Whether it is a private or public sector, organizations today are aware of the fact that it is very essential to communicate the target audience effectively and efficiently. Advertisements, personal selling, exhibitions, sales promotion etc. are various methods of promotion by which consumer come to know about the various products in the market.
Promotion mix is also called marketing communication mix. Promotion is one of the elements of marketing mix. The success of any product depends upon the appropriate promotion mix. The elements of promotion mix are:
1. Advertising: – it is non personal presentation. For advertisement newspapers, magazines, hoardings, banners, radio, television etc. are used.
2. Personal selling: – it means direct personal presentation by company’s sales force for sale.
3. Public relation: – it means building good public relation by favorable publicity.
4. Sales promotion: – it is done by way of displays, exhibitions, demonstrations or samples etc.
5. Direct marketing: – it means making direct communication with the consumer on one to one basis through direct mail, fax etc.
AIDA model for promotion mix:
The marketer must consider AIDA model while communicating the product to the consumer it consists of attention, interest, desire and action.
AIDA model works in a way that firstly the promotion of the product should be done in such a way that it should grab the attention of the consumer then it must create interest in the mind of the consumer, by creating a sense of likingness among the consumer. Then it must create desire among the consumer to buy the product and ultimately consumer makes an action and buys the product.
Integrated marketing communication (IMC):
Under this concept the company carefully integrates its communication channels to deliver a clear, consistent message about the organization and the product. IMC involves following five major participants.
1. The advertiser or client: – the client has the product to be marketed and the advertiser develops the marketing programme. Then he makes the final decision about the promotional programme.
2. Advertising agency: – there are various advertising agencies that are specialized in the creation of communication message. Many large business houses avail the services of these advertising agencies.
3. Media organizations: – it is also an important participant of IMC. Newspapers or TV channels provide them space to advertise their product like newspapers provide them appropriate space at an appropriate rate and TV channels give them a particular time to advertise their product.
4. Specialized services: – there are other specialized agencies like sales promotion agencies develop promotional programmes, interactive agencies help in making websites for the marketer to advertise their product, and public relation agencies make the publicity for the company.
5. Collateral services: – these agencies provide services to the advertisers, media agencies and other communication firms in planning and executing advertising function.
Factors determining promotion mix:
1. Type of product: – the promotional strategy depends upon the type of product like if it is frequently bought product then it required regular promotion and if it is luxury product then it required direct selling, personal buying etc.
2. Nature of market: – if the target market is large enough then the product required regular marketing.
3. Stage in product life cycle: – if it is early growth stage then it required regular promotion.
4. Budget availability: – the promotion depends upon the budget of the company for the product.
5. Company policy: – the policy of the company, decision of the top management also influences the promotion decisions.
Push and pull strategy:
Push strategy means pushing the product from manufacturer to the consumer
Manufacturer———-à retailers——–à consumer
Pull strategy means where the consumer demands the product from the channel members.
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