Advantages And Disadvantages Of Marketing Mix

According to the marketing dictionary the marketing mix is a combination of marketing elements used in the sale of a particular product. The marketing elements center around four distinct functions, sometimes called the Four Ps: product, price, place (of distribution),

Promotion is about how the customers are informed about a particular product or service and plays a vital role. So promotion basically carries the 3 Ps of the marketing mix by presenting that all important information to the right target market.

Promotion is a way company communicates messages on what the pruct does and what does the product can offer customers. It includes below elements:

Promotion: - it is the various methods used by the organisation to promote its product or brand name to its customers using methods such as billboard, online or email advertisements.

Promotion: promoting product to target market which may focus on acquiring new customers or retaining customers.

A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.

The main aim of a promotion is to persuade, inform and make people more aware of a company’s brand, as well as improving the overall sales figures. Advertising is the most widely used form of promotion, and can be through the media of TV, radio, journals, cinema or outdoors (billboards, posters). The specific sections of society being targeted will affect the types of media chosen, as will the cost. If you were a toy manufacturer, you might want an advertising spot during children 's TV. If you ran a local restaurant, you might choose a local paper or radio. A small or local business would not usually advertise on TV, because it is very expensive. Sales promotion is designed to encourage new and repeat sales. Loyalty cards, free gifts, competitions and voucher schemes are the most popular. Companies use sponsorship and public relations to improve their image, notably through financing sports, the arts and public information services.

Promotion: - represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion.

Public relations uses publicity and a variety of other tools-including special publications, participation in community activities, fund-raising, sponsorship of special events, and various public affairs activities-to enhance an organization's image.

Truell, Allen, Milbier, & Michael (2007) said that promotion is one of the four Ps of marketing - price, product, place, and promotion. Promotion is generally thought of as a sequence of activities designed to inform and convince individuals to purchase a product, subscribe to a belief, or support a cause. All of the various tools available to marketing managers for promotional activities constitute what is known as the promotional mix. The promotional mix includes advertising, personal selling, public relations and sales promotion.

The role of promotion is very important for the success of a business. A promotion mix consists of promotion activity such as public relation tool, advertising, sale

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market.

Ultimately, the goal of any promotional marketing campaign is to raise awareness about a product or increase its appeal. Promotional marketing has the advantage of being valuable to both new customers and existing customers -- it offers new customers a reason to try the product for the first time, while building loyalty in existing customers

Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.

The Main Components of the Promotion Mix Tools Available to Marketing Managers It is not enough for a business to have good products sold at attractive prices. To generate sales and profits, the benefits of products have to be communicated to customers. In marketing, this is commonly known as "promotion". Although promotion is not done only for these factors but for other such as to build brand loyalty, to reminds and reassure costumers, to launch a new product and maybe to defend market share by responding to competitors’ campaigns with their own advertising A business' total marketing communications programme is called the "promotional mix" and consists of a blend of advertising, personal