Marketing Promotion Mix
1. Defining promotion mix
Definition of a promotional mix has many interpretations. But it is generally accepted that the promotional mix is a set of methods of influencing the market that a company uses to solve marketing purposes. Normally, firms use it to advertise and sell their products.
The promotion mix elements are advertising, public relations, direct marketing, personal selling, and sales promotion These are also called as main tools of promotion mix.
The ways you use these tools determine whether you will be able to reach the target audience.
So, a proper promotional mix is one that:
сombines various methods of marketing communication;
highlights a product;
is always at the right place and right time.
Let's remember this when we choose the right components of the promotion mix. Thanks to these rules we can always succeed.
2. Components of promotional mix
The promotional mix includes 5 basic elements among which you need to allocate your resources. Let's consider in detail these primary elements: Sales promotion, advertising, direct marketing, personal selling, public relations.
Sales promotion. An incentive to buy a product in a short time e.g. discounts, promotional codes, gift coupons. As usual, companies use it in special moments (holidays, the end of the season, weekends), or places (fairs, exhibitions, festivals).
Advertising. Promotion mix advertising is the most important among all promotion mix elements. Any paid message in any form in order to draw attention to a product or service.
Direct marketing. Advertising, personal sales, personal promotion, consulting, and training aimed directly at target customers. Direct marketing enables you to communicate with your customers in a more personalized way. Direct communication with clients using messages, emails, calls. For example, on Black Friday, companies inform customers about discounts through emails or SMS.
Personal selling. Personal communication between the seller and the buyer in order to convince the buyer to buy the product.
Public relations. Any tools to become public with the help of which you can get support from people associated with your business. Use such links as a public relations promotional mix to transmit your messages in the future.
The marketing mix is a fundamental part of every business. And the promotional mix is part of it.
The marketing mix consists of four basic parts:
Promotion: includes all marketing methods that will help you learn about the product, attract attention and generate a need to purchase a product and repeat purchases.
Product: something that a company offers to the market. It could be a service or goods. It is essential that the product meets the demands of the market. Based on these needs of the target audience you can create a design, assortment, and product properties.
Price: the price that the consumer pays for the product. You cannot determine the price if you do not know the desired profit. Also, it will also be important for you to compare prices of competitors, and quality of goods.
Place: distribution channels of product and selection of the best area where to sell.
Remember that all promotion mix elements you choose should be suitable for your company's promotion mix strategy.
3. Why is promotion mix so popular?
The model is so popular because it is simple and versatile. Anyone who is not a marketing professional can use it.
A public presentation of your company helps to gain a foothold in the mind of the customers. And, the world company's promotional mix examples show us how effective it is.
Thus, combining all these promotional components you can maximize the results of your company. As you broadcast your message in different ways you increase your chances of getting the goal.
The reasons for the popularity of promotion mix are as follows:
easy to earn customers’ trust;
growth of sales;
good relationships with the target audience.
4. How can you select the right promotion mix for your company?
It takes just a few steps to select the right mix:
- you need to set the goal of your campaign;
- choose the right target audience;
- select the right channel/the right promo mix;
- choose the element of the promotion mix that suits your product the most. It can be either one element or a combination of all 5 elements;
- and only then do you need to work on the right message.
When working on the latter, keep in mind that your message should be catchy, attention-grabbing, and quite appealing for the chosen segment of users.