Tuesday, December 8, 2015

What Is Promotion In Marketing Mix

The marketing mix is one of the most essential pieces of marketing information that a business owner needs to understand. The marketing mix is a term that deals with the individual components of a comprehensive marketing plan. Promotion is one of the four main components of this mix, and it is essential to complete the sales process.


Communication


The promotion component of the marketing mix is all about communication with the customer. If a business cannot effectively communicate its message to the public, it will not close sales. This aspect of marketing involves actually advertising to the consumers and selling them the product. With this component of the marketing mix, you have to look at how you are getting the word out about your products and services. Every company uses promotion a little bit differently, but the ultimate goal is still the same.


Advertising


One of the most essential components of promotion is advertising. Most businesses use some type of advertising to bring in new customers. This is a direct form of communication in which a business has to pay for the right to gain access to consumers. Advertising can take place in a number of different ways such as radio ads, TV ads, newspaper ads and online advertisement. The company has to allocate a specific amount of money to advertising to ensure enough customers are coming in.


Personal Selling


Another critical component of promotion involves personal selling. Although not every company uses personal selling, many use this form of promotion to develop relationships with customers. Personal selling involves hiring a sales staff to work directly with the customers. By using personal sales, you can create more repeat business through positive relationships. You also can bring in extra sales through prospecting instead of having to rely solely on spending money to bring people in the door.


Public Relations


Public relations is another essential part of the promotion mix. Public relations deals with the overall general perception of the company. This can come through using news releases, news stories and other strategies to shape the perception of the company. Maintaining a good reputation in the public eye is important for most businesses, and this area of promotion deals with handling publicity. This could be done with the help of a public relations firm or handled internally.

Tags: deals with, company uses, component marketing, most essential, perception company, personal selling