Promotional Mix an essential feature of a successful business
A business to be successful, should not only have good products with attractive prices, to generate sales and profit, but should also be able to effectively communicate the details of the products to the customers. The term promotion is preferably used internally by the marketing company rather than in public and to the public or market – phrases like “special offer” are more common. Promotion is the key to the success of a company, so while going deep into it, we find that a promotional mix is essential to get the work done in a systematic manner. Promotional mix involves four main aspects and they are listed below.
Advertising - Any paid form of non-personal communication of ideas or products in the "prime media", i.e., television, newspapers, magazines, billboard posters, radio, cinema etc. Advertising is intended to persuade and to inform. The two basic aspects of advertising are the message (what you want your communication to say) and the medium (how you get your message across). It communicates a message including the name of the product or service and how that product or service could potentially benefit the consumer.
Personal Selling - A process of helping and persuading one or more prospects to purchase a product or service or to act on any idea through the use of an oral presentation. Sales presentations, sales training and incentive programs for intermediary salespeople, sales meetings, samples, and telemarketing are some of the examples of personal selling.
Sales Promotions - Promotions are the incentives to customers or to the distribution channel, designed to stimulate the demand for a product, usually in the short term. Coupons, sweepstakes, contests, product samples, rebates, self-liquidating premiums, trade shows, trade-ins, and exhibitions are some examples of sales promotional activities conducted by the companies.
Public relations - The communication of a product, brand or business by placing information about it in the media without paying for the time or media space directly is known as public relations or otherwise known as publicity. Publicity is a positive note on the product or service conveyed through newspapers and magazine articles/reports, TV and radio presentations, charitable contributions, speeches and seminars.
The consumers benefit from the promotional Mix because of the convenience and service it provides, including personal demonstration and explanation of products, home delivery, and ultimately guarantees satisfaction to both the customer and