfully used to gain a competitive advantage in the distribution channels (through the various intermediaries), the different phases of the product life cycle (introduction, growth, maturity and decline), and when different price strategies are used. DEFINITION Promotion can be described as any form of communication that is used to inform, to persuade and to remind consumers to buy the product or service sold by a certain enterprise. Advertising Publicity Sales promotion Personal selling Product Place Price Promotion mix MARKETING MIX E-LINK Read the following article: Meaning and importance of Promotion in marketing http://hubpages.com/business/Meaning-and-importance-of-Promotion NB! Please note that the Promotion Mix is also referred to as the Marketing Communication Mix or the Promotion strategy may be called the Marketing Communication strategy

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  Visualizing Marketing

  From Abstract to Intuitive

  • S. Umit Kucuk(Author)
  • 2016(Publication Date)
  • Palgrave Macmillan

    (Publisher)

  CHAPTER 6 Promotion Abstract This chapter introduces visual representations of promotion within the marketing mix. The effectiveness of advertising and sales pro- motion, post-promotion dips, public relations, personal selling, and inter- active marketing are discussed and illustrated with figures and graphs. Comparisons of these elements and their coordination for a successful marketing communication strategy are also investigated. Keywords Advertising  Sales promotion  Interactive marketing  Repetition  Public relations  Personal selling  Promotion mix Companies use various promotion tools to communicate the value created by products/services to consumers. Promotion practices have two princi- pal goals: offering information to consumers about products’ features and attributes; and building the right image and identity to convince or per- suade consumers to buy the product by changing their beliefs about it. In every communication process, there are always three major components: 1. Audience—Who is your audience? What do they like? What do they want to hear? 2. Message—What are the appealing signs, symbols, semiotics you need to use? What is the content or feature of your message? What do you want to tell your audience? © The Author(s) 2017 S.U. Kucuk, Visualizing Marketing, DOI 10.1007/978-3-319-48027-5_6 59 3. Channel—What is the best way to reach your audience: TV, Internet, or print? Which source do they use when they need infor- mation? Or, when and how do consumers use various message channels? Every promotion communication uses four major marketing techniques to reach these goals: advertising, sales promotion, public relations, and personal selling. These four tools are also called the promotion mix elements. Advertising on TV or radio is a perfect tool to reach the mass of the population as the cost per contact is very low compared to other promotion-mix elements.

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  Business-to-Business Marketing

  A Strategic Approach

  • Michael H. Morris, Leyland F. Pitt, Earl Dwight Honeycutt, Jr.(Authors)
  • 2001(Publication Date)
  • SAGE Publications, Inc

    (Publisher)

  They do not badger, ir-ritate, or always try to sell something to these audiences. Instead, firms are engaged in an ongoing conversation or dialogue. Firms have a central message but realize they must continually adapt their communications to reflect the needs and prob-lems of customers and others. It is important for managers to understand that a dia-logue is a two-way conversation, and today's marketers recognize the need to con-tinually listen to their customers, respond, and then listen some more. Companies can communicate with business customers in numerous ways. Each means of communication is a promotional tool, and the way in which the marketer combines these tools is called the Promotional Mix or blend. For simplicity, the pro-motional mix is organized into four major components: personal selling, advertising, sales promotion, and publicity. These four areas include all the possible ways in which a marketer can communicate with a target audience. Personal selling, usually the cornerstone of the industrial promotional effort, in-volves direct one-to-one contact with current and potential customers, either in per-son or by telephone. Advertising —a nonpersonal method of communication where a message is placed in a medium for a fee—has the capability to reach a larger number of potential buyers, users, influencers, deciders, and gatekeepers than does personal selling. Sales promotion is a catch-all category of sales support activities, including both personal and impersonal communication tactics. Trade shows, samples, premi-ums, rebates, trade-in allowances, calendars, and customer entertainment are exam- Communications With Business Customers 3 5 3 pies. Publicity attempts to influence target groups without incurring direct costs. Pub-licity involves the release of company or product information to print or broadcast media with the hope that it will be disseminated.

