The Promotional Mix
The term "promotional mix" in marketing refers to a combination of promotional factors that marketers have chosen to aid a company in achieving its objectives. It is known to be a part of the marketing mix.
Finding the ideal combination of these components is a challenge for marketers because it is thought that there is an ideal way to allocate funds for the various components of the promotional mix in order to achieve the best marketing results.
Although the activities considered to be part of the promotional mix can vary, the following are frequently mentioned:
- Advertising is the identified sponsor's paid presentation and promotion of ideas, products, or services through a mass medium. Print ads, radio, TV, billboards, direct mail, brochures and catalogs, signs, in-store displays, posters, mobile apps, motion pictures, web pages, banner ads, and emails are a few examples.
- Personal selling is the process of assisting and convincing one or more prospects to buy a product or service or to take action on any idea through the use of an oral presentation, frequently done in person or over the phone. Examples include sales meetings, presentations, training sessions, incentive plans for middlemen, samples, and telemarketing.
- Sales Promotion is a limited period of time during which media and non-media marketing communication is used to boost market demand, spur consumer demand, or improve product availability. Coupons, sweepstakes, competitions, free samples of products, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions are a few examples. Corporate giveaways, also known as swag, can be distributed to attendees of an event in the form of product samples for marketing purposes.
- Public relations or publicity is information that is conveyed indirectly by a third party about the goods and services of a company. Free publicity and paid campaigns to pique interest are both included in this. A significant news story can be planted in the media in this way, or it can be positively presented through press releases or company anniversary celebrations. Examples include articles in newspapers and magazines; talks on television and radio; donations to charities; speeches; issue advertising; and seminars. Word-of-mouth marketing is another form of publicity that has evolved from one-on-one recommendations to influencers on social media or blogger promotions today.
- Direct marketing enables companies and nonprofits to communicate with customers directly through a variety of channels, including mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, sales letters, and outdoor advertising.
- Corporate image campaigns have been taken into account as a component of the promotion mix.
- Sponsorship of a race, contest, or event is a way to gain attention.
- Guerrilla marketing Tactics are unconventional ways to draw attention to a concept, a good, or a service. Examples include using graffiti, sticker bombing, flyering, flash mobs, viral marketing campaigns, or other unconventional means of using the Internet.
- Product placement is the practice of paying a film or television production company to prominently feature a good or service in their work.
- Digital marketing is the promotion of goods or services through the use of digital technologies, primarily the Internet but also including mobile phones, display advertising, and any other digital medium.