Even, when company wants to influence buyers during specific season or occasion, the sales promotion can be used. Different promotional tools are required at different stages of buyer readiness.
If there is a crisis or disaster and your company is in the middle of a promotion being advertised on TV, you will likely have to scramble to reach consumers via another medium. The Promotion Mix is the blend of several promotional activities Advertising, personal selling, sales promotion, public relations, direct marketing used by business to create, maintain and increase the demand for a product.
Personal selling may be fit for non-branded products. Think about what else you are doing when you watch television, when you are studying, or when you are listening to the radio.
The inefficiency factor comes in when, for example, a small enterprise has to use personal selling to reach a large target market as opposed to the more efficient advertising option. The promotion mix changes as the product moves along its life cycle. Type of product plays an important role in deciding on promotion mix.
In the case of convenience goods advertising is emphasized. Level of promotional efforts and selection of promotional tools depend on level of competition. At introduction a product must be presented to the customers and thus creating awareness is the biggest concern.
At the time of sales closure, the blend of sales promotion and personal selling is likely to be more effective. These factors may include: The hope is that by advertising late at night, young children do not see the advertisements. Some companies use publicity to create or improve brand image and goodwill in the market.
For example, are most college freshmen ready to purchase new cars.
What is the difference between encoding and decoding a message. Generally, for frequently purchase product, advertising is used, and for infrequently purchase product, personal selling and sales promotion are preferred. Each stage needs separate marketing strategies. Your friends brought a radio and the volume is turned up so you can hear all the music.
Type of product and type of purchase decision. Here, personal selling and trade promotion are likely to be more effective. In order to select the best methods to reach different target markets, organizations need to know what types of media different targets use, how often they make purchases, where they make purchases, and what their readiness to purchase is as well as characteristics such as age, gender, and lifestyle.
There may be more factors. Advertising through television, radio, newspapers and magazines is too costly to bear by financially poor companies while personal selling and sales promotion are comparatively cheaper tools. With so many different types of distractions and technology such as recording devicesimagine how difficult it is for an advertiser to get you to pay attention much less remember the message.
Factors Affecting Promotion Mix Definition: The Promotion Mix is the blend of several promotional activities (Advertising, personal selling, sales promotion, public relations, direct marketing) used by business to create, maintain and increase the demand for a product.
Factors Influencing the Promotion Mix A marketing manager from one company might decide to focus on social media, whereas a marketing manager from another company might decide to focus her company’s efforts on television commercials.
Starting Your Business. Factors Influencing Promotional Mix. Written by Samuel Muriithi for Gaebler Ventures. A small enterprise owner who intends to embark on business promotion must know what components of the same will be most effective in helping him/her achieve the desired agenda.
Product-Oriented Factors. The nature of a product or service and where it lies within the product life cycle determines how much information a customer may require before making a purchase decision.
The promotion mix that is settled is a trade-off between the funds available, number of people in the target market, quality of the communication needed and. Factors Influencing the Promotion Mix A marketing manager from one company might decide to focus on social media, whereas a marketing manager from another company might decide to focus her company’s efforts on television commercials.Factors affecting promotion mix