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  The Essentials of Contemporary Marketing

  • Mo Willan(Author)
  • 2021(Publication Date)
  • Bloomsbury Business

    (Publisher)

  CHAPTER TWELVE The Promotion Mix

  The fourth element of the marketing mix is Promotion. Once the firm has produced its products, set its prices and determined channels of distribution, it should now focus on creating persuasive communications to its target audiences in order to create awareness and subsequent demand for its products. Without this awareness, consumers will not know of the ­existence of the firm’s products and hence will not buy. Promotions or marketing communications refers to the exchange of marketing information between an organization and its publics. Publics include the following:

  • Customers • Shareholders • Employees • The government • The local community in which the organization operates • Trade unions • Pressure groups • The media The Communication Process

  Figure 17: Linear Model of Communication The elements of the communication model can be classified as follows:

  • Sender – the party sending the message to another party

  • Encoding – putting thought into symbolic form

  • Message – the content of the communication that the sender sends to the receiver

  • Media – the communication channels used for sending the message

  • Decoding – the receiver translates and interprets message

  • Receiver – the party receiving the message

  • Response – the receiver reacting to the message

  • Feedback – the part of the receiver’s response which is communicated back to the sender

  • Noise – factors that prevent the decoding of a message by the receiver in the way intended by the sender

  Tasks Of Marketing Communications The following points need to be considered: • Who should receive the messages?

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  Marketing Communication

  A Critical Introduction

  • Richard Varey(Author)
  • 2002(Publication Date)
  • Routledge

    (Publisher)

  The 4P system is the traditional classification of the marketing mix. It reminds managers of some basic principles and is easy to remember. It is also lacking in clarity. The ‘promotion’ (the Latin root ‘promo’ means to bring forward) element really has two dimensions: communication and persuasion (and not all communication has the purpose of persuading or selling). Are the ‘mix’ elements activities or objects (i.e. tools or instruments)? How are the properties or characteristics by which elements are classified actually specified? Does not sales promotion overlap with advertising and personal selling and with the product, price, and place categories? Should product really cover products so as to reveal cost, sales, and competition interdependencies among a range of products? Does the marketing mix coincide with marketing functions and the associated marketing objectives?

  Grönroos (2000) explains the limits of the marketing mix way of thinking about the marketing needs of a business. Efforts have been made to elaborate usefully the 4P framework to better deal with the managerial problems of service business (see, for example, the 7P model of Booms and Bitner).

  Mostly, even today, marketing communication is taken to be only promotional and persuasive message-making and broadcast. We take a much broader approach in this book (Box 7.2 ).

  BOX 7.2 AN ALTERNATIVE DEFINITION OF MARKETING COMMUNICATION

  The managerial system that ensures timely and comprehensive input to the corporate information and decision-making (generative) process, and the consequent production and expression of credible, persuasive representations of beneficial exchange opportunities with actual and prospective customers and other stakeholders. Marketing is thus the interface element of the corporate appreciative system.

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  Advertising & Promotions NQF3 SB

  TVET FIRST

  • Sparrow Consulting(Author)
  • 2013(Publication Date)
  • Macmillan

    (Publisher)

  • Public relations – Formal communication (verbal or written statement) is used to create sympathetic feelings towards something, or to create a positive image for a person or product. This technique is sometimes used by companies to build trust with customers. Figure 4.2: Successful above and below the line advertising will ensure that a product stands out among similar products. Promotional Mix The Promotional Mix is made up of differing amounts of advertising, public relations, personal selling and sales promotion (using promotional techniques such as sales, specials, discounts, etc.). What works for one product will not necessarily work for the next; therefore the specific mix or blend for the product must be carefully planned. Subtle : Difficult to see or describe. Words & Terms 55 Module 4: Extending knowledge of promotions to various promotional activities within the… This mix is weighted in terms of how much time and money is allocated to each specific technique. For example, when Coca-Cola wants to remind people through promotion how great their product is, they will undoubtedly use television, the Internet and printed media adverts to do the majority of the advertising work. They may also create an official key ring, cap or glass that is given away. This is done to keep their product in the consumers’ minds. In this case, the majority of the total time and money allocated to the Promotional Mix would be given to above line promotion. However, for a company that is less well known, or one just starting out, it may be necessary to create a more balanced promotional plan to raise awareness of a particular product or service. What type of companies do you think would use these key rings as part of their Promotional Mix? How should they add their brand to the key ring? In the workplace Assessment activity 4.1 Group activity Make a list of 10 promotional activities (as listed in this unit or any others you have discussed in class or learnt about previously).

