Promotional Mix represents all kinds of communication used by an organization to establish visibility and gain leads for its products or services. The activities performed as part of a promotional mix help to influence the buying behavior of targeted consumers.
The promotional mix adopted by your organization should inform potential customers about the benefits of opting for your products/services. The 5 elements in a promotional mix are concepts you are already aware about. Let’s go through them again to give you a firmer understanding of the importance of the promotional mix, helping you to plan promotional activities in a more informed manner.
The most widely practiced marketing strategy, advertising refers to the paid and non-personal promotion of products and services. It is a form of mass communication that utilizes a variety of advertising options – from television and radio to newspapers and promotional products.
Advertising usually involves huge spending of marketing dollars, depending on the advertising channel you opt for.
- Sales Promotion
Sales promotions play a major role in influencing consumer buying preferences. This is achieved through a variety of short-term incentives at stores (online or physical), exhibitions, and events. Sales promotions are achieved through coupons, discounts, free gifts and contests.
- Personal Selling
Personal selling involves face-to-face communication. It allows the seller to approach prospects directly to sell products/services. Personal selling usually involves a lot of presentations and is considered to be a highly efficient form of promotion.
- Public Relations
Public Relations involve activities that are aimed at building and maintaining a favorable image among stakeholders. The stakeholders can include past/present/future customers, clients, employees, and other entities that directly or indirectly have a connection with your business.
Publicity is a part of public relation activities – it involves public speeches, interviews, seminars, donations and any other form of promotion that doesn’t involve huge spending. Usually, businesses take up initiatives (such as cancer awareness) and inform local media houses about it. The resulting publicity gained among the local community is valuable and will last years.
Leverage the power of promotional mixes by doing marketing the right way! Learn about the different aspects of promotional mixes and how you can evolve your strategy around them. Hop online and explore promotional mix strategies adopted by other organizations. You will get a clearer picture on how to separate core advertising from other aspect of marketing.
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