Promotional mix

Promotional Mix is referred to the combination of different kinds of promotional tools used by a firm to advertise and sell its products.

1. PROMOTION MIX Submitted To : Submitted By NISHI AGGARWAL RACHEL. S JIMS VK2 6 th SEMESTER

2. CONTENT INTRODUCTION OBJECTIVES TOOLS & TECHNIQUES ADVERTISING AND ITS TYPES SALES PROMOTION AND ITS TOOLS PUBLIC RELATION PERSONAL SELLING DIRECT MARKETING

3. PROMOTION Definition : Promotion involves disseminating information about a product, product line, brand, or company. It is one of the four key aspects of the marketing mix. The other three elements are product marketing, pricing, and distribution. To generate sales and profits, the benefits of product have to be communicated to customers. In marketing this is commonly known as “Promotion”.

4. What is Promotion Mix ? The term ‘promotional mix’ is used to refer to the combination of different kinds of promotional tools used by a firm to advertise and sell its products. The main promotional tools or activities which make up promotion mix are personal selling, advertising, publicity and sales promotion. These are also known as elements of promotion mix. The concept of promotional mix assumes that there is a variety of means for communicating with consumers. Promotional mix refers to the combination of various types and amounts of various forms of promotion used by a marketer.

5. OBJECTIVES OF PROMOTION MIX : 1. Build Awareness : New products and new companies are often unknown to a market, which means initial promotional efforts must focus on establishing an identity . 2. Create Interest : Consumer buying behaviour depends on the type of customer so the customer must first recognize they have a need before they actively start to consider a purchase. 3. Provide Information : Some promotions are designed to assist customers in the search stage of the purchasing process. In other situations where the product competes in an existing market, informational promotion may be used to help with a product positing strategy.

6. 4. To Face Competition : Market promotion enables the firm to face competition effectively. In today’s market situation, it is difficult to stand without the suitable promotional efforts . 5. Stimulate Demand : It is the primary objective of market promotion. Through the use of appropriate means of market promotion, such as advertising, sales promotion, personal selling, and so forth, the company can stimulate demand for the product.

7. TOOLS AND TECHNIQUES OF PROMOTION MIX Advertising Sales Promotion Public Relations Personal Selling Direct Marketing

8. The factors that guide a marketer’s decision in selecting a promotion mix are : Nature of the product market. Overall marketing strategy. Buyer readiness stage. Product life cycle stage.

9. ADVERTISING Any paid form of non- personal presentation and promotion of ideas, goods, or services. Reaches large, geographically dispersed audiences, often with high frequency. Impersonal; one way communication. This is a powerful elements of the promotion mix. Advertising is paid form of publicity. Advertisement are identifiable with their sponsor of originator which is not always the case with publicity or propaganda.

10. TYPES OF ADVERTISEMENT : Advertising Print Broadcast Outdoor Covert Public Service

11. Print Advertising : Print advertising means advertisements that are printed in hard copy in publications (newspapers, magazines, journals) likely to be read by your target audience. Benefits: If you buy an advert in a magazine with a big circulation, you increase the likelihood that you will reach a wide audience. Broadcast Advertising : Broadcast advertising is the advertising of services or products that uses out-of-home mediums to reach broad audiences: i.e. T.V , Radio, Billboards, etc. Billboards are a type of broadcast advertising like TV or radio. Outdoor Advertising : Any advertising done outdoors that publicizes your business's products and services. Types of outdoor advertising include billboards, bus benches, interiors and exteriors of buses, taxis and business vehicles, and signage posted on the exterior of your own brick-and-mortar location.

12. Covert advertising as a vehicle in the advertising medium has been used among other vehicles to create awareness about products/brands among prospective consumers and as a reminder among customers. Its impact cannot be underestimated and the consequences thereof about products/ brands. Public Service Advertising : Public Service Advertising is using the techniques of commercial advertising for non-commercial purposes. It is mainly used as a tool to promote social welfare. Business concerns may also undertake it in public interest.

13. Sales Promotion “ A direct inducement that offers an extra value or incentive for the product to the sales force, distributors, or the ultimate consumer with the primary objective of creating an immediate sale. ” An extra incentive to buy. A tool to speed up sales. Targeted to different parties.

14. SALES PROMOTION TOOLS Consumer – Oriented : Samples Coupons Premiums Contests / Sweepstakes Refunds / Rebates Bonus packs Price-off deals Loyalty programs Event marketing Trade – Oriented Contests, dealer incentives Trade allowances Point-of-purchases displays Training programs Trade shows Cooperative advertising

15. PUBLIC RELATION Public Relations is a planned process to influence public opinion, through sound character and proper performance, based on mutually satisfactory two-way communication . Public Relation (PR) is the practice of managing the flow of information between an organization and the public. The aim of public relations by company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it.

16. ROLE OF PUBLIC RELATION General public Employees Customers Suppliers Stakeholders CLIENT

17. PERSONAL SELLING Personal selling is that selling technique which is involved between person to person and between the prospective buyer and seller. Personal selling involves developing customers relationship, discovering and communicating customer needs, matching the appropriate products with these needs. Personal selling is the most significant promotional tool in terms of number of people employed. Eg : Business Firms, Factories, Retailers, Bank, etc.

18. METHODS OF PERSONAL SELLING Retail Selling : Selling to ultimate consumer. Field Selling : Business to business selling that take place in the prospective customer’s place of business. Telemarketing : Using the Telephone as the primary means of communicating with prospective customers. Inside Selling : Business to business selling in the Sales person’s place of business.

19. STEPS IN PERSONAL SELLING Prospecting Identifying and Qualifying. Pre- approach and call planning. Handling of Objectives. Presentation approach and Demonstration. The Close. Follow Up.

20. Direct Marketing Direct Marketing is a system of marketing by which organizations communicate directly with target customers to generate a response or transaction. Direct Marketing uses a set of direct-response media, including direct mail, telemarketing, interactive T.V, print, internet and other media. These media are the tools by which direct marketers implement the communication process.

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