Promotional mix is the coordination of the marketing activities which includes sales promotion, publicity, advertising, direct marketing and personal selling. It is a coordination of activities that you will perform to directly interact with your customers. Promoting the products is important for any business because of the lasting impact of promoting has on customers. The promotion mix is the essence of what promoting is and how promoting it is done effectively. Advertising, sales promotion, personal selling, public relations, and direct marketing comprise the promotion mix.
Marketing mix or 4p’s is the key to sustain in the competitive market. Successful marketing mix strategy can save any company from the competitors. A company can make a unique place in the market by offering a unique price, innovative product and attractive promotional activities. This marketing mix helps to acquiring a great number of customers. Marketing mix helps to expand an industry like as the retail industry in UK is expanding by the creative marketing mix of Tesco Plc.
Marketing mix means a mixture of elements which interact and complement each other to achieve the targeted results. Marketing mix can also be defined as “The mixture of controllable marketing variables that the organization uses to pursue the desired level of sales in the target market”. Marketing mix is a combination of the marketing variables which any organization uses at a particular time in order to achieve the results. The term ‘marketing mix’ was first introduced by Professor Neil Bordes in the year 2953. Professor Bordes got the cue from a study of management of marketing costs by Professor James Gulliton who described the marketing executive as a mixer of ingredients.
The service marketing mix is also known as an extended marketing mix and is an integral part of a service blueprint design. The service marketing mix consists of 7 P’s as compared to the 4 P’s of a product marketing mix. Simply said, the service marketing mix assumes the service as a product itself. However it adds 3 more P’s which are required for optimum service delivery. The product marketing mix consists of the 4 P’s which are Product, Pricing, Promotions and Placement.
Promotion mix refers to all the decisions associated with the promotion of sales of products and services. The major decisions of promotion mix are choosing advertising media, deciding promotional techniques, using publicity measures, enhancing public relations and the like. There are several tools and elements open for promotion. These are used by firms to carry on its promotional exercises. The marketer normally chooses an aggregate of these promotional tools.
How can Kellogg still exist in the industry and adjusting over the period of time? Kellogg is applying the marketing mix and marketing strategies as creative and innovative as possible. According to Kotler and Armstrong (2013, p. 80), “marketing mix is the set of tactical marketing tools (product, place, price, and promotion) that the firm or company blends to produce the response it wants in the target market”. In other words, marketing mix is compiling and maximizing the marketing
Innovative Promotional Tools Marketers make use of a variety of promotion tools to communicate with customers and other stakeholders. Also known as Marketing Communication Mix, it consists of “a specific blend of advertising, public relations, personal selling, sales promotion, and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships” (Armstrong & Kotler 2008). Figure: The Marketing Communications Mix: Advertising, Sales Promotion, Personal Selling, Public Relations, Direct Marketing Source: Armstrong & Kotler, 2008. The promotion tools of the Marketing Communication Mix are described below, together with the advantages and disadvantages of each component. Advertising Marketers whom need to reach large, geographically dispersed audiences, often with high frequency, use advertising to promote their business.
Moller (2006) highlighted 3-4 key criticisms against the marketing mix framework; that the marketing mix does not consider customer behaviour, but is internally oriented, that it regards customers as passive and therefore not allowing interactions, that the mix is void of theoretical content, that it works primarily as a simplistic device focusing the attention of management and finally that the marketing mix does not offer help for personification of marketing activities. Kotler (2003), argues that external and uncontrollable environmental factors are very important elements of the marketing strategy programs. Therefore, marketing mix should consider customers, environmental variables and competitive variables. He suggests that two additional Ps of Political power and Public opinion should be added to the traditional 4Ps. Schultz (2001) argues that the 4Ps have less relevance today, but they made sense the time they were invented.
a- Marketing is managing customer relationships. Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. Marketing is the process by which companies create value for customers and build strong customer relationships in return b- Marketing management wants to design strategies that will build profitable relationships with target consumers. Different philosophies are: The production philosophy: holds that consumers will favor products that are available and highly affordable. Therefore management should always focus on improving production and distribution efficiency.
Marketing is a very important tool that enables a product to be marketable. Individuals and groups acquire what they want and need in a social and managerial process through designing and interchanging products and value to others is called marketing (Kotler et al, 1999). Companies create customer attention in their products and services through the process of marketing. Thus, it brings into existence of plans that form the foundation of sales techniques, business development and business communication. This process is combination process where companies can establish strong customer relationships and bring value for their customers and for themselves.