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A to Z Full Forms and Acronyms

What is Promotion Mix? What are the elements of Promotion Mix

May 30, 2021 promotion mix, 501 Views
what is promotion mix? what are the elements of promotion mix and importance of promotion mix

What is Promotion Mix? What are the elements of Promotion Mix

What is Promotion mix?

Promotion mix refers to the specific combination of the tools, channels, and processes which is used by the marketer to promote it’s brand or products. Promotion mix defines the channels used by the marketers to reach their customers.

Elements of promotion mix:

There are four elements of promotion mix

  1. Advertising
  2. Direct selling
  3. Sales promotion
  4. Public relations

1) Advertising:

Advertising is any paid form of promotion used by the marketer to promote their products and services and also increase the brand awareness. Marketer uses different platforms to reach mass people, some of the platform are, adverting of product through television, radio, newspaper, email, banner, social media platforms etc.

2) Direct selling:

This is one of the traditional forms of promotional tool used by the marketers to promote their brands or products/services. Under direct selling their is one-to-one communication between a sales representative and a potential customer with the objective to influence the customer to purchase the product or services. Direct selling deliberate as a highly effective and costly tool of market promotion.

3) Sales Promotion:

sales promotion are short-term strategy that are designed to encourage immediate purchase. Sales promotion strategy are floated by the marketer in the market at the time of festivals or the end of the season. Sales promotion offers are time sensitive offers -sales, discounts, coupons, Payback offers, Freebies etc., are some of the sales promotion schemes. With the sales promotion, the marketers focuses on the short-term profits, by attracting both the existing customers and the new customers.

4) Public relation: The public relations is comprehensive term that has maintain constructive relations with customers, suppliers, and middlemen, however additionally with an outsized set of interested publics.

Importance of promotion mix:

1) Promotion mix help to increase brand awareness:

Promotion mix help to increase brand awareness in the market. With the help of different promotion tools like television, radio, newspaper, banners, emails etc., are used by the marketer to spread the information about the product and services.

2) Promotion mix Improves communication with clients:

Promotion also helps in increasing customer. The more you promote your product or brand, the more will the customers know about the brand and the more will they be interested in your service/products. Marketers can give free samples of their products or services which work wonders for customers! They try your products or services and ultimately, come to you and make purchases.

Promotion mix provide information to subscribers:

Promotion mix strategy are used by the marketer to provide information about their products and services and also marketer try to show their product from the best angle. Youtube, Instagram, facebook, twitter and some other social media platforms are used by the marketers as a tools to educate people about the products and services they provide.

Promotion mix helps marketer to sale goods in imperfect market:

Promotion mix helps in sale of good in imperfect market, as in imperfect market condition the product which are sold by the firms/ marketers are heterogeneous in nature so it become difficult for the marketer to sale their products on the basis of price differentiation. So with the help of promotion activity marketers are able to provide information about the difference, characteristics and multi-use of the product of various competition in the market. On the basis of these information customers are attracted to purchase the products.

 

A to Z Full Forms and Acronyms

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