PROMOTION MIX OR COMMUNICATION MIX
In the formulation of the marketing mix, the promotion occupies a place of outstanding significance. In the promotion mix, we include a number of sub-mixes. Such as advertising, sales promotion, personal selling etc. It gives full information regarding qualities and characteristics of a company’s product. In short words, it gives the relative study of the company’s product with a similar product to other company to the consumers. So that they can go for the company’s product.
ELEMENTS OF PROMOTION MIX:
- Advertising
- Sales promotion
- Personal selling
- Public Relation
- Trade fairs & exhibition
ADVERTISING
Advertising by nature is an effective promotional tool engaged to make the potential customers aware of the existence of the product or service. It is a very helpful way to know about the needs of the customers. In other words, advertising operates in a broad spectrum. i.e. can be seen to operate at various levels with a specific purpose to serve at each of levels. Its basic objective is to increase its sales and as well as profits.
Advertising is “Any paid form of nonpersonal presentation of goods, ideas, services by an identified process.”
SALES PROMOTION
Sales promotion is one of the most important tools for the promotion mix. It is a short-term incentive to encourage the purchase of a product or service. Sales promotion consists of promotional activities other than other tools. Sales promotion techniques include things like gift, contests, samples, discounts etc. Thus sales promotion is the function of marketing that provides an inducement to buy.
According to W.J Stanton,” Promotion is an exercise in only information and influence“.
PERSONAL SELLING
Personal selling is an effective means of reaching customers. It involves an immediate, interactive and alive relationship between the buyer and the seller. Personal selling can also develop a long-term relationship with buyers. Personal selling calls for very sensitive preparation on the part of a salesman in terms of acquiring all the important information about the product.
It is defining as ” Personal selling is the personal communication of information to the persuade the prospective customer to buy something a product or service or something else.
PUBLIC RELATIONS
It is a very important tool for the promotion mix, which helps to strengthen the existing position of a firm in the market. The public relations activity is direct towards influential, through relatively small target audience of journalists who work for popular publications. To do an effective public relation, marketers need to hire an established public relation firm. Then the company should decide in consultation with the public relationships firm.
TRADE FAIRS & EXHIBITIONS
Trade fairs and exhibitions have the main motive is to present goods and services in an attractive manner with the aid of light, color in order to catch the imagination of the visitor. Attract customer’s attention and get them interested in the product with is displayed. In other words, trade fairs and exhibitions help in giving information about the innovative and relevant development around the world. They also help to reach the public. So Trade fairs and as well as exhibitions are also good for promotion.
