Promotion

1. Promotion in the Marketing Mix

Let’s look at promotion and its place in the marketing mix. As you know, promotion is part of the 4 Ps:

• Product
• Price
• Place
• Promotion

1. Advertising: The presentation and promotion of ideas, goods, or services
   
   

   EXAMPLE

   Print ads, television, or web pages


2. Personal Selling: The process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation
   
   

   EXAMPLE

   Telemarketing, sales meetings, or sales presentations


3. Sales Promotion: The media and nonmedia marketing communication that is used for a predetermined, limited time to increase consumer demand or stimulate market demand
   
   

   EXAMPLE

   Coupons, contests, or sweepstakes


4. Public Relations: The practice of managing the spread of information between an individual or organization and the public
   
   

   EXAMPLE

   Newspapers and magazine articles, speeches, or seminars
   
   
5. Direct Marketing: A form of advertising that allows businesses and nonprofit organizations to communicate directly with the customer
   
   

   EXAMPLE

   Emails, promotional letters, or newsletters

Some ways to promote a product could be simply imparting knowledge about it or telling consumers that its price has changed, as in, “Look at this new price and how much more value I’m offering you for this particular product!”

These are all types of promotion, and as a business, you’ll mix several different ones. You’ll not rely on just one type of promotion.

2. Media Mix

Media mix comprises the various communication forms that can be used by an organization to inform of or promote its offerings. With a media mix, we’re primarily concerned with advertising or advertising media. There are many different types of media, such as the following:

• Internet
• Radio ads
• Television ads
• Point-of-sale displays
• Signs
• Direct calling (telemarketing)

These are all ways to advertise a different product. Typically, you’ll see companies use a variety of different advertising media in order to get their product message out.

The Internet is an important communication channel that uses the powerful tool of data mining. Data mining is simply understanding more about the people looking at or buying your product. If you can define who is buying your product through avenues like rewards cards that track purchases and demographic data, then you can target your promotional media in order to hit that target market—specifically, the people you want to sell to.

EXAMPLE

Those pop-up ads that suddenly appear for things that you’ve searched the Internet for recently and let you know about a product that’s out there are results of companies collecting browsing data.

Alternatively, you may see promotions at the point of purchase, like additional savings or incentives offered for signing up for a rewards card or special discount club. You may be offered rebates if you buy something or come into contact with any number of other displays within a store that tout a particular item that’s on sale or being promoted.

Trade shows involve getting a product out there in a very public way.

EXAMPLE

An auto show is a forum for car companies to come out with their newest and greatest concept cars and latest models in order to generate media buzz and interest within the marketplace.

term to know

Media Mix

The various communication forms used by an organization to inform of or promote its offerings.