Is a set of activities designed to inform and persuade consumers about the products or services offered for sale by the marketer. It includes various tools like Advertising, Personal Selling, Sales Promotion and Publicity etc.
The
promotion is represented by the elements such as Advertising, Personal Selling,
Sales Promotion and Publicity etc. It is also called as “Promotion Mix”
Objectives
of Promotion
- Create Awareness about products
- Educate the consumer
- Motivate or induce the customer to buy the products
- Convert prospective consumer into Actual consumer
- Create an Image for the company and products
- Create the strong perception in the minds of consumers
- Control and regulate the competition
- Motivates all other parties involves in the process of Marketing
Elements
or Methods or Medias of Promotion Mix/ Promotional Mix Strategies
Advertising
Is
a favorable presentation of ideas, goods or services that offer from a marketer
in order to make customers and general public aware and induce them to buy the
product.
According
to American Marketing Association “Any paid form of non-personal presentation
of ideas, goods and services by an Indentified Sponsor”.
Medias
or Methods of Advertising
Electronic
Medias
- Radio
- Television
- Computer/Internet
- Mobile Technologies
- Electronic Sign and Bulletin Boards
- Cinema Theatres
- Cable TV
- Discs
- Tele Marketing
Print
Medias
- News Papers (for a Day)
- Magazines (for 15 Days)
- Journals (for a Month)
- Publication (Once in a year)
- Catalogues
- Prospectus
- Pamphlets and Posters
- Mailers
- Street Furnitures
The
analysis of the above method is explained with the help of following points
such as:
- Cost Effectiveness
- Level of Motivation
- Forms of Message
- Life of the media
- Flexibility in presenting the information
- Exposure
- Attractions
- Convenience of the Consumers
- Scope of the Media
- Quality of the Message
Advantages
of Advertising
- Helps in Promotion
- Assist channel partners
- Brand Awareness
- Encourage the Sales and salesmen’s
- Create employment opportunities
- Can be reach large no of Customer
Disadvantages
of Advertising
- It increases the product cost
- Misleads the consumers
- It increases the stupidity of consumers
- Create unwanted desire in the minds of Consumers
- Encourage Monopolistic competition
- Waste of National resources
- One way communication
Personal
Selling or Salesmanship
Is
a direct form of communication between company responsiveness and a customer to
communicate about a product or service. Under this Salesmen and consumer meet
face to face with each other’s. The
sales people or Company representatives should be equipped with expertise,
appearance, and specialist product knowledge to answer the questions.
Types
of Personal Selling or Levels of Salesmanship
- Industrial
Salesman – Represent by a company with sufficient information
about particular goods to connivance and induce the Consumer.
- Merchant
Salesman – Represents salesmanship at the resale level
- Customer
Salesman – At the retail level for selling all types of consumer
goods to customer in the store
Advantages
- Direct form of selling
- Two-way communication
- Quicker feedback
- Cost Effective
- High level adoptability
- Provide flexibility
- Individual Attention
Sales
Promotion
A
set of collection of incentives, tools, designed to stimulate quicker and
greater purchase of particular product or Services. The sales promotion
activities attempts to provide added value or incentives to consumers also
other members of distribution channel
Methods
and Techniques of Sales Promotion
- Allowance,
Discount and Deals – These are conditional benefits offered
for quantity purchases or for advertising the manufacturer’s product for
carrying a special product display. For
Ex: Metro Cash and Carry Discounts.
- Loyalty
Programs – Are also called as frequent buyer programs, rewards
who engage in repeat purchases. For Ex: Benefits provide by Credit Card
Companies
- Point
of Purchase Promotion – Displays and demonstrations, in
store exhibits designed to induce impulse purchases
- Samples
–
Fee Samples to stimulate trial of a product, this could in the form of food,
bottles or packs of the product.
- Vouchers
and Coupons – A coupon is certificates that entitle the
bearer to get rebate on the price of a product. Some these are printed or
inserted on newspapers and magazines, on packs.
- Contest
and Prize Draws – Consumer contest and lucky prize draws or
scratch cards, chance to win cash, trips are offered to customer if they
purchase something.
- Premiums
–
This can in the form of gift or buy one get one or more free deals.
- Exchange
Offers – This includes buying new merchandise by offering a
used product plus some amount to compensate the value of new merchandise.
- Publicity
–
Is the unpaid communication about an organization that appears in the mass
media. It’s more powerful to building credibility (Goodwill) and awareness of
marketers and consumers. They are many forms of Publicities such as:
- News articles and Interview (Photo Journalism)
- Experts Quotes
- Self- Authorized stories
- Documentary programs in Medias
- Social Networking
Public
Relations
Is
a marketing communication factions intended to collaborate and build
relationship with publics including stakeholders and government. The person one
who engaged in this activity is called a Public Relation Officer (PRO)
Types
of Public Relations
- Press Release
- Investor Relations
- Speeches
- Media Relations
- Sponsorships
- Public Service Activities