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  Marketing Hospitality

  • Cathy H. C. Hsu, Tom Powers(Authors)
  • 2002(Publication Date)
  • Wiley

    (Publisher)

  12 Marketing Communication: Advertising (Photo courtesy of W Hotels.) When you have finished reading this chapter, you should be able to: ■ Describe the major components of marketing communication. ■ Identify the appropriate types of communication strategy under different circum- stances. ■ Explain the objectives of promotion. ■ Discuss the five key considerations in advertising planning. ■ Identify four advertising audience segments. ■ Understand advertising media characteristics. ■ List the major media used in advertising. 268 Chapter 12 / Marketing Communication: Advertising The terms “promotion” and “communication” are sometimes used interchangeably in marketing. Because marketing communication, or promotion, includes activities such as advertising and selling, it is the element of the marketing mix many people think of first when marketing comes to mind. Indeed, some people confuse promotional activities with marketing. They think that selling or advertising is marketing. We saved our consideration of communication to end the discussion of the marketing mix to emphasize that the success of marketing communication depends on the products and services offered, the place in which they are offered, and the price at which the offer is made. However, this is not to say that promotion is not as important as the other three elements of the marketing mix. Actually, promotion is so important that we devote two chapters to it. In this chapter we consider advertising, and in the next we examine sales promotion, public relations and publicity, and personal selling. Before we discuss advertising, however, it is appropriate to introduce the major forms of marketing communication. Communication Mix The communication mix includes advertising, sales promotion, public relations and publicity, and personal selling. All but personal selling are methods used to address mass audiences.

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  CIM Coursebook 08/09 Marketing Communications

  • Chris Fill, Graham Hughes(Authors)
  • 2012(Publication Date)
  • Routledge

    (Publisher)

  The communications mix is the use of any or all of the above-described elements in a unified and cohesive manner designed to achieve specifically defined and measurable promotions objectives. It is important to understand at this stage that these are the tools used in all forms of marketing communications, whether they be for packaged consumer goods, consumer durables, industrial products or services. In terms of marketing communications planning, the nature of the product or service which is to be promoted makes little difference – the same communications tools will be employed. Each element of the marketing communications mix will, however, have a specific task to achieve and it is the deployment of the tools to achieve the objectives which will be an important part of the overall understanding of the subject.

  The elements of the marketing communications mix have different properties and different potentials to achieve different tasks. Therefore, managers must mix the tools in such a way that they achieve the actual tasks at hand, within the resources available.

  Activity 2.3 Identify a product (this may be something purchased from a supermarket or chemist) and a service (such as banking or dry cleaning). Do some research and make a list of the elements of marketing communications which are used by the company to support the brand.

  Obviously, each element of the marketing communications mix can be used on its own. In fact, though, this is rarely the case. Most companies use some combination of the marketing communications tools in order to achieve their objectives. Most advertising campaigns will be supported with sales promotions activities or PR, or both. A direct mail campaign may follow media activity designed to stimulate interest in the product. Most companies use point-of-purchase material to remind the consumer of their advertising message at the point where purchase decisions are made. A recent yet long-running car campaign included, among other things, a major television, print and poster advertising, PR activity resulting in major articles in the national press about both the car and the advertising, dealer support activity, exhibitions, sponsorship and direct mail.

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