Marketing is the department of the organizations which takes care of the planning, organizing and coordinating various functions which deal with the activities required for satisfying the demands and needs of the customers. The marketing has four main elements which make marketing-mix and used for strategizing the marketing plan which is a product, prices, place and promotion. The promotion is a primary function of the marketing mix. The promotion can be defined as any communication which is done by the organizations to attract the customers.
Promotion is the way to establish awareness about the products and services. With the help of promotional strategies the companies try to create an interest in the company’s products and then it helps them to generate sales. Promotions are also used as a crucial tool to build a loyal customer base by satisfying their needs and demands. The promotional mix is the combination an of all the activities and strategies which are used by the firms to create a communication with the consumers. Different elements of the promotional mix are advertising, sales promotion, personal selling and direct marketing. These days the companies are also including the event marketing, trade shows exhibitions to create effective communication with the employees. The managers use different strategies and plans by utilizing one or two promotional elements to promote their products or services, and it is known as the promotional plan. Promotion involves the method of the communication which is used by the marketing departments to reach to the consumer base.
THE PURPOSE OF PROMOTING THE PRODUCTS OR SERVICES
There are many objectives which the organizations want to achieve with the help of promotional mix which is written as below:
- This is the way to present that information to the consumers which the companies want them to know about the products and services.
- To create awareness about the product.
- Promotion mix also helps to increase the demand for the product.
- It is a very useful tool to differentiate a product from other which are present in the market. The companies can tell about the features and the benefits of their product.
- Increasing the sales of the company is the major goal of the promotional mix.
- Promotional mix is also useful for creating acceptance of a new product or service.
- With the help of promotions, the companies create brand equity for themselves.
- This also gives the organizations an opportunity to position their products in the mind of consumers by repeated and frequent communication.
- Companies can also create a good corporate image with the help of a promotional mix.
The promotions are done with the help of different media such as the physical environment, the traditional media which include newspapers, televisions, magazines and billboards etc. Then there are the digital media which is in much use these days, and it includes social media such as social networking sites, websites, emails and even the animations etc. The digitized marketing has taken the place of the traditional media, and it has become immensely fruitful for the companies.
The concept of promotional-mix
The promotional mix focuses on the target market, and it has four fundamental elements. These elements are the tools with the help of which the organizations. This is the way of communicating with the consumers which ultimately leads to the generation of the revenues and then the profits. Taking into account the distribution channels so that the sales of a product or service can be enhanced is also an essential step in the promotional mix strategies.
KEY ELEMENTS OF THE PROMOTIONAL-MIX
Advertising can be regarded as one of the most important and widely used promotional tools. The advertising is usually done with the help of paid campaigns where the marketing teams try to attract the attention of consumers. The advertising can be done by using different types of media such as print media for example newspapers, brochures, pamphlets, and the magazines etc. These days the print media has been replaced by the TV and internet usage. These are the tools for digital marketing, and they have a wide range and reach to the potential customers.
The advertising can be both positive and negative. When the organizations tell about the facilities and benefits they are going to provide to the customers, then it is called the positive advertising. But the advertising can also be used to spread bad word about the rivals, but the negative publicity is usually used during the elections etc. One critical aspect of advertising which has to keep in mind by the marketing managers is that it should be non-personal. The article “Commonly Used Advertising Techniques by Organizations” will give you in-depth insight into different methods which are used by companies for advertising.
- Sales Promotion
Sometimes the companies start short-term incentive or discount schemes which help to stimulate the desire of buying the product. These are considered as one of the most useful promotional techniques because it proves to be the most fruitful technique because it brings immediate effect on sale. One another applicability and benefit of the sales promotions is that with its help the organizations can clear their stock. Sales promotions also help the companies to stay ahead of their competitors.
- The Public Relations
Along with different elements of the promotional mix, a public relation is a tool which is used by the marketing departments to maintain a healthy and profitable association with the customers and other shareholders. This is a way of creating goodwill and positive image of the company in the market and the customer's eyes. By using this strategy, the marketers evaluate the attitude of the public and understand their inclinations as well as interests which the organization can target. Here the public does not only mean the consumers or customers but all the people involved in the successful operation of a company such as suppliers, distributors, and shareholders etc. are also included in it.
- Direct Marketing
The marketers sometimes approach the customers directly with the help of SMS, e-mails, fliers, by distributing the catalogues, calling on the phone, online advertising and promotional; letter and database marketing etc. This form of promotion and communication with the buyers is known as direct marketing.
- Personal selling
This is the technique where the marketers interact with the customers face to face for the selling purpose. The personal selling technique involves the two-way process where the salesperson provides the information about the product or service, and the customers can clarify their doubts by discussing them with the salesperson. Personal selling is particularly useful for the selling and buying complex and product.
These days the exhibitions are also used by the marketers to promote their company. The exhibition can be defined as a presentation of the items in an organized manner. The exhibitions which are organized for the business purpose are called commercial exhibitions. Trade shows and trade fairs are the types of commercial exhibits where the companies can showcase their new and latest products and services. Trade fairs also give the companies an opportunity to see what their rivals are doing, and this platform also gives them the chance to know and understand the latest trends in their industry. These days the digital exhibitions are also on trend, and these are also known as online exhibitions. With this, the companies can reach a large number of audience at the same time. The digital exhibitions include some methods such as video tours of the venues etc. The events are also a form of promotional mix which is being involved in the marketing tool these days.