Promotion is marketing activity that stimulates demand for a firm’s products. Maketers promote everything from needle to aircraft. Once the product has been created, promotion is often used to competition.Promotional strategy is the plan for informing, persuading, or reminding the target market about a product. The goal is to stimulate action. In a profit-oriented firm, the desired action is for the consumer to buy the promoted item.
The combination of advertising, personal selling, sales promotion, and publicity used to promote a product is called the promotional mix.
Advertising is any nonpersonal message paid for by an identifiable sponsor for the purpose of promoting products. Companies use two types of advertising: product advertising and institutional advertising. Product advertising, is advertising intended to promote demand for a product or service such as Pepsodent toothpaste. Institutional advertising is advertising done to enhance a company ‘s public image rather than to sell a product.
The second element of the promotional mix is personal selling. It is a face-to face attempt to persuade prospective customers to buy a given product. Personal selling provides the company with the opportunity (1) to give customers individuals attention, (2) to adapt a message to the customer, (3) to focus on a specific target market, (4) to receive immediate feedback, and (5) to provide the opportunity to close the sale.
The third element of the promotional mix is sales promotion. It is the marketing activities, other than personal selling and advertising that stimulate consumers purchasing and dealer effectiveness. Sales promotion supports the other three elements in the marketing mix.
The fourth element of the promotional mix is publicity. It is nonpaid, nonpersonal communication to promote the products, services, or image of the company. It is an important element of the promotional mix that can be overlooked because of its nature.
The four elements of the promotional mix need to be blended to communicate effectively to a target market. Each type of promotion serves a different function and therefore should support the other elements. There are two potential promotional strategy: push strategy and pull strategy.
A push strategy is a strategy directed at the members of the marketing channels rather than the consumer. A pull strategy is a strategy aimed at the consumer. To accomplish this strategy rely on the advertising, sales promotion, and publicity elements of the promotiuon mix.
QUESTIONS FOR COMPREHENSION
1. What is promotion?
2. What is promotional strategy?
3. What is promotional mix?
4. Name the promotional mix elements?
5. What is advertising?
6. What are the two types of advertising used by companies?
7. What is product advertising?
8. What is institutional advertising?
9. What is personal selling?
10. What is sales promotion?
11. What is publicity?
12. Name the elements of promotional strategy?
13. What is push strategy?
14. What is pull strategy?
The combination of advertising, personal selling, sales promotion, and publicity used to promote a product is called the promotional mix.
Advertising is any nonpersonal message paid for by an identifiable sponsor for the purpose of promoting products. Companies use two types of advertising: product advertising and institutional advertising. Product advertising, is advertising intended to promote demand for a product or service such as Pepsodent toothpaste. Institutional advertising is advertising done to enhance a company ‘s public image rather than to sell a product.
The second element of the promotional mix is personal selling. It is a face-to face attempt to persuade prospective customers to buy a given product. Personal selling provides the company with the opportunity (1) to give customers individuals attention, (2) to adapt a message to the customer, (3) to focus on a specific target market, (4) to receive immediate feedback, and (5) to provide the opportunity to close the sale.
The third element of the promotional mix is sales promotion. It is the marketing activities, other than personal selling and advertising that stimulate consumers purchasing and dealer effectiveness. Sales promotion supports the other three elements in the marketing mix.
The fourth element of the promotional mix is publicity. It is nonpaid, nonpersonal communication to promote the products, services, or image of the company. It is an important element of the promotional mix that can be overlooked because of its nature.
The four elements of the promotional mix need to be blended to communicate effectively to a target market. Each type of promotion serves a different function and therefore should support the other elements. There are two potential promotional strategy: push strategy and pull strategy.
A push strategy is a strategy directed at the members of the marketing channels rather than the consumer. A pull strategy is a strategy aimed at the consumer. To accomplish this strategy rely on the advertising, sales promotion, and publicity elements of the promotiuon mix.
QUESTIONS FOR COMPREHENSION1. What is promotion?
2. What is promotional strategy?
3. What is promotional mix?
4. Name the promotional mix elements?
5. What is advertising?
6. What are the two types of advertising used by companies?
7. What is product advertising?
8. What is institutional advertising?
9. What is personal selling?
10. What is sales promotion?
11. What is publicity?
12. Name the elements of promotional strategy?
13. What is push strategy?
14. What is pull strategy?
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