Promotion mix
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This document provides an overview of promotion mix strategies. It defines promotion as communicating with customers to inform them about a product and persuade them to purchase it. The document then discusses various promotion techniques including advertising, sales promotion, personal selling, publicity, direct marketing, and public relations. It provides details on each technique, such as the objectives and examples. The factors that influence a company's promotion mix are also reviewed.
Promotion mix
- 1. PRESENTATION ON PROMOTION MIX SUBMITTED TO:- SUBMITTED BY :- Ms. GUNJAN MALIK PRANSHU BAJPAI (5307) MOHIT KHATRII (5308) MHM 3RD SEM
- 2. What is Promotion? It refers to the use of communication with the twin objectives of informing potential customers about a product and persuading them to buy it
- 3. Promotion involves disseminating information about the product, product line, brand, or company. It is one of the four keys aspects of the marketing mix. (the other three elements are product marketing, pricing and distribution.) To generate sales and profits, the benefits of product have to be communicated to customers. In marketing this is commonly known as “promotions”.
- 4. OBJECTIVES OF PROMOTION BUILD AWARENESS CREATE INTEREST PROVIDE INFORMATION STIMULATE DEMAND REINFORCE THE BRAND
- 5. Promotion techniques Promoting your business can take many different forms. We can promote it online and offline. Promotion is a very important part of every business imaginable. If we don’t promote it, how are the customers supposed to know about it? Here are some very effective ways to promote your product or service. •BUSINESS CARD •PRESS RELEASE •ORGANIZATIONS •NEWS LETTERS •FREE STUFF •WEBSITE
- 6. PROMOTION MIX Specific combination of promotional methods such as print or broadcast advertising, direct marketing, personal selling, point of sale display, merchandising, etc, used for one product or a family of products.
- 7. TOOLS/TECHNIQUES FOR PROMOTION MIX •ADVERTISING •SALES PROMOTION •PERSONAL SELLING •PUBLICITY •DIRECT MARKETING •PUBLIC RELATIONS
- 8. The factors that guide a marketer’s decision in selecting a promotion mix are :- Nature of the product market. Overall marketing strategy. Buyer readiness stage. Product life cycle stage.
- 9. ADVERTISING This means of providing the most persuasive possible selling message to the right prospects at the lowest possible cost. Kotler and Armstrong provide an alternative definition :- Advertising is any paid form of non-personal presentation and promotion of ideas, goods and services through mass media such as Newspapers, Magazines, Television or Radio identified sponsor.
- 10. It is impersonal form of promotion – In advertising there is no personal connection between the firm and the public who reads or sees the advertisement. It is the most visible form of promotional tools – The advertising of a particular product can be done through putting up posters, banners, television ads, radio or so on the internet.
- 11. Medium used are radio, T.V, internet, newspaper for advertising – The most effective method of advertising is through media. It can be done through television ads, internet links, radio and newspaper. Identifies sponsor – It is undertaken by some identified individuals or company who makes the advertising efforts and also bears the cost of it.
- 13. SALES PROMOTION It refers to the short term incentives, which are designed to encourage the buyers to make immediate purchase of a product or service. It may include an advertising campaign, increased PR activity, a free sample campaign, offering free gifts or trading stamps, arranging demonstrations or exhibitions, setting up competitions with attractive prizes, temporary price reductions, door-to-door calling, telemarketing, personal letters on other methods.
- 14. Short term incentives offered to encourage sales – Giving the customer to try or test your product (especially if it’s a consumable product). The customer will use the product and if liked by them, would go to buy that particular product. Gains intentions and has immediate effects. Example: Rebate, refunds, discounts, gifts, product quantity, lucky draws stc.
- 16. PERSONAL SELLING It involves oral presentation of message in the form of conversation with one or more prospective customers for the purpose of making sales. Personal selling is one of the oldest forms of promotion. It involves the use of a sale force to support a push strategy (encouraging intermediaries to buy the product) or a pull strategy ( where the role of the sales force may be limited to supporting retailers and providing after-sale service).
- 17. •Oral face to face presentation of message with prospective customer- Here, the firm appoints sale s persons to go from door to door and advertise their products. This helps give a personal touch as the sales person explains to the customer. •It is flexible and has immediate effect – if a customer wants to inquire in detail about a particular product they can do so. They can clear all quires regarding the product and be satisfied. •Development of relationship – direct contact helps develop personal relationship with the prospective customers which may important in making sales. •Example: Door to door demonstrations, explanation and display by salesman.
- 19. PUBLICITY It is non personal and non paid form of a communication. It includes promoting the product through media. It usually comes in the form of news story, editorial, or announcements about an organization and/or its product and services. Techniques used to gain publicity include news releases, press conferences, feature articles, photographs, films and videotapes.
- 20. It is unpaid – Does not involve any direct expenditure by the marketing firm. No identified sponsor – As the message goes as news item, the sponsor is not identified. Done through press conference, speeches, annual reports, events, publications, donations and sponsorship.
- 22. DIRECT MARKETING It is concerned with establishing an individual relationship between the business offering a product or service and the final customer. Direct marketing has been defined by the institute of direct marketing as: “the planned recording, analysis and tracking of customer behavior to develop a relational marketing strategies.”
- 23. The process of direct marketing covers a wide range of promotional activities, these include:
- 25. PUBLIC RELATIONS Building good relationship with the company’s various publics (stakeholders) building up a good corporate image. The major tools are press releases, sponsorships, special events, web pages. To enhance the positive aspects and minimize negative factors related to products and organizations.
- 27. THANK YOU