Promotion Mix

What is Promotion Mix?

A promotion mix refers to a combination of various marketing strategies that are created by marketers to maximise promotional efforts and reach a larger audience. The task of the marketer is to identify the ideal promotion mix for a specific brand.

Marketing communication mix is another name for the promotion mix. The promotion mix is composed of a variety of promotion strategies.

Objectives of Promotion Mix

  1.  Awareness: To raise client awareness of the product, the marketer should use a variety of promotional strategies. It is important to be aware of brand names, features, and other factors. The marketer can use direct marketing, Public Relation, sales promotion, and advertising to achieve this objective.
  2. Information: Marketers need to make the clients aware of the products they are selling. This information may relate to a product’s uses, pricing, etc. Product details are primarily needed during the product launch stage.
  3.  Reminder: The marketing experts might use the promotion mix to remind buyers about the goods. Customers who already purchase the company’s products need to be notified so as to retain them for the long term.
  4.  Attitudes: The promotion mix assists the marketer in cultivating favourable client attitudes towards the product. Marketers can develop and maintain a good attitude among clients by engaging in personal selling and attending trade shows.
  5. Brand Image: Marketers must foster a favourable perception of their brands among consumers. This is possible by using appropriate methods in advertising, supporting deserving causes, etc. A strong brand reputation helps the business in boosting product demand.
  6. Educating the consumer: Some advertising aims to instruct the consumer on how to use the product. Even public service advertising tries to educate people about social issues like power conservation, the pulse polio campaign, noise pollution, etc.
  7. Dealing with competition: Marketers can deal with the competition successfully by using the components of the promotion mix. The marketer may refute the assertions made by significant rivals. Marketers can persuade customers that their products are better than their competitors.
  8. To increase market size: A marketer can increase the size of his market by using excellent promotion mix strategies. Market reach can be increased from local to regional, national, and even international levels.

Elements of Promotion Mix

  • Advertising: One of the most crucial components of the promotion mix is advertising. Almost all marketers use this component of the promotion mix. A sponsored kind of non-personal presentation of ideas, products, and services that are paid for by the consumer. Advertising messages are communicated by a variety of media, including radio, television, newspapers, and magazines.
  • Publicity: Publicity is free of cost technique of promoting concepts, products, and services in a non-personal setting. Newspapers promote businesses by running editorials about their products, policies, etc. in the mass media. One must note that the publicity may be positive or negative. Hence, a company must maintain positive relationships with the media.
  • Sales Promotion: It entails a variety of methods that influence intermediaries and target customers to take the intended action. Sales promotion uses a variety of strategies, including freebies, samples, contests, instalment sales, discounts, warranties, and guarantees, among others.
  • Personal Selling: Personal selling involves face-to-face interactions between clients and company personnel. It is the traditional method of selling products and services. A number of benefits of personal selling include positive customer relationships and clear product information.
  • Public Relations: Marketing firms are constantly worried about how their actions will be perceived by the general public. Public relations focuses mostly on audiences that are not part of the target market. It involves highlighting the company’s goals and objectives, carrying out social obligations, upholding goodwill, etc.
  • Packaging: An attractive package is a crucial component of the promotion mix. Intriguing and appealing packaging encourages customers to buy the goods. Customers can get information from packaging, which also preserves the product’s quality and promotes it.
  • Direct Marketing: Direct marketing tactics include those that are employed to market products directly to consumers. These methods include telemarketing, direct mail, and the yellow pages, among others.
  • Trade Shows and Exhibitions: Attending trade shows and exhibitions is an important component of the promotion strategy. The primary advantages of trade fairs and exhibits include the opportunity for product presentations, close competition monitoring, quick customer order booking, etc.
  • Sponsorships: A company may sponsor a social, sports, or cultural event. A company can develop and retain a unique image of its product in the minds of customers by sponsoring the right events.

Factors Influencing Promotion Mix

  1. Product type: It is the primary variable influencing the promotion mix. Marketing for consumer goods spends more on advertising, whereas marketing for industrial goods spends more on personal selling.
  2. Customer type: The type of client base also determine the promotion mix and their behaviour. Personal selling is best suited when there are fewer but larger buyers. Sales promotion strategies are better for customers who are price sensitive.
  3. Competitor’s strategy: Prior to deciding on a promotion mix, the marketer can study the competitor’s strategy. Marketers occasionally copy the tactics of their rivals. However, it’s important to proceed cautiously.
  4. Push and Pull strategies: The choice of a push or pull strategy affects the promotion mix decision as well. Sales promotion is best in the push strategy situation because marketing activities cater for dealers. Advertising proves best in the case of the pull strategy because promotional activities are focused on customers.
  5. Product life cycle: The promotion mix is also influenced by the stage of the product life cycle. Promotional efforts must be increased during the introduction phase, whereas they must decrease during the decline phase.
  6. Promotion Budget: The availability of the promotion budget with the firm also affects both the choice and scope of the promotion mix. A company with a larger promotion budget will be able to spend more on advertising.
  7. Salesforce availability: If a company has a wider sales staff on hand, personal selling will be the primary strategy, but companies with little to a few salespeople will rely on advertising and other forms of marketing.
  8. Firm’s position: The choice of promotion mix is also influenced by the firm’s position in the market. Large businesses may choose aggressive advertising over sales promotion. However, due to a lack of resources, small businesses may rely more on sales promotion than advertising.

Wrap Up

Above all, the promotional mix is just a small and last component of the overall marketing mix. The decision regarding the product’s advertising medium, the choice of marketing strategies, public relations, etc. are some of the important decisions made in the promotion mix.

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