Definitions:
When deciding how to properly use the marketing communications mix to meet your marketing objectives, it is important to consider the relative strengths and weaknesses of each component of the mix. Further, you must always define your total budget first (generally defined in the Marketing and/or Business Plan) and then decide upon the best way to leverage the different elements of the mix to maximize the return on your investment. You will balance the various parts of the mix to not only create an integrated approach to your marketing communications but you must also devote enough resources for each component to be successful. Remember the Chamber, has various marketing tools that can supplement most area of your promotional mix. Here are some things to keep in mind: Advertising Reaches large, geographically dispersed audiences, often with high frequency; low cost per exposure, though overall costs are high; consumers perceive advertised goods as more legitimate; dramatizes company/brand; builds brand image; may stimulate short-term sales; impersonal, one-way communication; expensive.Personal Selling Most effective tool for building buyers’ preferences, convictions, and actions; personal interaction allows for feedback and adjustments; relationship and networking-oriented; buyers are more attentive; owners time and sales labor cost represents a long-term commitment; most expensive of the promotional tools.Sales Promotion May be targeted at the trade or ultimate consumer; makes use of a variety of formats including premiums, coupons, contests, etc.; attracts attention, offers strong purchase incentives, dramatizes offers, boosts sagging sales; stimulates quick response; short-lived; not effective at building long-term brand preferences.Public Relations Highly credible; very believable; many forms including news stories, news features, event sponsorships, etc.; reaches many prospects missed via other forms of promotion; dramatizes company or product; often the most underused element in the promotional mix; relatively inexpensive (certainly not "free" as many people think; there are costs involved). Direct Marketing Many forms including telephone marketing, direct mail, online marketing, etc.; four distinctive characteristics - nonpublic, immediate, customized, interactive; well-suited to highly-targeted marketing efforts. When deciding upon your unique marketing communications mix, you should also consider the Product Life Cycle. A promotion mix is a set of different marketing approaches that marketers develop to optimize promotional efforts and reach a broader audience. The marketer’s task is to find the right promotion mix for a particular brand. Developing a promotion mix requires skills and experience in marketing. Marketers should complete various studies and gather lots of data about a particular company to come up with an effective promotion mix. For instance, it is necessary to identify your target audience, work out a budget that you can afford for a promotion, and decide the most efficient marketing channels for your audience. A promotion mix is a more expanded approach towards one of five elements of the marketing mix — Promotion. Other factors are people, product, place, and price.
You can cover some of the promotion mix components with SendPulse. Let’s find out which marketing channels you can implement in your promotion mix. This marketing channel allows you to send promotional emails, newsletters, trigger emails, follow-ups, and more. Avoid monotonous promotions because users’ inboxes are often overwhelmed with sales emails. Send email campaigns that provide value to the customers, not only put your product in front. SMSSend time-sensitive offers to your audience to impulse quick sales. Try to implement an SMS campaign in your promotion mix because it has huge open rates. Web push notificationsFollow up on the success of your email marketing or drive visitors back to your website with this technology. Send web push notifications to inform about new products, discounts, news, and updates. Messenger marketingThis channel allows businesses to have conversations with people in messengers. SendPulse allows marketers to create chatbots for Facebook Messenger and Telegram app to automate answering clients' questions, collect orders, register them for events, and promote products. You can create three chatbots and send 10,000 messages to unlimited number of subscribers each month for free.
Let’s take Nike’s promotion mix as an example and learn how they use each of the promotion mix components.
Last Updated: 24.05.2022 Rate this article about "Promotion Mix" |