Promotion is one of the 4Ps of marketing. You have learned about the marketing mix elements (the 4Ps) in earlier lessons. Marketing mix elements are under the control of the company. Show We will cover five promotional tools. Businesses can use one or more of these five promotional alternatives:
The table below presents these five promotional elements along with the strengths and weaknesses of each element.
Icons by makyzz/iStock/Getty Images; billboard retrieved from http://www.billboardexpress.com/Fleet.html; sales rep by Nola Vignlietti (LumiNola)/E+/Getty Images; press conference retrieved from https://www.apple.com/ca/newsroom/2018/06/highlights-from wwdc-2018/; Three of the five promotional elements—advertising, sales promotion, and public relations—are often said to use mass selling. Mass selling refers to the promotional element that reaches out to groups of prospective buyers, rather than making individual contact with each potential buyer. Personal selling and direct marketing use customized interaction between a seller and a prospective buyer. Personal selling can be done face-to-face, over the telephone, and with interactive electronic communication. Direct marketing also uses messages customized for specific customers. We will cover the five promotional elements in more detail in this lesson. AdvertisingAdvertising is a paid form of non-personal communication about an organization, good, service, or idea, by an identified sponsor. Advertising can be done by mass media including TV, radio, and magazines. Marketers decide which medium is best for the particular product/service; it depends on the target audience. The medium of advertising should be carefully selected based on the interests of the target market. The message in the advertising should be consistent with the beliefs of that target market. Marketers must also make sure that the message will be understood. Advantages of using advertising in the promotional mix:
Disadvantages of using advertising in the promotional mix:
Personal SellingThe most important characteristic of personal selling is the two-way flow of communication between a potential buyer and seller. The goal is to influence a potential buyer's purchase decision. Personal selling is more advantageous than advertising in two ways:
There are disadvantages of personal selling as well:
Public RelationsPublic relations is a form of communication management that reaches out to stakeholders of the company in order to influence their feelings, opinions, and beliefs. Examples: Public relations can take many forms including special events sponsorship, lobbying efforts, annual reports, press conferences, and social media. Image management may be used by a public relations department. Publicity often plays the most important role. Publicity is a non-personal, indirectly funded presentation of an organization, good, or service. Examples of publicity include a news story or editorial about the company or its products/services. The biggest difference between publicity and both advertising and personal selling is the payment method. There is no direct payment in publicity. The media produces and runs the news story without any payment by the company. Of course it does not mean that publicity is entirely free. It is indirectly paid. Businesses do not pay for space in a mass medium (such as TV or radio), instead, the company must employ public relations staff and pay their salaries for their efforts. The biggest advantage of publicity is its credibility. People tend to believe what they see in news stories and editorials. Most of such stories are in favour of the company and its products/services, and there is a tendency to believe it. The biggest disadvantage of publicity is the lack of the business's control over it. A public relations (PR) department does its best to invite a news team to preview its innovative production facility and hopes that the editorial will run on the 6 p.m. newscasts. However, there is no guarantee when this news story would air. The company has no control over the timing or whether the story will air at all. It is not possible to make arrangements regarding the air time or the alignment of air time with the time the target audience is watching. Many PR departments now are shifting their focus to facilitating and responding to online discussions. Sales PromotionSales promotions are short-term inducements of value. They are offered to arouse interest in buying a good/service. Examples include coupons, rebates, samples, and sweepstakes. We will examine these in more details in the next lesson. The advantage of sales promotions is that they provide the incentive to buyers to purchase, and they are very effective in the short run. Sales promotions stimulate sales for a short term period. There are some disadvantages of sales promotions:
Direct MarketingDirect marketing uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. Examples are face-to-face selling, direct mail, catalogues, telephone solicitations, and direct response advertising on television, radio, print, e-mail, social media, etc. The advantage of direct marketing is that it can be customized to match the needs of specific target markets. It is one of the fastest-growing forms of promotion. Direct marketing has several disadvantages:
Critical Thinking Activity: You have seen five main promotional mix elements in this lesson along with their advantages and disadvantages. Think about which promotional mix element(s) can be applied to your company from the group project. Identify the reasons why the promotional elements you picked are the best for your company. Make sure to support your arguments with facts based on advantages/disadvantages of each promotional element, characteristics of the product/service provided by your company and your target market. Concept Check Questions: 1. Which promotional element should be offered only on a short-term basis? sales promotion public relations personal selling direct marketing 2. Cost per contact is very high with the ___________ element of the promotional mix. sales promotion public relations personal selling direct marketing What are the 5 types of promotional mix?A promotional mix is an allocation of resources among five primary elements:. Advertising.. Public relations or publicity.. Sales promotion.. Direct marketing.. Personal selling.. What are the 6 elements of promotional mix?These components of the promotion mix are:. Advertising.. Public Relations.. Personal Selling.. Sales Promotion.. Direct Marketing.. What are the 8 elements of promotion mix?Promotion mix or media/methods of promotion comprise- personal selling, advertisement, sales promotion and publicity. In terms of impact and cost, the two most important and prevalent media are the personal selling and advertising.
Which of the following is an element of the promotional mix?The promotion mix also contains four elements that companies use to meet their marketing objectives. The elements are sales promotion, advertising, personal selling, and public relations.
|